12 - California Laws and Ethics Pertinent to Insurance 55 Questions with 100% Correct Answers | Verified | Updated 2024

Anyone employed in California to assist an insurance agent in transacting insurance is called an insurance - ️️solicitor a life agent who has misappropriated fiduciary funds to his own use. What is Pete guilty of? - ️️Theft According to the California Insurance Code, what is "insurance"? - ️️A contract A person who asserts a right of recovery under an insurance policy is called - ️️claimant According to the California Insurance Code, what term is used to describe a fact so important it could affect the policy premium? - ️️Materiality Why is a life insurance policy's delivery date important? - ️️The free-look period begins on the policy delivery date What does the term "indemnity" mean as it pertains to insurance? - ️️To make whole Which of the following does the California Insurance Code NOT require an insurance policy to specify? - ️️Insurer's financial rating When handling premiums for an insured, an agent is acting in which capacity? - ️️Fiduciary