Life Insurance Prep

Kaye Tiong
Quiz by , created over 3 years ago

License Life Insurance (Practice Exam) Quiz on Life Insurance Prep, created by Kaye Tiong on 03/14/2016.

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Kaye Tiong
Created by Kaye Tiong over 3 years ago
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Question 1

Question
The two catagories for risk are:
Answer
  • general risk, speculative risk
  • speculative risk, specific risk
  • ideal risk, pure risk
  • pure risk, speculative risk

Question 2

Question
Insurance addresses the issue of speculative risk.
Answer
  • True
  • False

Question 3

Question
In life insurance the insurable interest condition must exist:
Answer
  • at the time of application only
  • at the time of issue only
  • at time of loss only
  • none of the above

Question 4

Question
ABC Insurance Company is incorporated in the State of California. Therefore it would be correct to refer to this insurer as:
Answer
  • reciprocal
  • interexchange
  • domestic
  • mutual

Question 5

Question
ABC Insurance Company raises capital from investors. These investors share in the profits and losses of the insurer. This company would therefore be:
Answer
  • fraternal
  • assessment
  • mutual
  • stock