An insur - Study guides, Class notes & Summaries

Misrepresentation of material fact, made knowingly with intent to be deceptive? - ANSWER ☑☑Fraud Insurable Interest must exist when for property/casualty and life insurance? - ANSWER ☑☑Property/Casualty: Time of loss or claim occurs Life Insurance: Only at time of application when policy is purchased In order for a group to be eligible for group life insurance what must the group not have done? - ANSWER ☑☑The group must not have formed for the purpose of purchasing life ins...

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

IDAHO BAIL BONDSMAN INSURANCE LICENSE EXAM QUESTIONS WITH 100% CORRECT ANSWERS

CPCU 500 (American Institutes Insurance CPCU 500) Questions & Ans.

Michigan Insurance Test with correct solutions. c. Primarily describes the free-look period - correct answers.All of the following are functions of an insuring clause EXCEPT a. States the conditions under which the policy will pay b. Outlines the kind of benefits provided c. Primarily describes the free-look period d. Provides the policy's scope and limits of coverage b. Employer - correct answers.The policyholder for a group health benefit plan is considered to be the a. E...

Michigan Insurance Laws Exam Questions and Answers

WebCE Test 1 Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. - answer-she must show her Ohio license is in good standing An annuity settlement option with a life contingency i...

A domestic insurance company: - is incorporated in the state within which it is located. It is considered foreign in all other states. A captive insurance company exists primarily to: - underwrite the risks of the parent owner. What agreement is for laying the legal framework of the insurance business? - Insurance agent partnership agreement True or False: An 'arrest' must be accompanied by physical restraint or handcuffs - False What process or procedure involves the determination of a ...

REAL Texas Adjuster Study Guide2023- 2024/ 367 QUESTIONS AND ANSWERS 1. perils: a cause of property losses under an insurance con- tract ex: windstorm, hurricane, explosion, collapse of build- ing, vandalism, accidental discharge, and theft

Idaho Bail Bondsman Insurance License Exam | 107 Questions and Answers | Updated | Graded A+