Usaa licensing Study guides, Class notes & Summaries

Law of Large numbers - ans-Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - ans-Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Risk - ans-Chance of loss; uncertainty of loss Speculative Risk - ans-Involves the simultaneous chance of gain or loss: is not insurable Pure Risk - ans-a risk that presents the chance of loss b...

USAA Licensing Exam QUESTIONS AND ANSWERS | VERIFIED UPDATE Insurance - ANSWER Transfer of risk from one person or organization to an insurance company Indemnity - ANSWER The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - ANSWER Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - ANSWER Proof that someone stands to lose financially if a loss occurs; must exist at ...

USAA Licensing Exam Questions and Answers 2023/2024

Insurance correct answers Transfer of risk from one person or organization to an insurance company Indemnity correct answers The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers correct answers Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest correct answers Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and ...

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USAA Licensing Exam QUESTIONS CORRECTLY ANSWERED Insurance - ANSWER Transfer of risk from one person or organization to an insurance company What is Indemnity? - ANSWER The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - ANSWER Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - ANSWER Proof that someone stands to lose financially if a loss occurs; must exist at t...

USAA Licensing Exam With Complete Solutions/USAA Licensing Exam With Complete Solutions/USAA Licensing Exam With Complete Solutions/USAA Licensing Exam With Complete Solutions/USAA Licensing Exam With Complete Solutions/USAA Licensing Exam With Complete Solutions/USAA Licensing Exam With Complete Solutions

USAA Licensing Exam Questions and Answers All Correct Insurance - Answer-Transfer of risk from one person or organization to an insurance company Indemnity - Answer-The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Answer-Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Answer-Proof that someone stands to lose financially if a loss occurs; must exist at the time ...

USAA Licensing Exam Questions and answers latest update

Law of Large numbers correct answers Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest correct answers Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Risk correct answers Chance of loss; uncertainty of loss Speculative Risk correct answers Involves the simultaneous chance of gain or loss: is not insurable Pure Risk correct answers a risk...