Exam Fx Tests Compilation BUNDLE

What type of licensee represents the insured? Correct Answer: Broker When can the Commissioner or Director examine insurers? Correct Answer: Whenever deemed necessary, but at least once every few years (please check your state regulations for specific time requirement) Who must be a member o...

Exam FX Stimulation | 150 Questions with 100% Correct Answers | 35 Pages1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. ...

1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. - 2. Coverage by endorsement. 2. Personal business property out in the o...

To be considered an insurable risk, a loss may NOT be Correct Answer: catastrophic Which of the following persons would be required to hold a producer license? Correct Answer: a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance?...

What two elements are necessary to a life insurance contract to have a legal purpose? - 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Loss What Type of Risk is Insurable? - Pure What is the term for the causes of loss insured against in a insurance p...

Insurers are classified to their domiciles. What are the three types of insurers? Correct Answer: 1) Domestic 2) Foreign 3) Alien An insurance policy paid a nontaxable dividend to the insured one year, and nothing the next. From what type of insurer did the insured purchase the policy? ...

The Louisiana insurance Guaranty Association Board of Directors are placed in office by - election and appointment States with monopolistic state workers compensation funds - Do not allow private insurers to be licensed to write workers compensation coverage This state provided for a temporary licen...

An applicant for a health insurance policy returns a completed application to her agent, along with a check for the first premium. She receives a conditional receipt two weeks later. Which of the following has the insurer done by this point? Correct Answer: Neither approved the application nor issu...