Contract of adhesion - Study guides, Class notes & Summaries

Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - Correct Answer -D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it is up to the additional in...

Under the California Financial Information Privacy Act, what must consumers be advised of? - ANSWER-A financial institution has authority to share their personal financial information Which term describes the probability of loss? - ANSWER-Risk Elements of an insurable risk do not include: - ANSWER-Catastrophic perils Which of the following is the correct term to describe a contract prepared by one party and submitted to the other party on a take it or leave it basis, without negotiation...

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. De...

ACA Final Exam Questions and Answers 2023 At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters Set rates and write policies ...

California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers) 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 fa...

Accumulated Depreciation Correct Answer: The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) Correct Answer: A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion Correct Answer: One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms,...

Test Bank - Applied Pathophysiology for the Advanced Practice Nurse 1ST Edition Lucie By Dlugasch, Lachel Story | Complete 2023/2024. A 50-year-old man is having an acute myocardial infarction and will be administered recombinant tissue plasminogen activator (t-PA). The medication activates plasminogen in order to: A) decrease platelet adhesion. B) increase clotting time. C) promote fibrinolysis. D) promote coronary vasodilation. Ans: C Complexity: Easy Ahead: Hematopoietic System Subj...

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking on...

ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) 2023-2024 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 collect...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...