Free CA-Life-Accident-and-Health – CA Life, Accident and Health or Sickness Examination Practice Test Question

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• ○ Contract indemnifying against loss
• ○ Agreement sharing investment profits
• ○ Promise guaranteeing future earnings
• ○ License authorizing insurance sales

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• ○ Nonadmitted insurer in California
• ○ Admitted insurer in California
• ○ Alien insurer from abroad
• ○ Domestic insurer formed locally

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• ○ Unilateral contract in nature
• ○ Aleatory contract in nature
• ○ Bilateral contract in nature
• ○ Personal services contract nature

Answer is in the explanation below.

Answer is in the explanation below.

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• ○ The insured purchasing coverage
• ○ The state insurance department
• ○ The insurer appointing them
• ○ The beneficiary named later

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• ○ Eliminate risk entirely forever
• ○ Guarantee profits every year
• ○ Avoid maintaining any reserves
• ○ Predict losses more accurately

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• ○ Statement guaranteed exactly true
• ○ Statement believed generally true
• ○ Opinion offered by agent
• ○ Estimate of future value

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• ○ Insurer issuing the policy
• ○ Applicant submitting the application
• ○ Agent delivering the policy
• ○ Beneficiary filing the claim

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• ○ Level term insurance policy
• ○ Whole life insurance policy
• ○ Decreasing term insurance policy
• ○ Universal life insurance policy

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• ○ Premiums increase each year
• ○ Coverage ends at sixty-five
• ○ Premiums remain level throughout
• ○ Cash value is guaranteed

Answer is in the explanation below.