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To be considered an insurable risk, a loss may NOT be - ANSWER-catastrophic Which of the following persons would be required to hold a producer license? - ANSWER-a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - ANSWER-ocean ...
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Add to cartTo be considered an insurable risk, a loss may NOT be - ANSWER-catastrophic Which of the following persons would be required to hold a producer license? - ANSWER-a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - ANSWER-ocean ...
Law of Large Numbers - ANSWER-The larger the number of people with a similar exposure to loss, the more predictable actual losses will be. Insurance - ANSWER-Transfers the risk of loss from an individual or business entity to an insurance company The three elements of insurable risk are - ANSW...
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Add to cartLaw of Large Numbers - ANSWER-The larger the number of people with a similar exposure to loss, the more predictable actual losses will be. Insurance - ANSWER-Transfers the risk of loss from an individual or business entity to an insurance company The three elements of insurable risk are - ANSW...
Exam Fx Chapter 2 - Property and Casualty Insurance Basics with Complete Solutions! Exam Fx Chapter 2 - Property and Casualty Insurance Basics with Complete Solutions! Exam Fx Chapter 2 - Property and Casualty Insurance Basics with Complete Solutions! Exam Fx Chapter 2 - Property and ...
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Add to cartExam Fx Chapter 2 - Property and Casualty Insurance Basics with Complete Solutions! Exam Fx Chapter 2 - Property and Casualty Insurance Basics with Complete Solutions! Exam Fx Chapter 2 - Property and Casualty Insurance Basics with Complete Solutions! Exam Fx Chapter 2 - Property and ...
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Loss Ratio Formula - ANSWER-(Incurred Losses+Loss Adjusting Expense)/Earned Premium Insurable Interest - ANSWER-Ownership Stand to suffer economic loss Components - ANSWER-Factors that determine rates including loss reserves, loss adjusting expenses, operating expenses, and profits Hazards...
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Add to cartLoss Ratio Formula - ANSWER-(Incurred Losses+Loss Adjusting Expense)/Earned Premium Insurable Interest - ANSWER-Ownership Stand to suffer economic loss Components - ANSWER-Factors that determine rates including loss reserves, loss adjusting expenses, operating expenses, and profits Hazards...
Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions! Exam FX (PA Property and Casua...
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Add to cartExam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions! Exam FX (PA Property and Casua...
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Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with...
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Restoring an insured financially after a claim is known as - ANSWER-indemnity Prior to paying a claimant under a professional liability policy, the insurer must - ANSWER-Obtain the consent of the insured. The purpose of purchasing an umbrella liability policy is to provide - ANSWER-Excess ins...
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Add to cartRestoring an insured financially after a claim is known as - ANSWER-indemnity Prior to paying a claimant under a professional liability policy, the insurer must - ANSWER-Obtain the consent of the insured. The purpose of purchasing an umbrella liability policy is to provide - ANSWER-Excess ins...
In Return for premium, and insurance company must.. - ANSWER-Be Fair in underwriting and pay covered losses In return for premium, an insurance company must be fair and impartial in underwriting of risks and must pay claims made for all covered losses. The part of a policy that clarifies terms...
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Add to cartIn Return for premium, and insurance company must.. - ANSWER-Be Fair in underwriting and pay covered losses In return for premium, an insurance company must be fair and impartial in underwriting of risks and must pay claims made for all covered losses. The part of a policy that clarifies terms...
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Abandonment - ANSWER-The abdication of insured property into the hands of another, or into the possession of no one in particular. Accident - ANSWER-An unplanned, unforeseen event which occurs suddenly and at a specific place. Actual Cash Value (ACV) - ANSWER-The required amount to pay damages...
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Add to cartAbandonment - ANSWER-The abdication of insured property into the hands of another, or into the possession of no one in particular. Accident - ANSWER-An unplanned, unforeseen event which occurs suddenly and at a specific place. Actual Cash Value (ACV) - ANSWER-The required amount to pay damages...
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