Indemnification - Study guides, Class notes & Summaries

PSI Maryland Practice Exam (National Real Estate Salesperson) 80 Q&A/ . Terms like: Under the common law of agency, licensees owe the broker with whom they are associated all of the following duties EXCEPT _________? A. Loyalty. B. Competence. C. Indemnification. D. Full disclosure. - Answer: C. Indemnification. If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. Exter...

KY Study Set - Property & Casualty All of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - correct answer C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. Inspects losses, determines if there is coverage, e...

Property and Casualty Insurance KYAll of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - correct answer C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. Inspects losses, determines if there is coverage, est...

State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025 which of the following refers to being restored to the financial condition you were in before a loss? - CORRECT ANSWER indemnification mark incurred 8000$ damage to his car in an accident. he received 8000$ from his insurance company and 4000$ from the other driver. by receiving a profit from the loss, Mark is in violation of.. - CORRECT ANSWER principle of indemnity the transfer of risk from one party to an...

PSI Maryland Practice Exam Questions and Answers Already Passed If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. B. $250,...

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...

Exam Prep NASCLA Contractor's Guide to Business, Law, and Project Management, Florida 1st Edition Practice Test 2 Already Passed 1. Which of the following bonds guarantees that the contractor has paid the subcontractor? A. Bid bond B. Performance bond C. Payment bond D. James bond Payment Bond 2. The _____________ method recognizes income when the employer has done the work, yet has not received the income. A. Accrual B. Appreciation C. Deprecation D. Cash...

State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025 which of the following refers to being restored to the financial condition you were in before a loss? - CORRECT ANSWER indemnification mark incurred 8000$ damage to his car in an accident. he received 8000$ from his insurance company and 4000$ from the other driver. by receiving a profit from the loss, Mark is in violation of.. - CORRECT ANSWER principle of indemnity the transfer of risk from one party to an...

What is a reserve, in insurance terms? - Answer A pool of collected premiums that the insurer sets aside to pay claims Which of these scenarios is NOT an example of indemnification? - Answer When trying to renew her dog's license, Ellen has to pay a penalty to the city for letting its rabies vaccination lapse. Ellen having to pay a fine is not an example of indemnification. Indemnification means being restored to the financial condition you were in before a loss. In three of these sit...

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...