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CA Life Insurance Exam ||Verified Exam!!|| Most
Recent Exam Actual Complete Real Exam Questions
And Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success | Newest Exam!!!
An agent who is acting as an insurance agent, broker,
solicitor, life agent, accident and health, or bail agent acts
in which capacity when handling premiums or return
premiums for an insured? - Answer-Fiduciary
Which of the following statements regarding risk is TRUE?
- Answer-Only pure risks are insurable.
The purchase of an insurance policy may accomplish all of
the following for the insured EXCEPT - Answer-the
elimination of risk.
Insureds are entitled to recover an amount NOT greater
than the amount of their loss under the principle of -
Answer-indemnity.
What rule is used to determine the importance of a
representation? - Answer-The materiality of concealment.
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The required contents of a policy include all of the
following EXCEPT - Answer-the probability of loss
All of the following are characteristics of reinsurance
EXCEPT it - Answer-increases the unearned premium
reserve.
According to the California Insurance Code, an insurance
policy must specify all of the following EXCEPT the -
Answer-financial rating of the insurer.
All of the following qualify as "background information" as
defined in Section 1729.2 of the California Insurance
Code, EXCEPT - Answer-misdemeanor charges filed, not
resulting in a conviction.
Loss retention is an effective risk management technique
when all of the following conditions exist EXCEPT the -
Answer-probability of loss is unknown.
A situation in which there is a possibility of loss or a gain is
a - Answer-speculative risk.
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Why is having a large number of similar exposure units
important to insurers? - Answer-The greater the number
insured, the more accurately the insurer can predict losses
and set appropriate premiums.
All of the following are benefits of insurance EXCEPT it -
Answer-eliminates fraudulent losses.
Who are members of the Medical information Bureau? -
Answer-Life and health insurers.
The process by which an insurer decides whether to issue
requested insurance is called - Answer-underwriting.
Unless it is merely a statement of an expectation or belief,
a representation as to the future is considered which of the
following? - Answer-Promise
Upon notification of a claim, a claimant must be given
access to the California Fair Claims Settlement Practices
resolution by all of the following means EXCEPT - Answer-
by interview appointment with the agent of record.
CA Life Insurance Exam ||Verified Exam!!|| Most
Recent Exam Actual Complete Real Exam Questions
And Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success | Newest Exam!!!
An agent who is acting as an insurance agent, broker,
solicitor, life agent, accident and health, or bail agent acts
in which capacity when handling premiums or return
premiums for an insured? - Answer-Fiduciary
Which of the following statements regarding risk is TRUE?
- Answer-Only pure risks are insurable.
The purchase of an insurance policy may accomplish all of
the following for the insured EXCEPT - Answer-the
elimination of risk.
Insureds are entitled to recover an amount NOT greater
than the amount of their loss under the principle of -
Answer-indemnity.
What rule is used to determine the importance of a
representation? - Answer-The materiality of concealment.
,2|Page
The required contents of a policy include all of the
following EXCEPT - Answer-the probability of loss
All of the following are characteristics of reinsurance
EXCEPT it - Answer-increases the unearned premium
reserve.
According to the California Insurance Code, an insurance
policy must specify all of the following EXCEPT the -
Answer-financial rating of the insurer.
All of the following qualify as "background information" as
defined in Section 1729.2 of the California Insurance
Code, EXCEPT - Answer-misdemeanor charges filed, not
resulting in a conviction.
Loss retention is an effective risk management technique
when all of the following conditions exist EXCEPT the -
Answer-probability of loss is unknown.
A situation in which there is a possibility of loss or a gain is
a - Answer-speculative risk.
, 3|Page
Why is having a large number of similar exposure units
important to insurers? - Answer-The greater the number
insured, the more accurately the insurer can predict losses
and set appropriate premiums.
All of the following are benefits of insurance EXCEPT it -
Answer-eliminates fraudulent losses.
Who are members of the Medical information Bureau? -
Answer-Life and health insurers.
The process by which an insurer decides whether to issue
requested insurance is called - Answer-underwriting.
Unless it is merely a statement of an expectation or belief,
a representation as to the future is considered which of the
following? - Answer-Promise
Upon notification of a claim, a claimant must be given
access to the California Fair Claims Settlement Practices
resolution by all of the following means EXCEPT - Answer-
by interview appointment with the agent of record.
