Florida insurance 2 15 - Study guides, Class notes & Summaries

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When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as - Answer- Estate conservation In group insurance, the primary purpose of the Coordination of Benefits provision is to - Answer- Prevent overinsurance Which of the following statements is NOT true regarding health insurance policy provisions? - Answer- All additional provisions written by insurers are cataloged by their respective states. The policyowner has an option to pledge the lif...

Florida 2-15 Insurance License Questions And Answers With Verified Study Solutions Risk that involves chance of both loss and gain; not insurable Speculative Risk Risk that involves the chance of loss only, there is no opportunity for gain; insurable Pure Risk Basic principle of insurance that the larger the number of individual risks combined into a group, the more certainty there is in predicting the amount of loss that will be incurred in any given period. Law of Large Numbers

Florida 2-15 Insurance Questions And Answers | 100% Correct Answers | 2024 Updated Quiz 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? ...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

Florida LP Master Qualifier Exam | 100% Correct Answers | Verified | Latest 2024 Version When must a dispensing unit have a License to operate in the state of Florida? - When selling to the public What are the insurance requirements for dispensing units in Florida? - 1 Mil Cat 2 Ins Have a qualifier What kind of accident must be reported - Cause of death or medical care Property damage more than 1000 When must accidents be reported - Cause of death or professional medical car...

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