Usaa exam - Study guides, Class notes & Summaries

USAA Licensing Exam Questions and Answers 2023/2024

USAA Licensing Exam With 100% Correct Answers 2024

3 basic steps of claims investigation Answer - verifying insurance coverage obtain additional information about the claim verify and compare this information what are the 3 types of claim reports Answer - initial for first field -( 24hrs to 7 days( interim or status report - (15-30 days informed) full formal report what are the 2 methods to making estimates for claims Answer - Time and Material method Unit cost method In Texas, the signed and sworn proof of loss statement must b...

USAA API FINAL EXAM STUDY GUIDE WITH CORRECT ANSWERS/LATEST UPDATE 2024 Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. Answer - This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o a license, he was arrested and fined $50. The case went all the way to Supreme Court and was finally decided in 1869, ...

USAA Licensing Exam Questions and Answers 100% AccurateUSAA Licensing Exam Questions and Answers 100% AccurateUSAA Licensing Exam Questions and Answers 100% AccurateUSAA Licensing Exam Questions and Answers 100% Accurate Insurance - ANSWER-Transfer of risk from one person or organization to an insurance company Indemnity - ANSWER-The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - ANSWER-Mathematical principle used by insurers...

USAA LICENSE EXAM 2024/ QUESTIONS WITH CORRECT DETAILED ANSWERS/PASS GUARANTEE!!! What type of reinsurance contract involves two companies automatically sharing their risk exposure? Answer- treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Answer- risk retention group What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained? Answer- Fair ...

USAA Auto Insurance Exam With 100% Correct Answers 2024

USAA Licensing Exam Questions and Answers All Correct Insurance - Answer-Transfer of risk from one person or organization to an insurance company Indemnity - Answer-The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Answer-Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Answer-Proof that someone stands to lose financially if a loss occurs; must exist at the time ...