1033 waiver - Study guides, Class notes & Summaries

Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. - Answer- For a loss that would otherwise be covered for the full amount, a reduction of 15% is taken off the claims p...

What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that allows p...

New York Adjuster Exam Questions and Answers Latest 2024 Graded A+. The insured has moved into a dwelling that was being build and was covered by the "Dwelling Under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? 30 days When a New York Homeowners policy is still in the 60-day underwriting period, the insurer may cancel it for any reason by providing a ______ notice. 30 day Personal property that is covered under the Perso...

Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. - For a loss that would otherwise be covered for the full amount, a reduction of 15% is taken off the claims payment be...

Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. Correct Answer For a loss that would otherwise be covered for the full amount, a reduction of 15% is taken off the cla...

Life and Health Insurance License (Maryland) All Answers Correct "Maximum benefits" refers to the ️upper limit of the total lifetime benefits the insurance company will pay 1033 Waiver ️a personal convicted of a felony may apply for a ____ to transact insurance business. A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n) ️optional renewability clause A disability elimination period is best described as a ️time deductible A di...

Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. - ANSWER For a loss that would otherwise be covered for the full amount, a reduction of 15% is taken off the claims pa...

Arizona Life Insurance Exam - Insurance Regulations Latest 2024 Graded A Cease and Desist To stop or discontinue Coercion Forceful act or threat aimed to influence a person to act against his or her will Commission Payment to the agent by the insurance company for placing insurance, usually a percentage of the policy premium Director The head of the state Department of Insurance Exempt Not subject to an obligation Home State A state in which an insurer is organized and has its main place of...

Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. - For a loss that would otherwise be covered for the full amount, a reduction of 15% is taken off the claims payment be...

New York Adjuster Exam Questions and Answers Graded A+. The insured has moved into a dwelling that was being build and was covered by the "Dwelling Under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? 30 days When a New York Homeowners policy is still in the 60-day underwriting period, the insurer may cancel it for any reason by providing a ______ notice. 30 day Personal property that is covered under the Personal Property...