Premium comp - Study guides, Class notes & Summaries

Xcel Solutions Property & Casualty Exam Questions and Answers An earned premium resulting from the cancellation of a policy is calculated on: - Correct Answer ️️ -On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: - Correct Answer ️️ -Excess Direct Coverage An insurance company writing business in a state othe...

what are the 4 most common injuries? - Answer 1. falls 2. caught in 3. struck by (head trauma) 4. electrical (T/F) OSHA is required to provide and pay for most PPE (personal protection) - Answer true what are the 5 groups of OSHA standards? - Answer 1. general industry 2. construction 3. maritime 4. agriculture 5. record keeping each employer shall furnish employment free from recognized hazards (general duty clause) section? - Answer section 5 (a)(1) each employer shall...

Wall Street Prep Premium COMPLETE REAL EXAM QUESTIONS AND CORRECT ANSWERS VERIFIED ANSWERS|AGRADE Wall Street Prep Premium COMPLETE REAL EXAM QUESTIONS AND CORRECT ANSWERS VERIFIED ANSWERS|AGRADE

In calculating the premium for a Workers Comp policy, an experience modification factor over 1.0 will result in what? A. A premium increase B. A premium reduction C. No change in the premium D. Any of the above - Answer A. A premium increase Which Homeowner's policy provides all risk or open peril coverage on the dwelling but broad form coverage on the personal property? A. HO-2 B. HO-3 C. HO-5 D. HO-8 - Answer B. HO-3 Which one of the following coverages is NOT included in ...

California Property and Casualty Exam Questions with 100% Verified Correct Answers Which of the following is incorrect? Part A covers long term care Part A covers hospital care Part B covers physicians Part B requires monthly premium payments - Correct Answer Part A covers long term care Medical payments coverage under the personal auto policy applies for medical bills insured up to how long after an accident? One year Five years Three years Two years - Correct Answer Thr...

NJ Accident and Health Producer Practice Exams Latest Update Graded A+ According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT: - if the insured is able to eventually return to work -if the death is suicide or due to a pre existing condition -when the policy is in the incontestability period -for claims involving periodic payments for claims involving periodic payments INSURERS MUST PAY LUMP SUM CLAIMS I...

An insurer must obtain the following from the commission's before transacting insurance business - Answer-certificate of authority The guaranty fund provides coverage for unpaid health insurance claims up to: - Answer-$300,000 The commissioner may: - Answer-fine a Producer $10,000 for violating a Cease and Desist order The commissioner must inspect the records of a domestic property or life insurance company Every: - Answer-3 years An insurer may pay commissions directly to the agen...

Property and Casualty Insurance Basics Latest 2024 Graded A+ INSURABLE INTEREST an economic interest in a property that must exist at the time of loss (you can insure the equity interest in your own home) UNDERWRITING classifies the applicant based upon the underwriting requirements of the insurer; matches the risk presented with the premium charged by the insurer LOSS RATIO percentage of claims paid in comparison to total premiums collected during a particular period of time R...

HPA 210 Quiz 1 Verified Study Solutions With Complete Tests Industrial Sickness Funds Voluntary fraternal, employer, or union funds that typically required a "premium" equaling 1% of wages When were Industrial Sickness Funds first seen? Civil War Workers Compensation Insurance Employers were liable for workplace injury, but the worker had to show that the employer was negligent Employers three defenses to Workers Comp -Worker had assumed the risk -Coworker caused the accident -Contribu...

Which of the following is incorrect? Part A covers long term care Part A covers hospital care Part B covers physicians Part B requires monthly premium payments - ANSWER Part A covers long term care Medical payments coverage under the personal auto policy applies for medical bills insured up to how long after an accident? One year Five years Three years Two years - ANSWER Three years Workers Comp. Part. I covers: All sums the insurer is required to pay by state law ...