Actuarial department Study guides, Class notes & Summaries

Actuarial Department - Answer Calculates policy rates, reserves, and dividends Alien Insurer - Answer An insurer whose principal office and domiciled in a country other than the United States. Admitted Insurer - Answer An insurer to which a state insurance department has granted a license to do business within that state. Broker - Answer A Broker represents themselves and the insured. Captive Insurer - Answer An insurer owned by a parent firm for the purpose of insurin...

CPCU 520 Practice Test Questions and Answers Rated A+ Which one of the following functional areas of Keithly can assist Alex with this audit's irregularity? Special Investigation Unit Which one of the following best describes a FAIR plan and its insureds? State-run plans with cost spread among private insurers in the state Which one of the following departments provides information to the underwriting department to assist in selecting and rating risks? Risk control All corpo...

Representations and Warranties - Answer- Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - Answer- Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losse...

Texas Insurance Adjuster Certification Exam (2024) – All Questions & Solutions (Graded A+) Texas Insurance Adjuster Certification Exam (2024) – All Questions & Solutions (Graded A+) If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. - ANSWER - $30,000 Which of the following statements best describes an inland marine policy? - ANSWER - Pertains to Cargo with no fixe...

Colorado Accident & health laws state Exam simulator Questions and Answers Latest Updated 2024/2025 | Graded A+ . Which of the following is an example of defamation? A brochure including an untrue statement regarding a competitor's ability to pay claims A truthful estimate of the dividends A pamphlet listing a competitor's financial rating A verbal statement of a competitor's complaint ratio A brochure including an untrue statement regarding a competitor's ability to pay claims Which o...

2024 Texas Adjuster Exam Questions with Verified Answers If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. $30,000 Which of the following statements best describes an inland marine policy? Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deduct...

Midterm - 1265In the US, what is health insurance? - correct answer Reduction of a person's or a group's exposure to risk for unknown healthcare costs by the assumption of that risk by an entity Dr. Gilbert sees a 14-old-male with adolescent idiopathic thoracic scoliosis. Surgery for spinal fusion was canceled after the patient was diagnosed with mononucleosis. On today's visit, the patient is started on prednisone for severe sore throat and difficulty swallowing. The patient was accompani...

If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. - correct answer-$30,000 Which of the following statements best describes an inland marine policy? - correct answer-Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deductible. What will you pay? - cor...

Texas Adjuster Exam Questions & answers If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. - correct answer-$30,000 Which of the following statements best describes an inland marine policy? - correct answer-Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a ...

Which of the following statements best describes an inland marine policy? - ANSWER-Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deductible. What will you pay? - ANSWER-$1000 This department is responsible for making rates and determines the rates charged by the insurer - ANSWER-Actuarial department Johnny has 30/60/25 limits on his auto policy, and he negligently r...