Insurer - Study guides, Class notes & Summaries

Wisconsin Accident and Health Insurance Exam Questions and Correct Answers 100% Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds - CORRECT ANSWER-Shareholders Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred annuity - CORRECT ANSWER-Life insurance Which of the following outlines the authority given to the produ...

Primerica Life Insurance Exam Questions and Answers Already Passed An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock A. mutual funds not paid out after paying claims and other operating costs are returned to the po...

PA Property & Casualty License Practice Exam Questions and Answers Already Passed An exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. an Earth movement exclusion An exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of the fact that the individual did not maintain the property. Neglect exclusion ...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

Life Insurance Exam 2024 Questions and Answers 100% VerifiedLife Insurance Exam 2024 Questions and Answers 100% VerifiedLife Insurance Exam 2024 Questions and Answers 100% VerifiedLife Insurance Exam 2024 Questions and Answers 100% VerifiedJ has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to ad...

WV Life Insurance Laws and Rules Latest Update Graded A+ Examination of Records The Commissioner can examine anyone in the business of insurance in the state at anytime. A company shall be examined every 5 years. Notice and Hearing the Commissioner may call and hold hearings for any purpose deemed necessary. Insurance Commissioner the commissioner may conduct investigations or examinations whenever deemed necessary, subpoena the witnesses to testify. cease and desist order the ...

The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: Fair Credit Reporting Act A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: A fraternal benefit society What I the name...

Alberta General Insurance Level 1 – Questions and Answers Already Passed Your insured, a sole proprietor, purchased a building valued at $1 million. The insurance policy has a coinsurance clause based on the replacement cost value of 90%. Contrary to your advice, your insured insures the building for only $500,000. He suffers a windstorm loss totaling $150,000. How much will the insurer pay? a) $75,000 b) $83,333 c) $150,000 d) $93.755 b) $83,333 An insured property is covered ...

Ohio Property and Casualty Exam Questions & Answers 2023-24 What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...

MICHIGAN LIFE AND HEALTH FINAL EXAM / 80+ QUESTIONS AND CORRECT ANSWERS 2023/2024 / GRADED A+. Final Exam-Michigan Life and Health 1. What amount will be paid under a policy where the insured misstated his/her age?: an amount the premium would have purchased at the correct age 2. the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days: 30 days 3. which of these is considered to be a Living benefit option in a lif...