utmost good faith; and, indemnity. 4. the Section 22 and 380 of the CIC. term “insurance policy”, 5. the meaning and effect of each of the following on an insurance contract: a. fraud, Sections 338 and 1871.2 of the CIC; b. concealment, Sections 330 through 339 of the CIC; i. Know that either intentional or unintentional concealment entitles an injured party to rescission of a contract (Section 331 of the CIC); ii. materiality, Section 334 of the CIC; c. representations, Sections 350 through 361 of the CIC; i. Know that a representation cannot qualify an express provision in a contract of insurance, but it may qualify an implied warranty (Section 354 of the CIC); d. warranty (expressed/implied), Sections 440 through 445 and 447 of the CIC; e. misrepresentation, Sections 780 through 784 of the CIC; and; f. waiver and estoppel. 6. the six elements which must be specified in all insurance policies, Section 381 of the CIC. 7. the meaning of the term rescission, and when an insurer has the right of rescission, Sections 331, 338, 359, and 447 of the CIC. 8. the following terms in the context of insurance: a. application, policy, endorsement; b. cancellation, lapse, grace period; and, c. rate, premium, earned and unearned premium. I. General Insurance C. The Insurance Marketplace 1. Be able to identify different distribution systems that include, but are not limited to the following: a. agency; and, b. direct response. I. General Insurance C. The Insurance Marketplace 2. Producers. Be able to: a. understand the general rules of agency as they apply to an agent, broker, and insurance company; i. the responsibilities and duties of each; ii. the effect of the types of authority an agent may exercise (express, implied, or apparent); b. with regard to the underwriting of applicants and/or insureds:
utmost good faith; and, indemnity. 4. the term “insurance policy”, Section 22 and 380 of the CIC. 5. the meaning and effect of each of the following on an insurance contract: a. fraud, Sections 338 and 1871.2 of the CIC; b. concealment, Sections 330 through 339 of the CIC; i. Know that either intentional or unintentional concealment entitles an injured party to rescission of a contract (Section 331 of the CIC); ii. materiality, Section 334 of the CIC; c. representations, Sections 350 through 361 of the CIC; i. Know that a representation cannot qualify an express provision in a contract of insurance, but it may qualify an implied warranty (Section 354 of the CIC); d. warranty (expressed/implied), Sections 440 through 445 and 447 of the CIC; e. misrepresentation, Sections 780 through 784 of the CIC; and; f. waiver and estoppel. 6. the six elements which must be specified in all insurance policies, Section 381 of the CIC. 7. the meaning of the term rescission, and when an insurer has the right of rescission, Sections 331, 338, 359, and 447 of the CIC. 8. the following terms in the context of insurance: a. application, policy, endorsement; b. cancellation, lapse, grace period; and, c. rate, premium, earned and unearned premium. I. General Insurance C. The Insurance Marketplace 1. Be able to identify different distribution systems that include, but are not limited to the following: a. agency; and, b. direct response. I. General Insurance C. The Insurance Marketplace 2. Producers. Be able to: a. understand the general rules of agency as they apply to an agent, broker, and insurance company; i. the responsibilities and duties of each; ii. the effect of the types of authority an agent may exercise (express, implied, or apparent); b. with regard to the underwriting of applicants and/or insureds:
PreLicEduObjCA-2.docx