The insurance policy ca - Study guides, Class notes & Summaries

CA PSI-Life, Accident, And Health Or Sickness Practice Exam Questions And Answers Which of the following is TRUE of a point of service plan A patient's care is coordinated by an in-network primary care physician. In a Level term life policy, which always remains constant ? death benefit which part of an insurance contract contains the promise to pay losses covered by the policy in exchange for the insureds premium and compliance with policy terms ? insuring clause

CA LIFE INSURANCE PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS A key person is typically all of the following, except: - correct answer -Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have direct respo...

CA PSI-Life, Accident, And Health Or Sickness Practice Exam Questions With 100% Correct Answers Which of the following is TRUE of a point of service plan A patient's care is coordinated by an in-network primary care physician. In a Level term life policy, which always remains constant ? death benefit which part of an insurance contract contains the promise to pay losses covered by the policy in exchange for the insureds premium and compliance with policy terms ? insuring clause

Which of the following would be considered a speculative risk? - correct answer The possibility the painting you bought might be a long-lost masterpiece A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. Which is the proper term for a company owned by its policy owners? - correct answer A mutual insurance company...

CA Life Insurance Practice Exam Questions and Answers 100% Pass A key person is typically all of the following, except: - Correct Answer ️️ --Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have dire...

Auto insurance Practice test Questions And Answers What type of coverage is provided by an inland marine policy? - ANS Open or all risk coverage - Inland marine policies have only a few limited exclusions. Any person who transacts insurance without a valid license is: - ANS Guilty of a misdemeanor, Subject to a fine not exceeding $50,000 and/or imprisonment, Subject to imprisonment in county jail for a period not exceeding one year. For homes subject to the state & defensible s...

Insurance correct answer: Contract whereby one undertakes to indemnify another against loss, damage, or liabilty arising from a unknown event. Insurer correct answer: Any person capable of making a contract; subject to restrictions imposed by the CA insurance code. Speculative risk correct answer: Chance of loss and potential for gain. This risk is not insurable. Hazard correct answer: Increase the risk. Law of Large numbers correct answer: The more similar risks the better they...

What course of action does a party to a contract have if the other party is found to be in breach of that contract? - Answer-Damages for breach, reasonable attorney fees, and costs. A representation in an insurance contract qualifies as of the following? - Answer-implied warranty What does it mean if an agent's license is inactive? - Answer-the agent cannot transact any insurance business for which is valid, active license is required In the State of CA, no rate will remain in effect if it...

CA Life Insurance Practice Exam with Verified Solutions A key person is typically all of the following, except: -Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have direct responsibilities for sales, pr...

CA State Life Insurance Practice Exam A Already Passed An annuity that is purchased with a slump sum premium and whose benefits begin after 12 month is called a Single premium deferred annuity A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured is called the Human Life Value Approach When replacing a policy the producer must present the applicant with a Notice Regarding Replacement of Life Insurance At the time of ...