CA LIFE AND HEALTH INSURANCE EXAM-with 100% verified solutions-2026-2027

CA LIFE AND HEALTH INSURANCE EXAM 1,2 AND 3 LATEST

VERSIONS (VERSION A, B AND C) ACTUAL EXAM 250

QUESTIONS AND CORRECT DETAILED ANSWERS WITH

RATIONALES (VERIFIED ANSWERS) /ALREADY GRADED A+

What is meant by referring to an insurance policy as a uliteral contract?

Only one party makes a legally enforceable promise

When must insurance records of insurance agents and brokers be made available to the insurance

commissioner?

At all times

Any situation that presents the possibility of a loss is known as...

A loss exposure

Which of the following information is not required to be communicated with a life insurance

contract?

Personal judgment

Directed ration of insurance utilizes all the following to promote the sale of insurance except

Phone call from an agent

Contract in which one party promises to indemnify another against loss that arises from

an unknown event is An insurance policy

All of the occurrences listed below are examples of an insurable event as defined by the

California insurance code except..

And insured suffers a financial loss in the state lottery

All of the following statements about aleatory contracts are True except

insured and insurer contribute equally to the contract

All of the following would be is it an unfair trade practices except Committing any act of

discrimination whether it be deemed fair or unfair as authorized by the California insurance

code, the insurance commissioner has provided standards for names used by life insurance

agents. What are the standards which if any of the following are automatically acceptable for

Mary Brown, a holder of the CLU designation? Mary brown insurance services

A contract of indemnity

What role is used to determine the importance of a representation?

One party is restored to the same financial position the party was before the loss occurred In

Insurance terminology indemnity?

make whole

Is defined by the California insurance code insurance is a...

contract

What would a person be guilty of who refuses to deliver any books records or assets to the

commissioner once a seizure order has been executed?

A misdemeanor

The agent who is acting as an insurance agent, broker, solicitor, like patient, accident and health,

or bail agent acts in which capacity when handling premiums or return premiums for an insured?

Fiduciary

Which of the following statements regarding risk is true?

Only pure risks are insurable

The purchase of an insurance policy may accomplish all of the following for the insured except

The elimination of risk

Insureds are entitled to recover an amount NOT greater than the amount of their loss under

the principle of... Indemnity