Liability answ - Study guides, Class notes & Summaries

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 con...

Sole Proprietorship CORRECT ANSWER a business owned and managed by a single individual Simplest form to set up unlimited Liability Partnerships CORRECT ANSWER Business organizations in which two or more persons share responsibilities, costs, profits, and losses. C Corporations CORRECT ANSWER Corporations that have no restrictions on who owns their shares or the number of shareholders; they cannot qualify for subchapter S tax treatment and are subject to direct taxation S corporation C...

WHO REGULATES INSURANCE COMPANIES AND INSURANCE AGENTS IN FLORIDA? a) Bail Bond Regulatory Department of Florida b) Chief Financial Officer c) Lexington Insurance Company d) None of the Above -ANSWER b) Chief Financial Officer WHAT IS THE NAME OF THE PERSON IN CHARGE OF THE DEPARTMENT OF FINANCIAL SERVICES; a) Jebb Bushwater b) Jimmy Patronis c) Jeff Atwater d) None of the above -ANSWER b) Jimmy Patronis WHICH TWO CHAPTERS OF THE FLORIDA STATUTES GOVERNS BAIL BONDSMEN IN ...

Agents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. - correct answer A What is the maximum term of a temporary license that is issued as a result of a licensee's dea...

TESTBANK / 300+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+ 100% CORRECT. 2 / 11 1. What is an emetic? Describe a few examples observed in Environmental Health. ANSW* It is a chemical that induces vomiting. In E.H. emetics are used in VectorControl for rodent control, Red Squill 2. What does USDA stamp on meat signify?: ANSW* The meat products have been processed and inspected by the USDA (United State Department of Agriculture)and has passed food quality inspections 3. Mobil...

Liability Insurance PAP (Part A) CORRECT ANSWER Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP CORRECT ANSWER A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) CORRECT ANSWER A document that proves the existence of insurance coverage Occurrence CORREC...

If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. - correct answer$30,000 Which of the following statements best describes an inland marine policy? - correct answerPertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deductible. What will you pay? - corre...

How do you increase an asset account? CORRECT ANSWER Debit How do you decrease an asset account? CORRECT ANSWER Credit How do you increase a liability account? CORRECT ANSWER Credit How do you decrease a liability account? CORRECT ANSWER debit How do you increase revenue? CORRECT ANSWER Credit How do you increase expenses? CORRECT ANSWER debit What is the accounting equation? CORRECT ANSWER Assets=Liabilities+Owner's Equity Cash is a(n): CORRECT ANSWER Asset Revenue is a...

Communication reduces consequences - ANSW •Altruism the belief in or practice of disinterested and selfless concern for the well-being of others •Rationalization • Accountability •Compensation Hospital Acquired Conditions - ANSW CMS identified conditions that are not present on admission and could be "reasonably preventable", and therefore hospitals are not allowed to receive additional payment for these conditions that do present. focus on loss but don't TQM - ANSW system fo...

Which of the following are contraindications to seclusion and restraint usage? Select all that apply. A. Extremely unstable medical conditions. B. Sever drug reactions or overdoses. C. Sever suicidal tendencies. D. Desire of staff to keep patient and others safe - ANSW- A, B, C During involuntary commitment, the patient retains freedom from unreasonable bodily restraints and the right to refuse medications. True or false - ANSW- true Which of the following are common liability issues rel...