Life and Health License Exam Questions with solved solutions

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