Property and ca - Study guides, Class notes & Summaries

Ohio Property and Casualty Exam Questions & Answers 2023-24 What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...

What is the purpose of licensing? - correct answer Reinforces the purpose of insurance regulation - that the public is treated fairly and equitably by those who sell and distribute insurance. Licensing prerequisites - correct answer 24 credit hours of study in approved course (must have 3hrs ethics). Once your certificate is obtained you have 1yr to pass your exam followed by 1yr to have your license issued. *Passing does not guarantee you will get your license. What are the qualifications...

NJ PSI PROPERTY AND CASUALTY EXAM NEWEST 2024 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A

Property and Casualty PA Quiz Questions Latest 2024 Rated A+ All of the following are requirements to be licensed in PA except: -Complete a four-week long pre-licensing course -Pass the appropriate exam -Apply for a license with the insurance department and pay the appropriate fee -Have your fingerprints taken and submitted Complete a four-week long pre-licensing course All of the following statements are correct except: -An applicant has up to one year to be licensed after successfu...

Property and Casualty Insurance Licensing Exam (100 Questions)

2024 Louisiana Property and Casualty Insurance Exam New Latest Version with All Questions from Actual Exam and 100% Correct Answers

SOUTH CAROLINA PROPERTY AND CASUALTY INSURANCE EXAM NEWEST VERSION ACTUAL 170 QUESTION AND CORRECT DETAILED VERIFIED ANSWERS FROM VERIFIED SOURCES RATED A GRADE.

PENNSYLVANIA PROPERTY AND CASUALTY LICENSING EXAM 2024 EXAM COMPREHENSIVE QUESTIONS WITH DETAILED VERIFIED ANSWERS |GET IT 100% CORRECT| ALREADY GRADED A+

Property and Casualty License in ArkansasWhat is Insurance? - correct answer Transfers the risk of loss from individual to insurance co. What is Risk? - correct answer Chance of loss occurring What are 3 types of Hazards? - correct answer Physical, Moral, Morale What is a Peril? - correct answer Causes of loss insured against What does Indemnify mean? - correct answer Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - correct an...