Florida 2-15 Health & Life License – Section #1 (Insurance Concepts) Exam with Complete Solutions<\/p>\n\n\n\n
Florida 2-15 Health & Life License – Section #1
1
Florida 2-15 Health & Life License – Section<\/p>\n\n\n\n
Complete Solutions
When a party is forbidden by legal action from exercising a right it is known as
a. Estoppel
b. Waiver
c. Exclusion
d. Forbearance
{Correct Ans: – Estoppel – occurs when a company is not allowed to exercise a right.
If you waive a right, you are “estopped” from exercising that right. Example: Some
insurance contracts have a policyholder waive their right of recovery against
someone who injures the insured. That allows the insurer to recover money from
the other party that the insurer paid to the insured.
Estoppel – x\u1ea3y ra khi m\u1ed9t c\u00f4ng ty kh\u00f4ng \u0111\u01b0\u1ee3c ph\u00e9p th\u1ef1c hi\u1ec7n quy\u1ec1n. N\u1ebfu b\u1ea1n t\u1eeb b\u1ecf
m\u1ed9t quy\u1ec1n, b\u1ea1n s\u1ebd \u0111\u01b0\u1ee3c quy\u1ec1n s\u1eed d\u1ee5ng quy\u1ec1n \u0111\u00f3. V\u00ed d\u1ee5: M\u1ed9t s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u1ea3o hi\u1ec3m c\u00f3
ch\u1ee7 h\u1ee3p \u0111\u1ed3ng t\u1eeb b\u1ecf quy\u1ec1n thu h\u1ed3i c\u1ee7a h\u1ecd \u0111\u1ed1i v\u1edbi ng\u01b0\u1eddi g\u00e2y th\u01b0\u01a1ng t\u00edch cho ng\u01b0\u1eddi
\u0111\u01b0\u1ee3c b\u1ea3o hi\u1ec3m. \u0110i\u1ec1u \u0111\u00f3 cho ph\u00e9p c\u00f4ng ty b\u1ea3o hi\u1ec3m thu h\u1ed3i ti\u1ec1n t\u1eeb b\u00ean kia m\u00e0 c\u00f4ng
ty b\u1ea3o hi\u1ec3m \u0111\u00e3 tr\u1ea3 cho ng\u01b0\u1eddi \u0111\u01b0\u1ee3c b\u1ea3o hi\u1ec3m.
The type of contract where only one party makes a promise to perform is a:
Select one:
a. Valued contract
b. Conditional contract
c. Unilateral contract
d. Contract of adhesion
{Correct Ans: – c. Unilateral contract
Unilateral – In a unilateral contract, only one party makes a promise to perform
(insurer). In insurance contracts, the carrier is the only one making a promise to pay
claims.
\u0110\u01a1n ph\u01b0\u01a1ng- Trong m\u1ed9t h\u1ee3p \u0111\u1ed3ng \u0111\u01a1n ph\u01b0\u01a1ng, ch\u1ec9 c\u00f3 m\u1ed9t b\u00ean \u0111\u01b0a ra l\u1eddi h\u1ee9a th\u1ef1c
hi\u1ec7n (c\u00f4ng ty b\u1ea3o hi\u1ec3m). Trong c\u00e1c h\u1ee3p \u0111\u1ed3ng b\u1ea3o hi\u1ec3m, ng\u01b0\u1eddi v\u1eadn chuy\u1ec3n l\u00e0 ng\u01b0\u1eddi
duy nh\u1ea5t \u0111\u01b0a ra l\u1eddi h\u1ee9a tr\u1ea3 c\u00e1c y\u00eau c\u1ea7u b\u1ed3i th\u01b0\u1eddng.<\/p>\n\n\n\n
Florida 2-15 Health & Life License – Section #1
2
See more at: Special Features of Insurance Contracts
The type of insurer which has a purpose of making profits for its shareholders is a:
Select one:
a. Service provider
b. Mutual insurer
c. Stock insurer
d. Reciprocal insurer
{Correct Ans: – Stock Insurance Company: An organization with the purpose of
making a profit for its shareholders. The company pays dividends to shareholders,
not to policyholders. Stock companies are also called “non- participating” or non
par because policyholders do not participate in company profits.
M\u1ed9t t\u1ed5 ch\u1ee9c v\u1edbi m\u1ee5c \u0111\u00edch t\u1ea1o ra l\u1ee3i nhu\u1eadn cho c\u00e1c c\u1ed5 \u0111\u00f4ng. C\u00f4ng ty tr\u1ea3 c\u1ed5 t\u1ee9c cho c\u00e1c
c\u1ed5 \u0111\u00f4ng, kh\u00f4ng ph\u1ea3i cho c\u00e1c ch\u1ee7 ch\u00ednh s\u00e1ch. C\u00e1c c\u00f4ng ty c\u1ed5 ph\u1ea7n c\u0169ng \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0
nh\u1eefng ng\u01b0\u1eddi kh\u00f4ng tham gia v\u00e0o c\u00e1c nh\u00f3m kh\u00e1c ho\u1eb7c v\u00ec h\u1ecd kh\u00f4ng tham gia v\u00e0o l\u1ee3i
nhu\u1eadn c\u1ee7a c\u00f4ng ty.
Making a false statement either written or verbal about another agent or insurance
company that injures their reputation is an example of
a. Rebating
b. Defamation
c. Twisting
d. Churning
{Correct Ans: – Defamation
Which type of hazard includes dishonesty, fraud and misrepresentation:
a. Morale hazard (tinh th\u1ea7n)
b. Moral hazard (\u0111\u1ea1o \u0111\u1ee9c)
c. Physical hazard
d. Intentional hazard (c\u1ed1 \u00fd)
{Correct Ans: – Moral hazard (\u0111\u1ea1o \u0111\u1ee9c)<\/p>\n\n\n\n
Florida 2-15 Health & Life License – Section #1
3
All of the following are types of risk classifications except:
Select one:
a. Preferred risk
b. Qualified risk
c. Standard risk
d. Substandard risk
{Correct Ans: – See section 23.1.6 Classification of Applicants
Choosing not to go bungee jumping is an example of which type of risk treatments:
Select one:
a. Risk retention
b. Risk transference
c. Risk Reduction
d. Risk avoidance
{Correct Ans: – See section 1.4.3.1 Risk Avoidance
Statements that are made in the application that are used by insurers to evaluate
risks are called:
Select one:
a. Underwriting information
b. Statements
c. Representations
d. Policy wording
{Correct Ans: – See section 3.2.7.2 Representation
The type of insurance company that is owned by its policyholders and usually
issues dividends is a:
Select one:
a. Stock insurer
b. Mutual insurer
c. Surplus insurer
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