Surplus lines insurer - Study guides, Class notes & Summaries
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Washington State Property & Casualty Insurance Exam 100% correct answers
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Washington State Property & Casualty Insurance Exam 100% correct answers Authorized Insurer 
An insurer that has qualified and received a Certificate of Authority from the Department of Insurance to transact insurance in the state. 
 
 
 
Contact adhesion 
the accepter of the contract must "adhere" to the written contract 
 
 
 
inducement 
An action aimed at persuading 
 
 
 
insolvent 
Bankrupt; unable to pay debts. 
 
 
 
Transacting Insurance 
Conducting insurance business, such as solicit...
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Hawaii Adjuster Exam Completely Verified Answers
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Which of the following statements is NOT TRUE regarding the "Extended Period of Indemnity" option of the Business Income form? - ANSWER-The coverage applies for 120 days following the period of restoration 
 
When a Hawaii employee sustains an injury requiring medical treatment beyond first aid, how long does the employer have to report the accident to the Director of Labor and Industry relations? - ANSWER-7 working days 
 
After paying a claim an insurance company may have the right to pursue...
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A 
 
 
 
The process where by a mutul insurer becomes a stock company is called - Demutalization 
 
The process whereby a stock company a mutal insurer is called - Mutalization 
 
The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause 
 
The part of the policy that states the amout of coverage the insured property policy period is - Declara...
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Louisiana Insurance Exam Prep (Title), Louisiana Title Insurance EXAM (Guaranteed Pass!)
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CONTRACTS - Aleatory Contract correct answers A contract in which the performance of either party's obligation depends on an uncertain event 
 
INSURANCE - Benchmark Rate(s) correct answers The rate set annually by the Commissioner of Insurance by line, relative to which the flexibility bands and statutory rate limitations apply. 
 
INSURANCE - Churning correct answers Can occur when an agent persuades a consumer to borrow against an existing life insurance policy to pay the premium on a new on...
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South Carolina Property and Casualty Questions and Answers with Verified Solutions
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ISO Insurance Service Office 
To be licensed as a insurance producer in this state an individual must meet the following minimum 
qualifications: be at least 18 years old; Be of good moral character; have not been convicted 
of any felony or crime for the last 10 years that can be a ground for denial,suspension, or revocation 
of a license; Pass the required license examination; Pay the license fee of $25.00 
Agency license must contain the licensee's name, address, personal identification numb...
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PSI CA Property and Casualty Practice Exam 2023 Solved 100% Correct
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1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - ANSWER-The loan recipient may always select a particular agent or broker of their choosing 
 
2 A claimant can be any of the following EXCEPT - ANSWER-EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 
 
3 All of the following are to be specified in an insurance policy EXCEPT - ANSWER-EXCEPT the financial rating of the insured...
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Insurance Adjuster Exam Questions and Answers Rated A+
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Insurance Adjuster Exam Questions and Answers Rated A+ Which kind of losses are covered under a standard fire policy? Direct 
All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow 
At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's property 
A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the insur...
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WebCE Exam Questions with correct Answers
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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...
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Virginia Property and Casualty Insurance Exam Review (Latest 2024/ 2025 Update) Practice Questions and Verified Answers| 100% Correct| Grade A
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Virginia Property and Casualty Insurance 
Exam Review (Latest 2024/ 2025 Update) 
Practice Questions and Verified Answers| 
100% Correct| Grade A 
 
 
Q: What is high risk coverage purchased from an unauthorized company? 
 
 
Answer: 
Surplus Lines Insurers 
 
 
 
Q: How are insurance companies defined? 
 
 
Answer: 
Where they are located, chartered, or incorporated. 
 
 
 
Q: What protects policy holders from an insurer's insolvency? 
 
 
Answer: 
Property and Casualty Insurance Guara...
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AINS 101 Exam Prep Questions and Answers 100% Pass
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Loss exposure any condition or situation that presents a possibility of loss, whether or not an 
actual loss occurs 
Premium the price of the insurance coverage provided for a specified period 
Indemnify to restore a party who has sustained a loss to the same financial position that party 
held before the loss occurred 
Insured any person or organization who is insured under an insurance policy 
Property-casualty insurance one of the two main sectors of the insurance industry 
encompassing numer...
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