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California Life Accident and Health Exam Practice/ 350+ Questions with Verified Answers/
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California Life Accident and Health Exam Practice/ 350+ Questions with Verified Answers/
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California Life Accident and Health ExamPractice/ 350+ Questions with Verified
Answers/ 2024-2025
which of the following risks is protected by insurance?
a
certain risk
b
speculative risk
c
pure risk
d
involuntary risk - Answer: c
pure risk
a good example of risk reduction might be:
Page 1 of 159
,a
when one takes action to minimize the severity of a potential loss
b
the elimination of the exposure to a specific risk
c
the transfer of the risk to an insurance company
d
insuring only those risks that threaten the financial stability of the insured - Answer: a
when one takes action to minimize the severity of a potential loss
an insurer that is authorized to do business in a particular state is said to be:
a
non-admitted
b
admitted
c
domestic
d
foreign - Answer: b
admitted
which insurer's owner receives taxable corporate dividends as a return of profit?
a
mutual
b
reciprocal
Page 2 of 159
,c
stock
d
fraternal - Answer: c
stock
in insurance, when the number of similar units increase, the predictability of the loss improves:
a
because of the similarity of units in large quantities
b
according to the law of large numbers
c
because of accumulated experience
d
according to the law of averages - Answer: b
according to the law of large numbers
a contract whereby only one party is bound to future performance, is said to be:
a
a unilateral contract
b
a bilateral contract
c
a conditional contract
d
an aleatory contract - Answer: a
Page 3 of 159
, a unilateral contract
the california financial information privacy act is sometimes known as:
a
cal-glba
b
ca-fipa
c
ca-hipaa
d
ca-fcra - Answer: a
cal-glba
in california, any person that manufactures and sells insurance coverage by way of insurance
policies or contracts may be an:
a
insured
b
insurer
c
agency
d
agent - Answer: b
insurer
Page 4 of 159
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