Fred loya insurance - Study guides, Class notes & Summaries

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...

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 ...

risk - Uncertainty concerning the occurrence of a loss Exposure - what the insured is exposing to the insurer to premium calculations - the higher the risk is, the greater the premium Speculative Risk - a risk in which there is a chance of either loss or gain pure risk - is insurable. it is when you can only lose, not win. ARRTS - Avoid, Reduce, Retain, Transfer, share Deductible - An amount the insured must pay before benefits become payable by the insurance company.

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...

Fred Loya Insurance with complete solution

Fred Loya Insurance with complete solution

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...

Liability: - Answer-is the minimum the state of California requires you to have in order to drive a vehicle. In case you are involved in an accident that is your fault, the company pays: up to $15,000 in medical expenses for 1 person injured in the vehicle you hit, up to $30,000 if it's more than one person injured, and up to $10,000 for any property you may damage. Comprehensive & Collision: - Answer-covers your vehicle in case of fire, theft, vandalism, sand damage, and hail damage. It a...

Fred Loya Insurance Exam Questions With Verified Answers Liability: - answeris the minimum the state of California requires you to have in order to drive a vehicle. In case you are involved in an accident that is your fault, the company pays: up to $15,000 in medical expenses for 1 person injured in the vehicle you hit, up to $30,000 if it's more than one person injured, and up to $10,000 for any property you may damage. Comprehensive & Collision: - answercovers your vehicle in case of fi...