Life agent insur - Study guides, Class notes & Summaries

North Carolina XCEL Testing Life & Health Insurance Exam Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated -Answer: 1970 - Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their risk exposure? -Answer: Treaty What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained? -Answer: Fai...

1 / 34 FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS AND ANSWERS 2023 EXAM GRADED A (Over 200 questions and answers 100% verified) 1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy.The insurance company will make a payment to: A. The first mortgagee, ABC B.The Insured C. Jointly to ABC and XYZ D. All listed interests: Ans- D. All listed interests Remember that the insurer is not responsible to know...

Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWERAn admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - ANSWERPure risks are insurable but Specula...

California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct 105. Question #90543 The formula that is used to determine how much is taxable during the payout is the: AMortality ratio B7 pay test CMorbidity ratio DExclusion ratio: d Explanation: The exclusion ratio is the formula which is used by the IRS to determine how much is taxable to an annuitant during the pa...

52 Hour California Life, Accident and Health Insurance Exam Course 100% Solved

North Carolina XCEL Testing Life & Health Insurance Exam 2023/2024 1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- ...

1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- Fair Credit Re- porting Act 4. Who elects the governing body of a m...

California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct 105. Question #90543 The formula that is used to determine how much is taxable during the payout is the: AMortality ratio B7 pay test CMorbidity ratio DExclusion ratio: d Explanation: The exclusion ratio is the formula which is used by the IRS to determine how much is taxable to an annuitant during the pa...

Florida Health Insurance Exam Questions And Answers (Verified And Updated) Consideration - answerIt is the binding force in any contract. Something of value that each party gives to the other. Insurer's is the promise to pay for losses; insured's is the premium and statements on the application. Representations - answerstatements believed to be true to the best of one's knowledge, but they are not guaranteed to be true. The Insured's statements on the application are _________________...

FLORIDA LIFE AND HEALTH INSURANCE 1. Insured: The person covered by the insurance policy. 2. Rider: A written modification attached to a policy that increases or decreases coverage and/or premiums. 3. What is a unilateral contract?: A contract in which only one of the parties is legally bound to fulfill its obligations. 4. What law protects consumers from the circulation of inaccurate or obsolete information?: The Fair Credit Reporting Act. 5. What are the three types of agent authority?:...