Insurable interest Study guides, Class notes & Summaries
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Texas Life Insurance exam| Questions with 100 % Correct Answers | Verified
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Who is considered a field underwriter? - An agent 
When must insurable interest exist in life insurance? - Application or issue date 
If no receipt is issued at the time of application, a statement of good health is usually required at the 
time of? - Policy delivery 
The Medical Information Bureau is?(MIB) - a source of medical information to alert insurers to 
adverse medical history 
A substandard risk compared to a standard risk would pay? - a higher premium 
Which document describes specifi...
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Life, accident and health insurance state exam- OH Already Passed
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Life, accident and health insurance state exam- OH Already Passed 
A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? preferred 
Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has better than average mortality 
The waiver of premium does NOT include which provision? Al future premiums are waived if the insured recovers from the disability 
An advertisement for an insurance produ...
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RSK2601 MCQ EXAM PACK 2024
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TEST BANK 
Enterprise Risk Management 
S - The Marketplace to Buy and Sell your Study Material 
1 
RSK2601 TEST BANK 
Question 1 
Which one of the following is a benefit of effective risk and opportunity management? 
1) Improved profit certainty 
2) Increased shareholder value 
3) Increased stakeholder confidence Correct option 3 
4) Lower economic returns 
Explanation 
Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and 
higher economic returns...
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LOMA 281 Module 4 | 174 Questions & Answers Solved 100% Correct!!
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Group Insurance - A method of providing life or health insurance coverage for a group of people 
under one insurance contract. 
commonly provide: 
- life insurance, medical expense insurance, disability insurance, and dental insurance coverage 
Master group insurance contract - An insurance contract that insures a number of people. 
Group insured - An individual covered by a group insurance policy. 
Group policyholder - The person or organization that decides what types of group insurance 
cover...
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LML4805 Assignment 1 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED
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Well-structured LML4805 Assignment 1 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). 1. Good faith and insurable interest may be regarded as possible essential requirements of an insurance contract. Provide reasons why some commentators are of the view that good faith and insurable interest should not be regarded as essential requirements. Refer to relevant authority. (5) 
2. Explain the similarities and differences between insurance contracts a...
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CIP C12 - Insurance on Property - Midterm Defining Property Insurance - CORRECT ANSWER--Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Int
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CIP C12 - Insurance on Property - Midterm 
Defining Property Insurance - CORRECT ANSWER--Protection against 
loss/damage to property 
-First party insurance 
-Premium exchanged for protection 
-Fortuitous losses (sudden and accidental) 
-Insurable interest 
-Intangible product 
Real vs Personal Property - CORRECT ANSWER-R: buildings or land (can't be 
moved) 
P: office desk or machinery (can be transported) 
Promise that Property Insurance is based on - CORRECT ANSWER--Insured
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USAA Licensing Exam Verified Questions And Answers 2024
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Insurance - Transfer of risk from one person or organization to an insurance company 
 
Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. 
 
Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums 
 
Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance 
 
Binder - Temporary insurance contr...
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MI Life Insurance Exam FX snapshot Q & A With Complete Solutions
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What is insurance? correct answer: Insurance transfers the risk of loss from an individual or business entity to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. 
 
What is risk? correct answer: Risk is the uncertainty or chance of a loss occurring. 
 
What is peril? correct answer: Perils are the causes of loss insured against in an insurance policy. 
 
What are the elements of insurable risk? correct answer: Loss must be 
1. due to chance 
2....
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LML4805 ASSIGNMENT 02 ANSWERS semester 1 2024. This document contains well answered and unique answers that will help you score a very good mark, contact 0/6/7/1/1/8/9/0/5/9 for further assistance.
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LML4805 ASSIGNMENT 02 ANSWERS semester 1 2024. This document contains well answered and unique answers that will help you score a very good mark, contact 0/6/7/1/1/8/9/0/5/9 for further assistance. 
 
The Assessment Questions follow below: 
Question 1: 
Briefly set out the legal principles established or confirmed in Littlejohn v Norwich Union Fire Insurance Society 1905 TH 374 (2) in relation to insurable interest over property belonging to a spouse. 
Also provide a brief summary of the facts o...
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SC Accident. Health, and Life Insurance Exam Questions & Answers 100% Accurate!!
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Annuity Certain - ANSWERSMaria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called 
 
Survivorship Life - ANSWERSThe type of policy which pays on the death of the last person is called 
 
Malign another insurer - ANSWERSDefamation occurs when a producer makes a false statement intended to 
 
A 70 year old NOT eligible for Social Security 
 
*You are not eligible to receive Medicare Part A benefits at age 65 or older if you are el...
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