CALIFORNIA LIFE ACCIDENT AND HEALTH EXAM PRATICE QUESTIONS AND ANSWERS (LATEST 2024 – 2025) RATED A+-38

WHICH OF THE FOLLOWING IS TRUE ABOUT A STOCK INSURANCE COMPANY? AN INSURANCE COMPANY WHOSE HOME OFFICE IS IN SOME OTHER STATE, BUT DOES BUSINESS IN THIS STATE ANY INSURANCE COMPANY WHOSE HOME OFFICE IS IN THIS STATE AND IS INCORPORATED IN THIS STATE c THE COMPANY IS DIRECTED BY OFFICERS AND DIRECTORS AND HAS A STATED AMOUNT OF CAPITAL STOCK OWNED BY STOCKHOLDERS POLICYHOLDERS OWN THE INSURANCE COMPANY - CORRECT ANSWER: C THE COMPANY IS DIRECTED BY OFFICERS AND DIRECTORS AND HAS A STATED AMOUNT OF CAPITAL STOCK OWNED BY STOCKHOLDERS UNDER ALEATORY CONTRACTS THE EXCHANGE OF VALUES MAY BE: WAIVED INDEFINITE c EQUAL UNEQUAL - CORRECT ANSWER: D UNEQUAL IN INSURANCE, THE INSURER'S PROMISE TO PAY A COVERED LOSS AND DEFEND THE INSURED IN A LAWSUIT AND THE INSURED'S PAYMENT OF THE FIRST PREMIUM, ARE ALL EXAMPLES OF: LEGAL PURPOSE CONSIDERATION c ACCEPTANCE OFFER - CORRECT ANSWER: B CONSIDERATION THE DIRECT WRITING DISTRIBUTION MODEL UTILIZES: GENERAL BROKERS GENERAL AGENTS c INDEPENDENT AGENTS SALARIED EMPLOYEES - CORRECT ANSWER: D SALARIED EMPLOYEES IN INSURANCE, WHEN AN APPLICANT INTENTIONALLY FAILS TO MAKE A MATERIAL FACT KNOWN, rr IS KNOWN AS: BAD FAITH DECEPTION c MISREPRESENTATION CONCEALMENT - CORRECT ANSWER: D