Insurance exam fx - Study guides, Class notes & Summaries

If a producer changes his residential address who must he/she notify? - answer-This change will need to be reported to the Commissioner. Which of the following is NOT true regarding minors purchasing insurance policies in this state? - answer-Minors at the age of 14 are allowed to buy their own policies. What is the penalty for IRA distributions that are below the required minimum for the year? - answer-50% All of the following are business uses of life insurance EXCEPT - answer-Funding ...

The causes of loss insured against in an insurance policy are known as CORRECT ANSWER Perils Before an insurer will pay any loss under a policy, what is usually required from the insured? CORRECT ANSWER Proof of loss An insured works outside the home. The insured's sister lives with him and cares for his four children. When the insured's home is severely damaged by fire, the family moves into an apartment while repairs are being made. The largest apartment available in the area has two b...

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Exam FX Insurance Practice Exam Questions property and casualty Latest Update Actual Exam 120 Questions and 100% Verified Correct Answers Guaranteed A+

Accelerated benefits - Answer-riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses accident - Answer-an unplanned, unforeseen event which occurs suddenly at an unspecified place Accidental Death and Dismemberment - Answer-an insurance policy which pays a specified amount or a specified multiple of the insured's benefits if the insured dies, loses sight, or loses two limbs accidental death benefits - Answer-a policy ...

Alabama State Insurance Exam FX questions and answers

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. definit...

Alabama Life and Health Insurance Exam FX Simulation Questions and Answers 2024 / 2025 | 100% Verified Answers Alabama Life and Health Insurance Exam FX Simulation Questions and Answers 2024 / 2025 | 100% Verified Answers Alabama Life and Health Insurance Exam FX Simulation Questions and Answers 2024 / 2025 | 100% Verified Answers Alabama Life and Health Insurance Exam FX Simulation Questions and Answers 2024 / 2025 | 100% Verified Answers Alabama Life and Health Insurance Exam FX Simulation...

Insurance Exam FX 2024 Accelerated benefits - Answer ️️ -riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses accident - Answer ️️ -an unplanned, unforeseen event which occurs suddenly at an unspecified place Accidental Death and Dismemberment - Answer ️️ -an insurance policy which pays a specified amount or a specified multiple of the insured's benefits if the insured dies, loses sight, or loses two l...