Louisiana bail bondsman insurance license exam review
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A domestic insurance company Is a domestic insurer within the United States
A captive insurance company exists primarily to Underwrite the risk of the parent owner
What agreement is for laying in the legal framework of Insurance agent partnership agreement
the insurance business?
And "arrest" must be accompanied by physical restraint False; an arrest is to occur when a person is taken into police custody, and there is
or handcuffs no longer free to leave with or without the use of escort strength or handcuffs
What process or procedure involves the determination of Booking
a person's eligibility for release from custody in exchange
for the posting of a set amount of money
Telling a partial truth is considered as Concealment True; Consumer is hiding telling a partial truth is considered as consuming since a
parcel truth has obviously left something out
According to the doctrine of representations, a statement False; According to the doctrine of representation, a statement is considered as
is considered as Invalid, even if the applicant honestly valid when the applicant honestly thought he was telling the truth
thought he was speaking the Truth
When forming an insurance contract and invitation to False when forming an insurance contract an invitation to treat or to make an offer
treat or to make an offer must come from the insurer may come from the insurer or the applicant when coming from the insure, it may
be through an advertising program
Counter offer is usually not possible if the process of False a counter offer is in an alternative proposal. It is possible in the process of
negotiating an insurance contract negotiating an insurance contract.
With an aleatory contract, a party may receive: Considerably more in valued than what he gives up
, With a _________ contract, only one party can draw up the Adhesion
contract in its entirety
With a _________ contract, the covenant to the contract may Executory
remain partially or completely
Insurance contracts are _______ , meaning the promise of a unilateral
party is exchanged for a specific act of another Party
All insurance contracts are conditional True, a condition is a contract provision which serves to limit the rights that are
supposed to be provided by the contract
What refers to an event that can cancel a right Condition subsequent
A breach of warranty can usually provide sufficient True, a warranty is usually considered guaranteed to be true. Once declared a
ground for voiding the contract warranty will become an actual part of the insurance contract. A breach of
warranty can usually provide sufficient ground for avoiding the contract.
In the context of insurance, the major elements of a In the context of insurance, the major elements of a contract include( Offer And
contract include(Choose all than apply) acceptance), Consideration, competent parties, and legal purpose
To avoid a contract due to Misrepresented information A misrepresentation can be an oral written statement that is false. To avoid a
provided by the insured, the information involve must be contract due to misrepresented information provided by the insured, the
information involve must be material.
Impersonation= (Choose the most accurate answer) False pretenses
Material misrepresentation (Choose all that apply) Material misrepresentation is a statement made during insurance application. Such
statement is so important that the insurance company would not agree to issue in
the policy. Had the truth been known
Policy cancellations are recessions are the same thing False policy cancellation and recessions are two different things latter voids a
policy from the Outset
A criminal suspect may be granted blank release such Own recognizance
that no bail money needs to be Paid and that no bond
needs to be posted
An insurance policy that does not constitute insurable Void and illegal
interest would be considered as
Adverse selection is said to exist when A risk insured is more likely than average and experiencing losses
Insurance underwriting is all about Classifying, rating and selecting risks
An insurance risk class is usually based on a large group Similar characteristics
of people with
Q&A
Save
Students also studied
PN Adult Medical Surgical Online Pr... Glaziers review test PN Adult Medical Surgical Online Pr... Exam 2
90 terms 124 terms 90 terms 308 term
sugarDee2 Preview Steph3797 Preview NicJean13 Preview mar
A domestic insurance company Is a domestic insurer within the United States
A captive insurance company exists primarily to Underwrite the risk of the parent owner
What agreement is for laying in the legal framework of Insurance agent partnership agreement
the insurance business?
And "arrest" must be accompanied by physical restraint False; an arrest is to occur when a person is taken into police custody, and there is
or handcuffs no longer free to leave with or without the use of escort strength or handcuffs
What process or procedure involves the determination of Booking
a person's eligibility for release from custody in exchange
for the posting of a set amount of money
Telling a partial truth is considered as Concealment True; Consumer is hiding telling a partial truth is considered as consuming since a
parcel truth has obviously left something out
According to the doctrine of representations, a statement False; According to the doctrine of representation, a statement is considered as
is considered as Invalid, even if the applicant honestly valid when the applicant honestly thought he was telling the truth
thought he was speaking the Truth
When forming an insurance contract and invitation to False when forming an insurance contract an invitation to treat or to make an offer
treat or to make an offer must come from the insurer may come from the insurer or the applicant when coming from the insure, it may
be through an advertising program
Counter offer is usually not possible if the process of False a counter offer is in an alternative proposal. It is possible in the process of
negotiating an insurance contract negotiating an insurance contract.
With an aleatory contract, a party may receive: Considerably more in valued than what he gives up
, With a _________ contract, only one party can draw up the Adhesion
contract in its entirety
With a _________ contract, the covenant to the contract may Executory
remain partially or completely
Insurance contracts are _______ , meaning the promise of a unilateral
party is exchanged for a specific act of another Party
All insurance contracts are conditional True, a condition is a contract provision which serves to limit the rights that are
supposed to be provided by the contract
What refers to an event that can cancel a right Condition subsequent
A breach of warranty can usually provide sufficient True, a warranty is usually considered guaranteed to be true. Once declared a
ground for voiding the contract warranty will become an actual part of the insurance contract. A breach of
warranty can usually provide sufficient ground for avoiding the contract.
In the context of insurance, the major elements of a In the context of insurance, the major elements of a contract include( Offer And
contract include(Choose all than apply) acceptance), Consideration, competent parties, and legal purpose
To avoid a contract due to Misrepresented information A misrepresentation can be an oral written statement that is false. To avoid a
provided by the insured, the information involve must be contract due to misrepresented information provided by the insured, the
information involve must be material.
Impersonation= (Choose the most accurate answer) False pretenses
Material misrepresentation (Choose all that apply) Material misrepresentation is a statement made during insurance application. Such
statement is so important that the insurance company would not agree to issue in
the policy. Had the truth been known
Policy cancellations are recessions are the same thing False policy cancellation and recessions are two different things latter voids a
policy from the Outset
A criminal suspect may be granted blank release such Own recognizance
that no bail money needs to be Paid and that no bond
needs to be posted
An insurance policy that does not constitute insurable Void and illegal
interest would be considered as
Adverse selection is said to exist when A risk insured is more likely than average and experiencing losses
Insurance underwriting is all about Classifying, rating and selecting risks
An insurance risk class is usually based on a large group Similar characteristics
of people with
