Bundle For USAA Exam Questions with Correct Answers

USAA Practice Test Questions with Correct Answers What type of reinsurance contract involves two companies automatically sharing their risk exposure? - Answer-treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - Answer-ris...

USAA Licensing Exam Questions and Answers All Correct Insurance - Answer-Transfer of risk from one person or organization to an insurance company Indemnity - Answer-The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Answer-Mathematica...

USAA API STUDY GUIDE QUESTIONS AND CORRECT ANSWERS Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. - Answer-This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a lic...

USAA Auto Insurance Terms with Complete Solutions Terrorism Risk Insurance Act (TRIA) - Answer-In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and wh...

USAA P&C Insurance Adjuster Exam Questions and Answers Perils - Answer-Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard - Answer-Condition that create or increases the chance or loss or contributes to the loss Physical Hazard - Answe...

USAA unit 3 Exam Questions with Correct Answers Property Insurance - Answer-Covers damage to property, such as a home. Casualty Insurance - Answer-Casualty= liability Always pay the other guy, never me Third party Policy Sections (DICEE) - Answer-Declarations Insuring Conditions Endors...

USAA Chapter 2 Test Questions with Complete Solutions Agent - Answer-One who recieves the authority to act on behalf of someone else. Contracts - Answer-Agents recieve authority by written __________________. What does it mean that the agent has authrotity to bind? - Answer-The agent shoul...

USAA Licensing Exam Questions and Correct Answers Law of Large numbers - Answer-Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Answer-Proof that someone stands to lose financially if a loss occurs; must exist at the time of t...