Texas licensing insurance - Study guides, Class notes & Summaries

Texas All-Lines Adjusterinsurance - correct answer The transfer of risk. Insured - correct answer 1ST party. Customer. Person covered by policy. Insurer - correct answer 2ND party. Insurance company Adjuster - correct answer Investigates/adjusts claims Licensing age requirement - correct answer 18 NOT exempt for licensing - correct answer MBA Expiration date of adjusters license - correct answer 2nd anniversary of Licensee Birthday. Every 2 years after. Required CE hours - c...

USAA Licensing Exam Questions and Answers 2024 with complete solution Insurance - answerTransfer of risk from one person or organization to an insurance company Indemnity - answerThe principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - answerMathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - answerProof that someone stands to lose financially if a loss occurs; must exist at ...

WebCE (General Insurance & Life Insurance) Exam Questions and Answers | Latest Updated 2023/2024 (Graded). An insurance producer tells a life insurance applicant that he has the authority to waive the medical exam that is normally required by the insurer with every application. The insurer may be required to accept the application without a medical exam due to the producer's: implied authority express authority apparent authority imputed authority - apparent authority All of the followin...

Insurance adjuster correct answers Any person who, as an independent contractor, or as an employee of an independent contractor, adjustment bureau, association, insurance company or corporation, local recording agent, managing general agent, or self-insured, investigates or adjusts losses on behalf of either an insurer or a self insured, or any person who supervises the handling of claims. Staff Adjusters correct answers On the payroll of an insurance company and are paid a salary or by hour ...

What does the Federal Housing Administration statues prohibits? - Answer-Prohibits discrimination based on: NATIONAL ORIGIN Race color Religion Sex Families with children Disabilities Loan not intended for sale in the secondary market. b/c it is retained by the lender in their investment portfolio - Answer-Portfolio Loan What is TDHCA? - Answer-(Texas Department of Housing and Community Affairs) Responsible for affordable housing. Is the process of creating a new mortgage loan. ...

Preneed Prep Exam 2024 Questions and Answers Joint Memorandum - Who What When Why -Answer-Who: DOB, FSC, TDI What: A joint agreement that established specific area of responsibilities for prepaid funeral svc . When: 1995 Why : its creation was mandated by the Texas Civil Statutes What is a preneed Funeral contract -Answer-Any written contract of agreement, funded by an insurance policy, annuity contract or trust deposit, for the purpose of furnishing or delivery of prepaid funeral be...

Texas All-Line AdjusterStaff Adjuster - correct answer Adjusters who work exclusively for an insurance company Independent Adjuster - correct answer An individual who employs as an independent contactor to an adjusting and staffing company and handles claims for an insurance company Public Adjuster - correct answer Adjusters that represent the insured by negotiating claims with the insurance company Insurer - correct answer Any insurance company or self-insured. An organization or entit...

USAA LICENSING EXAM QUESTIONS AND ANSWERS (GRADED A+) LATEST UPDATE 2024 Insurance - answerTransfer of risk from one person or organization to an insurance company Indemnity - answerThe principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - answerMathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - answerProof that someone stands to lose financially if a loss occurs; must exist...

The uncertainty of financial loss - Risk insurance terminology refers to Hazards - Conditions that increase the chances of an insured loss occurring are referred to as Policyowners - Mutual companies are owned by Utmost good faith - The insurer must be able to rely on the statements in the application, and the insured must be able to rely on the insurer to pay valid claims. In the forming of an insurance contract, this is referred to as Exchange of something of value by both parties - In an ...

TDLR mold regulation requires licensing and or registration of persons - mold assessment consultants, mold remediation contractors, Mold assessment technician, Mold remediation workers. when performing mold related work, what are TDLR mold regulation insurance requirements? - general liability insurance, 1 million per occurrence, name Texas Department of Licensing and Regulation as certificate holder, Insurance company authorized to do business in Texas. TDLR mold regulation permits ...