Insurance policies - 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...

FLORIDA 2-15 INSURANCE LICENSE EXAM ACTUAL UPDATE WITH LATEST ONLINE WRITTEN EXAM QUESTIONS AND ANSWERS NEW UPDATE Accumulation units are converted into annuity units: A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required before benefits begin again. Robert had an accid...

Pearson Vue Life Insurance Practice Exam Questions and verified Answers P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: An insurance producer takes an application for a life insurance policy but does not collect the initial premium. On d...

Which of the following is NOT a characteristic of a Variable Annuity? A. Premium Payments may be level or flexible or single premium B. The cash values are invested in securities. C. The non-forfeiture values will provide for the return of the cash value should the annuitant die during the accumulation period. D. It provides for a tax-free death benefit. - Answer-D. It provides for a tax-free death benefit. All of the following policies provide for the tax deferred accumulation of cash val...

Missouri Life and Health Exam Questions and Answers 100% Pass In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights insuring clause under which circumstance MUST a health insurer have an expedited grievance review procedure? when the enrollee's life or health is jeapordized The Consideration clause in a life insurance contract contains what pertinent information? ...

California Property and Casualty Insurance Exam Questions and Answers 100% Pass What is the required rate discount under a Good Driver Discount policy? - Correct Answer ️️ -20% below the rate the insured would have been otherwise charged for the same coverage All the following are authorized activities for the Limited Automobile Insurance Agent EXCEPT if the agent - Correct Answer ️️ -Charges and collects a brokers fee for service What is the procedure for refusing uninsured moto...

South Carolina Insurance Exam Questions and Answers Already Passed An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? Family term insurance rider Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered Nonconcellable What is the required action to be taken by a...

Maryland life and health insurance exam questions and answers already passed Which of the following regulates the quality of care provided by a health maintenance organization (HMO)? Secretary of the department of health and mental hygiene. A marketing system, which utilizes mass media advertising and mail, instead of a producer, is called an blank, blank marketing system. Direct response An insurer is life insurance premium rate must be the same for all individuals In the same risk class wit...

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 ...