100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
personal lines exam Questions and Answers $15.99   Add to cart

Exam (elaborations)

personal lines exam Questions and Answers

 10 views  0 purchase
  • Course
  • Personal lines insurance
  • Institution
  • Personal Lines Insurance

Exam of 6 pages for the course Personal lines insurance at Personal lines insurance (personal lines exam)

Preview 2 out of 6  pages

  • August 8, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Personal lines insurance
  • Personal lines insurance
avatar-seller
julianah420
personal lines exam


declarations page includes: - answer•name of insured
•address
•amount of coverage provided
•description of property
•cost of the property

insuring agreement states: - answer•what is to be covered
•losses which the insured will be indemnified
•types of property covered
•perils against which it is insured

conditions - answerground rulez

conditions describe: - answerthe responsibilities and obligations of both the Insurance
company and the insured

duties of the insured after a loss include: - answer•giving prompt notice of claim
•protecting property from further damage
•completing detailed proof of loss
•making property available for inspection
•submitting exam under oath if required
•assisting during claim investigation procedure

proof of loss - answerpolicy holders statement of the amount of money being requested,
sign to and sworn by the policy holder with documentation to support the amount
requested

appraisal - answerprocedure when insured and insured disagree on the amount of loss

other insurance provision - answerestablishes how loss is to apportioned among
insurers

elements of a contract - answer1. competent parties
2. legal purpose
3. offer and acceptance
4. consideration

consideration insured gives: - answerpremium payment

, consideration insurer gives: - answerpay for certain losses

gramm leach briley - answerfederal law requires financial institutions to explain how
they share and protect their customers private info

fair credit reporting act - answerfederal law allows consumers who are denied insurance
because of I do contained in a credit report to be notified and allowed to obtain the info
used in report

what are the insurance commissioners duties? - answer•governor appointed
•regulate affairs
•aid in interpretation of law
•issue, renew, revoke, suspend licenses
•prescribe forms
•forfeiture up to $1000

how often does the commissioner examine each admitted insurer? - answera least once
every 5 years

how long will a company have to request a hearing after examination? - answer20 days

NAIC - answersets standards and regulates organizations

how long does a commissioner have to notify and individual of the charges, time, and
place of hearing? - answer10 days

what are the commissioners hearing authorities? - answer1. subpoena witnesses
2. administer oaths
3. examine
4. cross examine
5. receive evidence
6. require the production of books and records

what are the punitive authorities of the commissioner after hearing? - answer1. fines
2. penalties
3. assess costs of an investigation or proceeding
4. order restitution
5. other corrective action deemed necessary

cease and desist order - answercommissioner requests producer to stop selling
insurance until hearing

after receiving a cease and desist order, how long does an individual have to request a
hearing? - answer30 day's

insurance license application - answer•18 years old

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78998 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.99
  • (0)
  Add to cart