Ca insurance - Study guides, Class notes & Summaries

CA Insurance License

TEXAS PROPERTY AND CASUALTY INSURANCE EXAM 2024 WITH 500 REAL EXAM PRACTICE QUESTIONS AND CORRECT ANSWERS/ ACTUAL TEXAS PROPERTY & CASUALTY INSURANCE EXAM ANSWERED (BRAND NEW!!)

PSI CA Insurance Test 2024 Questions with 100% Correct Answers | Updated & Verified

As used in this code the word "shall" is - ️️Mandatory (unless otherwise apparent) As used in this code the word "may" is - ️️permissive (unless otherwise apparent) "Oath" includes - ️️affirmation "Person" means - ️️person, association, organization, partnership, business trust, limited liability company, or corporation Definition of Insurance - ️️Insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising...

As used in this code the word "shall" is - ️️Mandatory (unless otherwise apparent) As used in this code the word "may" is - ️️permissive (unless otherwise apparent) "Oath" includes - ️️affirmation "Person" means - ️️person, association, organization, partnership, business trust, limited liability company, or corporation Definition of Insurance - ️️Insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising...

CA- PSI- Life, Accident & Health Exam With 100% Correct Answers 2023 Reduced Paid Up Nonforfeiture option provides new whole life policy at reduced face amount of protection. Provides coverage for longest time. Extended Term Nonforfeiture option provides new TERM policy with same face amount of coverage as original policy Guaranteed Lifetime Withdrawal Annuity rider that assures owner will at least get amount paid for the annuity Guaranteed Minimum Income Rider that gua...

PSI CA Insurance Test Questions with 100% Correct Answers | Latest Version 2024/2025 | Expert Verified | Ace the Test

Insurance A contract in which one party agrees to indemnify the insured party against loss, damage or liability from an unknown event. Insurance transfers The reduction, decrease, or disappearance of value of the person or property insured in a policy, caused by a named peril. Risk The uncertainty or chance of a loss occurring. Pure risk Situations that can only result in a loss or no change Speculative risk The opportunity for either loss loss or gain. Hazards Conditions or situations th...

Acceptance - When an insurer's underwriter approves the application and issues a policy Adverse selection - The insuring of risks that are more prone to losses than the average risk. Aleatory - An exchange of unequal amounts or values. "Ypu are not going to pay what you collect." Alien - Insurance company that is incorporated outside the United States Apparent authority - The appearance or assumption of authority based on the actions, words, or deeds of the principal or because of circu...