Non waiver agreement - Study guides, Class notes & Summaries

PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM ALREADY PASSED Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter a...

Non-waiver agreement correct answers A signed agreement indicating that during the course of investigation, neither the insurer nor the insured waives rights under the policy. Reservation of rights letter correct answers An insurer's letter that specifies coverage issues and informs the insured that the insurer is handling a claim with the understanding that the insurer may later deny coverage should the facts not correlate Estoppel correct answers Someone by lack of action, indicated tha...

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

CITI -Social Behavioral Research Questions and Answers What procedures must be described in an agreement called an "assurance of compliance" with OHRP? Procedures in place that ensure that subjects will be protected in a manner commensurate with the Common Rule, including review by an independent committee comparable to an IRB. A researcher proposes to conduct a study at a foreign site that has been determined to be exempt from the federal regulations by institutional policy. Accordi...

RHODE ISLAND ADJUSTER UPDATED Exam Questions and CORRECT Answers HOW MANY DAYS DOES THE INSURER HAVE TO SEND OUT FORMS WHEN NOTIFIED OF AN INCIDENT? - Correct Answer- 10 DAYS AT WHAT TIME IS THE POLICY EFFECTIVE? - Correct Answer- 12:01 AM WHAT IS THE MAIN DIFFERENCE BETWEEN A NON-WAIVER AGREEMENT AND A ROR? - Correct Answer- -NON-WAIVER IS SIGNED BY THE INSURED AND INSURER -ROR IS A LETTER

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

Admitted Insurance Company vs. Non-Admitted Insurance Company - An 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 - Pure risks are insurable but Speculative risks a...

"taking the expected value" - ANSWERrefers to the process of accounting for the impact of probability abridged financial report - ANSWERan annual report that is provided in the renewal process from non-refund plans. It shows only premiums, claims and waiver of premium and/ or disabled reserves Accumulation-Oriented Benefits - ANSWERsuch as pension plans, profit-sharing plans, stock bonus plans, stock purchase plans and so forth, could involve relatively long waiting periods and could...

CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? peril is the causes of loss insured against in an insurance policy What is hazard? conditions that increase the pr...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) Exam Questions With 100% Verified Answers. 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...