CLU Exam 2023

What is meant by referring to an insurance policy as a unilateral contract? - Correct Answer-only one party makes a legally enforceable promise When must insurance records of insurance agents and brokers be made available to the insurance commissioner? - Correct Answer-At all times. Any situation that presents the possibility of a loss is known as - Correct Answer-Loss exposure Which of the following information is not required to be communicated in a life insurance contract? - Correct Answer-personal judgment The direct distribution of Insurance utilizes all of the following to promote the sale of insurance except, - Correct Answer-Telephone call from an agent A contract in which one party promises to indemnify another against loss that arises from an unknown event is - Correct Answer-an insurance policy All of the occurrences listed below are examples of an insurable event as defined by the California Insurance Code EXCEPT - Correct Answer-An insured suffers a financial loss in the state lottery All of the following statements about aleatory contracts are true except - Correct Answer-The insured and insurer contribute equally to the contract All of the following would be considered unfair trade practices except - Correct AnswerCommitting any act of discrimination whether it be deemed fair or unfair As authorized by the California entrance code, the insurance