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

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Kaye Tiong
Created by Kaye Tiong over 8 years ago
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Life Insurance Prep

Question 1 of 5

1

The two catagories for risk are:

Select one of the following:

  • general risk, speculative risk

  • speculative risk, specific risk

  • ideal risk, pure risk

  • pure risk, speculative risk

Explanation

Question 2 of 5

1

Insurance addresses the issue of speculative risk.

Select one of the following:

  • True
  • False

Explanation

Question 3 of 5

1

In life insurance the insurable interest condition must exist:

Select one of the following:

  • at the time of application only

  • at the time of issue only

  • at time of loss only

  • none of the above

Explanation

Question 4 of 5

1

ABC Insurance Company is incorporated in the State of California. Therefore it would be correct to refer to this insurer as:

Select one of the following:

  • reciprocal

  • interexchange

  • domestic

  • mutual

Explanation

Question 5 of 5

1

ABC Insurance Company raises capital from investors. These investors share in the profits and losses of the insurer. This company would therefore be:

Select one of the following:

  • fraternal

  • assessment

  • mutual

  • stock

Explanation