4 parts of legal contract - Study guides, Class notes & Summaries

The County of Death - ANSWER-Who is responsible for the transportation costs when a body is delivered to the ME? 48 Hours - ANSWER-How long must a body be retained before being donated to medical science? Each Embalmers Instructor - ANSWER-Who's signature is required on the Embalmers quarterly report, when given instruction by different teaching embalmers? 30 Days - ANSWER-Employees must take the Communicable disease course within how many days of employment? The County Commissioner...

N.C. Claims Adjuster Exam Latest 2023 Rated A+ Inception/Expiration Date an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date Date of which the loss occurred Identification of parties involved The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s)....

Oklahoma Property and Casualty Latest Update Graded A+ Representations Statements made by the applicant on an insurance application. Contract of Utmost Good Faith An insurer must rely o the truthfulness and integrity of the applicant. Contract of Adhesion When one party constructs the contract and the other party has no input. Elements of a Legally Binding Contract 1. Legal Purpose 2. Agreement (Offer and Acceptance) 3. Competent Parties 4. Consideration Special Peril Ty...

CSP Questions and Answers Already Graded A Safety The state of being relatively free from harm, danger, injury, or damage Risk A measure of both the likelihood(probability) and consequences(severity) of all hazards of an activity or action What are two aspects of Risk? The measure of probability and severity The five steps of the risk management process? 1. Risk Identification 2. Risk analysis 3. Risk elimination or reduction 4. Financing risk 5. Administering the risk management process Cal...

Adjuster Pro - Insurance adjuster test Questions And Answers 4 Parts of Legal Contract 1. Agreement 2. Consideration 3. Competent Parties 4. Legal Purpose legal contract - agreement mutual intent by offeror and offeree six special characteristics of insurance contracts 1. Personal 2. adhesion 3. utmost good faith 4. aleatory 5. unilateral 6. conditiona

Virginia Life Insurance and Annuities Questions and Answers Rated A+ Methods of Handling Risk (STARR) 1. Sharing (each member of group pays portion of loss) 2. Transfer (spreading risk among customers) 3. Avoidance (not engaging in certain activity) 4. Reduction (lessening chance) 5. Retention (indiv pays for loss) Elements of Insurable Risk (CANHAM) 1. Calculable (based on prior loss stats) 2. Affordable (for avg consumer) 3. Non-catastrophic (no widespread loss events) 4. Homogen...

Sociology 101 Straighterline Exam Questions and Complete Solutions __________ involves aspects of social life that have to do with order, stability, and social organization that allow societies and groups to hold together and endure. - Answer: Social statics Herbert Spencer viewed society as a system, having important similarities with - Answer: a biological organism __________ refers to processes of social life that pattern institutional development and have to do with social change. -...

What is insurance? Correct Answer: protection against financial loss what is a premium Correct Answer: a scheduled amount to be paid for an insurance policy. What are premiums used for Correct Answer: premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? Correct Answer: the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. w...

Certificate of Authority - License for insurance company to do business. This allows insurers to be considered ADMITTED or AUTHORIZED. Moral Hazard - Dishonesty or character defects in an individual that increase the frequency or severity of loss (Example: Applicant lies on insurance application) To be insurable, a risk must be - -due to chance -Definite and measurable -Statistically predictable -NOT catastrophic -Large loss exposure (large pool of randomly selected people/risks) Insura...

What is insurance? - ANSWER-protection against financial loss what is a premium - ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - ANSWER-premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? - ANSWER-the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Indemnity - ANSWER-paymen...