Accidental breach causes Study guides, Class notes & Summaries

1 AIC 301 QUIZ/TEST STUDY EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Market Share Liability Correct Answer: Applies when a product that has harmed a consumer cannot be traced to a single manufacturer. They are liable unless they can prove they could not have made the product involved. A Defense to Fraud Correct Answer: The defendant must make the representation with the intent to influence the other party's action. If the defendant did not intend to deceiv...

A - UTAH: A person applying for an adjuster's license in Utah must (BSPEBS): - Answer * Be at least 18 years old * SSN * Personal History * Experience * Business Record * Submit a non-refundable fee B - UTAH: A non-resident agent (a new agent) moving into Utah must apply within __________ days to become a resident licensee. - Answer 90 C - UTAH: Qualifications: A licensee must - - Answer * At least 18 years old * Good faith * No controlled business * No grounds for denial, suspens...

Law of Large Numbers - Answer the more examples used to develop any statistic, the more reliable the statistic will be Underwriting - Answer The process and insurance company uses to decide whether to except or reject an application for a policy insurance. underwriters evaluate the risk and exposure of a potential policyholders they decide how much coverage the policyholder should receive how much they should pay for it or whether even to except the risk and insure them. underwriting involves...

Alabama Property and Casualty Sample Quiz 1-100 Already Passed What is a hazard? an increase in the possibility that a loss might occur transfer risk from a person or business to an insurance company that agrees to to pay for losses in exchange for a premium. insurance The type of insurance company in which the policyholder is considered an owner, with the right to vote and share in the profits is a mutual company Jewel Canford's home is insured by XYZ Insurance Company. Last year she made t...

Chapter 03 - Tort Law True / False Questions 1. A person who commits a tort is called a tortfeasor. TRUE Blooms: Remember Learning Objective: 03-01 Define the concept of tort law. Topic: 03-01 What Is Tort Law? 2. Tort law is law related to wrongdoing by a business or individual. TRUE Blooms: Remember Learning Objective: 03-01 Define the concept of tort law. Topic: 03-01 What Is Tort Law? Chapter 03 Tort Law 3. A tort is an action committed by an individual or business that causes i...

WGU C838 - Managing Cloud Security Specialist 4 Version of Exam (3 Actual Exam and 1 Study Guide). You are the security subject matter expert (SME) for an organization considering a transition from the legacy environment into a hosted cloud provider 's data center. One of the challenges you 're facing is whether the cloud provider will be able to comply with the existing legislative and contractual frameworks your organization is required to follow. This is a _________ issue. a. Resilien...

Texas All Lines Adjuster Test 2023 With verified solutions Accumulated Depreciation - CORRECT ANS The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - CORRECT ANS The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) - CORRECT ANS A valuation method used by insure...

ALABAMA ADJUSTERS LICENSE EXAM 2024| 370 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS Accident Insurance - ANSWER>>Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal Accumulated Depreciation - ANSWER>>The total decrease in an item's value over a period of time. Formula: (ann...

What is insurance? - Answer Insurance is a contract in which one party (the insurance company) agrees to indemnify (make whole) the insured party against loss, damage or liability arising from an unknown event. It transfers the risk of loss from an individual or business to an insurance company. Insurance transaction - Answer Solicitation, Negotiations, Sale, Advising an individual concerning coverage or claims. Two kinds of risk - Answer Pure risk (situation that can only result in a loss...