Indemnification - Study guides, Class notes & Summaries

ADJUSTERPRO FINAL EXAM 2024 LATEST QUESTIONS AND VERIFIED ANSWERS BY EXPERT 100% GUARANTEED PASS -+What is a reserve, in insurance terms? A pool of collected premiums that the insurer sets aside to pay claims Which of these scenarios is NOT an example of indemnification? When trying to renew her dog's license, Ellen has to pay a penalty to the city for letting its rabies vaccination lapse. Ellen having to pay a fine is not an example of indemnification. Indemnification means being restore...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged or...

RRLLB81 Assignment 3 (Portfolio) Semester 2 2024 | Due 8 November 2024. All questions answered. Declaration of Authenticity Page 4 Abstract Page 5 Keywords Page 5 List of Abbreviations and Acronyms Page 5 1.INTRODUCTION Page 6 1.1.Background to the Research Problem Page 6 1.2. Problem Statement Page 7 1.3. Research Question and Hypothesis Page 7 1.4. Purpose of the Research Page 7 1.5. Structure of the Report Page 8 2. THE NATURE AND SCOPE OF LIABILITY INSURANCE Page 8 2.1. The Concep...

The _____ method recognizes income when the employer has done the work but has not received the income. A. Accrual B. Appreciation C. Depreciation D. Cash correct answer: A. Accrual 13-7 A _____ bundles all cost factors for entire task. A. Lump sum B. Cost plus C. Percent completion method D. Unit price method correct answer: D. Unit price method 6-7 _____ requires paying prevailing wages in federally-financed projects. A. Service Contract Act B. Walsh-Healey Act C...

AdjusterPRO Final Exam Test Questions with Verified Answers What is a reserve, in insurance terms? - -A pool of collected premiums that the insurer sets aside to pay claims Which of these scenarios is NOT an example of indemnification? - -When trying to renew her dog's license, Ellen has to pay a penalty to the city for letting its rabies vaccination lapse. Ellen having to pay a fine is not an example of indemnification. Indemnification means being restored to the financial condition yo...

CA LIFE INSURANCE EXAM QUESTIONS AND ANSWERS LATEST J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurability. B: The insurer will allow J to add more insurance pending a paramedical exam. C: The insurer will deny J's request to add more insu...

Adjuster Pro Texas with Complete Questions and Answers 100% VerifiedAdjuster Pro Texas with Complete Questions and Answers 100% VerifiedAdjuster Pro Texas with Complete Questions and Answers 100% VerifiedAdjuster Pro Texas with Complete Questions and Answers 100% Verified All of the following pieces of information can be found in the conditions section of an insurance policy EXCEPT: - ANSWER-Causes of loss that are not covered Which of the following best defines the principle of indemnity? -...

NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) Which section of an insurance policy contains language to assist an insurance company in managing morale and moral hazards - ANSWER - The exclusions The funds assessed to be deposited into the NY Special Disability Fund are deposited with? - ANSWER - The Commissioner of Taxation and Fin...

Life Insurance Exam Questions with correct Answers J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? . An insured has a policy with a Waiver of Premium rider. The insured has suffered an illness that will prevent them for working for two years. When will their premiums be waived? The clause that defines and describ...

Alabama AdjusterPro Exam for P&C with WC and Crop (2023) Alabama AdjusterPro Exam for P&C with WC and Crop (2023) 1: Incorrect Indemnification may include all of the following except: reimbursement for hotel costs. reimbursement for rental car costs. Answer Given payment for repairs to property. Actual Answer payment for pain and suffering. 2: Correct What is a reserve, in insurance terms? The amount of revenue that the insurer sets aside to pay employee s...