LEGAL CONCEPTS Flashcards by Jal Pena

Which of these is NOT considered to be an element of an insurance contract?

( )the offer
( )acceptance
( )negotiating
( )consideration

Qual destes NÃO é considerado um elemento de um contrato de seguro?

negotiating

Is CONSIDERED: the offer , acceptance. consideration

How well did you know this?

Not at all

Perfectly

Q purchases a $500,000 life insurance policy and pays $900 in premiums over the first six months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of unequal values reflects which of the following insurance contract features?

( )Aleatory
( )Adhesion
( )Unilateral
( )Consideration

Q compra uma apólice de seguro de vida de $ 500.000 e paga $ 900 em prêmios nos primeiros seis meses. Q morre repentinamente e o beneficiário recebe $ 500.000. Essa troca de valores desiguais reflete qual das seguintes características do contrato de seguro?

Aleatory

How well did you know this?

Not at all

Perfectly

A life insurance policy would be considered a wagering contract WITHOUT

( )insurable interest
( )premium payment
( )agent solicitation
( )constructive delivery

Uma apólice de seguro de vida seria considerada um contrato de aposta SEM

insurable interest

interesse segurável

How well did you know this?

Not at all

Perfectly

A warranty

( )guarantees that an insurance company will pay a benefit
( )is a statement believed to be true to the best of one's knowledge
( )cannot be used to void the contract
( )is a statement guaranteed to be true

uma garantia

is a statement guaranteed to be true

é uma afirmação garantida como verdadeira

How well did you know this?

Not at all

Perfectly

When must insurable interest be present in order for a life insurance policy to be valid?

( )When the insured dies
( )Within the incontestability period
( )When the application is made
( )Before the insured dies

Quando o interesse segurável deve estar presente para que uma apólice de seguro de vida seja
ser válido?

When the application is made

Quando a aplicação é feita

How well did you know this?

Not at all

Perfectly

Which of these require an offer, acceptance, and consideration?

( )Warranty
( )Estoppel
( )Contract
( )Representation

Quais deles requerem uma oferta, aceitação e consideração?

Contract

How well did you know this?

Not at all

Perfectly

When third-party ownership is involved, applicants who also happen to be the stated primary beneficiary are required to have

( )all statements be warranties
( )insurable interest in the proposed insured
( )the agent complete a third-party application
( )all those involved be family-related

Quando a propriedade de terceiros está envolvida, os candidatos que também são os beneficiário principal declarado são obrigados a ter

insurable interest in the proposed insured

interesse segurável no segurado proposto

How well did you know this?

Not at all

Perfectly

At what point does an informal contract become binding?

( )When one party makes an invitation and the other makes an offer
( )When an offer is made by one party and the other party rejects the offer and makes a counteroffer
( )When one party makes an offer and the other party accepts that offer
( )When one party makes the required payment

Em que ponto um contrato informal se torna obrigatório?

When one party makes an offer and the other party accepts that offer

Quando uma parte faz uma oferta e a outra parte aceita essa oferta

How well did you know this?

Not at all

Perfectly

E and F are business partners. Each takes out a $500,000 life insurance policy on the other, naming himself as primary beneficiary. E and F eventually terminate their business, and four months later E dies. Although E was married with three children at the time of death, the primary beneficiary is still F. However, an insurable interest no longer exists. Where will the proceeds from E’s life insurance policy be directed to?

( )F
( )The dissolved partnership
( )E's family
( )E's estate

E e F são parceiros de negócios. Cada um faz um seguro de vida de $ 500.000 política, por outro, nomeando-se como beneficiário principal. E e F eventualmente encerram seus negócios e, quatro meses depois, E morre. Embora E fosse casado com três filhos no momento da morte, o beneficiário principal ainda é F. No entanto, um interesse segurável não existe mais. Onde vai o produto
da apólice de seguro de vida de E ser direcionado?

How well did you know this?

Not at all

Perfectly

Stranger Originated Life Insurance (STOLI) has been found to be in violation of which of the following contractual elements?

( )Consideration
( )Competent Parties
( )Offer/Acceptance
( )Legal Purpose (Insurable Interest)

Seguro de vida originado por estranhos (STOLI) foi considerado uma violação de qual dos seguintes elementos contratuais?

Legal Purpose (Insurable Interest)

Finalidade Legal (Interesse Segurável)

How well did you know this?

Not at all

Perfectly

Life and health insurance policies are

( )Multi-lateral contracts
( )Bilateral contracts
( )Unilateral contracts
( )Non-lateral contracts

As apólices de seguro de vida e saúde são

Unilateral contracts

Contratos unilaterais

How well did you know this?

Not at all

Perfectly

In an insurance contract, the insurer is the only party who makes a legally enforceable promise. What kind of contract is this?

( )Estoppel
( )Aleatory
( )Adhesion
( )Unilateral

Em um contrato de seguro, a seguradora é a única parte que faz uma obrigação legal promessa exigível. Que tipo de contrato é esse?

**Unilateral
**

How well did you know this?

Not at all

Perfectly

Which of the following consists of an offer, acceptance, and consideration?

( )Warranty
( )Estoppel
( )Contract
( )Representation

Qual das opções a seguir consiste em uma oferta, aceitação e consideração?

Contract

contrato

How well did you know this?

Not at all

Perfectly

Insurance policies are offered on a “take it or leave it” basis, which make them

( )Conditional Contracts
( )Aleatory Contracts
( )Unilateral Contracts
( )Contracts of Adhesion

As apólices de seguro são oferecidas na base do “pegar ou largar”, o que as torna

Contracts of Adhesion

Contratos de Adesão

How well did you know this?

Not at all

Perfectly

Insurance contracts are known as ____ because certain future conditions or
acts must occur before any claims can be paid.

( )consideration
( )unilateral
( )aleatory
( )conditional

Os contratos de seguro são conhecidos como ____ porque certas condições futuras ou
atos devem ocorrer antes que quaisquer reivindicações possam ser pagas.

conditional

condicional

How well did you know this?

Not at all

Perfectly

Statements made on an insurance application that are believed to be true to the best of the applicant’s knowledge are called

( )representations
( )consideration
( )warranties
( )guarantees

Declarações feitas em um pedido de seguro que se acredita serem verdadeiras o melhor do conhecimento do requerente são chamados

representations

Taking receipt of premiums and holding them for the insurance company is an example of

( )Commingling
( )Misappropriation
( )Theft
( )Fiduciary responsibility

Receber os prêmios e retê-los para a seguradora é um exemplo de

Fiduciary responsibility

Responsabilidade fiduciária

When must insurable interest exist for a life insurance contract to be valid?

( )Inception of the contract
( )Throughout the entire length of the contract
( )When the insured dies
( )During the contestable period

Quando deve existir interesse segurável para que um contrato de seguro de vida seja válido?

Inception of the contract

Início do contrato

The Consideration clause of an insurance contract includes

( )the buyer's guide
( )a summary of the coverage provided
( )the named beneficiaries
( )the schedule and amount of premium payments

A cláusula contraprestação de um contrato de seguro inclui

the schedule and amount of premium payments

o cronograma e o valor dos pagamentos de prêmios

In regards to representations or warranties, which of these statements is TRUE?

( )Warranties are statements considered to be true to the best of the applicant's belief
( )If material to the risk, false representations will void a policy
( )Representations are statements guaranteed to be true in every respect
( )If material to the risk, false representations will NOT void a policy

Em relação a declarações ou garantias, qual dessas declarações é VERDADEIRO?

If material to the risk, false representations will void a policy

Se material para o risco, declarações falsas anularão uma apólice

A life insurance arrangement which circumvents insurable interest statutes is
called

( )a contract of adhesion
( )an indemnity contract
( )key person insurance
( )Investor-Originated Life Insurance

Um acordo de seguro de vida que contorna os estatutos de interesse segurável é chamado

Investor-Originated Life Insurance

Seguro de Vida Originado por Investidor

The part of a life insurance policy guaranteed to be true is called a(n)

( )representation
( )exclusion
( )warranty
( )waiver

A parte de uma apólice de seguro de vida garantida como verdadeira é chamada de a(n)

warranty

garantia

A policy of adhesion can only be modified by whom?

( )The agent
( )The applicant
( )The primary beneficiary
( )The insurance company

Uma política de adesão só pode ser modificada por quem?

The insurance company

a companhia de seguros

Insurance policies are considered aleatory contracts because

( )they are "take it or leave it" contracts
( )both parties consent to the contract
( )performance is conditioned upon a future occurrence
( )the contract is voidable upon proof of fraud

As apólices de seguro são consideradas contratos aleatórios porque

performance is conditioned upon a future occurrence

desempenho está condicionado a uma ocorrência futura

**Who makes the legally enforceable promises in a unilateral insurance policy?** ``` ( )Beneficiary ( )Insurance company ( )Insured ( )Applicant ``` *Quem faz as promessas legalmente aplicáveis em uma apólice de seguro unilateral?*

**Insurance company** | *Companhia de seguros*

**Which of these is considered a statement that is assured to be true in every respect?** ``` ( )Estoppel ( )Warranty ( )Guarantee ( )Representation ``` *Qual delas é considerada uma declaração que é garantida como verdadeira em todos os respeito?*

**Warranty** | *garantia*

**All of the following are considered to be typical characteristics describing the nature of an insurance contract EXCEPT** ``` ( )Bilateral ( )Unilateral ( )Aleatory ( )Adhesion ``` *Todas as opções a seguir são consideradas características típicas que descrevem o natureza de um contrato de seguro, EXCETO*

**Bilateral**

**What is the consideration given by an insurer in the Consideration clause of a life policy?** ``` ( )Promise to never cancel coverage ( )Promise to pay a death benefit to a named beneficiary ( )Promise to not raise premiums ( )Promise to accept an insured's assignment of benefits ``` *Qual é a contraprestação dada por uma seguradora na cláusula de Contraprestação de um política de vida?*

**Promise to pay a death benefit to a named beneficiary** | *Promessa de pagar um benefício por morte a um beneficiário nomeado*

**Which of these is NOT a type of agent authority?** ``` ( )Express ( )Implied ( )Principal ( )Apparent ``` *Qual destes NÃO é um tipo de autoridade de agente?*

**Principal** | *diretor*

**If a contract of adhesion contains complicated language, to whom would the interpretation be in favor of?** ``` ( )Insurer ( )Beneficiary ( )Reinsurer ( )Insured ``` *Se um contrato de adesão contém linguagem complicada, a quem interpretação ser a favor de?*

**Insured** | *segurado*