Insurers consideration - Study guides, Class notes & Summaries
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WebCE Exam Questions with correct Answers
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Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. 
Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. 
 
Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. 
Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...
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Virginia Property and Casualty Insurance Exam Review (Latest 2024/ 2025 Update) Practice Questions and Verified Answers| 100% Correct| Grade A
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Virginia Property and Casualty Insurance 
Exam Review (Latest 2024/ 2025 Update) 
Practice Questions and Verified Answers| 
100% Correct| Grade A 
 
 
Q: What is high risk coverage purchased from an unauthorized company? 
 
 
Answer: 
Surplus Lines Insurers 
 
 
 
Q: How are insurance companies defined? 
 
 
Answer: 
Where they are located, chartered, or incorporated. 
 
 
 
Q: What protects policy holders from an insurer's insolvency? 
 
 
Answer: 
Property and Casualty Insurance Guara...
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Texas Life and Health Insurance Exam (question and answers) 2022/2023
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At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application 
 
Who elects the governing body of a mutual insurance company? - ANSWER policyholders 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act 
 
What type of reinsurance contract involves two companies automatically sharing their ri...
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Texas Life and Health Insurance Exam (Answered) Verified Solution
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Texas Life and Health Insurance Exam (Answered) Verified Solution 
 
At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? 
Upon completion of the application 
Who elects the governing body of a mutual insurance company? 
policyholders 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the 
Fair Credit Reporting Act 
What type of reinsurance contract involves two c...
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TN HEALTH AND LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS
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TN HEALTH AND LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS 
 
Which of the following reimburses its insureds for covered medical expenses? 
- health maintenance organizations 
- preferred provider organizations 
- commercial insurers 
- service providers - correct answer COMMERCIAL INSURERS 
- Commercial insurance companies function on the reimbursement approach. Policyowners obtain medical treatment from whatever source they feel is most appropriate and submit their charges to their insur...
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Virginia Life Insurance and Annuities Questions and Answers Rated A+
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Virginia Life Insurance and Annuities 
Questions and Answers Rated A+ 
 
Methods of Handling Risk (STARR) 1. Sharing (each member of group pays portion of loss) 
2. Transfer (spreading risk among customers) 
3. Avoidance (not engaging in certain activity) 
4. Reduction (lessening chance) 
5. Retention (indiv pays for loss) 
 
Elements of Insurable Risk (CANHAM) 1. Calculable (based on prior loss stats) 
2. Affordable (for avg consumer) 
3. Non-catastrophic (no widespread loss events) 
4. Homogen...
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IDAHO PROPERTY & CASUALTY INSURANCE EXAM 2024 WITH 200 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS) IDAHO PROPERTY & CASUALTY INSURERS LICENSE EXAM TEST BANK (NEW!!)
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IDAHO PROPERTY & CASUALTY INSURANCE EXAM 2024 WITH 200 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS) IDAHO PROPERTY & CASUALTY INSURERS LICENSE EXAM TEST BANK (NEW!!) 
Department of Insurance (DOI) - ANSWER-is a regulatory agency created to 
regulate the business of insurance in Idaho. 
Which of the following terms describes a legal agreement between two competent 
parties that promises a certain performance in exchange for a certain 
consideration? 
A. An offer 
B. an acceptance ...
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AU62 Course Exam Practice Questions & Answers, 100% Accurate. Verified.
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AU62 Course Exam Practice Questions & Answers, 100% Accurate. Verified. 
 
 
An organization may incur losses from legal liabilities in a number of different ways. Which one of the following actions would best be described as an intentional tort? - -A newspaper mistakenly identifies the driver in an alcohol-related hit and run accident as John Doe, a prominent local attorney. 
 
Martin, a 15-year-old boy, carelessly tossed a glass bottle over the heads of several people toward a recycling bin 15...
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Indiana Property and Casualty Insurance Exam Complete Questions & Answers(RATED A)
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National Association of Insurance Commissioners (NAIC) - ANSWER is an association of all of the state insurance commissioners active in insurance regulatory problems and in forming and recommending model legislation and requirements. The NAIC does not directly MAKE laws, as laws are made at the state level. They do work on suggesting standards for states to adopt with the goal of a standardizing the insurance industry throughout the United States of America. 
 
State Guaranty Association - ANSWE...
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Wisconsin Casualty Questions and Answers Already Passed
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Wisconsin Casualty Questions and 
 
Answers Already Passed 
 
A situation in which a person can experience only a loss and no gain presents what type of risk? 
Pure Risk 
 
A tornado that destroys a property would be an example of what? Peril 
 
What type of authority is based on the agent's actions, or words? Apparents 
 
If an insurer holds a Certificate of Authority, it is know as what type of insurer? Authorized 
or admitted 
 
What document is required for an insurance company to transact ...
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