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ExamFx Bundled Exams with Complete Solution | Verified Answers | 2024
ExamFx Bundled Exams with Complete Solution | Verified Answers | 2024
[Show more]ExamFx Bundled Exams with Complete Solution | Verified Answers | 2024
[Show more]An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay 
$10,000 for a covered loss. What characteristic of an insurance contract does this describe? - 
Aleatory: an aleatory contract means unequal amounts are exchanged between payments and 
benefits 
W...
Preview 4 out of 34 pages
Add to cartAn insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay 
$10,000 for a covered loss. What characteristic of an insurance contract does this describe? - 
Aleatory: an aleatory contract means unequal amounts are exchanged between payments and 
benefits 
W...
The causes of loss insured against in an insurance policy are known as - Perils 
Before an insurer will pay any loss under a policy, what is usually required from the insured? - Proof 
of loss 
An insured works outside the home. The insured's sister lives with him and cares for his four children. 
...
Preview 2 out of 13 pages
Add to cartThe causes of loss insured against in an insurance policy are known as - Perils 
Before an insurer will pay any loss under a policy, what is usually required from the insured? - Proof 
of loss 
An insured works outside the home. The insured's sister lives with him and cares for his four children. 
...
which of the following would NOT be considered limited coverage policy? 
a. accident-only insurance 
b. travel policy 
c. major medical expense insurance 
d. special risk policy - c. major medical exoense insurance 
limited policies cover only expense incurred from specific diseases, or specific cau...
Preview 2 out of 15 pages
Add to cartwhich of the following would NOT be considered limited coverage policy? 
a. accident-only insurance 
b. travel policy 
c. major medical expense insurance 
d. special risk policy - c. major medical exoense insurance 
limited policies cover only expense incurred from specific diseases, or specific cau...
To be considered an insurable risk, a loss may NOT be - catastrophic 
Which of the following persons would be required to hold a producer license? - a nonresident agent 
who negotiates insurance contracts 
Which of the following is the oldest known type of insurance? - ocean marine 
The contents cov...
Preview 2 out of 8 pages
Add to cartTo be considered an insurable risk, a loss may NOT be - catastrophic 
Which of the following persons would be required to hold a producer license? - a nonresident agent 
who negotiates insurance contracts 
Which of the following is the oldest known type of insurance? - ocean marine 
The contents cov...
Which of the following policies does NOT contain an automatic reinstatement provision? 
a) Business automobile liability 
b) Personal automobile liability with split limits 
c) Homeowners 
d) General liability written with an aggregate limit - General Liability written with an aggregate limit 
The A...
Preview 2 out of 14 pages
Add to cartWhich of the following policies does NOT contain an automatic reinstatement provision? 
a) Business automobile liability 
b) Personal automobile liability with split limits 
c) Homeowners 
d) General liability written with an aggregate limit - General Liability written with an aggregate limit 
The A...
What is the maximum amount of SIPC coverage available to each separate customer? - $500,000 
including up to $250,000 in cash 
If a customer purchases securities and does not settle the account 4 business days, what should the 
brokerage firm do first? - Ask for an extension of time from the SRO or ...
Preview 4 out of 33 pages
Add to cartWhat is the maximum amount of SIPC coverage available to each separate customer? - $500,000 
including up to $250,000 in cash 
If a customer purchases securities and does not settle the account 4 business days, what should the 
brokerage firm do first? - Ask for an extension of time from the SRO or ...
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