Guaranty claims - Study guides, Class notes & Summaries

Wisconsin Life Insurance Course with Complete Solutions Stock Companies -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy owners receive dividends Lloyd's of London -A syndicate of individuals who underwrite insurance Reinsurers -are a specialized branch of the ins...

The Commissioner of Insurance in Mississippi is elected to office for a term of - Answer-4 years The burden of proof for determining that a producer is representing an authorized insurer falls on - Answer-The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is - Answer-$1000 A foreign insurer - Answer-An insurer formed under the laws of any state other than Mississippi would be known as Each of the following is true about the Mississippi R...

OHIO LIFE, ACCIDENT AND HEALTH EXAM WITH 300 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS/ OHIO LIFE, ACCIDENT AND HEALTH INSURANCE LICENSE PRACTICE EXAM (BRAND NEW!) In the event of a Health Insurance Company becoming insolvent, the __________ will pay up to $100,000 for qualifying claims - ANSWER-Ohio Guaranty Fund Time Limits on Health Insurance are Notice of claim: 20 days Claim forms: 15 days Proof of Loss: 90 days Pay the claim: Immediately Wait and see: 60 days Laws...

What is required by the Fair Credit Reporting Act of 1970? - If an applicant is rejected due to findings in a report, the applicant must be provided with the names and address of the reporting agency. An applicant has the right to know anyone questioned regarding the report. An applicant must be notified a report has been requested. Insurable interest exists between all of the following - Husband and wife Blood relatives (parent, grandparent, children and grandchildren) Business partners ...

Wisconsin Life Insurance Course Exam Questions With Answers Graded A+ Stock Companies -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy owners receive dividends Lloyd's of London -A syndicate of individuals who underwrite insurance Reinsurers -are a specialize...

The Kansas Life and Health Insurance Guaranty Act Association Ans- provides payment for covered claims under certain insurance policies in the event that a company is insolvent What are the limits of the KLHIGAA? Ans- Life: $100,00 in death benefits; $100,00 in net surrender value Annuities: $250,00 in present value Health: $100,00 in benefits Underwriting Ans- a method insurer's use to reduce or avoid risk Adverse Selection Ans- reducing risk as much as possible by eliminating as mu...

MARYLAND STATE REAL ESTATE CERTIFICATION PRACTICE EXAM 2024| 50 QUESTIONS COMPLETE WITH EXPLAINED ANSWERS Which of these is NOT a power of the Maryland Real Estate Commission? Which of the following is true regarding claims made against the Guaranty Fund?

South Carolina Laws and Rules Questions and Answers Already Passed An insurance producer is BEST defined as someone who sells, solicits, or negotiates insurance contracts for compensation on be behalf of a client sells, solicits, or negotiates insurance contracts for compensation on behalf of an insurer offers to examine any policy (for a fee) for the purpose of giving advice or recommendations Investigates insurance claims to determine the extent of the insurer's liability sells, sol...

Which of the following is NOT true about the National Association of Insurance Commissioners? - ANSWER-It provides benefits for insurance commissioners Jill wants to start an insurance agency selling property insurance. As such, she must belong to a Guaranty Association, of which there are a few different types. Which of these groups would best fit Jill's needs? - ANSWER-Florida Insurance Guaranty Association In 1945 Congress passed the McCarran-Ferguson Act. What does that act do? - ANSW...

An insurer must obtain the following from the commission's before transacting insurance business - Answer-certificate of authority The guaranty fund provides coverage for unpaid health insurance claims up to: - Answer-$300,000 The commissioner may: - Answer-fine a Producer $10,000 for violating a Cease and Desist order The commissioner must inspect the records of a domestic property or life insurance company Every: - Answer-3 years An insurer may pay commissions directly to the agen...