Rope - Study guides, Class notes & Summaries

Why was the commercial Insurance Deregulation Act Created? - correct answer To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - correct answer Commercial policies When must rate amendments & policy forms be filed with the commissioner? - correct answer 30 days before What losses are excluded from flood insurance? ...

Ohio Property and Casualty Exam Questions & Answers 2023-24 What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...

Texas Property & Casualty Insurance Exam Questions with Verified Solutions (420 Questions) 2024 Update

DC Property Managers Study Guide (Complete) 2024 Questions & Answers Already Passed!!

Louisiana Property & Casualty Exam - PSI & ExamFX Questions and Answers 100% CorrectLouisiana Property & Casualty Exam - PSI & ExamFX Questions and Answers 100% CorrectLouisiana Property & Casualty Exam - PSI & ExamFX Questions and Answers 100% Correct If a producer allows his license to lapse, within what time period may the producer reinstate the same license? - ANSWER-b) 2 years Producers who allow their license to lapse may reinstate them same license within 2 years, upon proof of fulfil...

Samenvatting International and European Relations (B-KUL-HMH30F)

What is the purpose of licensing? - correct answer Reinforces the purpose of insurance regulation - that the public is treated fairly and equitably by those who sell and distribute insurance. Licensing prerequisites - correct answer 24 credit hours of study in approved course (must have 3hrs ethics). Once your certificate is obtained you have 1yr to pass your exam followed by 1yr to have your license issued. *Passing does not guarantee you will get your license. What are the qualifications...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

Notes on all SGS exercises and solutions, exam tips and guide to answering exam style questions based on practice exams. These notes helped me achieve a high distinction in advanced commercial property.

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