The insuring agreement - Study guides, Class notes & Summaries
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NJ Property State Exam Questions and Answers
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Risk - ANSWER-the chance or uncertainty of loss 
 
Risk - ANSWER-used within the insurance industry to refer to the subject of the insurance policy 
 
Possibility of loss - ANSWER-the concept of risk involves ___________________ 
 
Insurance - ANSWER-a formal social device used to accomplish the transfer of risk from an insured to the insurer 
 
Insurance policy - ANSWER-a legal contract in which the premium paid represents a small certain cost exchanged so that the insurer will cover the possib...
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2022-2023 Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS
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2022/2023 
Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS 
 
 
 
1.	PERILS: A CAUSE OF PROPERTY LOSSES UNDER AN INSURANCE CON- TRACT EX: WINDSTORM, HURRICANE, EXPLOSION, COLLAPSE OF BUILD- ING, VANDALISM, ACCIDENTAL DISCHARGE, AND THEFT 
2.	LAW OF LARGE NUMBERS: A FUNDAMENTAL CONCEPT IN STATISTICS 
AND PROBABILITY THAT DESCRIBES HOW THE AVERAGE OF A RANDOM- 
LY SELECTED LARGE SAMPLE FROM A POPULATION. IT BASICALLY RE- LIES ON THE PRINCIPLE THAT THE LARGER THE POOL, THE MORE PRE- DICTAB...
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Texas Property & Casualty Insurance, Insurance Exam Questions And Answers
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Texas Property & Casualty Insurance, Insurance Exam Questions And Answers 
 
 
Which part of an insurance policy describes the responsibilities and obligations of both the insurance company and the insured under the policy? - ANS Conditions 
 
The limits of liability are found in which of the following sections of a casualty policy? - ANS Declarations 
 
The _____ page in an insurance contract contains information about the risk, the effective date of coverage, deductible, premium amounts...
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Michigan Surplus Lines Insurance Exam Prep questions and answers latest top score.
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Michigan Surplus Lines Insurance Exam Prep questions and answers latest top score. 
 
 
 
 
 
 
 
 
 
(1)Surplus Lines premiums typically expand during: 
A) A soft Market 
B) A Hard Market - correct answers.A Hard Market. 
 
Surplus lines premiums typically expand during a hard market. 
 
(2) During the time of a hard market, insurers will: 
A) Tighten their underwriting standards 
B) Loosen their underwriting standards - correct answers.A) Tighten their underwriting standards. 
 
Tighten and ra...
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Pearson VUE: Casualty Insurance test bank Exam rated A+ 2023
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Pearson VUE: Casualty Insurance test bank Exam rated A+ 2023An insured may cancel a Personal Auto Policy by taking which of the following actions? 
 
A. Paying the insurance company any past due premiums 
 
B. Waiting until the policy expiration date 
 
C. Giving written notice to the insurance company 
 
D. Informing the producer by telephone 
C 
 
 
 
In insurance, which of the following terms refers to continuous or repeated exposure to conditions that may result in bodily injury or damage ne...
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GEORGIA PROPERTY & CASUALTY INSURANCE EXAM Prep |QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A (2024/ 2025 UPDATE)
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GEORGIA PROPERTY & CASUALTY INSURANCE EXAM Prep |QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A (2024/ 2025 UPDATE) 
 
Q: For the reported losses of an insured group to become more likely to equal the statistical probability of loss for that particular class, the insured group must become 
 
 
Answer: 
Larger 
 
 
 
Q: Which method of loss valuation is contrary to the basic concept of indemnity? 
 
 
Answer: 
Replacement cost 
 
 
 
Q: What term includes damage where the insured peril was...
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Florida Public all lines adjuster questions and answers 100% correct
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Subordination Correct Answer: When the insured collets damages from his or her own insurance company and those damages were caused by negligent third-party, the insurance company steps into the shoes of the insured and is entitled to recover the damages actually paid to the insured from the negligent party 
 
liability insurance Correct Answer: Means that the payment by the insurance company will be made to a third-party injured or damaged by the insured. An insured can we never recover damage...
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Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions
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Florida 6-20 All Lines Adjuster Test| 276 questions| 
50 Pages| With Complete Solutions 
Florida 6-20 All Lines Adjuster Test| 276 questions| 
50 Pages| With Complete Solutions 
A public adjuster represents the interest of: 
A. The insurer 
B. The Insured 
C. The employer 
D. The interest of the general public - Correct Answer -B. The insured 
Which of the following is the type of report that indicates the initial results of 
a claim investigation? 
A. Field Report 
B. Interim Report 
C. Full Re...
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WebCe - Commercial Lines 101 Exam Questions and Answers
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What is the underwriter's goal? - Answer- To write a book of business in which the actual losses approximate the expected losses. 
 
Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - Answer- Independent agency 
 
When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally ...
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ADJUSTER PRO MS SECTION 4A - 4B WITH COMPLETE SOLUTIONS
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Define Insurance 
Insurance is a tool that protects people from overwhelming financial losses. 
 
 
Explain how Insurance works 
Under an insurance contract, the insured pays a scheduled fee called a premium. 
In return, the insurer promises to pay for specified losses if they occur. 
 
 
 
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What is insurance? 
Insurance transfers risk. A person or organization called the i...
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