C an insurable interest - Study guides, Class notes & Summaries

COL3704 Assignment 3 (WRITTEN) Semester 1 2023 () 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . SECTION A QUESTION 1 On 13 March 2023, Alvereen Leonard approached three different credit providers and applied for credit. First, she approached Easy Loans and applied for a R5 000 loan to pay her outstanding utility bills. Next, she approached a second-hand car dealer, Cars at Cost, and purchased a R10 000 car on credit. She then went to ...

Florida 2-15 Insurance Exam Review 100 Questions with Verified Answers. In the insurance business, risk can best be defined as: A. sharing the possibility of a loss B. uncertainty regarding the future C. uncertainty regarding financial loss D. uncertainty regarding when death will occur ️ C. The concept of insurance developed from the need to minimize the adverse effects of risk associated with the probability of financial loss. Which of the following risks is insurable? A. pure risk...

Exam FX Insurance- Wisconsin Life questions (Answered). 100% Accurate, Graded A An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How many days in advance must the insured be notified? a) 30 b) 60 c) 90 d) 100 - -b How is the Commissioner of Insurance placed in office? a)By NAIC nomination b)Through a bid process c)An election at the same time that other state officials are selected d)An appointment by the Governor - -d An ins...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest - d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so it violates the principle of insurable interest Which is generally true regarding insureds who have earned preferred status? a. they keep a higher percentage of any interest earned on their policies b. their prem...

INSURANCE EXAM QUESTIONS & ANSWERS 2024 which one of these is NOT a type of agent authority? A. Express B. implied C. principal D. apparent - Answer - principal which of these arrangements allows one to bypass insurable interest laws? A. concealment B. indemnity contract C. contract of adhesion D. investor-originated life insurance - Answer - Investor-originated life insurance A policy of adhesion can only be modified by whom? A. The agent B. The applicant C. The primar...

6-20 Claims Adjuster Exam Questions with 100% Verified Correct Answers 2024/2025 The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion - Correct Answer C. Loss Settlement Contract The Insurers responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against fur...

Florida Claims Adjuster Exam Latest Update With 200+, Correctly Answered Questions Already Graded A+ |Guaranteed Success| Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests ANS: - D. All listed interests Remember that the insurer is not responsible to know ...

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement ...

Primerica Practice Exam Test A 75 Questions & Answers 2023 1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured ...