Insurable risk - Study guides, Class notes & Summaries
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California PSI Site - Life, Accident and Health Agent Examination (Life Agent) | Questions & Solutions (100% Correct)
- Exam (elaborations) • 19 pages • 2024
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California PSI Site - Life, Accident and Health Agent Examination (Life Agent) | Questions & Solutions (100% Correct) 
California PSI Site - Life, Accident and Health Agent Examination (Life Agent) | Questions & Solutions (100% Correct) 
 
Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER - An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) 
 
A non-...
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Wyoming Producer License Test | Questions with 100% Correct Answers | Verified | Latest Update 2024
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Which of the following is most closely related to the concept of insurable interest? 
A. Loss valuation 
B. Indemnity 
C. Actual cash value 
D. Replacement cost - B. Indemnity 
An insured is indemnified to the degree of his insurable interest in the covered property. 
Replacement cost minus depreciation best defines 
A. actual cash value 
B. direct loss value 
C. insurable interest 
D. financial risk - A. actual cash value 
Actual cash value (ACV) is equal to replacement cost minus depreciation....
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LA Life, Health & Accident Insurance Series 103 Practice Exam Questions and Answers Already Passed
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LA Life, Health & Accident Insurance Series 103 Practice Exam Questions and Answers Already Passed 
Under which situation must insurable interest exist between the applicant and insured at the time of application? When a third-party applicant names themselves beneficiary. 
Which of the following is true about a decreasing term life policy? The face amount reaches zero at policy expiration. 
Which of the following occurs immediately after the application is submitted and the initial premium paid?...
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Life Insurance Exam-Illinois questions with 100% correct answers 2023 passed
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Life Insurance Exam-IllinoisPooling of Risks - correct answer A large group of people contribute money to a fund out of which their losses can be paid 
 
Policyowner - correct answer is the person or org that applies for the policy and pays the premium 
 
Actuarial Tables - correct answer Are statistical tables that are used when calculating premium rates and mortality loss reserves 
 
Life Insurance Policies transfer: - correct answer financial risks of premature death on a defined amount 
 
Lo...
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USAA P&C Insurance Adjuster EXAM QUESTIONS CORRECTLY ANSWERED
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USAA P&C Insurance Adjuster EXAM 
QUESTIONS CORRECTLY ANSWERED 
Perils - ANSWER Causes of loss identified in the policy (Fire, lightening, internal 
explosion ,Wind, Hail, Collision) 
Hazard - ANSWER Condition that create or increases the chance or loss or contributes 
to the loss 
Physical Hazard - ANSWER Visible ( operational features of a risk) 
Moral Hazard - ANSWER Intentional dishonesty or illegal actions of a person (arson) 
Morale Hazard - ANSWER Carelessness or indifference ( attitud...
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions
- Exam (elaborations) • 19 pages • 2023
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete SolutionsCA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete SolutionsAdmitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) 
 
A non-admitted insurance company is not authorized to transa...
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions with 100 % correct Answers | Verified
- Exam (elaborations) • 8 pages • 2023
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Admitted Insurance Company vs. Non-Admitted Insurance Company - An admitted insurance 
company is authorized to transact insurance in California because it has a Certificate of Authority 
granted by the California Department of Insurance (CDI) 
A non-admitted insurance company is not authorized to transact insurance in California because of 
failing to comply with California requirements or did not seek admission 
Pure Risk vs. Speculative Risk - Pure risks are insurable but Speculative risks ar...
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Life, accident and health insurance state exam- OH Already Passed
- Exam (elaborations) • 31 pages • 2023
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Life, accident and health insurance state exam- OH Already Passed 
A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? preferred 
Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has better than average mortality 
The waiver of premium does NOT include which provision? Al future premiums are waived if the insured recovers from the disability 
An advertisement for an insurance produ...
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Florida 2-15 Insurance Final Exam Test Bank (All Chapters complete 1-30, Questions and Answers, 100% Verified) Latest 2023/2024
- Exam (elaborations) • 131 pages • 2023
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Florida 2-15 Insurance Final Exam Test Bank (All Chapters complete 1-30, Questions and Answers, 100% Verified) Latest 2023/2024 
1. A life insurance company is organized in Orlando where it maintains its home 
office. In Florida, the company is classified as a 
a. domestic company 
b. local company 
c. foreign company 
d. preferred company 
a 
2. With regard to life insurance, all of the following statements are correct 
EXCEPT 
a. all individuals are considered to have insurable interests i...
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LOMA 281 Module 4 | 174 Questions & Answers Solved 100% Correct!!
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Group Insurance - A method of providing life or health insurance coverage for a group of people 
under one insurance contract. 
commonly provide: 
- life insurance, medical expense insurance, disability insurance, and dental insurance coverage 
Master group insurance contract - An insurance contract that insures a number of people. 
Group insured - An individual covered by a group insurance policy. 
Group policyholder - The person or organization that decides what types of group insurance 
cover...
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