Fred loya test - Study guides, Class notes & Summaries

EXPRESSED AUTHORITY - Answer-The type of authority granted to an agent that is applied in writing or verbally IMPLIED AUTHORITY - Answer-Authority that is not expressed or written into the contract, but which the agent is assumed to have in order to transact the business of insurance for the principal. APPARENT ATHORITY - Answer-words and actions INSOLVENCY - Answer-the inability to the insurer to pay debts when they are due INSURER - Answer-insurance company INSURED - Answer-A person cov...

2024 FRED LOYA PRACTICE TEST (106 QUESTIONS), LIMITED LINES EXAM.

f an agent, while selling a policy tells the prospect he is fully covered and everything will be taken care of, when this is not the fact, the agent is guilty of - Misrepresentation What would NOT be an unfair claim practice? - Using an arbitrator to resolve a dispute. A homeowner discovers that a valuable painting was stolen from her home, what type of loss would this be considered? - Direct loss An example of a peril would be - A fire that damages the kitchen of a home. What part of the ...

fred loya test with complete solution

1. Company benefits - We are the actual company not an agency 2. Company benefits - We have an in-house claims department 3. Company benefits - We are open from 9am to 7pm Monday to Friday and Saturday from 9am to 2 pm 4. Company benefits - We have fast and friendly service as well as bilingual agents to better serve you

Fred Loya Limited Lines State Test with complete solution

2024 FRED LOYA PRACTICE TEST (106 QUESTIONS), LIMITED LINES EXAM.

Fred Loya Limited Lines State Test Questions With Verified Answers What course of action does a party to a contract have if the other party is found to be in breach of that contract? - answerDamages for breach, reasonable attorney fees, and costs. A representation in an insurance contract qualifies as of the following? -an amendment -an expressed warranty -a policy provision -an implied warranty - answerimplied warranty What does it mean if an agent's license is inactive? - answerthe a...

Fred Loya Practice Test (106 questions)

Fred Loya Limited Lines State Test Questions With Verified Answers What course of action does a party to a contract have if the other party is found to be in breach of that contract? - answerDamages for breach, reasonable attorney fees, and costs. A representation in an insurance contract qualifies as of the following? -an amendment -an expressed warranty -a policy provision -an implied warranty - answerimplied warranty What does it mean if an agent's license is inactive? - answerthe a...