Ohio property and casua - Study guides, Class notes & Summaries

Ohio Property and Casualty Exam Questions & Answers 2023-24 What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...

Ohio Property and Casualty Insurance Exam Questions and Answers Updated 2024 (Rated 100%) Financial Responsibility Law: drivers have proof that they have money to pay for accident where they are at fault 2. fraud: lie planned to trick others and make it leave other value 3. insolvency: you can't pay your claim 4. mine subsidence: damage to house (only) by cave in collapse of mine 5. negotiate: talk with prospective client of set type of insurance about their benefits 6. to negotiate you mu...

Ohio Property and Casualty Insurance Exam | Questions and Answers | Updated 2023 Rated 100%. what happens if you get a cease and desist: you must stop business and have hearing 29. how much is fine if you dont listen to cease and desist: 10,000 30. work without a license, what is fine?: 25-500, prison up to 6 months 31. unauthorized company fine?: 25-500, 6 months jail 32. violate rules: 25-500, 1 year jail time 33. if you don't file proper insurance documents?: 100-500 dollar fine 34. ...

Ohio Property and Casualty Insurance Exam

OHIO PROPERTY AND CASUALTY INSURANCE EXAM

What do individuals use to transfer their risk of loss to a larger group? CORRECT ANSWER Insurance What are the four elements of an insurance contract? CORRECT ANSWER Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? CORRECT ANSWER Insurer Insurance contracts are aleatory in nature. What does that mean? CORRECT ANSWER Unequal values are exchanged between the parties to a contract. ...

Ohio Property and Casualty Insurance Exam with Complete Solutions 1. Financial Responsibility Law drivers have proof that they have money to pay for accident where they are at fault 2. fraud lie planned to trick others and make it leave other value 3. insolvency you can't pay your claim 4. mine subsidence damage to house (only) by cave in col- lapse of min

Ohio Property and Casualty Insurance Exam Graded A+ 2023

Ohio Property and Casualty Test 2023/2024 Graded A+

Ohio Property and Casualty Exam with Complete Solutions