12 - California Laws and Ethics Pertinent to Insurance Questions and Answers 100% Correct

Anyone employed in California to assist an insurance agent in transacting insurance is called an insurancesolicitor a life agent who has misappropriated fiduciary funds to his own use. What is Pete guilty of?Theft According to the California Insurance Code, what is "insurance"?A contract A person who asserts a right of recovery under an insurance policy is calledclaimant According to the California Insurance Code, what term is used to describe a fact so important it could affect the policy premium?Materiality Why is a life insurance policy's delivery date important?The free-look period begins on the policy delivery date What does the term "indemnity" mean as it pertains to insurance?To make whole Which of the following does the California Insurance Code NOT require an insurance policy to specify?Insurer's financial rating When handling premiums for an insured, an agent is act