Insurance terms - Study guides, Class notes & Summaries

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Delaware Life Insurance Exam Terms!!!

Florida Insurance 2-14 Exam Terms Answered Correctly!!

This document contains workings, explanations and solutions to the LCR4805 Assignment 2 (QUALITY ANSWERS) Semester 2 2024. For assistance whats-app us on 0.6.8..8.1.2..0.9.3.4.. QUESTION 1 A local municipality has been hit by a ransomware attack. The municipality releases the following statement: "City power has been hit by a ransomware virus. It has encrypted all our databases, applications and network. Customers will not be able to visit our website or buy electricity units until our ICT depa...

Pearson VUE: Casualty Insurance Practice Exam Questions And Correct Answers An insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone C In insurance, which of the following terms refers to continuous or repeated exposure to conditions that may result in bodily injury...

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...

1. What is a nursing program considered when certified by a state agency? a. Accredited b. Approved c. Provisional d. Exemplified ANS: B Approved means certified by a state agency for having met minimum standards; accredited means certified by the NLN for having met more complex standards. Provisional and exemplified are not terms used in regard to nursing program certification. DIF: Cognitive Level: Knowledge REF: p. 10 OBJ: 5 TOP: Nursing programs KEY: Nursing Process Step: N/A MSC:...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

Jumping Juvenile - Any life insurance written on the life of a minor - Face amount increases at a predetermined age, often 21 - The face amount jumps but the premium remains level 401 K Plan A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Assignment Clause Owner can assign policy ownership either- Absolute: permanent Collateral: temporary Accelerated Death Benefit Rider Policy provision that allows early payme...

(Georgia) GA Personal Lines Insurance Terms Updated 2024 Correctly Questions and Answers 2024 / 2025 (Verified Answers by Expert)