Pure vs speculative - Study guides, Class notes & Summaries

2024 CA PSI SITE LIFE, ACCIDENT AND HEALTH AGENT EXAM WITH CORRECT ANSWERS 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 admissio...

Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER 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 - CORRECT ANSWER Pure r...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) 2024 Admitted Insurance Company vs. Non-Admitted Insurance Company -Answer-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...

what is risk? correct answers any uncertainty regarding financial loss three risk classifications: correct answers 1- pure vs. speculative 2- static vs. dynamic 3- objective vs. subjective risk is NOT correct answers probability pure risk correct answers loss/no loss only speculative risk correct answers loss/no loss/ gain static risk correct answers unchanging over time dynamic risk correct answers changing (especially w/ technology) objective risk correct answers statist...

Texas Property & Casualty License Exam 2024 Questions with 100% Correct Answers Property vs Casualty: What is considered property? Structure & Personal Property Property vs Casualty: What is considered casualty? Non-property losses. Legal liability to others. 3rd Party Risk uncertainty of financial loss Pure Risk Chance of Loss Speculative Risk Chance of Loss or Gain (Gamble) Insurance (covers which type of risk?) Pure Risk Only How does the law of large num...

South Dakota Crop Insurance Exam with Certified Solutions Insurable Interest occurs when a person stands to lose life or property. In property and casualty insurance an insurable interest must exist at the time of loss. In crop insurance, the owner of the crop has the insurable interest. Risk uncertainty or chance of loss. Can be speculative (an opportunity for gain that may result in a loss) or pure (involves only the possibility of loss or no loss) Exposure potential for loss th...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) Exam with Correct Solutions 2024 Admitted Insurance Company vs. Non-Admitted Insurance Company - Answer -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 require...

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...

Risk -Answer Uncertainty Types of risk -Answer Pure vs speculative Pure not insured Peril -Answer Cause of loss- open vs named Hazard -Answer Types- physical , moral , morale Indemnity -Answer No gain Subrogation -Answer Insurance sues at fault party Fiduciary -Answer Responsible for property of others Waiver -Answer Insurance company voluntarily gives up a policy right Warranty -Answer Written into contract-a promise- if broken claim does not...

CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER 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 becau...