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[Show more]Stock Insurers/Company - - owned by stockholders 
- dividends (excess profits _ are paid to stockholders 
-divendends are taxable to stockholders 
- iusse NONPARTICIPATING policies ONLY stockholders received dividends 
Mutual Insurer/Company - -owned by policy holders 
-dividend is paid to policy ho...
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Add to cartStock Insurers/Company - - owned by stockholders 
- dividends (excess profits _ are paid to stockholders 
-divendends are taxable to stockholders 
- iusse NONPARTICIPATING policies ONLY stockholders received dividends 
Mutual Insurer/Company - -owned by policy holders 
-dividend is paid to policy ho...
Property vs Casualty: What is considered property? - Structure & Personal Property 
Property vs Casualty: What is considered casualty? - Non-property losses. Legal liability to others. 
3rd Party 
Risk - uncertainty of financial loss 
Pure Risk - Chance of Loss 
Speculative Risk - Chance of Loss or ...
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Add to cartProperty vs Casualty: What is considered property? - Structure & Personal Property 
Property vs Casualty: What is considered casualty? - Non-property losses. Legal liability to others. 
3rd Party 
Risk - uncertainty of financial loss 
Pure Risk - Chance of Loss 
Speculative Risk - Chance of Loss or ...
An example of a direct cause would be? - Water Damage as a result of fire fighters putting out a 
fire. 
This can be found on a schedule part of an insurance agreement. - name of the insured , location 
of property , and premium and effective date of coverage 
An insurance agency that conducts busin...
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Add to cartAn example of a direct cause would be? - Water Damage as a result of fire fighters putting out a 
fire. 
This can be found on a schedule part of an insurance agreement. - name of the insured , location 
of property , and premium and effective date of coverage 
An insurance agency that conducts busin...
Which of the following is considered a field underwriter? - An agent 
When must insurable interest exist in life insurance? - Application or issues date 
If no receipt is issued at the time application, a statement of good health is usually required at the time 
of - Policy Delivery 
The Medical Inf...
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Add to cartWhich of the following is considered a field underwriter? - An agent 
When must insurable interest exist in life insurance? - Application or issues date 
If no receipt is issued at the time application, a statement of good health is usually required at the time 
of - Policy Delivery 
The Medical Inf...
A CONSIDERED AN UNFAIR CLAIMS SETTLEMENT PRACTICE? - ATTEMPTING TO SETTLE A CLAIM 
FOR LESS THAN THE AMOUNT A REASONABLE PERSON WOULD BELIEVE IS DUE 
A PERSON APPOINTED BY AN INSURER TO SOLICIT OR SELL INSURANCE ON THEIR BEHALF IN THIS STATE 
IS KNOW AS AN - AGENT 
A TEXAS RESIDENT AGENT SEEKING TO ...
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Add to cartA CONSIDERED AN UNFAIR CLAIMS SETTLEMENT PRACTICE? - ATTEMPTING TO SETTLE A CLAIM 
FOR LESS THAN THE AMOUNT A REASONABLE PERSON WOULD BELIEVE IS DUE 
A PERSON APPOINTED BY AN INSURER TO SOLICIT OR SELL INSURANCE ON THEIR BEHALF IN THIS STATE 
IS KNOW AS AN - AGENT 
A TEXAS RESIDENT AGENT SEEKING TO ...
If, at the time of an insured's death, the insurance company discovers that the insured's age was 
misstated on the application for life insurance, the company will most likely - pay the policy 
proceeds in the amount the premiums would have purchased at the insured's actual age 
The provision in...
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Add to cartIf, at the time of an insured's death, the insurance company discovers that the insured's age was 
misstated on the application for life insurance, the company will most likely - pay the policy 
proceeds in the amount the premiums would have purchased at the insured's actual age 
The provision in...
At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit 
Reporting Act? - Upon completion of the application 
Who elects the governing body of a mutual insurance company? - policyholders 
An insurance applicant MUST be informed of an investigation re...
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Add to cartAt what point must a life insurance applicant be informed of their rights that fall under the Fair Credit 
Reporting Act? - Upon completion of the application 
Who elects the governing body of a mutual insurance company? - policyholders 
An insurance applicant MUST be informed of an investigation re...
Subrogration may follow which of the following events? - An insured collects from her insurance 
company for damages caused by a third party 
Medical payments coverage under a BOP applies to expenses incurred by non-insureds for bodily injury 
and reported to the insurer within: - One year after the...
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Add to cartSubrogration may follow which of the following events? - An insured collects from her insurance 
company for damages caused by a third party 
Medical payments coverage under a BOP applies to expenses incurred by non-insureds for bodily injury 
and reported to the insurer within: - One year after the...
What type of reinsurance contract involves two companies automatically sharing their risk exposure? - 
Treaty 
The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future 
obligations to its policyholders is called - reserves 
When third-party ownership i...
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Add to cartWhat type of reinsurance contract involves two companies automatically sharing their risk exposure? - 
Treaty 
The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future 
obligations to its policyholders is called - reserves 
When third-party ownership i...
Who is considered a field underwriter? - An agent 
When must insurable interest exist in life insurance? - Application or issue date 
If no receipt is issued at the time of application, a statement of good health is usually required at the 
time of? - Policy delivery 
The Medical Information Bureau ...
Preview 2 out of 12 pages
Add to cartWho is considered a field underwriter? - An agent 
When must insurable interest exist in life insurance? - Application or issue date 
If no receipt is issued at the time of application, a statement of good health is usually required at the 
time of? - Policy delivery 
The Medical Information Bureau ...
An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the 
following insurance principles has the insurer violated? - Consideration 
Which of the following statements regarding HIV testing for insurance purposes is NOT true? - 
Insurers are barred from...
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Add to cartAn insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the 
following insurance principles has the insurer violated? - Consideration 
Which of the following statements regarding HIV testing for insurance purposes is NOT true? - 
Insurers are barred from...
Insurance 
(General concept) - - transfers the risk of loss from an individual to an insurer 
- based on the principle of indemnity 
- based on the principle of risk (risk pooling) 
insurable interest 
(General Concept) - - must exist at the time of the application 
- insuring one's own life, famil...
Preview 2 out of 14 pages
Add to cartInsurance 
(General concept) - - transfers the risk of loss from an individual to an insurer 
- based on the principle of indemnity 
- based on the principle of risk (risk pooling) 
insurable interest 
(General Concept) - - must exist at the time of the application 
- insuring one's own life, famil...
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