NURSING TEST

CPCU 551 - Chapter 7 Questions and Answers business income insurance Insurance that covers the reduction in an organization's income when operations are interrupted by damage to property caused by a covered peril net income the difference between total revenue and total expenses when total revenue is greater Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More profit net income that results when revenu...

CPCU 551 - Chapter 8 Questions and Answers To resolve the disputes between fire underwriters and marine underwriters, insurance regulators in 1933 introduced the Nationwide Marine Definition. It restricted marine insurers to covering the loss exposures included in the Definition. Today, the Definition continues to be used for classification purposes and remains useful in determining the types of insurance that are exempt from filing requirements. Explain the historical and modern purpose of th...

CPCU 530 Applying Legal Concepts to Insurance Questions & Answers Elements of a legally binding contract -Agreement (includes the offer and acceptance) -Capacity (or competence) of all involved parties -Mutual assent -Consideration -Legal purpose -Proper, legally required form -pg. 1.4 Offeror The party to a contract who promises to give something in return for a promise or an act by another party -pg. 1.4 Previous Play Next Rewind 10 seconds Move forward 10 seconds...

CPCU 500 - Identifying and Analyzing Costly Risks 3.2 Questions and Answers Incorporating individuals from multiple areas of an organization into the risk identification process can __________ bring more risks to light as well as reveal how those risks are interconnected Effective team approaches to identifying risks include? 1) Facilitated workshops, 2) The Delphi technique, 3) Scenario analysis, 4) HAZOP (hazard and operability study), 5) SWOT (strengths, weaknesses, oppo...

CPCU Exam 1 Questions and Answers Probability The likelihood that an outcome or event will occur Risk Uncertainty about outcomes, with the possibility that some outcomes can be negative Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:08 / 0:15 Full screen Brainpower Read More Pure Risk A chance of loss or no loss, but no chance of gain Speculative Risk A chance of loss, no loss, or gain Credit Risk The risk that customers or o...

CPCU 530 Test questions & Answers True -If the jurisdiction of the federal courts is based on diversity of citizenship, the subject matter of the dispute may be which state's law applies Judical Branch -is charged with deciding if another branch of government has the power to enact a new law Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:05 / 0:15 Full screen Brainpower Read More Complaint -This must include a requested remedy Rule...

Final Practice Exam - CPCU 540 Questions and Answers Sean owns a retail men's clothing store. After a recent fire, the insurance adjuster requested copies of the store's most recent financial statements. The adjuster is more likely to use the statements to Estimate the inventory on hand at the dat of the loss Why is it so important for a corporation to adopt a code of ethics? A code of ethics provides a means of actively managing ethics in the workplace 0:28 / 1:27 5 ...

CPCU 500 EXAM 3 Questions & Answers To accurately determine its level of risk, an organization must examine the effectiveness of its efforts to prevent losses from occurring and to reduce the severity of losses that do occur. An organization's efforts in this area are called Risk control After a month in which three employees were seriously injured at company paper mills, Ashley, the risk manager of Bright White Paper Company, wanted some answers about the causes of employee injuries...

CPCU 551 - Chapter 4 Questions & Answers Blanket Insurance Insurance that covers either of the following with one limit of insurance: (1) one type of property in one or more separately rated buildings or (2) two or more types of property in one or more separately rated buildings. A disadvantage of blanket insurance is that the minimum coinsurance percentage is ____% 90% Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:06 / 0:15 Full screen Brainp...

CPCU 500 Questions and Answers insurtech the use of emerging technologies in the insurance industry connected ecosystem The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More mechanical sensors pressure sensors, flow sensors, mo...