Insurance coverage - Study guides, Class notes & Summaries

CIC Commercial Multiline Exam Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...

Arkansas P&C Exam. 103 Questions with 100% Correct Answers | Verified | Updated 2024. The major portion of the premium for an equipment breakdown policy pays -For repairs after a loss. -For coverage for bodily injury and property damage of others. -For replacement parts. -For inspections and examinations. For inspections and examinations. #3. The party to a surety or fidelity bond who promises to fulfill the obligation is the a) Principal. b) Custodian. c) Surety. d) Obligee. ...

California Optometry Law and Regulations Exam | New 2024/2025 Update | Questions and Verified Answers| 100% Correct| A Grade QUESTION T/F. To encourage prompt payment of health or medical claims, health care providers are expressly authorized to grant discounts in health or medical care claims when payment is made promptly. Answer: True QUESTION T/F. Healthcare providers cannot grant discounts for health or medical care provided to any pt the provider reasonably b...

Primerica Life Insurance Exam: 2023/ 2024 New Update (Questions and 100% Verified Answers) 1. A married couple owns a permanent policy which covers both of their lives and pays the benefit only upon the death of the first insured. Which policy is that? A. Survivorship Life Policy B. Second-to-Die C. Family income policy D. Joint life policy Answer: D. Joint life policy 2. An annuity owner is funding an annuity that will supplement her retirement. Because she does not...

CPCU 551 Exam Questions Compilation A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - 85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted theft... otherwise you...

Health contracts are prepared by insurers and must be accepted by the insured on an 'as is' basis. This described what aspect of a health insurance contract? - ANSWER Contract of Adhesion If an insurer decides to obtain medical information from different sources in order to determine the insurability of an applicant, who must be notified of the investigation? - ANSWER The applicant. What are the two types of expenses that are covered by health insurance? - ANSWER Expenses related to heal...

term insurance Answer - temporary protection because it only provides coverage for a specific period of time face amount Answer - death benefit 3 basic types of term coverage Answer - level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? Answer - regardless of type of term insurance purchased, premium is level throughout the term of policy level term insurance Answer - death benefit does not change throug...

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 (Ans- A brochure including an untrue statement regarding a competitor's ability to pay claims Which of the following is an example of rebating? offer of temporary insurance coverage cancellation of ...

Xcel 2-15 Florida Life & Health State Exam Simulator Already Passed what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 MULTIPLE CHOICE OPTIONS which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 MULTIPLE CHOICE OPTIONS an insureds inability to perform two or more activities of daily living may trigger which type of life...

AHIP Final Exam Test Questions and Answers (2023/2024) GRADED A+ Answers Correct/Verified Mr., Moy’s, wife ,has ,a ,Medicare ,Advantage ,plan, ,but ,he ,wants ,to ,understand ,what coverage ,Medicare ,Supplemental ,Insurance ,provides ,since ,his ,health ,care ,needs ,are,different ,from ,his ,wife's ,needs. ,What ,could ,you ,tell ,Mr. ,Moy?correct ,answersMedicare,Supplemental ,Insurance ,would ,help ,cover ,his ,Part ,A ,and ,Part ,B ,deductibles ,or coinsurance ,in ,Original ,F...