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California Life Accident and Health Exam Practice/ 353 Questions with Certified Answers/
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California Life Accident and Health Exam Practice/ 353 Questions with Certified Answers/
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California Life Accident and Health ExamPractice/ 353 Questions with Certified
Answers/ 2024-2025
which insurer's owner receives taxable corporate dividends as a return of profit?
a
mutual
b
reciprocal
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
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
in the insurance world, a potential for a loss is said to be:
a
a risk
b
a peril
c
a hazard
d
an insurable interest - Answer: a
, a risk
an insurance plan owned by an employer, creditor or association, providing coverage for the
employees, debtors, or members, refers to which of the following?
a
ordinary life insurance
b
group life insurance
c
industrial life insurance
d
individual life insurance - Answer: b
group life insurance
a personalized computer-generated illustration detailing premiums, cash values, interest rates,
and surrender values is called __________.
a
a policy summary
b
sales literature
c
an advertisement
d
a hypothetical - Answer: a
a policy summary
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