Idaho insurance stuvia - Study guides, Class notes & Summaries

Which of the following would NOT fall into the category of costs associated with death? A The expense of a vacation for surviving family members B Funeral expenses C Final medical expenses of the insured D Day to day expenses of maintaining the family - ANSWER-A The expense of a vacation for surviving family members If an applicant for a life insurance policy is found to be a substandard risk, the insurance company is most likely to A Lower its insurability standards. B Refuse to is...

another name for insurance agent is: principal producer broker recorder - ANSWER-producer another name for insurer is: principal producer broker policymaker - ANSWER-principal The Broad Form Products Coverage endorsement in commercial auto policies does which of the following? Adds property coverage Removes the defective products exclusion Adds the defective products exclusion Removes property coverage - ANSWER-Removes the defective products exclusion All of the follow...

Idaho Life Insurance Exam Questions and Answers (GRADED A)Idaho Life Insurance Exam Questions and Answers (GRADED A)Idaho Life Insurance Exam Questions and Answers (GRADED A)Idaho Life Insurance Exam Questions and Answers (GRADED A)What is insurance? - ANSWER-Insurance is a contract in which one party (the insurance company) agrees to indemnify (make whole) the insured party against loss, damage or liability arising from an unknown event. It transfers the risk of loss from an individual or busin...

What is insurance? - ANSWER-Insurance is a contract in which one party (the insurance company) agrees to indemnify (make whole) the insured party against loss, damage or liability arising from an unknown event. It transfers the risk of loss from an individual or business to an insurance company. Insurance transaction - ANSWER-Solicitation, Negotiations, Sale, Advising an individual concerning coverage or claims. Two kinds of risk - ANSWER-Pure risk (situation that can only result in a loss...

Idaho Casualty Exam Questions and Answers 100% Correct Idaho Casualty Exam Questions and Answers 100% Correct Idaho Casualty Exam Questions and Answers 100% Correct Idaho Casualty Exam Questions and Answers 100% Correct another name for insurance agent is: principal producer broker recorder - ANSWER-producer another name for insurer is: principal producer broker policymaker - ANSWER-principal The Broad Form Products Coverage endorsement in commercial auto policies does wh...

Idaho Life Insurance Exam Questions and Answers (Graded A)Idaho Life Insurance Exam Questions and Answers (Graded A)Idaho Life Insurance Exam Questions and Answers (Graded A) Accelerated Benefits - ANSWER-Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - ANSWER-A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description o...

Idaho Insurance Questions and Answers (Graded A)Idaho Insurance Questions and Answers (Graded A)Idaho Insurance Questions and Answers (Graded A)Idaho Insurance Questions and Answers (Graded A)Each of the following is listed under the Idaho statute defining "transacting insurance" EXCEPT: - ANSWER-premium trust accounting. The Director of Insurance has the power to regulate Insurance transactions under: - ANSWER-Title 41 of Idaho statutes. It is illegal for an insurance company to adverti...

In Idaho, an insurer is required to give the named insured at least _____ days notice in writing of total premium increases greater than 10% resulting from an increase in rates, changes in deductibles, reduction in limits, or reduction in coverage. 30 20 45 60 - ANSWER-30 In Idaho, what entity is responsible for regulating workers compensation activities, including companies licensed to issue workers compensation policies? The Idaho Industrial Commission The Idaho Department o...

Idaho Life Insurance Exam Questions and Answers 100% AccurateIdaho Life Insurance Exam Questions and Answers 100% AccurateIdaho Life Insurance Exam Questions and Answers 100% AccurateIdaho Life Insurance Exam Questions and Answers 100% AccurateAll of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT A The employer pays a bonus to a selected employee to fund the policy. B It is considered a nonqualified employee benefit. C The policy is ow...

Accidental Death Benefits - ANSWER-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 - ANSWER-An insurance policy that provides payment if the insured's death is the result of the accident. Accumulation Period - ANSWER-The time before an annuitant's retirement during which the annuitant is making payments or investments in an annuity. Acquired Immunodeficiency Synd...