When will a policy pa - Study guides, Class notes & Summaries

RMIN 4000 Exam 3 - Topics 8,9,10 Questions and Answers 100% Pass How long is an auto insurance policy? usually 6 or 12 months Who writes auto insurance policies? ISO What is ISO? Insurance Services Office Five General Types of Coverage for Auto Insurance 1. Liability 2. Uninsured Motorist 3. Medical Payments 4. Damage 5. Convenience Coverage When is liability coverage implemented in auto? when you have a liability to a 3rd party for property damage (PD) or bodily injury (BI)...

PA LIFE, ACCIDENT, AND HEALTH EXAM 2024 WITH 100% CORRECT ANSWERS Premium payments for a universal life policy are NOT used for: - correct answer Separate account investments Under PA statute, first year commission for long-term care insurance may not be greater than - correct answer 50% of the first year premium 10-year level term life InsPol that has a death benefit of $2000,000. It is true that: - correct answer The face amount and premium will remain constant over the 10 year peri...

PA Appraisal License Auto Physical Damage Exam Questions And Answers Latest (Graded) The device that synchronizes the spark plug firing sequence is: - Answer Camshaft Sensor If an insured fail to report a claim in a timely fashion the adjuster will usually: - Answer Send the insured a reservation of rights letter When using a dedicated bench fixture to measure a unibody with front-end damage, where should fixtures be placed? - Answer Fixtures should be placed in the damaged area to check ...

PA LIFE INSURANCE LATEST VERSION GRADED A+ Insurance created as a practical means to reduce the financial impact of an unexpected loss. life insurance transfers to a life insurance company the risk of financial loss resulting from the death of an insured person. The life insurance company guarantees to pay a specified amount of money to a beneficiary when the insured dies. annuity A cash contract between a person (the annuity owner) and a life insurance company (the annuity issuer...

PA Property and Casualty License PractiAn 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. - ANSWER 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. - ANSWER Neglect exclusion Which Home Owner's form covers dama...

Webce Exam Practice Questions With Answers | Latest Updated 2023/2024 (GRADED A+). Agent Jill received a letter from the Department of insurance asking her to submit verification of having completed the continued education requirements for the previous licensing period. Three weeks later, the department sent another letter. Which penalty may the Department impose if Jill has still not responded to their request a month later? - ANSWER a fine up to $100 per day per violation A producer has 3...

BPP building coverage insures the building at the described location, outdoor, fixtures, furnitures, items used to service the property, permanently installed machinery and equipment, and additions under construction, including the materials, supplies, and equipment. HO limits of property at other residences the larger of $1000 or 10% Coverage C. Limit does not apply if property is moved because the residence premise is being repaired or rebuilt. When property is moved to newly acquire...

an immediate annuity has been purchased with a single premium. when does the annuitant typically begin receiving benefit payments? - ANS 1 month An insurer will accept a premium from the insured and continue the coverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - ANS Grace period The grace period is the amount of time an insurer continues coverage in full force and will accept the p...

Premium payments for a universal life policy are NOT used for: - ANSWER ☑☑Separate account investments Under PA statute, first year commission for long-term care insurance may not be greater than - ANSWER ☑☑50% of the first year premium 10-year level term life InsPol that has a death benefit of $2000,000. It is true that: - ANSWER ☑☑The face amount and premium will remain constant over the 10 year period Insurance premium is determined by each of the following factors exc...

Property & Casualty - PA – Basics Questions and Answers Rated A+ Property Insurance 2 party contract. Casualty Insurance 3rd party contract. Liability. Insurable Interest Financial someone has in someone or something. Required for coverage. Must exist AT THE TIME OF LOSS. Underwriting Gathers information. Issue policy, decide on rates, fees and credits, may change coverage in order to issue, may reject a policy completely. GOAL = avoid adverse selection. Rates Objective = es...