TEXAS INSURANCE EXAM PACKAGE DEAL!!

Property vs Casualty: What is considered property? - Structure & Personal Property Property vs Casualty: What is considered casualty? - Non-property losses. Legal liability to others. 3rd Party Risk - uncertainty of financial loss Pure Risk - Chance of Loss Speculative Risk - Chance of Loss or ...

An example of a direct cause would be? - Water Damage as a result of fire fighters putting out a fire. This can be found on a schedule part of an insurance agreement. - name of the insured , location of property , and premium and effective date of coverage An insurance agency that conducts busin...

Which of the following is considered a field underwriter? - An agent When must insurable interest exist in life insurance? - Application or issues date If no receipt is issued at the time application, a statement of good health is usually required at the time of - Policy Delivery The Medical Inf...

A CONSIDERED AN UNFAIR CLAIMS SETTLEMENT PRACTICE? - ATTEMPTING TO SETTLE A CLAIM FOR LESS THAN THE AMOUNT A REASONABLE PERSON WOULD BELIEVE IS DUE A PERSON APPOINTED BY AN INSURER TO SOLICIT OR SELL INSURANCE ON THEIR BEHALF IN THIS STATE IS KNOW AS AN - AGENT A TEXAS RESIDENT AGENT SEEKING TO ...

If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - Upon completion of the application Who elects the governing body of a mutual insurance company? - policyholders An insurance applicant MUST be informed of an investigation re...

Subrogration may follow which of the following events? - An insured collects from her insurance company for damages caused by a third party Medical payments coverage under a BOP applies to expenses incurred by non-insureds for bodily injury and reported to the insurer within: - One year after the...

What type of reinsurance contract involves two companies automatically sharing their risk exposure? - Treaty The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called - reserves When third-party ownership i...

Who is considered a field underwriter? - An agent When must insurable interest exist in life insurance? - Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - Policy delivery The Medical Information Bureau ...

An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the following insurance principles has the insurer violated? - Consideration Which of the following statements regarding HIV testing for insurance purposes is NOT true? - Insurers are barred from...

Insurance (General concept) - - transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - - must exist at the time of the application - insuring one's own life, famil...