Connecticut Casualty Adjusters License Exam Questions and Answers
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Connecticut Casualty Adjusters License Exam Questions and Answers
Necessary Contract Elements {{Correct Ans- Agreement, consideration, legal capacity, legal purpose
Agreement {{Correct Ans- offer and acceptance
Consideration {{Correct Ans- The binding force in a contract that requires something of value to be exchanged for the transfer of risk.
Legal capacity {{Correct Ans- Competent parties: Requirement that a party to a contract be of legal age and have requisite mental capacity to enter into contract
Legal purpose {{Correct Ans- The purpose of the contract must be legal and not against public policy.
Unilateral {{Correct Ans- One-sided. Insurer writes the policy
Adhesion {{Correct Ans- Drafted by insurer and accepted by insured
Aleatory {{Correct Ans- One party may recover more in value than he has parted with
Utmost Good Faith {{Correct Ans- A principle of insurance which states that the insurance company must be able to rely on the honesty and cooperation of the insured, and the insured must rely on the company to fulfill its obligations in good faith.
Warranty {{Correct Ans- Statement absolutely true
[Solved] Connecticut Casualty Adjusters License Exam Questions and Answers
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- Submitted On 10 Mar, 2023 02:45:59
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