CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C) ACTUAL EXAM 150 QUESTIONS AND CORRECT DETAILED ANSWERS
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CA LIFE AND HEALTH INSURANCE
Institution
CA LIFE AND HEALTH INSURANCE
CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS
(VERSION A, B AND C) ACTUAL EXAM 150 QUESTIONS
AND CORRECT DETAILED ANSWERS
What is meant by referring to an insurance policy as a unilateral contract? - Answer️️ -
Only one party makes a legally enforceable promise.
When must insurance ...
What rule is used to determine the importance of a representation? - Answer✔️✔️-The
materiality of concealment.
The required contents of a policy include all of the following EXCEPT - Answer✔️✔️-the
probability of loss
All of the following are characteristics of reinsurance EXCEPT it - Answer✔️✔️-increases
the unearned premium reserve.
According to the California Insurance Code, an insurance policy must specify all of the
following EXCEPT the - Answer✔️✔️-financial rating of the insurer.
All of the following qualify as "background information" as defined in Section 1729.2 of
the California Insurance Code, EXCEPT - Answer✔️✔️-misdemeanor charges filed, not
resulting in a conviction.
Loss retention is an effective risk management technique when all of the following
conditions exist EXCEPT the - Answer✔️✔️-probability of loss is unknown.
A situation in which there is a possibility of loss or a gain is a - Answer✔️✔️-speculative
risk.
Why is having a large number of similar exposure units important to insurers? -
Answer✔️✔️-The greater the number insured, the more accurately the insurer can predict
losses and set appropriate premiums.
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