Utmost good faith - Study guides, Class notes & Summaries

GA Insurance Adjuster Course Exam Questions and Answers 100% Pass Six Special Characteristic of Insurance Contracts - Correct Answer ️️ -Personal, Adhesion, Utmost Good Faith, Aleatory, Unilateral, Condition Coverage F - Correct Answer ️️ -Medical Payments Umbrella - Correct Answer ️️ -An umbrella policy provided liability coverage over and above the normal or base limits of liability in a policy. An umbrella policy is a type of excess policy Risk Transference - Correct Answe...

Florida Health 240 Insurance/ 233 Q&A/ . Terms like: Help to identify and establish the intent of the parties to the contract - Answer: Rules of Construction Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. - Answer: Utmost good faith

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking on...

Health insurance coverage under COBRA, HIPAA guarantees that the person will - Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct - The cash value remains level throughout the life of the policy Which activity in NOT an error or omission that makes an agent or producer legally to both the insurance and the insure - Placing insurance with an approved surplus line insurer All ...

Health insurance coverage under COBRA, HIPAA guarantees that the person will - Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct - The cash value remains level throughout the life of the policy Which activity in NOT an error or omission that makes an agent or producer legally to both the insurance and the insure - Placing insurance with an approved surplus line insurer A...

The two main sectors of the insurance industry are Property-casualty insurance and life-health insurance. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a Contract of utmost good faith. Earned premiums are shown on an insurer's income statement because they are Revenues Destructive competition in the insurance industry could result in Insurance Shortages 3 multiple choic...

Florida Health 240 Insurance/ 233 Q&A/ . Terms like: Rules of Construction - Answer: Help to identify and establish the intent of the parties to the contract Utmost good faith - Answer: Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract - Answer: A contract under which one party's performance is contingent on an uncertain ...

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement ...

Texas Insurance License Exam Prep P&C Questions with 100% Correct Answers What are 3 subjects an auto policy covers? 1. Body 2. The vehicle 3. Assets Bodily Injury Types Personal Injury Med Pay Uninsured Motorist No Fault Insurance State stipulates that parties cannot file a claim to the other persons insurance policy unless required in excess. Instead, each party is required to file a primary claim against their own insurance regardless who is at fault. EX. Florida Finan...

LAW OF CONTRACT NOTES: Contract as an agreement intended to create enforceable obligations A contract is an agreement between two or more parties. The extra ingredient that distinguishes contracts from non-binding agreements is a serious intention to create legally enforceable obligations (animus contrahendi). The absence of an animus contrahendi explains why ‘gentlemen’s agreements’ are not enforceable as contracts. Legally binding agreements that are not contracts: The ...