Examfx life and health - Study guides, Class notes & Summaries

EXAMFX LIFE AND HEALTH EXAM NEWEST ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWER1

According to the California Insurance Code, an "Insurance broker" is - ANSWER-compensated for transacting insurance on behalf of another person with an insurer. The California Code of Regulations governing claim settlement practices prohibits all of the following acts of unfair discrimination EXCEPT denial of claim based on - ANSWER-Reckless behavior If an insurer must have its raters accepted by the insurance department prior to using them, the insurer would be operating in which of the...

What are the three main instances when insurable interes exists in life insurance? correct answer: -Insuring your own life -the life of a family member -or the life of a business partner or someone who has a financial obligation to the policyowner What document describes the specific authority about a policy? correct answer: Policy summary Who must have insurable interest in the insured? correct answer: The policyowner If an applicant for a life insurance policy and the potential i...

1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering The Policy Exam Questions and Answers 100% Pass What two elements are necessary to a life insurance contract to have a legal purpose? - Answer- 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Answer- Loss What Type of Risk is Insurable? - Answer- Pure What is the term for the causes of loss insured against in a insurance policy? - Answer- P...

All of the following long-term care coverages would allow an insured to receive care at home EXCEPT a. Skilled Care b. Custodial care in insured's house c. Respite care d. Home health care - a. What is the purpose of a suicide provision within a life insurance policy? - To protect the insurer from persons who purchase life insurance with the intention of committing suicide Which of the following is not true of Disability Buy-Sell coverage ? a. it is typically written to cover partners o...

EXAMFX LIFE AND HEALTH EXAM NEWEST ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWER1

1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering The Policy Exam Questions and Answers 100% Pass What two elements are necessary to a life insurance contract to have a legal purpose? - Answer- 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Answer- Loss What Type of Risk is Insurable? - Answer- Pure What is the term for the causes of loss insured against in a insurance policy? - Answer- P...

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 Fai...

EXAMFX LIFE AND HEATH ACTUAL EXAM NEWEST WITH COMPLETE 100 QUESTIONS AND CORRECT VERIFIED ANSWERS (WITH RATIONALES) |2025 EXAMFX LIFE AND HEALTH (BRAND NEW) An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy? (Choose from the following options) 1. $20,000 2. $25,000 3. $50,000 4. The face amount ...

1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering The Policy Exam Questions and Answers 100% Pass What two elements are necessary to a life insurance contract to have a legal purpose? - Answer- 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Answer- Loss What Type of Risk is Insurable? - Answer- Pure What is the term for the causes of loss insured against in a insurance policy? - Answer- P...