Actuarial department Study guides, Class notes & Summaries

Representations and Warranties correct answersRepresentations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments correct answersTwo related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate fu...

Midterm - 1265In the US, what is health insurance? - correct answer Reduction of a person's or a group's exposure to risk for unknown healthcare costs by the assumption of that risk by an entity Dr. Gilbert sees a 14-old-male with adolescent idiopathic thoracic scoliosis. Surgery for spinal fusion was canceled after the patient was diagnosed with mononucleosis. On today's visit, the patient is started on prednisone for severe sore throat and difficulty swallowing. The patient was accompani...

WEBCE Life And Health Exam (281 Questions) With 100% Correct & Verified Answers Representations and Warranties Correct Answer: Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments Correct Answer: Two related insurance company functions. Through the process of _________, applications are assessed for insurability a...

Recent 2023 Texas Adjuster Exam 100% Correct Questions And Answers If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. - Answer- $30,000 Which of the following statements best describes an inland marine policy? - Answer- Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensi...

Actuarial Department - Answer Calculates policy rates, reserves, and dividends Alien Insurer - Answer An insurer whose principal office and domiciled in a country other than the United States. Admitted Insurer - Answer An insurer to which a state insurance department has granted a license to do business within that state. Broker - Answer A Broker represents themselves and the insured. Captive Insurer - Answer An insurer owned by a parent firm for the purpose of insurin...

CPCU 520 Practice Test Questions and Answers Rated A+ Which one of the following functional areas of Keithly can assist Alex with this audit's irregularity? Special Investigation Unit Which one of the following best describes a FAIR plan and its insureds? State-run plans with cost spread among private insurers in the state Which one of the following departments provides information to the underwriting department to assist in selecting and rating risks? Risk control All corpo...

Texas Insurance Adjuster Certification Exam (2024) – All Questions & Solutions (Graded A+) Texas Insurance Adjuster Certification Exam (2024) – All Questions & Solutions (Graded A+) If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. - ANSWER - $30,000 Which of the following statements best describes an inland marine policy? - ANSWER - Pertains to Cargo with no fixe...

Colorado Accident & health laws state Exam simulator Questions and Answers Latest Updated 2024/2025 | Graded A+ . Which of the following is an example of defamation? A brochure including an untrue statement regarding a competitor's ability to pay claims A truthful estimate of the dividends A pamphlet listing a competitor's financial rating A verbal statement of a competitor's complaint ratio A brochure including an untrue statement regarding a competitor's ability to pay claims Which o...

Representations and Warranties - Answer- Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - Answer- Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losse...

2024 Texas Adjuster Exam Questions with Verified Answers If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. $30,000 Which of the following statements best describes an inland marine policy? Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deduct...