Ca insurance exam - Study guides, Class notes & Summaries

TEXAS PROPERTY AND CASUALTY INSURANCE EXAM 2024 WITH 500 REAL EXAM PRACTICE QUESTIONS AND CORRECT ANSWERS/ ACTUAL TEXAS PROPERTY & CASUALTY INSURANCE EXAM ANSWERED (BRAND NEW!!)

Insurance A contract in which one party agrees to indemnify the insured party against loss, damage or liability from an unknown event. Insurance transfers The reduction, decrease, or disappearance of value of the person or property insured in a policy, caused by a named peril. Risk The uncertainty or chance of a loss occurring. Pure risk Situations that can only result in a loss or no change Speculative risk The opportunity for either loss loss or gain. Hazards Conditions or situations th...

CA- PSI- Life, Accident & Health Exam With 100% Correct Answers 2023 Reduced Paid Up Nonforfeiture option provides new whole life policy at reduced face amount of protection. Provides coverage for longest time. Extended Term Nonforfeiture option provides new TERM policy with same face amount of coverage as original policy Guaranteed Lifetime Withdrawal Annuity rider that assures owner will at least get amount paid for the annuity Guaranteed Minimum Income Rider that gua...

Acceptance - When an insurer's underwriter approves the application and issues a policy Adverse selection - The insuring of risks that are more prone to losses than the average risk. Aleatory - An exchange of unequal amounts or values. "Ypu are not going to pay what you collect." Alien - Insurance company that is incorporated outside the United States Apparent authority - The appearance or assumption of authority based on the actions, words, or deeds of the principal or because of circu...

Primerica Insurance Exam: General Insurance Questions and Answers 2024/2025 /Updated Insurance - CORRECT ANSWER-A contract in which one party agrees to indemnify the insured party against loss, damage or liability from an unknown event. Insurance transfers - CORRECT ANSWER-The reduction, decrease, or disappearance of value of the person or property insured in a policy, caused by a named peril. Risk - CORRECT ANSWER-The uncertainty or chance of a loss occurring. Pure risk - CORRECT AN...

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...

California PSI Property and Casualty Insurance Exam (2024) || All Questions & Solutions (100% Verified) California PSI Property and Casualty Insurance Exam (2024) || All Questions & Solutions (100% Verified) Who is able to place business through the California Automobile Assessed Risk

The McCarran-Ferguson Act - ANSWER-Gave the States the right to regulate the majority of the Insurance Industry at the State level According to the insurance code, which of the following terms is mandatory? - ANSWER-Shall According to Proposition 103, the commissioner of insurance became an elected official. The commissioner may serve: - ANSWER-Two consecutive terms (8 Years) Any person capable of making a contract of insurance subject to the insurance code is: - ANSWER-An Insurer Wh...

Primerica Insurance Exam General Insurance

Insurance A contract in which one party agrees to indemnify the insured party against loss, damage or liability from an unknown event. Insurance transfers The reduction, decrease, or disappearance of value of the person or property insured in a policy, caused by a named peril. Risk The uncertainty or chance of a loss occurring. Pure risk Situations that can only result in a loss or no change Speculative risk The opportunity for either loss loss or gain