Application of sum rule - Study guides, Class notes & Summaries

Life and Health License Maine Already Graded A+ "Completing application" 2 basic Parts: Part 1: general information Part 2: Medical information "Insurance Transaction" (by email or other means) Solicitation Negotiations Sale Advising an individual concerning coverage or claims "Original Medicare" Part A & B (COBRA) Consolidated Omnibus Budget Reconciliation Act requires any employer with 20 or more employees to extend group health coverage to terminated employees and their famil...

CPPB Study Guides Combined Questions and Answers All Correct A good specification should accomplish the following objectives EXCEPT: identify requirements clearly, allow for competetive bids, identify the advantages of obtaining the product or service, provide for equitable award - Answer-identify the advantages of obtaining the product or service Common law - Answer-A law that is not set forth in statutes, ordinances, or regulation, but evolved over hundreds of years is known as: Adminis...

NJ Life Insurance Exam Correct answers latest update Insurance is the ____ of risk transfer disclosure statements must be given to the applicant no later than the time the application is signed buyer's guide provides general information about the types of life insurance policies available, in language that can be understood by the average person. buyers guide must be delivered by before collecting premium or be delivered with the policy if given at least 10 days free look pe...

peril - ANSWER the immdeiate specific event causing loss and giving rise to risk hazard - ANSWER any factor that gives rise to a peril physical hazard - ANSWER individual characteristics that increase chance of peril *physical condition, past medical history, condition at birth moral hazard - ANSWER tendencies that people may have that increase risk and chance of loss *drug addiction and alcholism morale hazard - ANSWER individual tendencies that arise from an attitude or state of m...

A: First, the distributive property must be used on the left side. This results in 3x + 6 = 14x -5. The addition property is then used to add 5 to both sides, and then to subtract 3x from both sides, resulting in 11 = 11x. Finally, the multiplication property is used to divide each side by 11. Therefore, x = 1 is the solution. - What is the solution? D: First, like terms are collected to obtain 12 - 5x = -5x + 12. Then, the addition principle is used to move the terms with the variable, so ...

WFG Certification Exam - Questions and Answers (Complete Solutions) An insurer enters into a contract with a third party to insure itself against losses from insurance policies it issues. What is this agreement called? Reinsurance An insurer owned by its policyholders is called a Mutual insurer AAA insurance company has transferred a portion of its loss exposure to BBB insurance company. In this reinsurance transaction, what is AAA insurance called Primary insurers Which of the following contr...

WEBCE Life And Health (281 Questions) Complete With 100% Correct Verified Answers Newly Updated 2024 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 a...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

Florida Claims Adjuster Exam 2023 1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 5. Concealment: Th...

Webce Life and Health Exam with complete and verified solutions Representations and Warranties - answerRepresentations 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 - answerTwo related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The...