Usaa auto insurance - Study guides, Class notes & Summaries

New York USAA Exam Review With 100% Correct Answers Watercraft liability, medical expenses and uninsured boaters are coverages provided under which of the following policies? I. Watercraft. II. Homeowners. III. Mariners. - answerI only is correct. Explanation: Watercraft policies are designed to cover boats used primarily on fresh water streams and lakes. It is a package policy providing several coverages including hull, motor and trailer coverage along with liability coverage. Under ...

USAA Licensing Exam 2023 Passed 100% 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...

USAA Auto Insurance Terms Exam Questions with correct Answers

USAA API EXAM Q&A Correctly Solved Rated A+ Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. -ANS- This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o a license, he was arrested and fined $50. The case went all the way to Supreme Court and was finally decided in 1869, that insurance wasn't intersta...

TEXAS PROPERTY AND CASUALTY EXAM AND PRACTICE QUESTIONS WITH VERIFIED CORRECT ANSWERS || GRADED A+ || LATEST UPDATE Laws of Large Numbers - ANSWER The larger the group, the more accurately losses can be predicted Elements of Insurable Risk - ANSWER C-alculable A-ffordable N-on-catastrophic H-omogeneous A-ccidental M-easurable Calculable - ANSWER Premiums must be calculable based upon prior loss statistics for that particular risk in order to predi...