California Life-Only Agent Exam, Contract Law: all 23 questions

All questions from the Contract Law section for California Life-Only Agent Exam, each with the correct answer.

2001Which of the following is one of the four basic elements of a valid contract?
2002In an insurance contract, the consideration from the applicant is
2003An insurance policy is a contract of adhesion because
2004An insurance contract is called aleatory because
2005A unilateral contract is one in which
2006An insurance contract is conditional because
2007What does it mean to say that insurance is a personal contract?
2008Under California Insurance Code section 380, an insurance policy is
2009Which of the following must be specified in every California insurance policy under Insurance Code section 381?
2010Is the insurer's financial rating required to be stated in the insurance policy?
2011Under California law, concealment by a party to an insurance contract, whether intentional or unintentional, entitles the injured party to
2012Which of the following does NOT need to be communicated to the other party under California concealment rules?
2013In California, materiality is determined
2014A warranty in an insurance contract may be
2015A statement made by an applicant that is known to be false in order to obtain coverage is a
2016Under California law, a representation is false when
2017Which of the following is the difference between a representation and a warranty?
2018In a contract situation, the term lapse most accurately refers to
2019The period after a premium due date during which a life policy remains in force without payment is called the
2020Which of the following best describes the difference between earned and unearned premium?
2021A written addition to a policy that changes or adds coverage is called a
2022Tort law differs from contract law because tort law
2023Rescission of an insurance contract means that the contract is

California Life-Only Agent Exam, Contract Law: all 23 questions

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