Property and casualty la - Study guides, Class notes & Summaries

PENNYSYLVANIA PROPERTY AND CASUALTY LICENSING EXAM(ACTUAL EXAM) WITH CORRECT 150+ QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST 2024 ALREADY GRADED A+

Exam FX Insurance Practice Exam Questions property and casualty Latest Update Actual Exam 120 Questions and 100% Verified Correct Answers Guaranteed A+

Property and Casualty- Kentucky Laws and Regulationsdomestic insurer - correct answer an insurer formed under the laws of Kentucky Foreign Insurer - correct answer an insurer formed under the laws of any state other than Kentucky Alien Insurer - correct answer an insurer formed under the laws of any country other than a state of the United States certificate of athority - correct answer issued by the executive director evidencing the authority of an insurer to transact insurance in Kent...

What is Insurance? - Transfers the risk of loss from individual to insurance co. What is Risk? - Chance of loss occuring What are 3 types of Hazzards? - Physical, Moral, Morale What is a Peril? - Causes of loss insured against What does Indemnify mean? - Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - Right to seek damages from 3rd party so that the insured cannot collect 2xs. What is an accident? - Sudden unplanned event resulting i...

Chapter 18: Kentucky Laws, Rules, and Regulations Pertinent to Property and Casualty Insurance No provision of the Kentucky insurance code applies to: - correct answer -fraternal benefit societies except as stated in the section relating to them -nonprofit hospital, medical-surgical, dental, and health service corporations except as discussed in the section relating to them -burial associations except as provided under the chapter on assessment or cooperative insurance -assessment or coop...

The powers of the Insurance Commissioner include all of the following EXCEPT: A) making insurance laws. B) conducting hearings. C) conducting examinations of insurers and individuals. D) issuing certificates of authority and licenses. correct answers Answer: A The state legislature is responsible for making insurance laws. The Commissioner is responsible for enforcing them. In addition to any other forfeiture or penalty imposed, a person who violates an insurance rule or statut...

Each of the following statements is true about workers' compensation insurance in Utah EXCEPT: A) employers are liable for the payment of disability and medical benefits to every employee who becomes disabled as a result of an occupational disease. B) coverage is mandatory for partners of a partnership, sole proprietors, and corporate officers and directors. C) coverage is available through private insurers or a competitive state fund. D) the state fund is obligated to accept all risks...

Chapter 18: Kentucky Laws, Rules, and Regulations Pertinent to Property and Casualty Insurance No provision of the Kentucky insurance code applies to: - correct answer -fraternal benefit societies except as stated in the section relating to them -nonprofit hospital, medical-surgical, dental, and health service corporations except as discussed in the section relating to them -burial associations except as provided under the chapter on assessment or cooperative insurance -assessment or coop...

a company in chartered in Guam or Puerto Rico doing regular business in new York would be considered by new yorkers to be a 1. domestic company 2. foreign company 3. alien company 4. international company - Answer 2. foreign company If a company cancels an auto policy mid-term, the refund will be made on a 1. Pro rata basis 2. short rate basis 3. retroactive basis 4. coinsurance basis - Answer 1. pro rata basis What is the term used to describe terminating the insuran...