Insolvent definition - Study guides, Class notes & Summaries

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...

GEORGIA CLAIMS ADJUSTER LICENSING LATEST UPDATED EXAM 2024 FINEST VERIFIED QUESTIONS CORRECTLY ANSWERED 100% QUALIFIED PASS WITH RATIONALES ALREADY RANKED A+…. The acronym OSCAR is for: - ANSWER- Open peril aka Special/AllRisk/Comprehensive The acronym ACCL is for: - ANSWER- Parts of a contract; agreement (offer and acceptance), competent parties, consideration, legal purpose The acronym DICEED is for: - ANSWER- Parts of a contract; declarations, insuring agreements, conditions,...

Securities Industry Essentials Certification Exam (2024) || With Questions & 100% Accurate Answers Securities Industry Essentials Certification Exam (2024) || With Questions & 100% Accurate Answers All broker/dealers registered with the SEC must be SPIC members except: - ANSWER - - banks that deal exclusively in municipal securities - firms that deal exclusively in U.S. government securities - firms that deal exclusively in redeemable investment company securities What is the definition...

Insured - DEFINITION- The person covered by the insurance policy. Rider - DEFINITION- A written modification attached to a policy that increases or decreases coverage and/or premiums. What is a unilateral contract? - DEFINITION- A contract in which only one of the parties is legally bound to fulfill its obligations. What law protects consumers from the circulation of inaccurate or obsolete information? - DEFINITION- The Fair Credit Reporting Act. What are the three types of agent authorit...

Wisconsin Casualty Insurance Law Questions and Answers 100% Pass In the event an insurance company decides not to renew an auto insurance policy, how much notice is required to be given to the policyholder? 1. 60 days 2. 10 days 3. 20 days 4. 30 days 1. 60 days An automobile liability insurance policy that is purchased to satisfy the requirements of the Wisconsin Financial Responsibility Law must contain all of the following coverages, EXCEPT 1. Medical payments 2. Uni...

The acronym DICEED is for: -----CORRECT ANSWER-----------Parts of a contract; declarations, insuring agreements, conditions, endorsements, exclusions, definition The acronym U-HID is for: -----CORRECT ANSWER-----------uninsured motorist claim; Uninsured/Underinsured, Hit & Run, Insolvent (insurer), Denied Coverage The acronym COUP is for: -----CORRECT ANSWER-----------What is covered by collision; car, object, upset, pedestrian/pothole The acronym DDPB (Don't Drink Peanut Butter) is for: ...

The insurer's duty to defend the insured, as provided by Section II of a Homeowners policy, ends: A) When the insured admits they were negligent B) When the damages awarded against the insured exhaust the personal liability limit C) If the insured becomes bankrupt or insolvent D) If the claim is groundless correct answers When the damages awarded against the insured exhaust the personal liability limit Reasoning: Once the Coverage E limit is exhausted by the payment of damages for bodi...

LIFE, HEALTH & VARIABLE ANNUITY (2-15 EXAM) QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 (100% Solved) An owner is worried that employees will help themselves to products on the shelf without paying for them. This is an example of what type of hazard? - CORRECT ANSWERS Moral Hazard Won't fly an airplane, never drives a car and keeps money out of the stock market is known as what type of risk ? - CORRECT ANSWERS Risk Avoidance Only pure risk is insurable. TRUE or FALSE? - CORRECT ANSWERS T...

LIFE, HEALTH & VARIABLE ANNUITY (2-15 EXAM) QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 (100% Solved) An owner is worried that employees will help themselves to products on the shelf without paying for them. This is an example of what type of hazard? - CORRECT ANSWERS Moral Hazard Won't fly an airplane, never drives a car and keeps money out of the stock market is known as what type of risk ? - CORRECT ANSWERS Risk Avoidance Only pure risk is insurable. TRUE or FALSE? - CORRECT ANSWERS T...

TN Health State Exam Simulator Questions Already Graded A+ Fair Marketing Practices - Not a Fair Practice: Reducing the cost by lowering the commission when replacing an existing insurance policy. Policy Application Terms - Best Describes the Terms of a Policy: Policy summary. Payment Modes - NOT Used by Health Insurance Policies: Single Premium. Group Policy Issuance - Group Accident and Health Policy: A policy must be issued to the group (XYZ Corp), and a certificate must be issued...