Underwriter - Study guides, Class notes & Summaries

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock (Ans- A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds are...

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...

ALU 301: Chapter 6: An Underwriter's Guide to Cardiac Diagnostic Testing with Complete SolutionsALU 301: Chapter 6: An Underwriter's Guide to Cardiac Diagnostic Testing with Complete SolutionsALU 301: Chapter 6: An Underwriter's Guide to Cardiac Diagnostic Testing with Complete SolutionsALU 301: Chapter 6: An Underwriter's Guide to Cardiac Diagnostic Testing with Complete SolutionsALU 301: Chapter 6: An Underwriter's Guide to Cardiac Diagnostic Testing with Complete Solutions

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. De...

Life Insurance Exam-IllinoisPooling of Risks - correct answer A large group of people contribute money to a fund out of which their losses can be paid Policyowner - correct answer is the person or org that applies for the policy and pays the premium Actuarial Tables - correct answer Are statistical tables that are used when calculating premium rates and mortality loss reserves Life Insurance Policies transfer: - correct answer financial risks of premature death on a defined amount Lo...

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...

Nevada Life and Health License Exam Prep Questions with 100% Correct Answers What are the four required elements of an insurance contract? - Answer- Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - Answer- General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insurance? - Answ...

AINS 101 Questions With 100% Accurate Review Solution Answers Which of the following is an example of a legal requirement for individuals that could be met through insurance? a. contributing to the growth of the organization b. paying for losses c. obtaining personal auto insurance d. providing a source of investment funds - ANS-c. obtaining personal auto insurance A fire destroys the kitchen in Rob and Laurie's home. Which insurance policy would provide coverage for the damage? a...

Pearson vue Texas life and health insurance test questions &Answers 2024 ( A+ GRADED 100% VERIFIED)

Heart "Clicks" - ANSWER-Most often associated with Mitral Valve Prolapse test. Bayes' Theorem - ANSWER-"Conditional probability" - a ration method to minimize the diagnostic uncertainty (i.e. false positives and false negatives) surrounding cardiac testing. The results of one cardiac test can be used to improve the accuracy of the tests that follow. Benefits of Bayes' Theorem - ANSWER-It provides a much more rational approach allowing the risk assessment to start with some simple pa...