California Laws and Ethics Pertinent to Insurance

The California Insurance Code defines "policy" as a(n) accepted offer promissory arrangement written contract written quotation - written contract A "policy" as described by the California Insurance Code is a written contract in which one party promises to indemnify another against loss that arises from an unknown event. The California Insurance Code allows an individual how many days to cancel a life policy for a full-refund? - Every policy of individual life insurance shall have a notice stating that after receipt of the policy by the owner, the policy may be returned by the owner for cancellation by delivering it or mailing it to the insurer or to the agent through whom it was purchased. This period shall not be less than 10 days nor more than 30 days. Which of the following acts is NOT a Federal offense committed by an insurance agent? Embezzlement Insurance fraud Misrepresentation on an insurance application