Usaa auto insurance terms - Study guides, Class notes & Summaries

USAA Auto Insurance Terms EXAM QUESTIONS CORRECTLY ANSWERED New York USAA EXAM QUESTIONS CORRECTLY ANSWERED Watercraft liability, medical expenses and uninsured boaters are coverages provided under which of the following policies? I. Watercraft. II. Homeowners. III. Mariners. - ANSWER I only is correct. Explanation: Watercraft policies are designed to cover boats used primarily on fresh water streams and lakes. It is a package policy providing several coverages including hull, mo...

USAA Auto Insurance Terms Exam Questions and Answers Terrorism Risk Insurance Act (TRIA) - ️️ In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen - ️️ In 2005 legislation was modified and coverage was extended by the Terrorism Risk Insurance Extension Act FCRA- when, what, and what it stands for - ️️ In 1970 the Fair ...

USAA Licensing Exam 2023 Passed 100% Insurance *** Transfer of risk from one person or organization to an insurance company Indemnity *** The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers *** Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest *** Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty...

USAA Auto Insurance Terms Exam Questions with correct Answers

USAA API EXAM Q&A Correctly Solved Rated A+ Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. -ANS- This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o a license, he was arrested and fined $50. The case went all the way to Supreme Court and was finally decided in 1869, that insurance wasn't intersta...