What is peril - Study guides, Class notes & Summaries

Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) Answers>>Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered Answers&g...

Insurance Customer Service Rep 440 Exam Review questions and answers graded A+. Examples of Peril - correct answers.Fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, mischief or vandalism, or the sinking, burning, collision or derailment of a conveying transport. How long does one have to notify the Department of Financial Services for a Name and/or Address Change? - correct answers.30 days Coinsurance Clause - correct answers.Replacement cost appl...

PA Motor Vehicle Physical Damage Appraiser - Practice Exam 100+ questions correctly answered & verified True or False: Each appraiser, while engaged in appraisal duties, must carry his/her appraiser's license & display it to an owner of the vehicle or shop upon request: - ANSWER true What are the number of business days you have per Act 361 to inspect vehicle? - ANSWER 6 How many days after an inspection should a total loss be offered to the owner? - ANSWER 5 Aftermarket parts...

PA Appraiser Licensing Exam (2023-2024 Update)- Questions & Answers (Graded A+) PA Appraiser Licensing Exam (2023-2024 Update)- Questions & Answers (Graded A+) What are the number of business days you have per Act 361 to inspect a vehicle? - ANSWER - 6 How many days after an inspection should a total loss be offered to the owner? - ANSWER - 5 Aftermarket parts can only be used when? - ANSWER - The parts are listed and coded in the estimate Aftermarket - ANSWER - Nonoriginal equipmen...

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...

Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss correct answersConsequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center pillar The trunk floor The quarter panels The frame rails correct answersTh...

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....

Utah Health and Life Insurance Exam Questions and Answers Already Passed Under a Modified Endowment Contract, what are the likely tax consequences? Pre Death Distributions will become taxable Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in? Accumulation period If threats or force is used to affect an insurance transaction, the unfair trade practice of _________ has been committed. Coercion A whole life policy option...

Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 ACTUAL EXAM 500 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - CORRECT ANSWER insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to the insured that the policy has be...

CPCU 530 II Exam Questions with Correct Answers What is an insurance contract? - Answer-A contract where the policyholder pays premiums and the insurer promises to cover losses. What are the five main parts of a common insurance contract? - Answer-Declarations page, definitions section, insuring agreement, exclusions, and conditions. What information is included in the declarations page of an insurance contract? - Answer-Address of insured property, deductibles, description of insured pro...

Which of the following statements is NOT TRUE regarding the "Extended Period of Indemnity" option of the Business Income form? - ANSWER-The coverage applies for 120 days following the period of restoration When a Hawaii employee sustains an injury requiring medical treatment beyond first aid, how long does the employer have to report the accident to the Director of Labor and Industry relations? - ANSWER-7 working days After paying a claim an insurance company may have the right to pursue...

FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) PROTECT & ENHANCE the assets of an organization - ANSWER - What is the primary jobs/functions of the chief risk manager? peril - ANSWER - a cause of loss insurance - ANSWER - a mechanism of risk transfer hazard - ANSWER - anything that increases the probability of or severity of a loss physical hazard - ANSWER - a literal obstac...