CALIFORNIA Life, Accident and Health
Final19
A moral hazard - ANSWERSis a dishonest person (lacking in morals)
A morale hazard - ANSWERSa careless person.
A peril - ANSWERSis a cause of loss
Pure risk - ANSWERSis insurable & includes only a chance of loss.
The highest premium - ANSWERSwould be found with a substandard risk classification.
Agent commissions - ANSWERSare an insurer expense
"Insurance" - ANSWERSis a contract that transfers risk from one party to another.
An "insurance policy" - ANSWERSis a written contract
Neglect to communicate that which a party knows is "concealment" - ANSWERSmay cause the
injured party
to rescind the policy
"Materiality" - ANSWERSis determined solely by the probable and reasonable influence of the
facts upon the part
,to whom the communication is due
The "materiality of concealment" - ANSWERSis the rule used to determine the importance of
the
misrepresentation.
An insurance policy - ANSWERSmust specify the parties between whom the contract is made
The financial rating of an insurer - ANSWERSis not required to be included in the insurance
policy
In a direct response marketing system - ANSWERSthe mail and/or internet is used to sell
policies, not agents
An insurance broker is a person who - ANSWERSfor compensation and on behalf of another
person, transacts
insurance.
An insurance agent is a person who - ANSWERSfor compensation, transacts insurance for the
insurer.
An insurance solicitor - ANSWERSis a person employed by an insurance agent or broker to aid in
insurance
transactions
A person can always use their legal name - ANSWERSto transact insurance
, The state may disapprove the use of any true or fictitious name except - ANSWERSa person's
legal name
An insurance agent or broker hires a third party to prepare their website - ANSWERSThe
insurance agent or
broker, not the third party, is responsible for the content of the website.
An admitted insurer - ANSWERSis an insurer entitled to transact business in this state
A mutual insurer - ANSWERSis owned by the policyholders and issues participating policies
The Insurance Commissioner in California - ANSWERSis elected by the people.
The Insurance Commissioner may serve - ANSWERSup to two (2) four-year terms
A mutual insurer must pay out - ANSWERSdividends at minimum annually.
An insurance policy - ANSWERSis a legal contract.
A representation in an insurance contract - ANSWERSis an implied warranty
Concealment, whether intentional or unintentional, entitles the injured party to -
ANSWERSrescind an insurance
contract.
Agents of insurers who utilize "direct response" marketing systems do not - ANSWERSconduct
personal
Final19
A moral hazard - ANSWERSis a dishonest person (lacking in morals)
A morale hazard - ANSWERSa careless person.
A peril - ANSWERSis a cause of loss
Pure risk - ANSWERSis insurable & includes only a chance of loss.
The highest premium - ANSWERSwould be found with a substandard risk classification.
Agent commissions - ANSWERSare an insurer expense
"Insurance" - ANSWERSis a contract that transfers risk from one party to another.
An "insurance policy" - ANSWERSis a written contract
Neglect to communicate that which a party knows is "concealment" - ANSWERSmay cause the
injured party
to rescind the policy
"Materiality" - ANSWERSis determined solely by the probable and reasonable influence of the
facts upon the part
,to whom the communication is due
The "materiality of concealment" - ANSWERSis the rule used to determine the importance of
the
misrepresentation.
An insurance policy - ANSWERSmust specify the parties between whom the contract is made
The financial rating of an insurer - ANSWERSis not required to be included in the insurance
policy
In a direct response marketing system - ANSWERSthe mail and/or internet is used to sell
policies, not agents
An insurance broker is a person who - ANSWERSfor compensation and on behalf of another
person, transacts
insurance.
An insurance agent is a person who - ANSWERSfor compensation, transacts insurance for the
insurer.
An insurance solicitor - ANSWERSis a person employed by an insurance agent or broker to aid in
insurance
transactions
A person can always use their legal name - ANSWERSto transact insurance
, The state may disapprove the use of any true or fictitious name except - ANSWERSa person's
legal name
An insurance agent or broker hires a third party to prepare their website - ANSWERSThe
insurance agent or
broker, not the third party, is responsible for the content of the website.
An admitted insurer - ANSWERSis an insurer entitled to transact business in this state
A mutual insurer - ANSWERSis owned by the policyholders and issues participating policies
The Insurance Commissioner in California - ANSWERSis elected by the people.
The Insurance Commissioner may serve - ANSWERSup to two (2) four-year terms
A mutual insurer must pay out - ANSWERSdividends at minimum annually.
An insurance policy - ANSWERSis a legal contract.
A representation in an insurance contract - ANSWERSis an implied warranty
Concealment, whether intentional or unintentional, entitles the injured party to -
ANSWERSrescind an insurance
contract.
Agents of insurers who utilize "direct response" marketing systems do not - ANSWERSconduct
personal
