Reciprocal exchange a - Study guides, Class notes & Summaries

AZ Life and Health Insurance Study Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct Q: Methods of Handling Risk: Avoidance, Retention, Sharing, Reduction, Transfer Q: Risk Retention Answer: the planned assumption of risk by an insured through the use of deductibles, co-payments, or self-insurance. It is also known as self-insurance when the insured accepts the responsibility for the loss before the insurance company pays. The purpose of retention is ...

Health Insurance (Exam FX) Latest Update Graded A+ Agent/Producer A legal representative of an insurance company Broker An insurance producer not appointed by an insurer and whom represents the client Insured A person covered by an insurance policy Insurance policy A legal contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured/beneficiary for losses caused by specific events Principal Insurer, company who issues insurance polic...

NC Adjuster License Practice Exam Combined Set Questions With Reviewed Correct Answers What type of insurance operation is used to insure unusual risks? ANSWER Lloyds of London An insurance company that has its headquarters in New York state doing business in North Carolina would be considered which of the following under North Carolina insurance regulations? ANSWER Foreign Insurer A __________ is a contract type in which the insurer agrees to pay a specific sum of m...

_____ mutations are important to the evolutionary process; most cancers result from _____ mutations. A) Somatic; germ-line B) Germ-line; somatic C) Germ-line; heritable D) Somatic; heritable E) Point; germ-line - Answer B) Germ-line; somatic Segregation of alleles corresponds to the separation of: A) genes. B) genotypes. C) chromosomes D) phenotypes. - Answer C) chromosomes When nonhomologous chromosomes exchange parts, a(n) _____ has occurred. A) reciprocal translocation ...

Unauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. True or False? Willfully over insuring a health or property policy can be grounds for terminating an insurance license. - True. Willfully over insuring a health or property policy can be grounds for terminating an insurance license. The following are required to be on an application of i...

Mass State Life Insurance Exam Questions and Answers Already Passed Which of the following describes a participating life insurance policy? A participating life policy is one in which the policyowner receives dividends deriving from the company's divisible surplus What type of reinsurance contract between two insurers involves an automatic sharing of the risks assumed? Under treaty reinsurance, each party automatically accepts specific percentages of the insurer's business. At wh...

AINS 101 (New 2023/ 2024 Update) Increasing Your Insurance IQ Exam Review_ Questions and Verified Answers_ 100% Correct_ Grade A QUESTION What is insurer solvency? Answer: The ability to meet the obligations when it comes to making payments on claims for insurance policies. QUESTION What is a stock insurer? Answer: a corporation owned by stockholders with the objec- tive of making a profit for them QUESTION What is a mutual insurance company? Answer: ...

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...

loss exposure - any condition or situation that presents the possibility of a loss law of large numbers - a mathematical principle stating that as the number of similar but independent exposure units increases, the relative accuracy of predictions about future outcomes (losses) based on these exposure units also increases exposure unit - a measure of the loss exposure assumed by the insurer, used in pricing insurance property loss exposure - any condition or situation that presents the pos...

Methylases - Answer adds methyl group to restriction sites on cell's own DNA (blocks cleavage) Silent mutation - Answer No change in amino acid sequence Nonsense mutation - Answer Introduction of stop codon Missense mutation - Answer Amino acid change at position Dispersive replication - Answer fragments of original DNA molecules are used as templates Reciprocal translocation - Answer exchange of one part of a chromosome for another (problems in meiosis) Re...