Utah insurance Study guides, Class notes & Summaries

A - UTAH: A person applying for an adjuster's license in Utah must (BSPEBS): Answer - * Be at least 18 years old * SSN * Personal History * Experience * Business Record * Submit a non-refundable fee B - UTAH: A non-resident agent (a new agent) moving into Utah must apply within __________ days to become a resident licensee. Answer - 90 C - UTAH: Qualifications: A licensee must - Answer - * At least 18 years old * Good faith * No controlled business * No grounds for denial, suspens...

AbandonmentAnswer - The abdication of insured property into the hands of another, or into the possession of no one in particular. Absolute LiabilityAnswer - A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme heights. AccidentAnswer - An unplanned, unforeseen event which occurs suddenly and at a specific place. Actual Cash Value (ACV)Answer - The required amount to pay damages or for property loss, which is calcu...

Utah Life Insurance Test Questions and Answers Already Passed Minimum Age to receive a license 18 Continuing Education Hours 24 Hours every 2 years (3 Hours must be in ethics) Insurer must respond to claimant communications within how many days? 15 days Commissioner Powers and duties include: Imposing penalties, including fines, suspensions, and revocations. All insurance forms (riders, policies, applications, endorsements, and contracts) must be filed and approved by the Commi...

Utah Property and Casualty Insurance Latest Version Graded A+ Absolute Liability Liability that arises from an extremely dangerous situation. Absolute liability is often found in cases involving explosives. Also known as "strict" liability. For ex you are absolutely liable if you keep a wild animal as a pet. Accident A sudden and unexpected event, occurring at a specific time and place. Actual Cash Value (ACV) The cost to replace an item of property at the time of loss, less an ...

Utah Life and Health Insurance new solution

each of the following is a function of accident insurance except to provide benefits for the loss of time away from the job as result of sickness loss of one leg below the knee which ofthefollowingaccidental injuries would be elgible for dismemberment beefits under an a and h polciy capital sum the amount paid an insured for accidental dismemberment under an a and h policy is technically call the principle sum the amount paid an insured for accidental death under a and h policy is ...

Utah Life, Health, and Accident Insurance Latest 2024 Graded A+ mode Refers to how often a premium is paid. coinsurance the insurer and the insured share expenses over the deductible. participating policies participating policies pay dividends non-participating policies non-participating policies do not pay dividends LTC Rider reimburses Health and Social Service expenses incurred in a convalscent or nursing home facility ownership rights vest ownership rights EG the right to...

What are the requirements to get a Utah Insurance License? correct answers At least 18 years old; pass the exam; pay fees; get finger printed and pass a background check; be competent and trustworthy. If an individual that lives in another state has a producer license in that state, what license does he or she need to sell insurance in Utah? correct answers Non-Resident Producer License What are the rules regarding 'binding of coverage' for Property and Casualty producers compared to Lif...

TELEPERFORMANCE PRE TEST QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION A commission for selling insurance may not be paid to a person other than a licensed insurance: A) Broker. B) Consultant. C) Advisor. D) Producer. Ans- D) Producer. Insured risk classification may be based upon which one of the following criteria? A) Creed or national origin. B) Race or color. C) Age or health. D) Religion. Ans- C) Age or health. A producer may not be compensated for controlled business u...

Absolute Liability Answer - Liability that arises from an extremely dangerous situation. Absolute liability is often found in cases involving explosives. Also known as "strict" liability. For ex you are absolutely liable if you keep a wild animal as a pet. Accident Answer - A sudden and unexpected event, occurring at a specific time and place. Actual Cash Value (ACV) Answer - The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to de...