California Life Insurance Exam Questions and Answers 100% Correct

A special characteristic of the insurance contract where equal value is not exchanged between parties is known asAleatory Life insurance contracts are these agreementsUnilateral What is the proper definition of a take it or leave it contract, written by an insurer:Adhesion The premium paid by the insured for an insurance policy is:Consideration The best example of a Peril is:Cause of loss An admitted insurer is:Approved to transact An Actuary:Works with statistics to establish premiums and is responsible for the company's financial soundness. A new Life-Only licensee will need to take continuing educations courses. The requirements are:24 hours during each 24-month licensing interval. Which of these would be a substandard risk?A person who may have less chance of surviving than the average. A person whose occupation would cause an increase in mortality hazard. A person whose hobby would cause an increase in mortality hazard. All of the Above. Rob, a licensed agent, is working under the authority of a Life Only Agent licensee. He may write which type of policies?Life. The best type of life insurance a person c