California Life Accident and Health Exam Practice
with 352questions and answers latest update
2024/2025 GRADED A+
a
abc insurance - correct answers john is the agent for abc insurance and jane is the insured.
who is the principal in this agency relationship?
a
abc insurance
b
john
c
jane
d
none
d
admitted - correct answers a(n) ________ insurer is authorized to write insurance policies in a
particular state.
a
domestic
b
non-admitted
c
,foreign
d
admitted
b
a person who negotiates insurance contracts on behalf of an insured - correct answers which
of the following is classified as an insurance broker?
a
a person who places coverage for his/her own insurance
b
a person who negotiates insurance contracts on behalf of an insured
c
a person in the home office who does not solicit outside of the office
d
an employee who negotiates insurance contracts for his/her employer
c
each party is entitled to rely upon the representations of the other that there is nothing
concealed or dishonest - correct answers the insurance contract is said to be a contract of
utmost good faith, because:
a
concealment of known facts on the part of the insured will void the contract
b
the insurer has drawn up the contract and, therefore, there is no intent to deceive
c
each party is entitled to rely upon the representations of the other that there is nothing
concealed or dishonest
d
,the insured must warrant that his/her representations are true
a
the insured is restored to the same financial condition as prior to the loss, with no intent of loss
or gain - correct answers which of the following best describes a contract of indemnity under
insurance?
a
the insured is restored to the same financial condition as prior to the loss, with no intent of loss
or gain
b
the insured indemnifies the insurer for any expenses in adjusting the loss
c
the insured sustains a loss as a result of the loss
d
surplus - correct answers the insured is restored to a financial condition as good as, or better
than, the insured was before the loss
___________ insurance is used to provide coverage when insurance is not available from an
admitted carrier.
a
facultative
b
domestic
c
alien
d
surplus
c
, pure risk - correct answers which of the following risks is protected by insurance?
a
certain risk
b
speculative risk
c
pure risk
d
involuntary risk
a
when one takes action to minimize the severity of a potential loss - correct answers a good
example of risk reduction might be:
a
when one takes action to minimize the severity of a potential loss
b
the elimination of the exposure to a specific risk
c
the transfer of the risk to an insurance company
d
insuring only those risks that threaten the financial stability of the insured
b
admitted - correct answers an insurer that is authorized to do business in a particular state is
said to be:
a
non-admitted
b
with 352questions and answers latest update
2024/2025 GRADED A+
a
abc insurance - correct answers john is the agent for abc insurance and jane is the insured.
who is the principal in this agency relationship?
a
abc insurance
b
john
c
jane
d
none
d
admitted - correct answers a(n) ________ insurer is authorized to write insurance policies in a
particular state.
a
domestic
b
non-admitted
c
,foreign
d
admitted
b
a person who negotiates insurance contracts on behalf of an insured - correct answers which
of the following is classified as an insurance broker?
a
a person who places coverage for his/her own insurance
b
a person who negotiates insurance contracts on behalf of an insured
c
a person in the home office who does not solicit outside of the office
d
an employee who negotiates insurance contracts for his/her employer
c
each party is entitled to rely upon the representations of the other that there is nothing
concealed or dishonest - correct answers the insurance contract is said to be a contract of
utmost good faith, because:
a
concealment of known facts on the part of the insured will void the contract
b
the insurer has drawn up the contract and, therefore, there is no intent to deceive
c
each party is entitled to rely upon the representations of the other that there is nothing
concealed or dishonest
d
,the insured must warrant that his/her representations are true
a
the insured is restored to the same financial condition as prior to the loss, with no intent of loss
or gain - correct answers which of the following best describes a contract of indemnity under
insurance?
a
the insured is restored to the same financial condition as prior to the loss, with no intent of loss
or gain
b
the insured indemnifies the insurer for any expenses in adjusting the loss
c
the insured sustains a loss as a result of the loss
d
surplus - correct answers the insured is restored to a financial condition as good as, or better
than, the insured was before the loss
___________ insurance is used to provide coverage when insurance is not available from an
admitted carrier.
a
facultative
b
domestic
c
alien
d
surplus
c
, pure risk - correct answers which of the following risks is protected by insurance?
a
certain risk
b
speculative risk
c
pure risk
d
involuntary risk
a
when one takes action to minimize the severity of a potential loss - correct answers a good
example of risk reduction might be:
a
when one takes action to minimize the severity of a potential loss
b
the elimination of the exposure to a specific risk
c
the transfer of the risk to an insurance company
d
insuring only those risks that threaten the financial stability of the insured
b
admitted - correct answers an insurer that is authorized to do business in a particular state is
said to be:
a
non-admitted
b
