Ca life accident Study guides, Class notes & Summaries

A hazard that deals with attitudes, behavior, and habits is an example of: - ANSWER-Moral Hazard When can a representation be altered or withdrawn? - ANSWER-It can be altered or withdrawn before the insurance is issued. The function of insurance is best described as: - ANSWER-It spreads financial risk over a large group so as to minimize the loss to any one individual. What are the four major elements of a contract? - ANSWER-The four major elements of a contract are: (ACCL) agreement, c...

CA PSI Site - Life, Accident And Health Agent Examination (Life Agent) Questions With 100% Correct Answers An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Admitted Insurance Company vs. Non-Admit...

CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? peril is the causes of loss insured against in an insurance policy What is hazard? conditions that increase the pr...

CA Accident, Health, Life Exam Questions And Answers With Verified Tests

CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by th...

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CA Insurance Exam Life, Accident, Sickness or Health

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CA PSI Site - Life, Accident and Health Agent examination (Life Agent) Exam Questions and Answers (Latest update 2024)CA PSI Site - Life, Accident and Health Agent examination (Life Agent) Exam Questions and Answers (Latest update 2024)CA PSI Site - Life, Accident and Health Agent examination (Life Agent) Exam Questions and Answers (Latest update 2024)