California Life, Accident & Health Exam
Mastery – Practice to Pass with
Confidence
A
ABC INSURANCE - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-WHICH OF THE FOLLOWING RISKS IS PROTECTED BY
INSURANCE?
A
CERTAIN RISK
B
SPECULATIVE RISK
C
PURE RISK
D
Mastery – Practice to Pass with
Confidence
A
ABC INSURANCE - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-WHICH OF THE FOLLOWING RISKS IS PROTECTED BY
INSURANCE?
A
CERTAIN RISK
B
SPECULATIVE RISK
C
PURE RISK
D
