Short rate cancellation - Study guides, Class notes & Summaries

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis - Answer Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion - Answer Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. lo...

If a company cancels an auto policy mid-term, the refund will be made on a A. pro rata basis B. short rate basis C. retroactive basis D. coinsurance basis correct answers A. pro rata basis What is the term used to describe terminating the insurance relationship at the end of the policy period? A. Cancellation B. Nonrenewal C. Seperation D. Exclusion correct answers B. Nonrenewal Which is the best example of an indirect loss? A. Sequential loss B. Liability loss C. Employe...

If a company cancels an auto policy mid-term, the refund will be made on a : A. pro rata basis B. short rate basis C. retroactive basis D. coinsurance basis correct answers A. Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period? A. Cancellation B. Nonrenewal C. Separation D. Exclusion correct answers B. Nonrenewal Which is the best example of an indirect loss? A. Sequential loss B. Liability loss C. Employ...

a company in chartered in Guam or Puerto Rico doing regular business in new York would be considered by new yorkers to be a 1. domestic company 2. foreign company 3. alien company 4. international company CORRECT ANSWER 2. foreign company If a company cancels an auto policy mid-term, the refund will be made on a 1. Pro rata basis 2. short rate basis 3. retroactive basis 4. coinsurance basis CORRECT ANSWER 1. pro rata basis What is the term used to describe terminating the i...

Risk _________ is when one takes action to prevent or reduce potential loss. - ANSWER Reduction When the number of similar units increases, the predictability of the loss improves according to the rule of _____ ________. - ANSWER Large Numbers The insuring of risks that are more prone to losses than average risks is known as? - ANSWER Adverse Selection A ___________ contract is an arrangement where one insurer transfers or shares risks with another insurer. - ANSWER Reinsurance _____...

If a company cancels an auto policy mid-term, the refund will be made on a : A. pro rata basis B. short rate basis C. retroactive basis D. coinsurance basis - ️️A. Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period? A. Cancellation B. Nonrenewal C. Separation D. Exclusion - ️️B. Nonrenewal Which is the best example of an indirect loss? A. Sequential loss B. Liability loss C. Employee theft D. Los...

Alabama Property and Casualty Exam Questions and Answers Graded A+ If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential lo...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis - correct answer Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion - correct answer Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee th...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis - ️️Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion - ️️Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of us...

California Real Estate Exam Prep Questions with correct answers According to the Sherman Anti-Trust Act, if a real estate agency instructed all of the salespersons and associate brokers that they were to set their commissions at 3%, and they all agree to do so, this would be - answer-Not a violation of the Sherman Anti-Trust Act In order to have a valid agency relationship, the commission agreement must be - answer-In writing If you are referring to "the principle" in real estate,...