California Life Accident and Health Exam Practice Already Passed

California Life Accident and Health Exam Practice Already Passed A Abc insurance - answer ️️ -john is the agent for abc insurance and jane is the insured. Who is the principal in this agency relationship? A Abc insurance B John C Jane D None D Admitted - answer ️️ -a(n) ________ insurer is authorized to write insurance policies in a particular state. A Domestic B Non-admitted C Foreign D Admitted B A person who negotiates insurance contracts on behalf of an insured - answer ️️ -which of the following is classified as an insurance broker? A A person who places coverage for his/her own insurance B A person who negotiates insurance contracts on behalf of an insured C A person in the home office who does not solicit outside of the office D An employee who negotiates insurance contracts for his/her employer C Each party is entitled to rely upon the representations of the other that there is nothing concealed or dishonest - answer ️️ -the insurance contract is said to be a contract of utmost good faith, because: A Concealment of known facts on the part of the insured will void the contract B The insurer has drawn up the contract and, therefore, there is no intent to deceive C Each party is entitled to rely upon the representations of the other that there is nothing concealed or dishonest D The insured must warrant that his/her representations are true A The insured is restored to the same financial condition as prior to the loss, with no intent of loss or gain - answer ️️ -which of the following best describes a contract of indemnity under insurance? A The insured is restored to the same financial condition as prior to the loss, with no intent of loss or gain B The insured indemnifies the insurer for any expenses in adjusting the loss C The insured sustains a loss as a result of the loss D Surplus - answer ️️ -the insured is restored to a financial condition as good as, or better than, the insured was before the loss ___________ insurance is used to provide coverage when insurance is not available from an admitted carrier. A Facultative B Domestic C Alien D Surplus C Pure risk - answer ️️ -which of the following risks is protected by insurance? A Certain risk B Speculative risk C Pure risk D Involuntary risk A When one takes action to minimize the severity of a potential loss - answer ️️ -a good example of risk reduction might be: A When one takes action to minimize the severity of a potential loss B The elimination of the exposure to a specific risk C The transfer of the risk to an insurance company D Insuring only those risks that threaten the financial stability of the insured B Admitted - answer ️️ -an insurer that is authorized to do business in a particular state is said to be: A Non-admitted B Admitted C Domestic D Foreign C Stock - answer ️️ -which insurer's owner receives taxable corporate dividends as a return of profit? A Mutual B Recipro