WFG Exam Questions & Answers | 280 Questions with 100% Correct Answers | Latest Update | Verified | 27 Pages

What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a legally enforceable promise when must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - At all time Any situation that presents that possibility of a loss is known as - a loss exposure Which of the following information is not required to be communicated in a Life insurance contract? - Personal judgement the direct distribution of insurance utilizes all of the following to promote the sale of insurance EXCEPT - telephone call from an agent A contract in which one party promises to indemnify another against loss that arises from an unknown event is - an insurance policy All of the occurrences listed below are example of an insurable event as defined by the California Insurance Code EXCEPT - an insured suffers a financial loss in the state lottery All of the following statements about aleatory contracts are true EXCEPT - the insured and insurer contribute equally to the contract All of the following would be considered unfair trade practices EXCEPT - committing any act of discrimination whether it be deemed fair or unfair