Usaa unit 3 exam - Study guides, Class notes & Summaries

USAA Exam Questions with Correct Answers (1) 3 basic steps of claims investigation - Answer-verifying insurance coverage obtain additional information about the claim verify and compare this information what are the 3 types of claim reports - Answer-initial for first field -( 24hrs to 7 days( interim or status report - (15-30 days informed) full formal report what are the 2 methods to making estimates for claims - Answer-Time and Material method Unit cost method In Texas, the signed...

USAA EXAM QUESTIONS CORRECTLY ANSWERED 3 basic steps of claims investigation - ANSWER verifying insurance coverage obtain additional information about the claim verify and compare this information what are the 3 types of claim reports - ANSWER initial for first field -( 24hrs to 7 days( interim or status report - (15-30 days informed) full formal report what are the 2 methods to making estimates for claims - ANSWER Time and Material method Unit cost method In Texas, the signed and s...

USAA Exam Questions with Correct Answers 3 basic steps of claims investigation - Answer-verifying insurance coverage obtain additional information about the claim verify and compare this information what are the 3 types of claim reports - Answer-initial for first field -( 24hrs to 7 days( interim or status report - (15-30 days informed) full formal report what are the 2 methods to making estimates for claims - Answer-Time and Material method Unit cost method In Texas, the signed and...

USAA Licensing Exam 2023 Passed 100% Insurance *** Transfer of risk from one person or organization to an insurance company Indemnity *** The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers *** Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest *** Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty...

USAA API EXAM Q&A Correctly Solved Rated A+ Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. -ANS- This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o a license, he was arrested and fined $50. The case went all the way to Supreme Court and was finally decided in 1869, that insurance wasn't intersta...