CA LIFE ACCIDENT AND HEALTH EXAM 2024 ACTUAL EXAM COMPLE
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORREC
ALREADY GRADED A+
Study online at https://quizlet.com/_g36fq2
1. Insurance is defined as? A contract whereby one un-
dertakes to indemnify another
against loss, damage, or liabil-
ity arising from a contingent or
unknown event.
2. A written instrument in which a contract of policy
insurance is set forth is the?
An agreement between the insurer and the
insured, the person who is covered by the
insurance, is established in a legal docu-
ment referred to as a contract of insurance
3. Loss is? defined as reduction in the val-
ue of an asset
4. To be paid for a loss the insured must making a claim
notify the insurer by?
5. What is an insurable interest? An interest in the life of an in-
It must be based on? dividual by which there will be
a loss if the insured dies.
Either a family relationship or
on economic factors Must ex-
ist at the tie of application, not
necessarily at the time of loss.
If you would benefit if a person
continues to live, you have an
insurable interest in that per-
son.
6. To "rescind" a policy means to? void or cancel the policy flat by
returning all premiums to the
insured. It is as if the policy
never existed and no cover-
age applies
7. What is fraud?
, CA LIFE ACCIDENT AND HEALTH EXAM 2024 ACTUAL EXAM COMPLE
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORREC
ALREADY GRADED A+
Study online at https://quizlet.com/_g36fq2
An intentional and fraudulent
omission on the part of an in-
sured that allows the insurer to
rescind the contract
8. What is perjury? A false representation on a
signed claim form
9. Concealment is? the neglect to communicate
that which a party knows and
ought to communicate
10. Does concealment, whether intentional or Yes
unintentional, entitle the injured party to
rescind the insurance?
11. What is an express warranty? A statement in a policy of a
matter relating to the person
or thing insured, or to the risk,
as a fact
12. A warranty may relate to the past, the pre- True
sent, or the future? True or False
13. Does a violation of a material warranty on Yes
the part of either party entitles the other
other to rescind the insurance contract?
Yes/No
14. How is materiality determined? by the probable influence of
the facts upon the underwriter
in forming their opinion of
the disadvantages of the pro-
posed contract
15. Is a particular form of words necessary to No
create a warranty? Yes/No
16. A representation may be?
, CA LIFE ACCIDENT AND HEALTH EXAM 2024 ACTUAL EXAM COMPLE
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORREC
ALREADY GRADED A+
Study online at https://quizlet.com/_g36fq2
Oral or written and be made
at the time of, or before the
issuance of the policy
17. A ________ may be altered or withdrawn representation
before the policy is issued, but not after-
wards.
18. The injured party is entitled to rescind the a representation is false in a
contract if? material point
19. Is the financial rating of the insurer re- No
quired to be specified in the insurance pol-
icy?
20. Under the Doctrine of Agency the.... principle (the insurer) is re-
sponsible for the acts of its
agents.
21. Transacting insurance includes? soliciting, negotiating or ex-
ecuting a contract and the
transaction of matters arising
out of the contract
22. With out a valid license you cannot? Transact insurance
23. What is the punishment of transacting in- A misdemeanor punishable by
surance without a license? a fine not exceeding $50,000
and up to 1 year in jail
24. Can a "prohibited person" under federal Commissioner
law engage in insurance activities in this
state without the prior written consent of
the ?
25. Licensees must notify the Commissioner 30
in writing within ______ days of the date
they learn of change in their background
information.
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORREC
ALREADY GRADED A+
Study online at https://quizlet.com/_g36fq2
1. Insurance is defined as? A contract whereby one un-
dertakes to indemnify another
against loss, damage, or liabil-
ity arising from a contingent or
unknown event.
2. A written instrument in which a contract of policy
insurance is set forth is the?
An agreement between the insurer and the
insured, the person who is covered by the
insurance, is established in a legal docu-
ment referred to as a contract of insurance
3. Loss is? defined as reduction in the val-
ue of an asset
4. To be paid for a loss the insured must making a claim
notify the insurer by?
5. What is an insurable interest? An interest in the life of an in-
It must be based on? dividual by which there will be
a loss if the insured dies.
Either a family relationship or
on economic factors Must ex-
ist at the tie of application, not
necessarily at the time of loss.
If you would benefit if a person
continues to live, you have an
insurable interest in that per-
son.
6. To "rescind" a policy means to? void or cancel the policy flat by
returning all premiums to the
insured. It is as if the policy
never existed and no cover-
age applies
7. What is fraud?
, CA LIFE ACCIDENT AND HEALTH EXAM 2024 ACTUAL EXAM COMPLE
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORREC
ALREADY GRADED A+
Study online at https://quizlet.com/_g36fq2
An intentional and fraudulent
omission on the part of an in-
sured that allows the insurer to
rescind the contract
8. What is perjury? A false representation on a
signed claim form
9. Concealment is? the neglect to communicate
that which a party knows and
ought to communicate
10. Does concealment, whether intentional or Yes
unintentional, entitle the injured party to
rescind the insurance?
11. What is an express warranty? A statement in a policy of a
matter relating to the person
or thing insured, or to the risk,
as a fact
12. A warranty may relate to the past, the pre- True
sent, or the future? True or False
13. Does a violation of a material warranty on Yes
the part of either party entitles the other
other to rescind the insurance contract?
Yes/No
14. How is materiality determined? by the probable influence of
the facts upon the underwriter
in forming their opinion of
the disadvantages of the pro-
posed contract
15. Is a particular form of words necessary to No
create a warranty? Yes/No
16. A representation may be?
, CA LIFE ACCIDENT AND HEALTH EXAM 2024 ACTUAL EXAM COMPLE
300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORREC
ALREADY GRADED A+
Study online at https://quizlet.com/_g36fq2
Oral or written and be made
at the time of, or before the
issuance of the policy
17. A ________ may be altered or withdrawn representation
before the policy is issued, but not after-
wards.
18. The injured party is entitled to rescind the a representation is false in a
contract if? material point
19. Is the financial rating of the insurer re- No
quired to be specified in the insurance pol-
icy?
20. Under the Doctrine of Agency the.... principle (the insurer) is re-
sponsible for the acts of its
agents.
21. Transacting insurance includes? soliciting, negotiating or ex-
ecuting a contract and the
transaction of matters arising
out of the contract
22. With out a valid license you cannot? Transact insurance
23. What is the punishment of transacting in- A misdemeanor punishable by
surance without a license? a fine not exceeding $50,000
and up to 1 year in jail
24. Can a "prohibited person" under federal Commissioner
law engage in insurance activities in this
state without the prior written consent of
the ?
25. Licensees must notify the Commissioner 30
in writing within ______ days of the date
they learn of change in their background
information.
