Pure vs speculative - Study guides, Class notes & Summaries

CA PSI Site - Life, Accident and Health Agent Examination Questions and Answers Verified Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirem...

Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - ANSWER Pure risks are insurable but...

CA PSI Site — Life, Accident And Health Agent Examination (Life Agent)Questions With Complete Solution Admitted Insurance Company vs. Non-Admitted Insurance Company — ANSWER: An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CD!) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requireme...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by th...

Risk correct answers any uncertainty regarding financial loss thus entity (personal) or enterprise (business) wide in scope Business Interruption correct answers Any event, whether anticipated (i.e., public service strike) or unanticipated (i.e., blackout) which disrupts the normal course of business operations at an organization location example: can't sell sandwiches because the building needs to be fixed pure vs speculative static vs dynamic objective vs subjective divers...

CA PSI Site - Life, Accident and Health Agent Examination Questions and Answers Verified Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirem...

Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - CORRECT ANSWER-Pure risks are in...

Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...

Admitted Insurance Company vs. Non-Admitted Insurance Company - Answer An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - Answer Pure risks are insurable but...

Texas all lines adjusters license exam study questions & answers 2024/2025 Risk - ANSWERSUncertainty Types of risk - ANSWERSPure vs speculative Pure not insured Peril - ANSWERSCause of loss- open vs named Hazard - ANSWERSTypes- physical , moral , morale Indemnity - ANSWERSNo gain Subrogation - ANSWERSInsurance sues at fault party Fiduciary - ANSWERSResponsible for property of others Waiver - ANSWERSInsurance company voluntarily gives up a policy right Warranty - AN...