Actuarial department Study guides, Class notes & Summaries

Webce Life and HealthRepresentations and Warranties - answer-Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - answer-Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help...

Webce Life and HealthRepresentations and Warranties - correct answer Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - correct answer Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes...

Representations and Warranties correct answersRepresentations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments correct answersTwo related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate fu...

Life & Health Insurance Exam With Complete Solutions Graded A+ Actuarial Department calculates policy rates, reserves, and dividends Alien Insurer is an insurer whose principal office and domiciled location is outside US Admitted Insurer an admitted or authorized insurer is an insurer who has received a certification of authority from a state's department of insurance authorizing them to conduct insurance business in that state broker a broker represents themselves and the i...

Florida Life and Health Insurance Practice Questions with Certified Solutions Within how many days must a licensee notify the Department of Financial Services of a change in address? 30 All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT... An agent's commission Which of the following factors is NOT considered when the Department of Financial Services determines if an agent's home is an insurance agency? The amount of premium collected ...

FLORIDA 2-20 EXAM | 837 TEST BANK ACTUAL QUESTIONS AND ANSWERS 100% CORRECT | LATEST UPDATE 2024 {WELL ILLUSTRATED} 1.If someone would suffer economic loss from damage to their property, they have: A: a subrogation right B: a proximate cause C: an insurable interest D: a contingent claim C: an insurable interest 2. A convenience used to provide temporary insurance is called: A - Insurance B - binder C- property coverage D- liability coverage B - binder 3. The failure of ...

Representations and Warranties Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losses and to pro...

Representations and Warranties - ANSWER Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - ANSWER Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losses ...

Property and Casualty Insurance Exam Verified Answers 4 elements of negligence 1. The existence of a DUTY to act in a certain way 2. A FAILURE to live up to this duty 3. An actual INJURY must occur 4. The failure in duty must be the PROXIMATE CAUSE of the injury. 5 Broad Categories of Exclusions -Non-Accidental losses -Losses Controllable by the Insured -Extra Hazardous Perils -Catastrophic Losses -Property Covered in other Policies Absolute Liability Imposed on defendants engaged in...

Which one of the following functional areas of Keithly can assist Alex with this audit's irregularity? Special Investigation Unit Which one of the following best describes a FAIR plan and its insureds? State-run plans with cost spread among private insurers in the state Which one of the following departments provides information to the underwriting department to assist in selecting and rating risks? Risk control All corporations are obligated to promote the well-being of society. At the m...