Samenvattingen, Aantekeningen en Examens

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

CA Insurance License Exam Questions and Answers 100% Correct As used in this code the word "shall" is - Correct Answer ️️ -Mandatory (unless otherwise apparent) As used in this code the word "may" is - Correct Answer ️️ -permissive (unless otherwise apparent) "Oath" includes - Correct Answer ️️ -affirmation "Person" means - Correct Answer ️️ -person, association, organization, partnership, business trust, limited liability company, or corporation Definition of In...

CA Life and Health Exam Questions and Answers Already Passed What is insurance? - Answer ️️ -Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? - Answer ️️ -Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? - Answer ️️ -peril is the causes of loss insured against in an insurance ...

CA Life insurance Exam Questions and Answers What type of risk is insurable? - Answer ️️ -Pure Risk According to the Law of Agency, a principal is represented by whom? - Answer ️️ -Agent or Producer What type of insurer is a voluntarily formed organization that provides insurance benefits for members of an affiliated lodge or religious organization with a representative form of government? - Answer ️️ -Fraternal Insurer When a change needs to be made on the application for ins...

> The face amount of the policy one year from the date of issue. > None of the above - Answer ️️ -none of the above In group life insurance, who is issued a certificate of insurance? - Answer ️️ -The Participant All of the following statements apply to the child coverage in a family policy, EXCEPT > Child coverage is convertible to whole life coverage > Child coverage is term insurance > Children are covered until reaching a specified age > Coverage applies only ...

CA Life Insurance Practice Exam with Verified Solutions A key person is typically all of the following, except: - Answer️️ - -Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have direct responsibilit...

CA Life Insurance Exam Questions and Answers 100% Pass What is meant by referring to an insurance policy as a unilateral contract? - Answer ️️ -Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - Answer ️️ -At all times. Any situation that presents the possibility of a loss is known as - Answer ️️ -a loss exposure Which of the following information is not required to ...

CA life and Health: Life Insurance Basics (2024/2025) with Verified Solutions A family's need for income is greatest during the - Answer ️️ -Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? - Answer ️️ -Vacation travel expenses THere are many legitimate need-based expenses that can be paid ...