Idaho Bail Bondsman Insurance Practice
FINAL TEST BANK EXAM STUDY GUIDE//UPDATED
QUESTIONS AND 100% VERIFIED ANSWERS COMPLETE
ALREADY RATED A+.
A domestic insurance companay:
ans>> is incorporated in the state within which it is located. It is considered foreign in all other states.
A captive insurance company exists primarily to:
ans>> underwrite the risks of the parent owner.
What agreement is for laying the legal framework of the insurance business?
ans>> Insurance agent partnership agreement
True or False: An 'arrest' must be accompanied by physical restraint or handcuffs
ans>> False
What process or procedure involves the determination of a person's eligibility for release from custody
in exchange for the posting of a set amount of money?
ans>> This is known as booking
Is telling a partial true considered concealment?
, ans>> Yes because part of the truth was intentionally left out
True or False: According to the doctrine of representations, a statement is considered as invalid even if
the applicant honestly thought they were speaking the truth.
ans>> False
True or False: When forming an insurance contract, an invitation to treat or to make an offer must come
from the insurer.
ans>> False
True or False: Counter offer is usually not possible in the process of negotiating an insurance contract.
ans>> False
With an aleatory contract, a party may receive:
ans>> considerably more in value than what they have given up
With a _________ contract, only one party can draw up the contract in it's entirety.
ans>> Adhesion
With a ______ contract the covenants to the contract may remain partially or completely unfulfilled.
ans>> Executory
Insurance contracts are ______, meaning the promise of a party is exchanged for a specific act of
another party.
ans>> Unilateral
FINAL TEST BANK EXAM STUDY GUIDE//UPDATED
QUESTIONS AND 100% VERIFIED ANSWERS COMPLETE
ALREADY RATED A+.
A domestic insurance companay:
ans>> is incorporated in the state within which it is located. It is considered foreign in all other states.
A captive insurance company exists primarily to:
ans>> underwrite the risks of the parent owner.
What agreement is for laying the legal framework of the insurance business?
ans>> Insurance agent partnership agreement
True or False: An 'arrest' must be accompanied by physical restraint or handcuffs
ans>> False
What process or procedure involves the determination of a person's eligibility for release from custody
in exchange for the posting of a set amount of money?
ans>> This is known as booking
Is telling a partial true considered concealment?
, ans>> Yes because part of the truth was intentionally left out
True or False: According to the doctrine of representations, a statement is considered as invalid even if
the applicant honestly thought they were speaking the truth.
ans>> False
True or False: When forming an insurance contract, an invitation to treat or to make an offer must come
from the insurer.
ans>> False
True or False: Counter offer is usually not possible in the process of negotiating an insurance contract.
ans>> False
With an aleatory contract, a party may receive:
ans>> considerably more in value than what they have given up
With a _________ contract, only one party can draw up the contract in it's entirety.
ans>> Adhesion
With a ______ contract the covenants to the contract may remain partially or completely unfulfilled.
ans>> Executory
Insurance contracts are ______, meaning the promise of a party is exchanged for a specific act of
another party.
ans>> Unilateral
