Non insuran Study guides, Class notes & Summaries

Life, Accident and Health Insurance Ohio Questions and Answers (2024 / 2025) (Verified Answers) Which is a FALSE statement? a. Agents act in a fiduciary capacity when handling premiums. b. Misrepresentation on an application can void coverage, if material. c. Mutual life insurers cannot guarantee their future dividend scale. d. You can protect future dividends on a non-participating policy. - CORRECT ANSWER D. Only participating policies might pay dividends to policy owners. Stock ...

Final Exam - California Life Only Questions and Answers 100% Pass According to the California Insurance Code, what is "insurance"? - Correct Answer ️️ - A contract Which of these statements correctly describes risk? - Correct Answer ️️ -Pure risk is the only insurable risk Only pure risks are insurable Which of the following does NOT have to be included on life insurance policy illustrations? - Correct Answer ️️ -Statement that all values and benefits are guaranteed An ag...

Property and Casualty Insurance Test Question Notes with 100% Correct Answers What is a peril? - Correct Answer ️️ -A Peril is a cause of loss What is a hazard? - Correct Answer ️️ -Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Correct Answer ️️ -Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Correct Answer ️️ - Re...

Which of these is a TRUE statement regarding the regulatory authority of the DIrector? A.) The Director may mandate the financial restructuring of insolvent producers B.) The Director may levy fines on policy applications to defray operating costs C.) The Director may establish guidelines for continuing education as a part of the producer's license renewal procedure D.) The Director may require adjacent states to adopt reciprocal agreements for non resident producer's licenses -ANSWER C.) ...

A group conversion option may be used in all the following instances EXCEPT - ANSWER-a life-changing event, such as marriage, divorce, or childbirth. Which is the primary purpose of Health Reimbursement Accounts (HRAs)? - ANSWER-To assist covered employees with the payment of medical expenses on a high deductible plan funded through pre-tax contributions. All of the following are characteristics of variable whole life EXCEPT - ANSWER-there is no guaranteed minimum death benefit. When sh...

PSI Practice Test 2024 Questions and Answers In the previous year, a company had revenues of $500,000, project overhead of $40,000 and company overhead of $75,000. The company expects the percentage for project and company overhead to remain the same for the current year. The company desires to make a 10% profit on a project it is bidding. The project would have $80,000 in direct costs. What should the bid price be? - Answer ️️ -Between $110,000 and $120,000 Which of the following is c...

Risk Management Exam 2 (2024) || All Solutions 100% Correct Risk Management Exam 2 (2024) || All Solutions 100% Correct 3 Types of Risk Financing Options - ANSWER - 1. Risk Transfer 2. Risk retention 3. Alternative Risk Financing 4 Risk Financing Goals - ANSWER - 1. Pay for losses 2. Maintain appropriate liquidity level -avoid poor cash flow -maintain appropriate level of risk for the organization 3. Manage cost of risk 4. Compliance -legal or regulatory requirements Risk Tra...

PSI Life, Accident, and Health Practice Exam with complete solutions A group conversion option may be used in all the following instances EXCEPT - ANSWER-a life-changing event, such as marriage, divorce, or childbirth. Which is the primary purpose of Health Reimbursement Accounts (HRAs)? - ANSWERTo assist covered employees with the payment of medical expenses on a high deductible plan funded through pre-tax contributions. All of the following are characteristics of variable whole life ...

Public Law One As head of the HCMO, you have now completed your overseas mission and are within five days of re-deployment back to the United States. What would be the most important action to take at this point? A. Submitting the Report of Medical Events B. Submitting unit rosters and locations C. Using the Risk Assessment Matrix Incorrect D. Using the Post-deployment Health Clinical Practice Guideline 2 You are part of the staff of a field or air-transportable hospital deploy to an ov...

What are the four main areas of configuration in a Guidewire application? - ANSWER 1. User Interface 2. Data Model 3. Application Logic 4. Integration What are some of the technologies used in InsuranceSuite applications? - ANSWER Page Configuration Format (PCF) files Gosu (programming language) What are some reasons for a non-developer to understand the technology stack? - ANSWER To determine what data is stored and if new requirements need additional data elements. To know ...