Compulsory insurance laws - Study guides, Class notes & Summaries
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CAIB 1 - Chapter 6 Practice Questions and Answers 100% Pass
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CAIB 1 - Chapter 6 Practice Questions and 
Answers 100% Pass 
What types of claims are paid out under Death & Injury - Answer- court awards to 
innocent victims and their families, death benefits and funeral expenses, medical 
payments, rehabilitation costs, loss of income 
What types of claims are paid out under Damage to Property - Answer- Collision, 
Comprehensive 
Why is auto insurance compulsory in all provinces? - Answer- It is unlikely that people 
would voluntarily purchase insurance thu...
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CPCU 553 Exam Questions and Answers | 100% Correct| 2024 Updated
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CPCU 553 Exam Questions and Answers | 
100% Correct| 2024 Updated 
Special Damages - Answer️️ -form of compensatory damages for specific, identifiable losses 
Type of risk transfer - Answer️️ -Insurance; Hold Harmless Agreements; Hedging 
Unemployment Compensation Program - Answer️️ -sponsored by all states; 2/3 of all previous 
income 
Six approaches to compensation of auto victimes - Answer️️ -Tort Liability; Financial 
Responsibility Laws; Compulsory Insurance Laws; Uninsured ...
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Ga Property & Casualty Insurance Study Guide Questions And Answers
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Ga Property & Casualty Insurance Study Guide Questions And Answers 
 
Personal Automobile Policy - ANS • Accounts for 40% of all premiums 
• Vehicles registered to individuals and operated primarily for personal activities 
o Driving to work is a personal activity 
o Policy allows use of vehicle for incidental business activities 
 
Financial Responsibility State - ANS • Georgia is a financial responsibility state 
o To legally operate an automobile in the state of Georgia, a pe...
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CPCU 553 Exam Questions with 100% correct Answers | Verified & Updated | 13 Pages
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CPCU 553 Exam Questions with 100% correct 
Answers | Verified & Updated | 13 Pages 
One disadvantage of the tort liability system for compensation of auto accident victims is that 
Select one: 
A. It does not provide a remedy for victims of irresponsible drivers who cause accidents. 
B. There are substantial time delays in reaching a settlement either through negotiation or 
through the courts. 
C. It does not allow punitive damage awards to be included as part of the compensation. 
D. The minim...
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Arkansas Property and Casualty Insurance Exam Question and answers rated A+ 2024
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Arkansas Property and Casualty Insurance Exam Question and answers rated A+ 2024 
Before workers comp laws, employers had 3 common law defenses to avoid paying claims- - correct answer Assumption of Risk - This defense placed all the risk on the employee as being responsible for knowing the work conditions prior to employment. 
 
Fellow Servant Rule - Removed the employer's negligence if a fellow employee contributed in any way to the loss. 
 
Contributory Negligence - Used to argue that the em...
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220 EXAM - FLORIDA STATUTES VERIFIED SOLUTIONS
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220 EXAM - FLORIDA STATUTES VERIFIED SOLUTIONS 
All of the following are grounds for compulsory refusal, suspension, or 
revocation EXCEPT: 
A. Unlawfully rebating 
B. Fraudulent submission of a Workers' Comp app 
C. Lack of reasonably adequate knowledge 
D. Soliciting insurance in other areas of the state 
D. Soliciting insurance in other areas of the state 
How long is a temporary license good for? 
A. 12 months 
B. 6 months 
C. 4 months 
D. 2 months 
B. 6 months 
Brainpower 
R...
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CPCU 553 - Chapter 2 Test Questions with Complete Solutions
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What are the different approaches (6) auto insurers and state governments have designed to compensate auto accident victims? 1. Tort liability system 
2. Financial responsibility laws 
3. Compulsory insurance laws 
4. Uninsured motorist coverage 
5. Underinsured motorist coverage 
6. No-fault insurance 
 
Briefly describe how the tort liability system compensates injured auto accident victims. If a driver operates an auto in a negligent manner that results in bodily injury or property damage to ...
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CPCU 553 - Chapter 2 |48 Questions And Answers
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What are the different approaches (6) auto insurers and state governments have designed to compensate auto accident victims? - ️️1. Tort liability system 
2. Financial responsibility laws 
3. Compulsory insurance laws 
4. Uninsured motorist coverage 
5. Underinsured motorist coverage 
6. No-fault insurance 
 
Briefly describe how the tort liability system compensates injured auto accident victims. - ️️If a driver operates an auto in a negligent manner that results in bodily injury or pro...
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American Politics and the US Constitution - C963 WGU Correctly Solved 2023
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American Politics and the US Constitution - C963 WGU Correctly Solved 2023 
natrual rights ->>Life, Liberty, and Property 
John Locke ->>17th century English philosopher who opposed the Divine Right of Kings and who asserted that people have a natural right to life, liberty, and property. 
State of Nature ->>Hypothetical condition assumed to exist in the absence of government where human beings live in "complete" freedom and general equality. 
Due Process ->>involves th...
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Ga Property & Casualty Insurance Study Guide Questions and Answers with complete solutions
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"Your covered automobile" - all of the vehicles that you may be driving for the coverages in the 
policy and need coverage 
listed on the declarations page 
includes automobiles covered for newly acquired vehicles, additional and replacement 
Eligible Vehicles - o Private passenger automobiles 
o Trucks <10,000 lbs. 
o Vans <10,000 lbs. 
Owned or Leased 
No business activities covered for trucks and vans 
Financial Responsibility State - • Georgia is a financial responsibility state 
o...
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