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XCEL Cram Courses Questions and Answers 100% Correct $13.49   Add to cart

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XCEL Cram Courses Questions and Answers 100% Correct

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  • Xcel solution
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Exam of 3 pages for the course Xcel solution at Xcel solution (XCEL Cram Courses)

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  • November 5, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Xcel solution
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XCEL Cram Courses

An insurer's claim settlement practices are regulated by the - answer State insurance
departments

The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - answer insurance sales calls

Which of the following is NOT a benefit of insurance? - answer Losses due to fraud are
eliminated

Ken is a producer who has obtained Consumer Information Reports under false
pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that may
be imposed on Ken? - answer$5,000

Karen is a producer who has obtained personal information about a client without
having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the
minimum penalty for this? - answer$10,000

A nonparticipating policy will - answer not pay dividends

A situation in which there is ONLY a chance of loss or no loss is a: - answerpure risk

Which of the following is NOT considered a definition of risk? - answerThe cause of a
loss

Which of the following describes the statement "The more times an event is repeated,
the more predictable the outcome becomes"? - answerLaw of large numbers

Which of the following is NOT an element of an insurable risk? - answerLoss must be
catastrophic

People with higher loss exposure have the tendency to purchase insurance more often
than those at average risk. This is called - answeradverse selection

Which of the following is considered to be a situation that has the potential for loss? -
answerLoss exposure

What is known as the immediate specific event causing loss and giving rise to risk? -
answerPeril

Which of the following is considered to be an event or condition that increases the
probability of an insured's loss? - answerHazard

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