Alien insurer an - Study guides, Class notes & Summaries

Representations and Warranties 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 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 losses and to produ...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer -B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Re...

Cosmetology Hawaii License Test Exam NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ An insurance company that is formed in Canada would be - CORRECT ANSWER Alien A person who acts on behalf of insurance company is called - CORRECT ANSWER Independent Adjuster At what year can one become an adjuster - CORRECT ANSWER 18 years old Which of the following would be eligible under BOP - CORRECT ANSWER Six story apartment building...

Primerica Practice Exam Test A 75 Questions & Answers 2023 1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured ...

Misrepresentation of material fact, made knowingly with intent to be deceptive? - ANSWER ☑☑Fraud Insurable Interest must exist when for property/casualty and life insurance? - ANSWER ☑☑Property/Casualty: Time of loss or claim occurs Life Insurance: Only at time of application when policy is purchased In order for a group to be eligible for group life insurance what must the group not have done? - ANSWER ☑☑The group must not have formed for the purpose of purchasing life ins...

Massachusetts Life Latest Update Graded A+ Accelerated Benefits Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance An insurance policy that provides payment if the insured's death is the result of an accident....

NEBRASKA CROP INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS Mutual - Precise Answer A ________ insurance company is owned by its policyholders. Reinsurance - Precise Answer If an insurance company wants to transfer all or part of the risk it has accepted, it would buy which of the following types of insurance? Domestic Insurer - Precise Answer An insurer organized under the laws of this state, whether or not it is admitted to do business in this state. Foreign Insurer - Pre...

Kentucky Life and Health Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: what is loss exposure state of being subject to a passible loss Q: what does it mean to be defineable Answer: definite as to time, cause and location Q: what does it mean to be measurable Answer: companies will state how much they will pay for a covered loss Q: is loss due to war covered Answer: no Q: can accidental b...