General California Insurance Law
Insurance policy is
A written instrument in which a contract of insurance is set forth
Fraudulent activities in health care are estimated in billions of dollars annually. This results in
Increase in health care costs for everyone.
A contract which one party undertakes to indemnify another against loss is called
Insurance
What do individuals use to transfer their risk of loss to a larger group?
Insurance
All of the following may recommend life insurance contracts for their prospects, clients, and proposed insureds EXCEPT
Life solicitors
An independent agent may have contracts with which of the following?
More than one insurer
The written instrument, in which a contract of insurance is set forth, is known as the
Policy
According to California Insurance Code, which of the following can be classified as an insurable event?
Pure risks
An intentional or unintentional concealment entitles the affected party to which of the follow?
Rescission of a contract
Which entity pursues liquidation of an insolvent insurer?
The state government.
All of the following are insurable events as define in the Insurance Code EXCEPT
An insured loses a large sum in a poker game
In the state of California, who selects the Insurance Commissioner and for how long?
General election, for no more than two four-year terms
An exclusive agent
Has a contract with one company
Insurance is a contract by which one seeks to protect another from
Loss