Exclusive agency system Study guides, Class notes & Summaries

Explain how insurers get their products to the consumer through the independent agency and brokerage system, exclusive agency system and direct writing system (6) : Independent agency & brokerage -Large insurance companies appoint independent brokers to be their sales force and to bring clients to them. -They pay a commission for each policy they issue on behalf of the broker's clients -Client list usually belongs to the broker , not the insurer Exclusive Agency System -Market their ...

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...

Maternal Child Nursing Care in Canada 2nd Edition by Perry Test Bank CHAPTER 1 Chapter 01: Contemporary Perinatal and Pediatric Nursing in Canada Perry: Maternal Child Care Nursing in Canada, 2nd Canadian Edition MULTIPLE CHOICE 1. Which is true regarding perinatal nurses? a. They provide care for only mothers and babies. b. They require advanced practice education beyond an entry to practice degree. c. They work with women and families from preconception throughout the child-...

Indirect Loss correct answersA secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System correct answersAn insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represe...

Vicky was posing as a customer of Establishment Realty. However, she was really there to see if Establishment Realty was following fair housing laws. Vicky was a _______. - ️️Tester What is NOT required between two parties as it relates to the violation of "mutual assent"? - ️️Written contacts According to article 2, which of the following statements are TRUE? - ️️REALTORS® must disclose all known material facts but are not obligated to discover latent defects in the proper...

Property & Casualty Virginia Latest Update Graded A+ stock insurance company owned by stockholders mutual insurance company owned by policyholders reciprocal insurance company group-owned insurer whose main activity is risk sharing lloyds of london not an insurance company, but consists of groups of underwriters who specializes in insuring a particular type of risk fraternal benefit societies social organizations that engage in charitable activities that provide life and heal...

WebCE Exam |37 Questions and Answers 100% CorrectWebCE Exam |37 Questions and Answers 100% CorrectWebCE Exam |37 Questions and Answers 100% CorrectWebCE Exam |37 Questions and Answers 100% CorrectIndirect Loss - ANSWER-A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - ANSWER-An insuran...

4 Elements of a Legal Contract - Competent Parties Legal Purpose Agreement Consideration Actuarial Department - Gather and interpret stats to determine probability of loss and sets premium rates. Adverse Selection - An imbalance created when risks that are more prone to losses than the average (standard) risk are the only risks seeking insurance within a specific market place. Example: Only those living in earthquake-prone areas seek to buy earthquake insurance. Aleatory Contract - The ...

a running stream is considered - ANSWER-real property water found on the land in watercourses, such as natural springs, streams, or rivers and in bodies of water, such as ponds or lakes is called - ANSWER-surface water What is riparian rights - ANSWER--riparian property owners have reasonable use of the follow water - the owner of property bordering a stream or river has riparian rights -the owner of adjacent land may not lawfully divert all available waterand thereby deprive a riparian ...

NFL Agent Exam 2023 With Complete Solution. NFL Player Contract - Correct Answer-A written agreement or series of such agreements executed at or about the same time between a person and an NFL Club pursuant to which such person is employed by such Club as a professional football player. Collective Bargaining Agreement (CBA) - Correct Answer-The union contract between the NFL Players Association and the NFL Management Council covering the terms and conditions of employment of all NFL playe...