Insurance final exam 2023 - Study guides, Class notes & Summaries

America's Health Insurance Plans (AHIP) Final Exam 2023 Questions & Answers

Chapter 1 - correct answerIntroduction to General Insurance The major function of insurance is to achieve a spread of risk. Explain what is meant by spread of risk. - correct answerthe major function of insurance is to share the losses of the few among the many What are the five functions of insurance? - correct answer1. spread of risk (major function) 2. basis of credit system 3. eliminates worry and encourages entrepreneurship 4. loss prevention and loss reduction 5. source of emplo...

Which of the following healthcare providers provide both the healthcare services and healthcare coverage? Ans Health Maintenance Organization (HMO) Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)? Ans Traveling overseas with a spouse Which word implies permissiveness according to the California Insurance Code? Ans may When found in California Insurance Code, the word "may" implies permissiveness. Under a long-term care insurance policy, adult day care cov...

ADJUSTER PRO EXAM WITH REVISED ANSWERS (2023) Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - CORRECT ANSWER-Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - CORRECT ANSWER-It automatically covers wind and vandalism. Which of the following refers to being restored to the ...

A viatical transaction is used for which of the following - correct answer A chronically ill insured who needs to sell his life insurance policy to a third-party to settle medical and other bills prior to death An agent complete an application for insurance on the Addams family Mr. Adams writes a check for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr. Adams should understand which of the following - correct answer He has made an offer to the insurance com...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

Insurance adjuster exam questions Test bank Final 2023. During a storm, heavy winds cause a tree limb to break and fall onto Paul's house, causing $6,500 in damage. Paul's insurance company now considers his house: - ANSWER A Loss Which of the following best describes a "risk," according to the insurance definition? - ANSWER A potential for financial loss A lion at a zoo escaped when a zoo employee failed to follow protocol. The lion injured a zoo patron. In court, the injured patron...

A viatical transaction is used for which of the following - correct answer A chronically ill insured who needs to sell his life insurance policy to a third-party to settle medical and other bills prior to death An agent complete an application for insurance on the Addams family Mr. Adams writes a check for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr. Adams should understand which of the following - correct answer He has made an offer to the insurance com...

P is a producer who is licensed in Indiana , but a resident of Michigan . In Indiana , P is considered to be a ( n ) __________ producer . - correct answer -nonresident . Why would the Insurance Commissioner issue a temporary license ? - correct answer -To allow the personal representative of a deceased producer to provide service to existing policyowners Which provision is NOT a requirement in a group life policy ? - correct answer -Accidental A ( n ) _________ beneficiary may be chang...

Incident Safety Officer (TCFP) Exam Questions And Answers 2023/2024 (Graded 100%). Which NFPA standard lists the ISO requirements, duties, and responsibilities? A) NFPA 1500 B) NFPA 1026 C) NFPA 1521 D) NFPA 1561 D) NFPA 1561 Whose role is it to focus on scene-specific operations? A) The incident commander B) The incident safety officer (ISO) C) Both the ISO and HSO D) The health and safety officer (HSO) B) The incident safety officer (ISO) Which NFPA standard currently sets the ISO ...