Contracts of indemnity - Study guides, Class notes & Summaries
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Xcel Life Insurance Exam Actual Test Questions and Answers with complete solution
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Xcel Life Insurance Exam Actual Test Questions and Answers with complete solution 
 
Replacement regulation is designed to protect Answers>> Policyowners from mirepresentation and loss of benefits 
 
All Health Benefit Plans issued after January 1, 2014 must provide Answers>> Preventative health services 
 
Which of these will have the highest monthly payout upon annuitization Answers>> Straight life 
 
Which of the following is included in the entire contract according t...
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CAIB 1 Practice Exam Questions and Answers All Correct
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CAIB 1 Practice Exam 
Questions and Answers All 
Correct 
 
Insurers are in the business of assuming the financial risks of others which involves 
entering into a formal contract. A contract is enforceable at law only when all legal 
elements have been observed. Insurance contracts differ from other formal agreements 
and are subject to what three additional elements? - Answer-Insurable Interest 
Utmost Good Faith 
Indemnity 
Explain the meaning and disadvantage of the following approaches: Avoi...
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ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) 2023-2024
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ADJUSTER PRO - INSURANCE 
ADJUSTER TEST(QUESTIONS AND 
REVIEWED ANSWERS) 2023-2024 
What is insurance? - CORRECT ANSWER-protection against financial loss 
what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an 
insurance policy. 
What are premiums used for - CORRECT ANSWER-premiums are collected into a 
"pool" or "reserve to pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? - 
CORRECT ANSWER-the insurer collect...
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Kentucky Life and Health Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update)
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Kentucky Life and Health Insurance Exam 
Prep| Questions and Verified Answers| 100 % 
Correct| Grade A (New 2024/ 2025 Update) 
 
QUESTION 
 how many days do you have to send the claim forms for filing proof of loss 
 
 
Answer: 
15 days 
 
 
 
QUESTION 
 how long does the insurer have to pay claims 
 
 
Answer: 
30 days 
 
 
 
QUESTION 
 what happens if insurer does not pay claim within 30 days 
 
 
Answer: 
must pay 12% interest and can collect attorney fees incurred to collect claim 
 ...
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Michigan Surplus Lines Insurance Exam Prep questions and answers latest top score.
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Michigan Surplus Lines Insurance Exam Prep questions and answers latest top score. 
 
 
 
 
 
 
 
 
 
(1)Surplus Lines premiums typically expand during: 
A) A soft Market 
B) A Hard Market - correct answers.A Hard Market. 
 
Surplus lines premiums typically expand during a hard market. 
 
(2) During the time of a hard market, insurers will: 
A) Tighten their underwriting standards 
B) Loosen their underwriting standards - correct answers.A) Tighten their underwriting standards. 
 
Tighten and ra...
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Alabama Property and Casualty Exam 2022/2023 with 100% correct answers
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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...
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CLAIMS ADJUSTER EXAM 2024
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CLAIMS ADJUSTER EXAM 2024 
 
 
Insurance - correct answer -an economic device used to protect against extreme unforeseen loss 
- the transfer of risk from one party to another 
 
Premium - correct answer -the fee paid by the insured in exchange for insurance 
 
Principle of Indemnity - correct answer -the insurer should be restored to where they were before the incident 
-no profit can be made 
 
Idemnification - correct answer -to compensate for loss or damage; to provide security for financ...
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LOMA 281 Correct Questions & Answers(RATED A+)
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waiver of premium for payor benefit - ANSWER insurer waives renewal premiums if the policy owner, rather than the insured, dies or becomes totally disabled (must provide evidence of insurability) 
 
Contracts of Indemnity - ANSWER base benefits on the actual amount of the financial loss that results from a covered event when it occurs, subject to maximum limits (other than life insurance) 
 
Valued Contract - ANSWER life insurance policies which state the benefit payable at the time of the polic...
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ACA Final Exam Questions and Answers 100% Pass
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ACA Final Exam Questions and Answers 
 
100% Pass 
 
At the end of this course, you must do which of the following? 
 
Pass the final course exam with a scored of 70% or higher 
 
Print your certificate from this website 
 
Apply for your Insurance Adjuster license at the Florida Department of Financial Services 
website at 
 
All of the above All of the above 
 
Which of the following is NOT one of the duties of the Department of Financial Services? 
 
License adjusters 
Set rates and write pol...
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Life and Health Insurance Cliff Notes 100% Pass
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Life and Health Insurance Cliff Notes 100% Pass 
Multi-line insurer - Correct Answer ️️ -An insurance company selling more than one 
line of insurance 
Commercial Insurers - Correct Answer ️️ -are in the business of selling insurance for a 
profit. Commercial insurance is divided into two main groups: stock and mutual insurers. 
Lloyd's of London - Correct Answer ️️ -is not an insurance company. Members of the 
association form syndicates to underwrite and issue insurance- like cove...
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