Sc insurance - Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Sc insurance? On this page you'll find 641 study documents about Sc insurance.
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SC Insurance Brokers Exam questions with 100% correct answers
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SC Insurance Brokers Exam questions with 100% correct answers
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South Carolina Life Insurance Producer Exam Questions and Answers 2023
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South Carolina Life Insurance Producer Exam Questions and Answers 2023 
 
Producer - ANSWER Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. 
 
resident producer - ANSWER An agent who holds an insurance license in the state in which they live 
 
non-resident producer - ANSWER Agents who hold an insurance license in a different state than the one they live 
 
Broker - ANSWER agents that work on behalf of life insu...
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SC Insurance Brokers Exam Questions & Answers 100% accurate
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SC Insurance Brokers Exam Questions & Answers 100% accurate 
 
Resident Licensing Requirements - ANSWERS1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
Nonresident Licensing Requirements - ANSWERS1. File application on form prescribed by the director. 
2. File affidavit stating insurance on a risk in this state will on...
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SC Insurance Licensing Top Common Tested Exam Questions And Correct Answers
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RiskIs the possibility that a loss will occur. 
InsuranceIs a contract that transfers the risk of financial loss from a individual or 
business to an insurance company 
Speculative riskA possibility of loss and gain. Insurance does not cover this. 
Pure riska risk that presents the chance of loss but no opportunity for gain 
Exposurethe potential for accidents and other losses 
UnderwritersInsurance companies use to determine premium rates and decide whether 
or not they will offer insurance
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SC P&C Insurance Exam Study Guide Exam And Actual Answers.
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Abandonment - Answer the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
Absolute Liability - Answer Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. 
 
Accident - Answer an unplanned, unforseen event which occurs suddenly and at a specific place 
 
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SC Insurance Brokers Exam Questions And Latest Updated Answers 2024.
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Resident Licensing Requirements - Answer 1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
Nonresident Licensing Requirements - Answer 1. File application on form prescribed by the director. 
2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to...
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SC Insurance Brokers Exam UPDATED Exam Questions and CORRECT Answers
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SC Insurance Brokers Exam UPDATED 
Exam Questions and CORRECT Answers 
Resident Licensing Requirements - Correct ANSWER- 1. Be licensed as a resident property and 
casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
Nonresident Licensing Requirements - Correct ANSWER- 1. File application on form 
prescribed by the director. 
2. File affidavit stating insurance on...
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SC P&C Insurance Exam Study Guide Questions With Solutions 100% Correct
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SC P&C Insurance Exam Study Guide 
Questions With Solutions 100% Correct 
Adhesion A contract offered on a "take-it-or-leave-it" basis by an insurer, in which the 
insured's only option is to accept or reject the contract. Any ambiguities in the contract will be 
settled in favor of the insured. 
Admitted Insurer An insurer to which a state insurance department has granted a license 
to do business within that state. 
Adverse Selection In general, the tendency for people with the gre...
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SC Insurance Brokers Exam questions and 100% correct answers 2024
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Resident Licensing Requirements - correct answer 1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
Nonresident Licensing Requirements - correct answer 1. File application on form prescribed by the director. 
2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers l...
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SC P&C Insurance Exam Study Guide With Guaranteed Accurate Answers
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Abandonment - correct answer the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
Absolute Liability - correct answer Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. 
 
Accident - correct answer an unplanned, unforseen event which occurs suddenly and at a specific place 
 
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