Fred loya insurance - Study guides, Class notes & Summaries

Pure Risk - Answer-No possible gain risk - Answer-The certainty of a future outcome Speculative Risk - Answer-Involves gain or loss Peril - Answer-The cause of a loss Ex; accident, fire wind ,hail,collison Hazard - Answer-increase possibility of a loss Loss - Answer-chance of loss because of an exposure premium - Answer-money collected from insured exposure - Answer-possibility of a loss retention - Answer-agreement to be able to retain a part of a loss avoidance - Answer-keeping away ...

risk - Answer-Uncertainty concerning the occurrence of a loss Exposure - Answer-what the insured is exposing to the insurer to premium calculations - Answer-the higher the risk is, the greater the premium Speculative Risk - Answer-a risk in which there is a chance of either loss or gain pure risk - Answer-is insurable. it is when you can only lose, not win. ARRTS - Answer-Avoid, Reduce, Retain, Transfer, share Deductible - Answer-An amount the insured must pay before benefits become payabl...

Automobile Insurance - Answer-A contract between two parties... the policyholder and the company. Agent - Answer-Licensed individual or organization authorized to sell/service insurance policies. License - Answer-Certificate of authority to transact insurance buisness. Insured - Answer-The policy-holder entitled to covered benefits in case of an accident or loss. Insurer - Answer-The insurance company who issues the insurance and agrees to pay for losses and provide covered benefits. Quota...

Fred Loya Insurance Exam Questions And Answers (Verified And Updated) risk - answerUncertainty concerning the occurrence of a loss Exposure - answerwhat the insured is exposing to the insurer to premium calculations - answerthe higher the risk is, the greater the premium Speculative Risk - answera risk in which there is a chance of either loss or gain pure risk - answeris insurable. it is when you can only lose, not win. ARRTS - answerAvoid, Reduce, Retain, Transfer, share Deductible - a...

Fred Loya Insurance Exam Questions With Verified Answers Pure Risk - answerNo possible gain risk - answerThe certainty of a future outcome Speculative Risk - answerInvolves gain or loss Peril - answerThe cause of a loss Ex; accident, fire wind ,hail,collison Hazard - answerincrease possibility of a loss Loss - answerchance of loss because of an exposure premium - answermoney collected from insured exposure - answerpossibility of a loss retention - answeragreement to be able to retain ...

Fred Loya Insurance Exam Questions And Answers (Verified And Updated) Automobile Insurance - answerA contract between two parties... the policyholder and the company. Agent - answerLicensed individual or organization authorized to sell/service insurance policies. License - answerCertificate of authority to transact insurance buisness. Insured - answerThe policy-holder entitled to covered benefits in case of an accident or loss. Insurer - answerThe insurance company who issues the insuran...

Fred Loya Insurance Questions With Verified Answers Personal injury protection (PIP) - answerCovers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - answerCovers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt...

Personal injury protection (PIP) - Answer-Covers in case of a car accident no matter who's at fault. It covers medical bills for you and your passenger's. It pays up to $2,500 for each person hurt in vehicle. Uninsured motorist (UM) - Answer-Covers in case you are involved in a car accident, the accident is the other persons fault and they DO NOT have insurance. You have coverage for your passengers and your vehicle. For one person hurt in your vehicle we pay up to $30,000 in medical bill...

Pure Risk - No possible gain risk - The certainty of a future outcome Speculative Risk - Involves gain or loss Peril - The cause of a loss Ex; accident, fire wind ,hail,collison Hazard - increase possibility of a loss