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CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C) ACTUAL EXAM 150 QUESTIONS AND CORRECT DETAILED ANSWERS Latest Update $13.49   Add to cart

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CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C) ACTUAL EXAM 150 QUESTIONS AND CORRECT DETAILED ANSWERS Latest Update

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What is meant by referring to an insurance policy as a unilateral contract? Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? At all times. Any situation that presents the possibil...

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  • November 15, 2024
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  • CA LIFE AND HEALTH INSURANCE
  • CA LIFE AND HEALTH INSURANCE
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CA LIFE AND HEALTH INSURANCE EXAM
3 LATEST VERSIONS (VERSION A, B AND
C) 2023-2024 ACTUAL EXAM 150
QUESTIONS AND CORRECT DETAILED
ANSWERS Latest Update
What is meant by referring to an insurance policy as a unilateral contract?

✓ Only one party makes a legally enforceable promise.



When must insurance records of insurance agents and brokers be made available to the

Insurance Commissioner?

✓ At all times.



Any situation that presents the possibility of a loss is known as

✓ a loss exposure



Which of the following information is not required to be communicated in a Life insurance

contract?

✓ Personal judgment.



The direct distribution of insurance utilizes all of the following to promote the sale of insurance

EXCEPT

✓ telephone call from an agent.



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A contract in which one party promises to indemnify another against loss that arises from an

unknown event is

✓ an insurance policy.



All of the occurrences listed below are examples of an insurable event as defined by the

California Insurance Code EXCEPT

✓ an insured suffers a financial loss in the state lottery



All of the following statements about aleatory contracts are true EXCEPT

✓ the insured and insurer contribute equally to the contract.



All of the following would be considered unfair trade practices EXCEPT

✓ committing any act of discrimination whether it be deemed fair or unfair.



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?

✓ Mary Brown Insurance Services.



A contract of indemnity is one in which

✓ one party is restored to the same financial position the party was in before the loss
occurred.




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In insurance terminology, "indemnity" means

✓ make whole.



As defined in the California insurance Code, "insurance" is a

✓ contract.



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?

✓ A misdemeanor



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?

✓ Fiduciary



Which of the following statements regarding risk is TRUE?

✓ Only pure risks are insurable.



The purchase of an insurance policy may accomplish all of the following for the insured

EXCEPT

✓ the elimination of risk.




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