How was the nfip created - Study guides, Class notes & Summaries

NJ Property/Casualty Insurance Exam Set Updated Latest 2023. NJ Property/ Casualty Insurance Exam Why was the commercial Insurance Deregulation Act Created? - ANSWER-To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANS...

NJ Property/ Casualty Insurance Exam Set Updated Latest 2023. NJ Property/ Casualty Insurance Exam Why was the commercial Insurance Deregulation Act Created? - ANSWER-To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - AN...

NJ Property/ Casualty Insurance Exam Set Questions and Correct Answers (Verified by Expert) Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What l...

Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from flood insurance? -Landslides -Sewer backup -Windblown Ra...

Riverine, Coastal, and Shallow Flooding - ANSWER What are the three most common types of flooding? Flash Flooding - ANSWER Which type of flooding has accounted for the most flood-related deaths? Meander - ANSWER A curve or turn in a river channel? Storm Surge - ANSWER What is the major cause in coastal flooding? Underwater earthquakes or volcanoes - ANSWER What causes a tsunami? 1. Closed Basin Lakes 2. Uncertain flow paths 3. Dam breaks 4. Ice jams 5. Mudflows - ANSWER List t...

Why was the commercial Insurance Deregulation Act Created? - ANSWER-To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANSWER-30 days before What losses are excluded from flood insurance? - ANSWER--Landslides -Sewer b...

CISR: Agency Operations Exam 100 Questions with Answers Types of Stakeholders - CORRECT ANSWER managers and employees customers insurers vendors industry associations government Transfer - CORRECT ANSWER Insurance: transfer of financial consequence to an insurance company Non Insurance: when a customer transfers financial consequences to another by contract or agreement Retention - CORRECT ANSWER Active: when a customer knows before the loss that they are responsible for all...

QUESTIONS AND ANSWERS

AYPORealEstate Test 1 Disparate impact - ANS A set of criteria which are not directly targeted at a specific group but will disproportionately affect that group. What purpose is served by regulating real estate licensing? - ANS 1. prtect the eneral public during real estate transactions from dishonest or incompetent brokers and sales agents. 2. maintain high standards or the real estate profession 3. set out minimum standards and qualifications for licensing brokers and...

CISR Agency Operations Exam 265 Questions with Answers Professional - CORRECT ANSWER an adjective used to describe appearance, attitude, or actions Acting Ethically and Professionally - CORRECT ANSWER you put the needs of your clients above your own Ethics - CORRECT ANSWER a system or set of moral principles or practice a set of rules or standards based on a set of principles or values we accept as truths and that govern our behavior Factors that influence ethics - CORRECT ANSWER Fr...