Business > EXAM > 1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering (All)
1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering The Policy | 50 Questions with 100% Correct Answers
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What two elements are necessary to a life insurance contract to have a legal purpose? - ✔✔1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - ✔✔L... oss What Type of Risk is Insurable? - ✔✔Pure What is the term for the causes of loss insured against in a insurance policy? - ✔✔Peril What Law Protects Consumers from the circulation of inaccurate or obsolete information? - ✔✔The Fair Credit Reporting Act What are the three types of hazards? - ✔✔1. Physical 2. Moral 3. Morale In forming an insurance contract, when does an acceptance usually occur? - ✔✔When the insurer approves a prepaid application An insurance company domiciled in California and transacts insurance in Nevada. What is this insurer's classification in Nevada? - ✔✔Foreign A state-issued document empowering an insurance company to become an admitted insurer is called what? - ✔✔Certificate of Authority [Show More]
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