California Insurance Study guides, Class notes & Summaries

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

California Personal Lines Broker Test 100% Correct Solved A-1. Insurance is a contract whereby one undertakes to indemnify another against: - Correct Answer ️️ -Damage A-2. A peril is: - Correct Answer ️️ -The actual cause of a loss. A-3. The uncertainty or chance of a loss occurring is known as: - Correct Answer ️️ - Risk A-4. Which are the main types of risks? - Correct Answer ️️ -Pure and Speculative A-5. A hazard is best defined as: - Correct Answer ️️ -Anything t...

CA Insurance License Exam Questions and Answers 100% Correct As used in this code the word "shall" is - Correct Answer ️️ -Mandatory (unless otherwise apparent) As used in this code the word "may" is - Correct Answer ️️ -permissive (unless otherwise apparent) "Oath" includes - Correct Answer ️️ -affirmation "Person" means - Correct Answer ️️ -person, association, organization, partnership, business trust, limited liability company, or corporation Definition of In...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

CA Insurance License Exam Questions and Answers 100% Correct As used in this code the word "shall" is - Correct Answer ️️ -Mandatory (unless otherwise apparent) As used in this code the word "may" is - Correct Answer ️️ -permissive (unless otherwise apparent) "Oath" includes - Correct Answer ️️ -affirmation "Person" means - Correct Answer ️️ -person, association, organization, partnership, business trust, limited liability company, or corporation Definition of In...

CA Life and Health Exam Questions and Answers Already Passed What is insurance? - Answer ️️ -Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? - Answer ️️ -Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? - Answer ️️ -peril is the causes of loss insured against in an insurance ...

CA Life insurance Exam Questions and Answers What type of risk is insurable? - Answer ️️ -Pure Risk According to the Law of Agency, a principal is represented by whom? - Answer ️️ -Agent or Producer What type of insurer is a voluntarily formed organization that provides insurance benefits for members of an affiliated lodge or religious organization with a representative form of government? - Answer ️️ -Fraternal Insurer When a change needs to be made on the application for ins...