How was the nfip created - Study guides, Class notes & Summaries

Why was the commercial Insurance Deregulation Act Created? - ANSWER-To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANSWER-30 days before What losses are excluded from flood insurance? - ANSWER--Landslides -Sewer b...

QUESTIONS AND ANSWERS

CISR: Agency Operations Exam 100 Questions with Answers Types of Stakeholders - CORRECT ANSWER managers and employees customers insurers vendors industry associations government Transfer - CORRECT ANSWER Insurance: transfer of financial consequence to an insurance company Non Insurance: when a customer transfers financial consequences to another by contract or agreement Retention - CORRECT ANSWER Active: when a customer knows before the loss that they are responsible for all...

AYPORealEstate Test 1 Disparate impact - ANS A set of criteria which are not directly targeted at a specific group but will disproportionately affect that group. What purpose is served by regulating real estate licensing? - ANS 1. prtect the eneral public during real estate transactions from dishonest or incompetent brokers and sales agents. 2. maintain high standards or the real estate profession 3. set out minimum standards and qualifications for licensing brokers and...

CISR Agency Operations Exam 265 Questions with Answers Professional - CORRECT ANSWER an adjective used to describe appearance, attitude, or actions Acting Ethically and Professionally - CORRECT ANSWER you put the needs of your clients above your own Ethics - CORRECT ANSWER a system or set of moral principles or practice a set of rules or standards based on a set of principles or values we accept as truths and that govern our behavior Factors that influence ethics - CORRECT ANSWER Fr...

Adjuster Pro - Florida Certified Adjuster Glossary| 260 QUESTIONS| 19 PAGES Adjuster Pro - Florida Certified Adjuster Glossary| 260 QUESTIONS| 19 PAGES 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 c...

TEXAS PROPERTY AND CASUALTY EXAM AND PRACTICE QUESTIONS WITH CORRECT DETAILED ANSWERS || ALREADY GRADED A+ < UPDATED> Which of the following statements most accurately describes the coverage provided by the Texas Uninsured/Underinsured Motorists Coverage? A The coverage applies to the insured, their family members and passengers in the insured's car, but not to others driving the insured's car B The coverage pays for property damage, includin...

NMLS SAFE EXAM QUESTIONS AND ANSWERS ALREADY PASSED, Rated A Document Content and Description Below NMLS SAFE EXAM QUESTIONS AND ANSWERS ALREADY PASSED Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rat...

Primary Mortgage Market - ANSWER Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan B. The borrower qualified at the buydown rate - ANSWER When utilizi...

Revision Package- Property And Casualty Exam (150 Questions) Solved 100% The Commercial Property policy applies a limit of what dollar amount for business personal property temporarily away from the premises? -ANS- $10,000 What is the name of the organization created to provide auto insurance to individuals who have been unable to obtain it through the private market? -ANS- The Connecticut Automobile Insurance Assigned Risk Plan Which term describes the situation when two policies cover...