Fred loya - Study guides, Class notes & Summaries

Fred Loya Insurance Exam Questions With Verified Answers Pure Risk - answerNo possible gain risk - answerThe certainty of a future outcome Speculative Risk - answerInvolves gain or loss Peril - answerThe cause of a loss Ex; accident, fire wind ,hail,collison Hazard - answerincrease possibility of a loss Loss - answerchance of loss because of an exposure premium - answermoney collected from insured exposure - answerpossibility of a loss retention - answeragreement to be able to retain ...

Fred Loya Insurance Exam Questions With Verified Answers Pure Risk - answerNo possible gain risk - answerThe certainty of a future outcome Speculative Risk - answerInvolves gain or loss Peril - answerThe cause of a loss Ex; accident, fire wind ,hail,collison Hazard - answerincrease possibility of a loss Loss - answerchance of loss because of an exposure premium - answermoney collected from insured exposure - answerpossibility of a loss retention - answeragreement to be able to retain ...

Fred Loya Insurance Exam Questions And Answers (Verified And Updated) risk - answerUncertainty concerning the occurrence of a loss Exposure - answerwhat the insured is exposing to the insurer to premium calculations - answerthe higher the risk is, the greater the premium Speculative Risk - answera risk in which there is a chance of either loss or gain pure risk - answeris insurable. it is when you can only lose, not win. ARRTS - answerAvoid, Reduce, Retain, Transfer, share Deductible - a...

Automobile Insurance - Answer-A contract between two parties... the policyholder and the company. Agent - Answer-Licensed individual or organization authorized to sell/service insurance policies. License - Answer-Certificate of authority to transact insurance buisness. Insured - Answer-The policy-holder entitled to covered benefits in case of an accident or loss. Insurer - Answer-The insurance company who issues the insurance and agrees to pay for losses and provide covered benefits. Quota...

Fred Loya Insurance Questions With Verified Answers Personal injury protection (PIP) - answerCovers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - answerCovers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt...

Fred Loya Exam Questions And Answers (Verified And Updated) 1. Company benefits - answerWe are the actual company not an agency 2. Company benefits - answerWe have an in-house claims department 3. Company benefits - answerWe are open from 9am to 7pm Monday to Friday and Saturday from 9am to 2 pm 4. Company benefits - answerWe have fast and friendly service as well as bilingual agents to better serve you 5. Company benefits - answerPayments and changes are accepted at any of our locations...

Fred Loya Insurance Questions With Verified Answers Personal injury protection (PIP) - answerCovers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - answerCovers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt...

f an agent, while selling a policy tells the prospect he is fully covered and everything will be taken care of, when this is not the fact, the agent is guilty of - Misrepresentation What would NOT be an unfair claim practice? - Using an arbitrator to resolve a dispute. A homeowner discovers that a valuable painting was stolen from her home, what type of loss would this be considered? - Direct loss An example of a peril would be - A fire that damages the kitchen of a home. What part of the ...

Fred Loya Insurance Exam Questions And Answers (Verified And Updated) Automobile Insurance - answerA contract between two parties... the policyholder and the company. Agent - answerLicensed individual or organization authorized to sell/service insurance policies. License - answerCertificate of authority to transact insurance buisness. Insured - answerThe policy-holder entitled to covered benefits in case of an accident or loss. Insurer - answerThe insurance company who issues the insuran...

Personal injury protection (PIP) - Answer-Covers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - Answer-Covers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt in your vehicle we pay up to $30,000 in medical bill...