Alabama Life & Health Insurance
Exam / Comprehension Practice
Questions / Study Guide Newest
Actual Questions & Answers (A+
Guide Solution)
Save
Terms in this set (194)
, The possibility the painting you
bought might be a long-lost
masterpiece
Which of the
following would A speculative risk is one in which
be considered a there is a chance for either loss or
speculative gain. Example: Gambling, Casino's,
risk? Lottery, etc. All of the other
choices describe pure risk, where
there is no chance of gain, only a
chance of loss exists.
Which is the A mutual insurance company
proper term for
a company
owned by its
policy owners?
A producer who Always the insurer
is acting as an
agent is
representing:
, Authority
All of the All enforceable contracts must
following are include these characteristics: offer
elements of a and acceptance (agreement),
contract, considerations, competent parties,
except: and legal purpose. Authority is not
considered one of the elements of
a legal contract.
An individual warrants a fact stated
on the application
Each of the
following would
A warranted fact is one
be an element
guaranteed to be true. Although
in the definition
no statement on an application is
of fraud,
regarded as warranty, no fraud is
except:
involved if a statement is
guaranteed to be true.
, Intentional material
misrepresentation with the intent of
causing injury to another party
Examples of Withholding of known material
Fraud facts
A false statement on the
application that is material to the
acceptance of the risk
A company that An authorized Company
is licensed to
sell insurance in
a particular
state is:
Exam / Comprehension Practice
Questions / Study Guide Newest
Actual Questions & Answers (A+
Guide Solution)
Save
Terms in this set (194)
, The possibility the painting you
bought might be a long-lost
masterpiece
Which of the
following would A speculative risk is one in which
be considered a there is a chance for either loss or
speculative gain. Example: Gambling, Casino's,
risk? Lottery, etc. All of the other
choices describe pure risk, where
there is no chance of gain, only a
chance of loss exists.
Which is the A mutual insurance company
proper term for
a company
owned by its
policy owners?
A producer who Always the insurer
is acting as an
agent is
representing:
, Authority
All of the All enforceable contracts must
following are include these characteristics: offer
elements of a and acceptance (agreement),
contract, considerations, competent parties,
except: and legal purpose. Authority is not
considered one of the elements of
a legal contract.
An individual warrants a fact stated
on the application
Each of the
following would
A warranted fact is one
be an element
guaranteed to be true. Although
in the definition
no statement on an application is
of fraud,
regarded as warranty, no fraud is
except:
involved if a statement is
guaranteed to be true.
, Intentional material
misrepresentation with the intent of
causing injury to another party
Examples of Withholding of known material
Fraud facts
A false statement on the
application that is material to the
acceptance of the risk
A company that An authorized Company
is licensed to
sell insurance in
a particular
state is:
