California Life Accident and Health
Exam Practice exam complete
update
A
ABC INSURANCE - --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 - --A(N) ________ INSURER IS AUTHORIZED TO WRITE INSURANCE
POLICIES IN A PARTICULAR STATE.
A
DOMESTIC
B
xxx
,NON-ADMITTED
C
FOREIGN
D
ADMITTED
B
A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF AN
INSURED - --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 - --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
xxx
,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 - --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 - --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.
xxx
, A
FACULTATIVE
B
DOMESTIC
C
ALIEN
D
SURPLUS
C
PURE RISK - --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 - --A GOOD EXAMPLE OF RISK REDUCTION MIGHT BE:
A
WHEN ONE TAKES ACTION TO MINIMIZE THE SEVERITY OF A POTENTIAL
LOSS
xxx
Exam Practice exam complete
update
A
ABC INSURANCE - --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 - --A(N) ________ INSURER IS AUTHORIZED TO WRITE INSURANCE
POLICIES IN A PARTICULAR STATE.
A
DOMESTIC
B
xxx
,NON-ADMITTED
C
FOREIGN
D
ADMITTED
B
A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF AN
INSURED - --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 - --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
xxx
,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 - --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 - --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.
xxx
, A
FACULTATIVE
B
DOMESTIC
C
ALIEN
D
SURPLUS
C
PURE RISK - --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 - --A GOOD EXAMPLE OF RISK REDUCTION MIGHT BE:
A
WHEN ONE TAKES ACTION TO MINIMIZE THE SEVERITY OF A POTENTIAL
LOSS
xxx
