Sc insurance licensing - Study guides, Class notes & Summaries
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SC Insurance Licensing Key Exam Questions And Correct Answers 2024
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Mechanical failure including rupture/bursting caused by centrifugal force 
(In an equipment breakdown policy, "breakdown" has very specific definitions of a direct 
covered loss such as failure of pressure/vaccuum equipment, mechanical failure by 
centrifugal force and electric failure [unless excluded])Which of the following is found 
under the definition of a "Breakdown" under an Equipment Breakdown Policy? 
a. Mechanical failure including rupture/bursting caused by centrifugal force 
b...
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SC Insurance Licensing Exam Questions with complete solutions
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Mechanical failure including rupture/bursting caused by centrifugal force 
 
(In an equipment breakdown policy, "breakdown" has very specific definitions of a direct covered loss such as failure of pressure/vaccuum equipment, mechanical failure by centrifugal force and electric failure [unless excluded]) - ANSWER-Which of the following is found under the definition of a "Breakdown" under an Equipment Breakdown Policy? 
 
a. Mechanical failure including rupture/bursting caused by centrifugal ...
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SC Insurance Licensing Top Common Tested Exam Questions And Correct Answers
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RiskIs the possibility that a loss will occur. 
InsuranceIs a contract that transfers the risk of financial loss from a individual or 
business to an insurance company 
Speculative riskA possibility of loss and gain. Insurance does not cover this. 
Pure riska risk that presents the chance of loss but no opportunity for gain 
Exposurethe potential for accidents and other losses 
UnderwritersInsurance companies use to determine premium rates and decide whether 
or not they will offer insurance
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SC Insurance Brokers Exam Questions & Answers 100% Correct
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Resident Licensing Requirements - ANSWERS1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
Nonresident Licensing Requirements - ANSWERS1. File application on form prescribed by the director. 
2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to opera...
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SC Insurance Brokers Exam Questions & Answers 100% accurate
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SC Insurance Brokers Exam Questions & Answers 100% accurate 
 
Resident Licensing Requirements - ANSWERS1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
Nonresident Licensing Requirements - ANSWERS1. File application on form prescribed by the director. 
2. File affidavit stating insurance on a risk in this state will on...
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SC Insurance Brokers Exam Surplus Lines Insurance Broker - Series 19-26 Questions With 100% Verified Answers
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©BRAINBARTER 2024/2025 
SC Insurance Brokers Exam Surplus Lines 
Insurance Broker - Series 19-26 Questions 
With 100% Verified Answers 
Resident Licensing Requirements - answer1. Be licensed as a resident property and casualty 
insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
Nonresident Licensing Requirements - answer1. File application on form prescribed by the 
direct...
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SC Insurance Brokers Exam Questions & Answers 100% Correct!
- Exam (elaborations) • 9 pages • 2024
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Resident Licensing Requirements - ANSWERS1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
Nonresident Licensing Requirements - ANSWERS1. File application on form prescribed by the director. 
2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to opera...
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NASCLA Business Law and Management EXAM SC Latest Update Graded A+
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NASCLA Business Law and Management EXAM SC Latest Update Graded A+ Sole Proprietorship a business owned and managed by a single individual Simplest form to set up unlimited Liability 
Partnerships Business organizations in which two or more persons share responsibilities, costs, profits, and losses. 
C Corporations Corporations that have no restrictions on who owns their shares or the number of shareholders; they cannot qualify for subchapter S tax treatment and are subject to direct taxation 
S...
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SC Life Insurance Exam Questions and Answers 100% Pass
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SC Life Insurance Exam Questions and 
 
Answers 100% Pass 
 
If a policy has a automatic loan provision, what happens if the insured dies before the loan is 
paid back? The balance of the loan will be taken out of the death benefit 
 
An insurer receives a report regarding potential insured that includes financial status, hobbies, 
and habits. What type of report is that? Inspection Report 
 
The clause that protects the proceeds of a life insurance policy from creditors after the death of 
the ...
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SC Insurance Brokers Exam Surplus Lines Insurance Broker - Series 19-26 Questions and Answers
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Resident Licensing Requirements 
o :## 1. Be licensed as a resident property and casualty insurance producer. 
o 2. Pass the SC broker licensing examination with 70% or better. 
o 3. Pay a biennial fee of $200 
o 4. File surety bond in favor of SC in amount of $10,000. 
Nonresident Licensing Requirements 
o :## 1. File application on form prescribed by the director. 
o 2. File affidavit stating insurance on a risk in this state will only be placed with 
licensed agents of insurers licensed to o...
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