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USAA Licensing Exam Questions and Correct Answers

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USAA Licensing Exam Questions and Correct Answers Law of Large numbers - Answer-Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Answer-Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Risk - Answer-Chance of loss; uncertainty of loss Speculative Risk - Answer-Involves the simultaneous chance of gain or loss: is not insurable Pure Ri...

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USAA Licensing Exam Questions and Answers All Correct

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

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USAA Exam Questions with Correct Answers (1)

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USAA Exam Questions with Correct Answers (1) 3 basic steps of claims investigation - Answer-verifying insurance coverage obtain additional information about the claim verify and compare this information what are the 3 types of claim reports - Answer-initial for first field -( 24hrs to 7 days( interim or status report - (15-30 days informed) full formal report what are the 2 methods to making estimates for claims - Answer-Time and Material method Unit cost method In Texas, the signed...

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USAA Chapter 2 Test Questions with Complete Solutions (2)

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USAA Chapter 2 Test Questions with Complete Solutions (2) Agent - Answer-One who recieves the authority to act on behalf of someone else. What does it mean that the agent has authrotity to bind? - Answer-The agent should take the utmost care with his words and actions because the insurer may have to live with the agents decisions and mistakes. What are the three major responsibilities of contracted agents? - Answer-Adhree to or follow the contract, use resonable judgement and care at ...

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USAA Auto Insurance Terms with Complete Solutions (1)

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USAA Auto Insurance Terms with Complete Solutions (1) Terrorism Risk Insurance Act (TRIA) - Answer-In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen - Answer-In 2005 legislation was modified and coverage was extended by the Terrorism Risk Insurance Extension Act FCRA- when, what, and what it stands for - Answer-In 1970 the Fai...

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USAA API STUDY GUIDE QUESTIONS AND CORRECT ANSWERS (1)

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USAA API STUDY GUIDE QUESTIONS AND CORRECT ANSWERS (1) Describe what happened in the case of Paul vs. Virginia. Include proximate dates and court decisions. - Answer-This was the first case to regulate insurance. Paul challenged the right of the state to regulate insurance by refusing to obtain a license from the state. When he continued to sell insurance w/o a license, he was arrested and fined $50. The case went all the way to Supreme Court and was finally decided in 1869, that insurance wa...

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U1 UST Installation Retrofitting Exam Questions and Correct Answers

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U1 UST Installation Retrofitting Exam Questions and Correct Answers 1. One of the significant causes of leaks in underground liquid storage systems is - Answer-Improper Installation 2. Written Plans are required to - Answer-obtain permits, solicit bids, and provide precise guidance for installers. 3. The plans should - Answer-Describe the property, identify the size and location of the tanks, indicate the liquids to be stored and provide the location of the dispensers and piping. ...

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TCEQ WW C License Exam Questions with Correct Answers (1)

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TCEQ WW C License Exam Questions with Correct Answers (1) Two Categories of Water Contamination - Answer-point and non-point source Accidental Discharge must notify TCEQ within - Answer-24 hours Fresh Wastewater is usually - Answer-dishwasher gray with slight odor Septic Wastewater is usually - Answer-Dark with a disagreeable odor PH scale ranges from - Answer-0-14 BOD stands for - Answer-Biochemical Oxygen Demand Primary causes of stoppage are - Answer-roots and grease M...

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TCEQ Waste Management Definitions Exam

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TCEQ Waste Management Definitions Exam 100-year flood - Answer-A flood that has a 1.0% or greater chance of recurring in any given year or a flood of a magnitude equaled or exceeded once in 100 year son the average over a significantly long period. Active disposal area - Answer-All landfill working faces and areas covered with daily and alternatively daily cover Active life - Answer-the period of operations beginning wit the initial receipt of solid waste and ending at certification/com...

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TCEQ Study Guide Questions with Correct Answers

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TCEQ Study Guide Questions with Correct Answers What is irrigation? - Answer-And assembly of component parts permanently installed for the control distribution and conservation of water for the purpose of irrigation any type of landscape vegetation in any location or for the purpose of reduction or erosion control Explain the difference between commercial and institutional irrigation? - Answer-A Commercial irrigation system is installed two and a hamster appearance on a site that is commonly...

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