Usaa licensing final exam - Study guides, Class notes & Summaries
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USAA Licensing Final Exam Latest Update
- Exam (elaborations) • 31 pages • 2023
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USAA Licensing Final Exam Latest Update...
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USAA Licensing Exam 2023 Passed 100%
- Exam (elaborations) • 37 pages • 2023
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USAA Licensing Exam 2023 Passed 100% 
 
Insurance *** Transfer of risk from one person or organization to an insurance company 
 
Indemnity *** The principle to restore the insured to the pre-loss economic or financial condition. 
 
Law of Large numbers *** Mathematical principle used by insurers to predict losses to charge the appropriate premiums 
 
Insurable Interest *** Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty...
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