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