Idaho Bail Bondsman Insurance Practice
Test with 100 Questions and Correct
Answers/ Idaho Bail Bondsman Insurance
Exam Prep
A domestic insurance companay: -CORRECTANSWER 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: -CORRECTANSWER underwrite the
risks of the parent owner.
What agreement is for laying the legal framework of the insurance business? -
CORRECTANSWER Insurance agent partnership agreement
True or False: An 'arrest' must be accompanied by physical restraint or handcuffs -
CORRECTANSWER 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? -
CORRECTANSWER This is known as booking
Is telling a partial true considered concealment? -CORRECTANSWER 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. -
CORRECTANSWER False
True or False: When forming an insurance contract, an invitation to treat or to make an
offer must come from the insurer. -CORRECTANSWER False
True or False: Counter offer is usually not possible in the process of negotiating an
insurance contract. -CORRECTANSWER False
With an aleatory contract, a party may receive: -CORRECTANSWER 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. -
CORRECTANSWER Adhesion
With a ______ contract the covenants to the contract may remain partially or completely
unfulfilled. -CORRECTANSWER Executory
Insurance contracts are ______, meaning the promise of a party is exchanged for a
specific act of another party. -CORRECTANSWER Unilateral
Test with 100 Questions and Correct
Answers/ Idaho Bail Bondsman Insurance
Exam Prep
A domestic insurance companay: -CORRECTANSWER 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: -CORRECTANSWER underwrite the
risks of the parent owner.
What agreement is for laying the legal framework of the insurance business? -
CORRECTANSWER Insurance agent partnership agreement
True or False: An 'arrest' must be accompanied by physical restraint or handcuffs -
CORRECTANSWER 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? -
CORRECTANSWER This is known as booking
Is telling a partial true considered concealment? -CORRECTANSWER 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. -
CORRECTANSWER False
True or False: When forming an insurance contract, an invitation to treat or to make an
offer must come from the insurer. -CORRECTANSWER False
True or False: Counter offer is usually not possible in the process of negotiating an
insurance contract. -CORRECTANSWER False
With an aleatory contract, a party may receive: -CORRECTANSWER 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. -
CORRECTANSWER Adhesion
With a ______ contract the covenants to the contract may remain partially or completely
unfulfilled. -CORRECTANSWER Executory
Insurance contracts are ______, meaning the promise of a party is exchanged for a
specific act of another party. -CORRECTANSWER Unilateral
