California Life, Accident, and Health Insurance Exam Practice () || All Questions and Answers (Verified) || Graded Exam A++

California Life, Accident, and Health Insurance
Exam Practice (2023 - 2024) All Questions and Answers
(Verified) / Graded Exam A++


1. JOHN IS THE AGENT FOR ABC INSURANCE AND JANE IS THE
INSURED. WHO IS THE PRINCIPAL IN THIS AGENCY RELATIONSHIP?
A
ABC INSURANCE
B
JOHN
C
JANE
D
NONE: A
ABC INSURANCE


2. A(N) INSURER IS AUTHORIZED TO WRITE
INSURANCE POLI- CIES IN A PARTICULAR STATE.
A
DOMESTIC



,B
NON-ADMITTED
C
FOREIGN
D
ADMITTED:
D ADMITTED


3. WHICH OF THE FOLLOWING IS CLASSIFIED AS AN INSURANCE
BRO- KER?
A
A PERSON WHO PLACES COVERAGE FOR HIS/HER OWN INSURANCE
B
A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF
AN INSURED
C
A PERSON IN THE HOME OFFICE WHO DOES NOT SOLICIT OUTSIDE OF
THE OFFICE
D
AN EMPLOYEE WHO NEGOTIATES INSURANCE CONTRACTS FOR HIS/HER
EMPLOYER: B
A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF
AN INSURED






,4. THE INSURANCE CONTRACT IS SAID TO BE A CONTRACT OF
UTMOST GOOD FAITH, BECAUSE:
A
CONCEALMENT OF KNOWN FACTS ON THE PART OF THE INSURED WILL
VOID THE CONTRACT
B
THE INSURER HAS DRAWN UP THE CONTRACT AND, THEREFORE, THERE
IS NO INTENT TO DECEIVE
C
EACH PARTY IS ENTITLED TO RELY UPON THE REPRESENTATIONS OF
THE OTHER THAT THERE IS NOTHING CONCEALED OR DISHONEST
D
THE INSURED MUST WARRANT THAT HIS/HER REPRESENTATIONS ARE
TRUE: C
EACH PARTY IS ENTITLED TO RELY UPON THE REPRESENTATIONS OF
THE OTHER THAT THERE IS NOTHING CONCEALED OR DISHONEST


5. WHICH OF THE FOLLOWING BEST DESCRIBES A CONTRACT OF
INDEM- NITY UNDER INSURANCE?
A
THE INSURED IS RESTORED TO THE SAME FINANCIAL CONDITION AS
PRIOR TO THE LOSS, WITH NO INTENT OF LOSS OR GAIN
B
THE INSURED INDEMNIFIES THE INSURER FOR ANY EXPENSES IN AD-
JUSTING THE LOSS


, C
THE INSURED SUSTAINS A LOSS AS A RESULT OF THE LOSS: A
THE INSURED IS RESTORED TO THE SAME FINANCIAL CONDITION
AS PRIOR TO THE LOSS, WITH NO INTENT OF LOSS OR GAIN


6. THE INSURED IS RESTORED TO A FINANCIAL CONDITION AS GOOD
AS, OR BETTER THAN, THE INSURED WAS BEFORE THE LOSS
INSURANCE IS USED TO PROVIDE COVERAGE WHEN
INSUR- ANCE IS NOT AVAILABLE FROM AN ADMITTED CARRIER.
A
FACULTATIVE
B
DOMESTIC
C
ALIEN
D