CA Life & Health Insurance Exam
Question & Answers ( update)
Domestic, Foreign, and Alien - CORRECT ANSWERS
✅Insurers are classified according to their domicile. What
are the three types of insurers?
Agreement (offer and acceptance), consideration,
competent parties, and legal purpose - CORRECT
ANSWERS ✅What are the four elements of an
insurance contract?
hazards - CORRECT ANSWERS ✅Conditions that
increase the chance of a loss are known as what?
Send the application back to the applicant for signature -
CORRECT ANSWERS ✅If an agent fails to obtain the
applicant's signature on the insurance application, what
must the insurer do?
Insurer - CORRECT ANSWERS ✅In the agent/insurer
relationship, who is considered the principal?
Insurable interest and consent - CORRECT ANSWERS
✅What two elements are necessary for a life insurance
contract to have a legal purpose?
, CA Life & Health Insurance Exam
Question & Answers ( update)
authorized or admitted - CORRECT ANSWERS ✅If an
insurer meets the state's financial requirements and is
approved to transact business in the state, it is
considered what type of insurer?
Insurer - CORRECT ANSWERS ✅When agents act
within the scope of their contract, their actions will be
assumed to be the acts of whom?
express, implied, apparent - CORRECT ANSWERS
✅What are the three types of agent authority?
Fiduciary - CORRECT ANSWERS ✅The requirement
that agents must account for an promptly remit all
insurance funds collected is known as what type of agent
responsibility?
foreign - CORRECT ANSWERS ✅An insurance
company that is formed under the laws of another state is
known as what type of insurer?
Restriction of coverage, refusal to accept a risk, and
accepting a risk at a higher rate - CORRECT ANSWERS
✅What are the strategies used by underwriters to
prevent adverse selection?
Question & Answers ( update)
Domestic, Foreign, and Alien - CORRECT ANSWERS
✅Insurers are classified according to their domicile. What
are the three types of insurers?
Agreement (offer and acceptance), consideration,
competent parties, and legal purpose - CORRECT
ANSWERS ✅What are the four elements of an
insurance contract?
hazards - CORRECT ANSWERS ✅Conditions that
increase the chance of a loss are known as what?
Send the application back to the applicant for signature -
CORRECT ANSWERS ✅If an agent fails to obtain the
applicant's signature on the insurance application, what
must the insurer do?
Insurer - CORRECT ANSWERS ✅In the agent/insurer
relationship, who is considered the principal?
Insurable interest and consent - CORRECT ANSWERS
✅What two elements are necessary for a life insurance
contract to have a legal purpose?
, CA Life & Health Insurance Exam
Question & Answers ( update)
authorized or admitted - CORRECT ANSWERS ✅If an
insurer meets the state's financial requirements and is
approved to transact business in the state, it is
considered what type of insurer?
Insurer - CORRECT ANSWERS ✅When agents act
within the scope of their contract, their actions will be
assumed to be the acts of whom?
express, implied, apparent - CORRECT ANSWERS
✅What are the three types of agent authority?
Fiduciary - CORRECT ANSWERS ✅The requirement
that agents must account for an promptly remit all
insurance funds collected is known as what type of agent
responsibility?
foreign - CORRECT ANSWERS ✅An insurance
company that is formed under the laws of another state is
known as what type of insurer?
Restriction of coverage, refusal to accept a risk, and
accepting a risk at a higher rate - CORRECT ANSWERS
✅What are the strategies used by underwriters to
prevent adverse selection?
