Mn life health insurance - Study guides, Class notes & Summaries

Insurance - Transfer of risk to the Insurer Speculative Risk - Risk that can have either gains or losses Pure Risk - Risk that can only see losses Loss - Reduction in the value of something Exposure - Risks the Insurance company is exposed to Peril - Cause of loss Hazard - Anything that increases the likelihood of loss through peril Physical Hazard - Mechanical cause of harm (wet floor) Moral Hazard - Character cause of harm (dishonesty) Morale Hazard - Mindset cause of harm (carelessne...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal, ISBN-7. All Chapters 1-23. (Complete Download) Version 1 1 CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient app...

Insurance is a... - transfer of risk What type of risk is gambling? - Speculative Risk What type of risk is a car accident? - Pure Risk What type of risk is insurable? - Pure Risk uncertainty about whether a loss will occur - Risk Risk Management Method Acronym - STARR (sharing, transfer, avoidance, retention, reduction) Insurance company purchases insurance to cover their own exposure to loss - reinsurance Loss Equation - value before loss - value after loss = total amount of loss Reduc...

The commissioner examines each insurer every ___ Years. - 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order - $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner has ____ days to hold the hearing. - 30 Days, 30 days All accident and health insurance policies must be filed with the commissioner at least ____ days prior to use - 60 days During Pre-licensing... ____ hours per maj...

Insurance is a... - ️️transfer of risk What type of risk is gambling? - ️️Speculative Risk What type of risk is a car accident? - ️️Pure Risk What type of risk is insurable? - ️️Pure Risk uncertainty about whether a loss will occur - ️️Risk Risk Management Method Acronym - ️️STARR (sharing, transfer, avoidance, retention, reduction) Insurance company purchases insurance to cover their own exposure to loss - ️️reinsurance Loss Equation - ️️valu...

Primerica Life Insurance Vocabulary Exam Questions with All Correct Answers pretext interviews - ANSWER An interview when a person attempts to obtain information from another person...and they pretend to be someone else. NAIC - ANSWER National Association of Insurance Commissioners - an association of state commissioners that influences the industry's self-regulation controlled business - ANSWER Business written on the producer's own life or interests. market ...

The commissioner examines each insurer every ___ Years. 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner has ____ days to hold the hearing. 30 Days, 30 days All accident and health insurance policies must be filed with the commissioner at least ____ days prior to use 60 days During Pre-licensing... ...

MN Life and Health Insurance Exam with correct answers

LIFE AND HEALTH INSURANCE LICENSE EXAM – MN WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DEFINED ANSWERS ALREADY GRADED A+ GUARANTEED PASS

The commissioner examines each insurer every ___ Years. correct answer 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order correct answer $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner has ____ days to hold the hearing. correct answer 30 Days, 30 days All accident and health insurance policies must be filed with the commissioner at least ____ days prior to use correct...