Rhode Island BUNDLED exam 2024 with 100% correct answers

Powers and Duties of the Commissioner - correct answer Broad powers, examination of records, notice and hearing, penalties. Minimum Limits of financial responsibility - correct answer 25/50/25 or $75,000 combined single limit Unfair Claim Practice - correct answer Failing to respond with...

Executory - correct answer Both sides perform certain acts to make contract enforceable. Endorsement - correct answer Used to add, delete, or change any policy parts. May alter content of declarations and insurance agreement. May contain conditions exclusions, and definitions. Subrogation ...

the role of insurance is to - correct answer transfer the risk of financial loss from an individual or business to an insurance company organized and incorporated under state law owned by stockholders who get a paid share of the company's profit through dividends. also referred to as a nonpart...

Insure-ah or principal - correct answer the company or organization that issues a policy of insurance. Domestic Insurance Company - correct answer a insurance company that its home office is incorporated in this state. Foreign Insurance Company - correct answer an insurance company that ...

A term life rider offer the insured - correct answer Additional coverage The Department of business regulations may revoke a producer's license for each of the following offenses except - correct answer Violating an insurer's internal control requirements The agreement in a life insuranc...

Commercial licensing regulation - correct answer Promote the general welfare of the citizens of Rhode Island so that the public interest most effectively be served Clock hour - correct answer at least fifty minutes of classroom instruction Promptly - correct answer shall mean not more th...