Life accident health insurance Exam Questions & Answers 100% verified

The more times an event is repeated, the more predictable the outcome becomes. This is an example of - ANSWER-%1. the law of large numbers. Insurer expenses include all of the following EXCEPT - ANSWER-2. policy premiums. What rule is used to determine the importance of a representatio - ANSWER-• 3. The materiality of concealment. The increase in the probability of a loss resulting from an insured's dishon tendencies is known as - ANSWER-VO 3. moral hazard. A person who acts, offers to act, or assumes to act in a capacity where a licens REQUIRED without having a valid license, is guilty of a - ANSWER-e 3. misdemeanor. What recourse does an insurer have if violation of a material warranty on the pa the insured is discovered? - ANSWER-.4. Rescission of the policy. When used in the California Insurance Code, the word "may" is intended to be - ANSWER-V0 4. permissive. Which of the following statements regarding risk is TRUE? - ANSWER-following statements . 1. Only pure risks are insurable. What is it called when an insurer uses higher rates for an individual solely based on religion, race, or ethnic group? - ANSWER-.4. Unfair discrimination. Which of the following is a hazard? - ANSWER-.4 A condition that may increase the likelihood of a loss occurring The required contents of a policy include all of the following EXCEPT - ANSWER-3. the probability of loss