Insuring agreement states Study guides, Class notes & Summaries
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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
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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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Nevada Life and Health License Exam Prep Questions with 100% Correct Answers
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Nevada Life and Health License Exam Prep 
Questions with 100% Correct Answers 
What are the four required elements of an insurance contract? - Answer- Agreement, 
consideration, competent parties, and legal purpose. 
What two parts make up a life insurance application? - Answer- General Information 
and the Medical Information. An agent's report can go in a life insurance application but 
is not included in the life insurance policy. 
When must insurable interest exist in life insurance? - Answe...
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Adjuster Pro - Insurance adjuster test latest 2023 already passed
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Adjuster Pro - Insurance adjuster test latest 2023 already passed What is insurance? protection against financial loss 
what is a premium a scheduled amount to be paid for an insurance policy. 
What are premiums used for 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? the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. 
what is Ind...
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Property and Casualty Insurance Mastery Exam A Questions and Answers 100% Pass
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Property and Casualty Insurance Mastery Exam A 
Questions and Answers 100% Pass 
An insured rents a car while on vacation in Canada and causes an accident. Is there 
coverage under his personal auto policy? - Correct Answer ️️ -The loss is covered 
under an unendorsed personal auto policy. 
Under the workers' compensation laws, which of the following would NOT be covered? - 
Correct Answer ️️ -Heart-related illness resulting from hereditary causes 
An insurance policy covers fire, will ...
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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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Texas Property and Casualty Exam Questions and Answers Verified 100%
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Texas Property and Casualty Exam Questions and Answers Verified 100% 
 
____ is uncertainty of loss - risk 
 
____ is a transfer of risk from the insured to the insurer - insurance 
 
____ risk means there is no chance of gain. It is insurable. - pure 
 
____ risk means there is a chance of a loss or a gain. It is not insurable. - speculative 
 
a ____ is something that increases the risk. - hazard 
 
the principle of _____ governs property and casualty policies. It states that the purpose of th...
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WebCe - Commercial Lines 101 Questions and Answers 100% Correct!
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What is the underwriter's goal? - ANSWER-To write a book of business in which the actual losses approximate the expected losses. 
 
Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - ANSWER-Independent agency 
 
When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally co...
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Insurance Adjuster Exam Questions and Answers Rated A+
- Exam (elaborations) • 37 pages • 2023
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Insurance Adjuster Exam Questions and Answers Rated A+ Which kind of losses are covered under a standard fire policy? Direct 
All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow 
At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's property 
A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the insur...
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NJ Property State Exam Questions and Answers
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Risk - ANSWER-the chance or uncertainty of loss 
 
Risk - ANSWER-used within the insurance industry to refer to the subject of the insurance policy 
 
Possibility of loss - ANSWER-the concept of risk involves ___________________ 
 
Insurance - ANSWER-a formal social device used to accomplish the transfer of risk from an insured to the insurer 
 
Insurance policy - ANSWER-a legal contract in which the premium paid represents a small certain cost exchanged so that the insurer will cover the possib...
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WebCe - Commercial Lines 101 Exam Questions and Answers
- Exam (elaborations) • 2 pages • 2023
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What is the underwriter's goal? - Answer- To write a book of business in which the actual losses approximate the expected losses. 
 
Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - Answer- Independent agency 
 
When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally ...
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