100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
1 - ExamFX Life and Health - General Insurance Exam | 93 Questions with 100% Correct Answers |GRADED CA$25.65   Add to cart

Exam (elaborations)

1 - ExamFX Life and Health - General Insurance Exam | 93 Questions with 100% Correct Answers |GRADED

 8 views  0 purchase
  • Course
  • Institution

What two elements are necessary to a life insurance contract to have a legal purpose? - CORRECT ANSWER 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - CORRECT ANSWER Loss What Type of Risk is Insurable? - CORRECT ANSWER Pure What is the term f...

[Show more]

Preview 1 out of 4  pages

  • November 1, 2023
  • 4
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
avatar-seller
1 - ExamFX Life and Health - General
Insurance Exam | 93 Questions with
100% Correct Answers |GRADED

What two elements are necessary to a life insurance contract to have a legal purpose? -
CORRECT ANSWER 1. Insurable Interest
2. Consent
Insurance is a contract that protects the insured from what? - CORRECT ANSWER
Loss
What Type of Risk is Insurable? - CORRECT ANSWER Pure
What is the term for the causes of loss insured against in a insurance policy? -
CORRECT ANSWER Peril
What Law Protects Consumers from the circulation of inaccurate or obsolete
information? - CORRECT ANSWER The Fair Credit Reporting Act
What are the three types of hazards? - CORRECT ANSWER 1. Physical
2. Moral
3. Morale
In forming an insurance contract, when does an acceptance usually occur? -
CORRECT ANSWER When the insurer approves a prepaid application
An insurance company domiciled in California and transacts insurance in Nevada. What
is this insurer's classification in Nevada? - CORRECT ANSWER Foreign
A state-issued document empowering an insurance company to become an admitted
insurer is called what? - CORRECT ANSWER Certificate of Authority
What entities make up the Medical Information Bureau? - CORRECT ANSWER
Insurers
What type of insurer is a voluntarily formed organization that provides insurance benefits
for members of an affiliated lodge or religious organization with representative form of
governtment? - CORRECT ANSWER Fraternal Insurers
When would a misrepresentation on an insurance applications be considered fraud? -
CORRECT ANSWER When it is intentional and material

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Smartprof. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$25.65. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78121 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you


CA$25.65
  • (0)
  Add to cart