Private insurer - Study guides, Class notes & Summaries

Wisconsin Accident and Health Insurance Exam 2 Questions and Answers 2024 Alan is an enrollee of a health maintenance organization (HMO) which uses a gatekeeper system. If there ever comes a time when he needs emergency health services, what should he do? Receive permission from the primary physician to begin treatment. Call the HMO to verify coverage. Proceed to the nearest emergency room. Contact the HMO for a listing of approved providers. - CORRECT ANSWER-Proceed to the neares...

What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage suffered. Compensatory damages for bodily injury are ...

Primerica Practice Exam Test A 75 Questions & Answers 2023 1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured ...

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...

When the disclosure of an insured's nonpublic information is involved, what is the insurer obligated to do? - correct answer Give notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - correct answer 9:00 PM A health plan offered by private insurance companies is - correct answer Medicare Supplement Chris has a single major medical contract which covers all medical expenses. His plan is considered to be - correct answer...

When the disclosure of an insured's nonpublic information is involved, what is the insurer obligated to do? - ANSWER Give notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - ANSWER 9:00 PM A health plan offered by private insurance companies is - ANSWER Medicare Supplement Chris has a single major medical contract which covers all medical expenses. His plan is considered to be - ANSWER comprehensive

CAIB 1 Practice Exam Questions and Answers All Correct Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements? - Answer-Insurable Interest Utmost Good Faith Indemnity Explain the meaning and disadvantage of the following approaches: Avoi...

Virginia Life Insurance and Annuities Questions and Answers Rated A+ Methods of Handling Risk (STARR) 1. Sharing (each member of group pays portion of loss) 2. Transfer (spreading risk among customers) 3. Avoidance (not engaging in certain activity) 4. Reduction (lessening chance) 5. Retention (indiv pays for loss) Elements of Insurable Risk (CANHAM) 1. Calculable (based on prior loss stats) 2. Affordable (for avg consumer) 3. Non-catastrophic (no widespread loss events) 4. Homogen...

All of the following are producer responsibilities to the applicant, except: - Answer-Offering and selling only the lowest premium policy ___________ manufacture and sell insurance coverage in the form of policies or contracts of insurance. - Answer-Insurers When both parties must perform certain duties and follow certain rules of conduct to make a contract enforceable refers to a(n) __________ contract. - Answer-Conditional _____________ insurance allows for insurance coverage to be ob...

RMIN 4000 Exam 2 Questions and Answers Already Passed Major Types of Private Insurers Stock Insurers Mutual Insurers Lloyds of London Stock Insurer -A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Allstate, Metlife, etc.) Mutual Insurer -a corporation owned by policyholders. -profits are distributed to policyholders by dividends or rate reductions. (statefarm, nationwide, liberty mutual) ty...