CALIFORNIA PSI LIFE, ACCIDENT, AND HEALTH (LIFE AGENT) LATEST
2025 REAL EXAM COMPLETE EXAM — \UPDATED QUESTIONS WITH
VERIFIED CORRECT ANSWERS | SCORED A+
what is meant by referring to an insurance policy as a unilateral contract? - - ANS - -
only one party makes a legal enforceable promise
when must insurance records of insurance agents and brokers be made available to
the Insurance Commissioner? - - ANS - -at all times
any situation that presents the possibility of a loss is known as what - - ANS - -a loss
exposure
which of the following information is not required to be communicated in a life
insurance contract? - - ANS - -personal judgement
the direct distribution of insurance utilizes all of the following to promote the sale of
insurance EXCEPT - - ANS - -telephone call from an agent
a contract in which one part promises to identify another against loss that arises
from an unknown event is - - ANS - -an insurance policy
all of the occurrences listed below are examples of an insurable event as defined by
the California insurance code EXCEPT - - ANS - -an insured suffers financial loss in
the state lottery
,all of the following statements about aleatory contracts are true EXCEPT - - ANS - -
the insured and insurer contribute equally to the contract
all of the following would be considered unfair trade practices EXCEPT - - ANS - -
committing any act of discrimination whether it be deemed fair or unfair
As authorized by the California Insurance Code, the Insurance Commissioner has
provided standards for names used by life insurance agents. Under these standards
which, if any, of the following are automatically acceptable for Mary Brown, a holder
of the CLU designation? - - ANS - -Mary brown insurance servies
a contract of indemnity is one in which - - ANS - -One party is restored to the same
financial position the party was in before the loss occurred
In insurance terminology, "indemnity" means - - ANS - -make whole
As defined in the California insurance Code, "insurance" is a - - ANS - -contract
What would a person be guilty of who refuses to deliver any books, records, or assets
to the commissioner once a seizure order has been executed? - - ANS - -a
misdemeanor
An agent who is acting as an insurance agent, broker, solicitor, life agent, accident
and health, or bail agent acts in which capacity when handling premiums or return
premiums for an insured? - - ANS - -fiduciary
, which of the following statement regarding risk is TRUE - - ANS - -only pure risks are
insurable
The purchase of an insurance policy may accomplish all of the following for the
insured EXCEPT - - ANS - -the elimination of risk
Insureds are entitled to recover an amount NOT greater than the amount of their loss
under the principle of - - ANS - -indemnity
what rule is used to determine the importance of a representation? - - ANS - -the
materiality of concealment
the required contents of a policy include all of the following EXCEPT - - ANS - -the
possibility of loss
all of the following are characteristics of reinsurance EXCEPT - - ANS - -increases
the unearned premium reserve
according to the California insurance code, an insurance policy must specify all of the
following EXEPT the - - ANS - -financial rating of the insurer
All of the following qualify as "background information" as defined in Section 1729.2 of
the California Insurance Code, EXCEPT - - ANS - -misdemeanor charges filed, not
resulting in conviction
2025 REAL EXAM COMPLETE EXAM — \UPDATED QUESTIONS WITH
VERIFIED CORRECT ANSWERS | SCORED A+
what is meant by referring to an insurance policy as a unilateral contract? - - ANS - -
only one party makes a legal enforceable promise
when must insurance records of insurance agents and brokers be made available to
the Insurance Commissioner? - - ANS - -at all times
any situation that presents the possibility of a loss is known as what - - ANS - -a loss
exposure
which of the following information is not required to be communicated in a life
insurance contract? - - ANS - -personal judgement
the direct distribution of insurance utilizes all of the following to promote the sale of
insurance EXCEPT - - ANS - -telephone call from an agent
a contract in which one part promises to identify another against loss that arises
from an unknown event is - - ANS - -an insurance policy
all of the occurrences listed below are examples of an insurable event as defined by
the California insurance code EXCEPT - - ANS - -an insured suffers financial loss in
the state lottery
,all of the following statements about aleatory contracts are true EXCEPT - - ANS - -
the insured and insurer contribute equally to the contract
all of the following would be considered unfair trade practices EXCEPT - - ANS - -
committing any act of discrimination whether it be deemed fair or unfair
As authorized by the California Insurance Code, the Insurance Commissioner has
provided standards for names used by life insurance agents. Under these standards
which, if any, of the following are automatically acceptable for Mary Brown, a holder
of the CLU designation? - - ANS - -Mary brown insurance servies
a contract of indemnity is one in which - - ANS - -One party is restored to the same
financial position the party was in before the loss occurred
In insurance terminology, "indemnity" means - - ANS - -make whole
As defined in the California insurance Code, "insurance" is a - - ANS - -contract
What would a person be guilty of who refuses to deliver any books, records, or assets
to the commissioner once a seizure order has been executed? - - ANS - -a
misdemeanor
An agent who is acting as an insurance agent, broker, solicitor, life agent, accident
and health, or bail agent acts in which capacity when handling premiums or return
premiums for an insured? - - ANS - -fiduciary
, which of the following statement regarding risk is TRUE - - ANS - -only pure risks are
insurable
The purchase of an insurance policy may accomplish all of the following for the
insured EXCEPT - - ANS - -the elimination of risk
Insureds are entitled to recover an amount NOT greater than the amount of their loss
under the principle of - - ANS - -indemnity
what rule is used to determine the importance of a representation? - - ANS - -the
materiality of concealment
the required contents of a policy include all of the following EXCEPT - - ANS - -the
possibility of loss
all of the following are characteristics of reinsurance EXCEPT - - ANS - -increases
the unearned premium reserve
according to the California insurance code, an insurance policy must specify all of the
following EXEPT the - - ANS - -financial rating of the insurer
All of the following qualify as "background information" as defined in Section 1729.2 of
the California Insurance Code, EXCEPT - - ANS - -misdemeanor charges filed, not
resulting in conviction
