An insured who suffered a - Study guides, Class notes & Summaries

State Farm Fire Independent Policy Exam Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payme...

Claims Adjuster Exam 2024 Questions And Correct Solution Update |guaranteed success| A claim in the property/casualty industry is defined as: - ANS - An assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation fro injuries or damages. What are you really buying when you purchase insurance: - ANS - Peace of mind. Why is insurance such a unique product: - ANS - Its a financial produc...

Accident and Health Insurance Exam Questions and Answers 100% Pass H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value C: relation of earning to insurance The insured should be aware of the issue date upon delive...

Property and casualty insurance Exam Questions and Answers Updated Nov 2022. A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of A builder's risk form is most often written as which of the following? A building is insured, but no one has lived or worked in it for 10 years. The building is completely empty of any furniture or perso...

Arizona Health Insurance Exam Questions and Answers 100% Pass Insurance a contract in which one party (the insurance company) agrees to "make whole" the insured party against loss, damage or liability arising from an unlikely event In ___________ insurance, the policy protects survivors from losses suffered after the insured's death Life Insurance __________ the risk of loss from an individual or business to an insurance company Transfers Risk the uncertainty or chance of a loss occurring ...

Practice Exam for Wisconsin Accident and Health Insurance Actual Questions and Answers 2024 H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - CORRECT ANSWER-C: relation of earning to insurance The...

The insurer and insured agree to a specific value of insured item -Correct Answer Agreed Value Policies Someone who has care, custody or control of another's property -Correct Answer Bailee Claim filed by policy holder against his _ -Correct Answer First Party Claim When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI -Correct Answer Negligent Entrustme...

ARKANSAS HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS In order for a contract to be valid, it must: - ANS Contain an offer & acceptance When does a nondisabled person first qualify for a Medicare Supplement Policy? - ANS Age 65 A life insurance company has transferred some of its risk to another insurer. The insurer assuming the risk is called the: - ANS Reinsurer A common exclusion with vision plans is: - ANS Lasik Surgery What are applicants' statements concerning occ...

Insurance a contract in which one party (the insurance company) agrees to "make whole" the insured party against loss, damage or liability arising from an unlikely event In ___________ insurance, the policy protects survivors from losses suffered after the insured's death Life Insurance __________ the risk of loss from an individual or business to an insurance company Transfers Risk the uncertainty or chance of a loss occurring Pure Risk situations that can only result in a loss or no ...