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USAA Licensing Exam Questions & 100% Correct Answers | Latest Update | Graded A+

Insurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Binder - Temporary insurance contr...

USAA P&C Insurance Adjuster EXAM QUESTIONS CORRECTLY ANSWERED Perils - ANSWER Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard - ANSWER Condition that create or increases the chance or loss or contributes to the loss Physical Hazard - ANSWER Visible ( operational features of a risk) Moral Hazard - ANSWER Intentional dishonesty or illegal actions of a person (arson) Morale Hazard - ANSWER Carelessness or indifference ( attitud...

USAA Licensing Exam Latest Update Graded A+ Insurance Transfer of risk from one person or organization to an insurance company Indemnity The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty in...

USAA Test Questions and Answers Already Passed What type of reinsurance contract involves two companies automatically sharing their risk exposure? treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a risk retention group What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained? Fair Credit Reporting Act The stated amount or percent ...

New York USAA Exam Review With 100% Correct Answers 2024

USAA Test Questions and Answers 100% Accurate USAA Test Questions and Answers 100% Accurate USAA Test Questions and Answers 100% Accurate USAA Test Questions and Answers 100% Accurate What type of reinsurance contract involves two companies automatically sharing their risk exposure? - ANSWER-treaty A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - ANSWER-risk retention group What is the name of the law tha...