California Life Insurance Exam | Questions with
100% correct answers | verified
Only one party makes a legally enforceable promise - ANSWER-What
is meant by referring to an insurance policy as a unilateral contract?
At all times - ANSWER-When must insurance records of insurance
agents and brokers be made available to the Insurance
Commissioner?
a loss exposure - ANSWER-Any situation that presents the possibility
of a loss is known as
Personal judgment - ANSWER-Which of the following information is
not required to be communicated in a Life insurance contract?
telephone call from an agent - ANSWER-The direct distribution of
insurance utilizes all of the following to promote the sale of
insurance EXCEPT
an insurance policy - ANSWER-A contract in which one party
promises to indemnify another against loss that arises from an
unknown event is
an insured suffers a financial loss in the state lottery - ANSWER-All of
the occurrences listed below are examples of an insurable event as
defined by the California Insurance Code EXCEPT
the insured and insurer contribute equally to the contract - ANSWER-
All of the following statements about aleatory contracts are true
EXCEPT
, California Life Insurance Exam | Questions with
100% correct answers | verified
committing any act of discrimination whether it be deemed fair or
unfair - ANSWER-All of the following would be considered unfair
trade practices EXCEPT
Mary Brown Insurance Services - ANSWER-As authorized by the
California Insurance Code, the Insurance Commissioner has
provided standards for names used by life insurance agents. Under
these standards which, if any, of the following are automatically
acceptable for Mary Brown, a holder of the CLU designation
one party is restored to the same financial position the party was in
before the loss occurred - ANSWER-A contract of indemnity is one in
which
make whole - ANSWER-In insurance terminology, "indemnity" means
contract - ANSWER-As defined in the California insurance Code,
"insurance" is a
A misdemeanor - ANSWER-What would a person be guilty of who
refuses to deliver any books, records, or assets to the commissioner
once a seizure order has been executed?
Fiduciary - ANSWER-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?
, California Life Insurance Exam | Questions with
100% correct answers | verified
Only pure risks are insurable - ANSWER-Which of the following
statements regarding risk is TRUE?
the elimination of risk - ANSWER-The purchase of an insurance
policy may accomplish all of the following for the insured EXCEPT
indemnity - ANSWER-Insureds are entitled to recover an amount
NOT greater than the amount of their loss under the principle of
The materiality of concealment - ANSWER-What rule is used to
determine the importance of a representation?
the probability of loss - ANSWER-The required contents of a policy
include all of the following EXCEPT
increases the unearned premium reserve - ANSWER-All of the
following are characteristics of reinsurance EXCEPT it
financial rating of the insurer - ANSWER-According to the California
Insurance Code, an insurance policy must specify all of the following
EXCEPT the
misdemeanor charges filed, not resulting in a conviction - ANSWER-
All of the following qualify as "background information" as defined in
Section 1729.2 of the California Insurance Code, EXCEPT
100% correct answers | verified
Only one party makes a legally enforceable promise - ANSWER-What
is meant by referring to an insurance policy as a unilateral contract?
At all times - ANSWER-When must insurance records of insurance
agents and brokers be made available to the Insurance
Commissioner?
a loss exposure - ANSWER-Any situation that presents the possibility
of a loss is known as
Personal judgment - ANSWER-Which of the following information is
not required to be communicated in a Life insurance contract?
telephone call from an agent - ANSWER-The direct distribution of
insurance utilizes all of the following to promote the sale of
insurance EXCEPT
an insurance policy - ANSWER-A contract in which one party
promises to indemnify another against loss that arises from an
unknown event is
an insured suffers a financial loss in the state lottery - ANSWER-All of
the occurrences listed below are examples of an insurable event as
defined by the California Insurance Code EXCEPT
the insured and insurer contribute equally to the contract - ANSWER-
All of the following statements about aleatory contracts are true
EXCEPT
, California Life Insurance Exam | Questions with
100% correct answers | verified
committing any act of discrimination whether it be deemed fair or
unfair - ANSWER-All of the following would be considered unfair
trade practices EXCEPT
Mary Brown Insurance Services - ANSWER-As authorized by the
California Insurance Code, the Insurance Commissioner has
provided standards for names used by life insurance agents. Under
these standards which, if any, of the following are automatically
acceptable for Mary Brown, a holder of the CLU designation
one party is restored to the same financial position the party was in
before the loss occurred - ANSWER-A contract of indemnity is one in
which
make whole - ANSWER-In insurance terminology, "indemnity" means
contract - ANSWER-As defined in the California insurance Code,
"insurance" is a
A misdemeanor - ANSWER-What would a person be guilty of who
refuses to deliver any books, records, or assets to the commissioner
once a seizure order has been executed?
Fiduciary - ANSWER-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?
, California Life Insurance Exam | Questions with
100% correct answers | verified
Only pure risks are insurable - ANSWER-Which of the following
statements regarding risk is TRUE?
the elimination of risk - ANSWER-The purchase of an insurance
policy may accomplish all of the following for the insured EXCEPT
indemnity - ANSWER-Insureds are entitled to recover an amount
NOT greater than the amount of their loss under the principle of
The materiality of concealment - ANSWER-What rule is used to
determine the importance of a representation?
the probability of loss - ANSWER-The required contents of a policy
include all of the following EXCEPT
increases the unearned premium reserve - ANSWER-All of the
following are characteristics of reinsurance EXCEPT it
financial rating of the insurer - ANSWER-According to the California
Insurance Code, an insurance policy must specify all of the following
EXCEPT the
misdemeanor charges filed, not resulting in a conviction - ANSWER-
All of the following qualify as "background information" as defined in
Section 1729.2 of the California Insurance Code, EXCEPT
