Oasdi - Study guides, Class notes & Summaries

Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? - United States v. Southeastern...

Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? - United States v. Southeastern...

risk avoidance correct answers occurs when individuals evade risk entirely risk reduction correct answers occurs when chances of risk are lessened risk retention correct answers is being aware of the risks involved and taking precautions for financial protection. risk transference correct answers is the act of shifting the responsibility of risk to another in the form of an insurance contract. physical correct answers A bodily disease of endangerment, such as cancer, presents a _____...

Errors and Omissions Insurance - Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? Waiver - Which of the following terms is known as the voluntary relinquishment of a given right or privilege? United States v. Southeastern Underwriters Association (1944) - This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance a...

FPC Payroll Fundamentals 1 Final Study Guide Complete Set Worker that has Fed, OASDI, Medicare, State withheld - CORRECT ANSWEREmployee Worker that requires the employer to pay ER taxes - CORRECT ANSWER-Employee Worker that receives W2 form - CORRECT ANSWER-Employee Worker that does not have taxes withheld - CORRECT ANSWER-Independent Contractor Worker that has TIN - CORRECT ANSWER-Independent Contractor Worker that receives 1099 Form - CORRECT ANSWER-Independent Contractor Asks how ...

Representations and Warranties - ANSWER Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - ANSWER Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losses ...

Health Insurance Florida 2-40 Practice Exam Questions #2 Already Graded A Which of the following is NOT a form of medical insurance? -Business overhead expense -Surgical expense -Hospital expense -Long term care Business overhead expense (Explanation:Business Overhead Expense insurance is designed to reimburse a business for overhead expenses in the event a business owner becomes disabled. Expenses such as rent, utilities, telephone, equipment, employees' salaries, etc.) All of the followi...

PA Life Accident & Health - WebCE practice exam questionsAlex sold an insurance policy before his license lapsed and earned a commission on the sale. Is he entitled to a commission if the policy is renewed? - correct answer yes, because he was licensed when the policy was sold Under the Old Age, Survivors, and Disability Insurance (OASDI) Program, eligible workers and their families may be entitled to receive all of the following EXCEPT: - correct answer Medical care benefits A claimant on...

California Insurance Exam Questions and Answers 100% Pass, Latest Update Two methods of determining insurance need: -Ans - Human Life Approach - Needs Approach Human Life Value Approach~ -Ans - One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on age, gender, planned retirement ag...

risk avoidance - occurs when individuals evade risk entirely risk reduction - occurs when chances of risk are lessened risk retention - is being aware of the risks involved and taking precautions for financial protection. risk transference - is the act of shifting the responsibility of risk to another in the form of an insurance contract. physical - A bodily disease of endangerment, such as cancer, presents a _____ hazard. morale - A mental trait, such as road rage, presents a ____ hazard....