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Fred Loya Insurance Test Guide with Questions & 100% Correct Answers
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Fred Loya Insurance Test Guide with Questions & 100% Correct Answers
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Fred Loya Insurance Test Guide withQuestions & 100% Correct Answers
Coin insurance - ✔requires a policy holder to carry insurance equal to a specific percentage
of the total value of the property
Altruism - ✔unselfish regard for a devotion for the welfare of others
Hedonism - ✔Pleasure of happiness is the sole or chief good in life
Insurer - ✔To keep records and remits premiums when due
Insured/Applicant - ✔Insured and applicant rely in the agent forward the premiums
and secure the proper coverage
Express - ✔Oral/written agreement by the insurance
Implied - ✔(authority) The public may be reasonably believe an agent to have
appearnt - ✔action or inaction that gives the agent the impression he/she has
certain authority
, Unfair completion and Practice Advertising Guidelines - ✔Insurance code prohibits any
trade practice which is defined in the act an unfair method of completion or an unfair
deceptive act or practice
Boycott Coercion and Intimidation - ✔Entering into an agreement to commit or
commenting and act of boycott coercion or intimidation unreasonable restraint of or
monopoly in the business
False Financial statement - ✔Filing publishing or placing before the public any false
statement of financial.
False use of statics - ✔Ads cannot use statistics which are false
Rebates - ✔Giving or offering as an inducement in insurance or premiums payable in
the contract special favors or advantage in dividends or benefits
Waiver - ✔legal phrase referring to a party of a contract giving up a right
Estopples - ✔The involuntary relinquishments if a now right
Subrogation - ✔Right to collect a debt from another person in a claiming lawsuit right or debt
Pure Risk - ✔No possible gain
risk - ✔The certainty of a future outcome
Speculative Risk - ✔Involves gain or loss
Peril - ✔The cause of a loss
Ex; accident, fire wind ,hail,collison
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