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Alabama Insurance: Property and Casualty Test
Alabama Insurance: Property and Casualty Test
[Show more]Alabama Insurance: Property and Casualty Test
[Show more]Alabama Property & Casualty Online 
Practice Exams questions and answers
Preview 4 out of 64 pages
Add to cartAlabama Property & Casualty Online 
Practice Exams questions and answers
What type of risk is insuring your home or auto? - answer-Pure risk 
A good definition for risk is: - answer-The chance of loss 
The primary insured in an insurance contract is the: - answer-First 
named insured 
In property insurance, coinsurance is designed to: - answer-Cover all 
losses in full i...
Preview 1 out of 3 pages
Add to cartWhat type of risk is insuring your home or auto? - answer-Pure risk 
A good definition for risk is: - answer-The chance of loss 
The primary insured in an insurance contract is the: - answer-First 
named insured 
In property insurance, coinsurance is designed to: - answer-Cover all 
losses in full i...
What is a hazard? - answer-an increase in the possibility that a loss 
might occur 
transfer risk from a person or business to an insurance company that 
agrees to to pay for losses in exchange for a premium. - 
answer-insurance 
The type of insurance company in which the policyholder is 
considered...
Preview 3 out of 16 pages
Add to cartWhat is a hazard? - answer-an increase in the possibility that a loss 
might occur 
transfer risk from a person or business to an insurance company that 
agrees to to pay for losses in exchange for a premium. - 
answer-insurance 
The type of insurance company in which the policyholder is 
considered...
If a company cancels an auto policy mid-term, the refund will be made 
on a : 
A. pro rata basis 
B. short rate basis 
C. retroactive basis 
D. coinsurance basis - answer-A. Pro Rata Basis 
What is the term used to describe terminating the insurance 
relationship at the end of the policy period? 
A....
Preview 4 out of 58 pages
Add to cartIf a company cancels an auto policy mid-term, the refund will be made 
on a : 
A. pro rata basis 
B. short rate basis 
C. retroactive basis 
D. coinsurance basis - answer-A. Pro Rata Basis 
What is the term used to describe terminating the insurance 
relationship at the end of the policy period? 
A....
In Alabama, all health maintenance organizations must: - 
answer-Have a complaint system to resolve written complaints from 
enrollees. 
An insurance producer who offers a potential client something of value 
as an incentive to purchase insurance is engaging in: - 
answer-Rebating 
Medicare suppleme...
Preview 2 out of 6 pages
Add to cartIn Alabama, all health maintenance organizations must: - 
answer-Have a complaint system to resolve written complaints from 
enrollees. 
An insurance producer who offers a potential client something of value 
as an incentive to purchase insurance is engaging in: - 
answer-Rebating 
Medicare suppleme...
If a company cancels an auto policy mid term, the refund will be made 
on 
a. pro rata basis 
b. short rate basis 
c. retroactive basis 
d. coinsurance basis - answer-Pro Rata Basis 
What is the term used to describe terminating the insurance 
relationship at the end of the policy period ? 
a. cance...
Preview 3 out of 18 pages
Add to cartIf a company cancels an auto policy mid term, the refund will be made 
on 
a. pro rata basis 
b. short rate basis 
c. retroactive basis 
d. coinsurance basis - answer-Pro Rata Basis 
What is the term used to describe terminating the insurance 
relationship at the end of the policy period ? 
a. cance...
An incorporated insurance company which is run by a board of directors is known as - 
answer-a capital-stock company 
Which of the following statements is true regarding a binder? 
a. a binder guarantees that a policy will be issued by the insurance company. 
b. a binder guarantees coverage and that...
Preview 1 out of 4 pages
Add to cartAn incorporated insurance company which is run by a board of directors is known as - 
answer-a capital-stock company 
Which of the following statements is true regarding a binder? 
a. a binder guarantees that a policy will be issued by the insurance company. 
b. a binder guarantees coverage and that...
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