Negotiating insurance - Study guides, Class notes & Summaries

Rhode Island Insurance Exam Questions and Answers Already Passed the role of insurance is to transfer the risk of financial loss from an individual or business to an insurance company organized and incorporated under state law owned by stockholders who get a paid share of the company's profit through dividends. also referred to as a nonparticipating or non-par bc policy holder do not participate in paid dividends stock insurance company organized and incorporated under state law....

FL Adjusters License Practice Exams 2023 Which of the following is NOT one of the four critical elements of a contract? (A) A mutual understanding and agreement with the terms of the contract. (B) Written evidence of the agreement and its terms. (C)A legal purpose. (D)Consideration, consisting of money or a promise of performance. Correct Answer: (B) Written evidence of the agreement and its terms. Assume that five years ago a couple insured their home for [its then appraise...

LSUS MHA 706 Midterm Questions and Answers Graded A+ Question: What is the primary goal of healthcare financial management? Answer: The primary goal of healthcare financial management is to ensure that healthcare organizations have the financial resources to provide high-quality patient care, sustain operations, and achieve strategic objectives while maintaining financial stability. Question: How does cost-shifting impact healthcare providers? Answer: Cost-shifting occurs when hea...

Types of Licenses - ANSWER--Producers -Business entity producers -Nonresident producers -Temporary -Special Brokers -Advisers -Public insurance adjusters -Reinsurance Adjusters -Life settlement broker portable electronics insurance limited lines insurance Producers - ANSWER-is a general term applied to anyone who engages in the sale of insurance products. Producers must be licensed by the state in which they wish to sell insurance. Business entity producer - ANSWER-A requirement f...

Reimbursement Methodologies Exam 3 Questions and Answers Already Passed What does "reimbursement methodology" refer to in healthcare? a. The process of hiring healthcare providers b. The system used to determine how healthcare providers are paid for services rendered c. The coding systems for diagnoses d. The administrative tasks involved in patient care How do managed care organizations typically influence reimbursement? a. By negotiating payment rates and controlling healthcare c...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

DELAWARE LAWS, RULES & REGULATIONS: Life, Accident and Health, Property and Casual Insurance Exam Questions and Answers 100% Pass Producer/Agent - Correct Answer ️️ -Agent of Insurer - Licensed producer appointed by and represents insurer - Sells, solicits, or negotiates applications and policies - Able to issue conditional receipts BROKER - Licensed producer who represents the insured for compensation Insurance Producer - Correct Answer ️️ --Person required to be licensed to se...

Herb owns a processing plant outside of town that services all the local farmers. He's been using over-the-road transportation but wants to streamline his business by using the railroads. He contacts ABC Railway Transport and the two come to an agreement: ABC Railway will run a sidetrack onto Herb's business premises, if Herb agrees not to hold ABC Railway responsible for certain liabilities that could result from the sidetrack's use. This agreement would fall under __________ in He...

insurance Correct Answer-A contract in which one party (the insurer) for monetary consideration agrees to reimburse another (the insured) for loss or liability for a loss on a defined subject caused by specified hazards or perils. risk Correct Answer-The chance of loss. Specifically, the possible loss or destruction of property or the possible incurring or a liability. Sometimes referred to as the subject of an insurance contract. speculative risk Correct Answer-chance of loss or gain; not...

Property and Casualty New York Exam Set Test Questions And Revised Correct Answers Updated & Already Passed What is a Broker? - ANSWER : A broker is someone who acts on behalf of the insured in negotiating insurance, their for a broker has no binding authority , however brokers are considered to be a collector of premiums. What is an agent (producer)? - ANSWER : An agent is a person who acts on behalf of an insurance company with whom they are contracted. Agents have binding ...