Agentproducer - Study guides, Class notes & Summaries

Insurance Broker Exam 2024!!

Nebraska State Life and Health Insurance Exam Terms

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Arizona Life Insurance Exam - General Insurance Complete Questions And Answers Already Passed

NYS Property & Casualty Broker Exam with accurate Solution What is insurance? - Insurance transfers the risk of loss from an individual or business entity to an insurance company, which in turn spreads the cost of unexpected losses to many individuals. Agent/Producer - a person who acts for another person or entity known as the principal with regard to contractual arrangements with the third parties; a legal representative of an insurance company. Agent/Agency Contract - a contract that...

Basic Fundamentals of Insurance Exam Questions With 100% Correct Answers

Insurance - ANSWER Transfers the risk of loss from an individual or business entity to an insurance company, which spreads the costs of unexpected losses to many individuals Agent/Producer - ANSWER A legal representative of an insurance company Insurance Policy - ANSWER A contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events What is underwriting? - ANSWER The risk selection and class...

Arkansas Life Insurance Review Correct Questions & Answers

Adverse Selection - ANSWER insuring of risks that are more prone to losses than the average risk Agent/Producer - ANSWER a legal Representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer Applicant or proposed insured - ANSWER a person applying for insurance Beneficiary - ANSWER a person who receives the benefits of an insurance policy Death benefit - ANSWER the amount paid upon the death of the ins...

Agent/Producer - ANSWER A person who acts for another person or entity with regard to contractual arrangements with third parties; a legal representative of an insurance company. Applicant or Proposed Insured - ANSWER A person who requests or seeks insurance from an insurer. Beneficiary - ANSWER the person who receives the benefits from the policy of insurance Death Benefit - ANSWER The amount paid when a claim is issued against a policy of insurance Agent/Agency Contract - ANSWER a ...