Insurance transfers - Study guides, Class notes & Summaries

Question 2 Not yet answered Marked out of 1.00 Flag question Question text The following information was obtained from the accounting records of SA Attorneys: On 1 April 2022, A South, a client of the practice, handed a cheque to the amount of R100 000 to Mr Africa and requested him to invest the money in a fixed deposit account at ABC Bank until the money is paid over for a property transaction. Which one of the following statements is incorrect for the above type of investment? Select one:...

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Property and Casualty License in ArkansasWhat is Insurance? - correct answer Transfers the risk of loss from individual to insurance co. What is Risk? - correct answer Chance of loss occurring What are 3 types of Hazards? - correct answer Physical, Moral, Morale What is a Peril? - correct answer Causes of loss insured against What does Indemnify mean? - correct answer Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - correct an...

KENTUCKY ADJUSTER EXAM PREP EXAM QUESTIONS WITH COMPLETE VERIFIED ANSWERS LATEST UPDATES Insurance Transfers risk of financial losses from one party to another Insured Individual or organization that pays premiums in exchange for protection Insurer Company, group, or government agency offering financial protection Insurance policy A legally binding contract in which the insurer agrees to take on specified risks in exchange for the insured's premium. Principle of indemnity Restoration ...

Test Bank For Dynamic Business Law, 6th Edition By Nancy Kubasek. Chapter 1: An Introduction to Dynamic Business Law Chapter 2: Business Ethics Chapter 3: The US Legal System Chapter 4: Alternative Dispute Resolution Chapter 5: Constitutional Principles Chapter 6: International and Comparative Law Chapter 7: Crime and the Business Community Chapter 8: Tort Law Chapter 9: Negligence and Strict Liability Chapter 10: Product Liability Chapter 11: Liability of Accountants and Other Professionals Cha...

Types of Stakeholders - ANSWER managers and employees customers insurers vendors industry associations government Transfer - ANSWER Insurance: transfer of financial consequence to an insurance company Non Insurance: when a customer transfers financial consequences to another by contract or agreement Retention - ANSWER Active: when a customer knows before the loss that they are responsible for all or part of the loss Passive: Whoops! when a client finds out after a loss occurs that ...

Colorado Car Sales Mastery Exam Questions and Verified Answers Latest Updated 2024 (GRADED) The license of a motor vehicle salesperson or power-sports salesperson may be denied, revoked or suspended on any of the following grounds except: b) advertising a salvaged vehicle while identifying the vehicle as a salvage vehicle According to colorado law, which of the following must be licensed as a motor vehicle dealer and or powersports dealer? d) All of the above Colorado Lemon law covers: c)...

A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - 60 Payments What distinguishes a deferred annuity from an immediate annuity? - The time at which benefit payments start The systematic liquidation of a sum of money...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

What is insurance? correct answer: Insurance transfers the risk of loss from an individual or business entity to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. What is risk? correct answer: Risk is the uncertainty or chance of a loss occurring. What is peril? correct answer: Perils are the causes of loss insured against in an insurance policy. What are the elements of insurable risk? correct answer: Loss must be 1. due to chance 2....

Test Bank For Basic Geriatric Nursing 8th Edition by Patricia A. Williams 2023/2024 Chapter 1-20 PLUS Nclex Case Studies with Answers | All Chapters. Chapter 01: Trends and Issues Williams: Basic Geriatric Nursing 8th Edition MULTIPLE CHOICE 1. Which fact explains the shift of health care focus toward the older adult in the late 1960s? a. Disability was viewed as unavoidable. b. Complications from disease increased mortality. c. Older adults’ needs are similar to those of all adults. d....