Direct writer agent - Study guides, Class notes & Summaries

Which one of the following describes a windstorm under an insurance policy? -️️A wind of any velocity having sufficient force to cause damage Which one of the following statements is true regarding the peril of collapse? - ️️Insurers agree to pay for collapse of the insured building caused by perils listed in the form. Paco Campos accidentally tosses a cigarette in a trash can in his old detached garage. The garage catches on fire, but Paco, knowing his insurance policy will provide...

TDI DISASTER EXAM | 120+ QUESTIONS AND ANSWERS | GRADED A+ | Question 1 If Lowest Cost Insurance Company chooses to accept his application for insurance, the insurer is the risk? • Retaining (Correct Answer) • Reducing • Avoiding • Transferring If Lowest Cost Insurance Company declines his application for insurance, the insurer is the risk? • Retaining • Reducing • Avoiding (Correct Answer) • Transferring Mr. Jones' heart attack is best described as his ? Risk Expos...

The one who receives the authority to act on behalf of someone else? - ANSWER-Agent what does a sale's agent receive authority for? - ANSWER-to sell An insurance agent receives authority to what? - ANSWER-Settle claims brought against the insurer How do agents receive their authority? - ANSWER-written contract What is the power to bind? - ANSWER-an agent's authority can bind: -what an agent says or does can bind insurer -agents should take the utmost care in what they say or d...

Indiana Adjuster Pre-Licensing Exam Questions and Answers Graded A+ What is an Agent? -Answer-One who receives authority to act on behalf of someone else Who are the two agents? -Answer-Sales Agent & Insurance Adjuster What is Power to Bind -Answer-What the agent says or does can bind the insurer What are the three responsibilities? -Answer-Adhere/follow the contract, Use good judgment and care at all times, Provide necessary info to the insurer. What are the three types of Authority? -A...

How is professional liability insurance typically provided to an engineer? - Answer- A standalone policy is required What is the caregiver benefit limit? - Answer- $250 per week and an additional $50 for each dependant Where would an agent/broker find the exact details of what constitutes a condominium unit? - Answer- The declaration of the specific condominium corporation The ability for an agent or broker to provide a full range of insurance protection to a client, is the description ...

Intermediaries : -insurance agents -brokers Independent Agency System : a system of marketing insurance through independent contractors (agents) who sell insurance on a commission or fee basis with one of more insurers Independent Brokerage System : a system in which independent insurance professionals, licensed as insurance brokers, are contracted to sell insurance on behalf of an insurer or multiple insurers Exclusive Agency Companies : a system of marketing insurance through agen...

State Farm Chapter 1 Exam Questions with Correct Answers Domicile - Answer-Refers to state or country where an insurer is formed or incorporated. Domestic Insurer - Answer-Organized under California Law. Foreign Insurer - Answer-Organized under a different state than California. Alien Insurer - Answer-Organized under laws of another country other than USA. Admitted (Authorized) Insurer - Answer-Authorized to transact insurance in California by the California Department of Insuranc...

Stock Insurer - correct answer Corporation owned by Stockholders (earn profit for stockholders by increasing the value of the stock and paying dividends). Mutual Insurer - correct answer Corporation owned by Policyholders (profits are distributed to policyholders by dividends or rate reductions). Advance Premium Mutual Assessment Mutual Fraternal Insurer Lloyd's of London - correct answer Specialized lines of business. Brokers - correct answer represent policyholders to arrang...

The one who receives the authority to act on behalf of someone else? - Answer Agent what does a sale's agent receive authority for? - Answer to sell An insurance agent receives authority to what? - Answer Settle claims brought against the insurer How do agents receive their authority? - Answer written contract What is the power to bind? - Answer an agent's authority can bind: -what an agent says or does can bind insurer -agents should take the utmost care in what they say or d...

The redemption value of an open-ended investment company's shares is based on the: - ANSWER-Net assest value computed afdter the order is recieved An associated person who is not a registered representative is permitted to engage in which of the following activities? - ANSWER-Provide account opening forms to a new customer A decline in the gross domestic product (GDP) must last for at least how many quarters to be considered a recession? - ANSWER-2 quarters When is interest on Treasury...