Insuring agreement Study guides, Class notes & Summaries
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Florida Public all lines adjuster questions and answers 100% correct
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Subordination Correct Answer: When the insured collets damages from his or her own insurance company and those damages were caused by negligent third-party, the insurance company steps into the shoes of the insured and is entitled to recover the damages actually paid to the insured from the negligent party 
 
liability insurance Correct Answer: Means that the payment by the insurance company will be made to a third-party injured or damaged by the insured. An insured can we never recover damage...
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Texas Life and Health Insurance Exam (question and answers) 2022/2023
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At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application 
 
Who elects the governing body of a mutual insurance company? - ANSWER policyholders 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act 
 
What type of reinsurance contract involves two companies automatically sharing their ri...
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NY Independent General Adjuster Exam - Series 17-70 (+180 Questions and Answers |Guarantee Pass
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NY Independent General Adjuster Exam - Series 17-70 (+180 Questions and Answers |Guarantee Pass 
Dram Shop Liability refers to: {{Correct Ans- Liquor Law Liability. 
 
The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? 
{{Correct Ans- Neglect. 
 
To be eligible for the New York assigned risk auto plan a person mus...
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WebCe - Commercial Lines 101 Exam Questions and Answers
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What is the underwriter's goal? - Answer- To write a book of business in which the actual losses approximate the expected losses. 
 
Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - Answer- Independent agency 
 
When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally ...
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WebCe - Commercial Lines 101 Questions and Answers 100% Correct!
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What is the underwriter's goal? - ANSWER-To write a book of business in which the actual losses approximate the expected losses. 
 
Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - ANSWER-Independent agency 
 
When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally co...
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Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed
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Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed 
Peril Something that causes a loss. 
Hazard Something that increases the probability that a loss will occur. 
Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. 
Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 
Concealment The fail...
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Texas Property & Casualty Insurance, Insurance Exam Questions And Answers
- Exam (elaborations) • 36 pages • 2024
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Texas Property & Casualty Insurance, Insurance Exam Questions And Answers 
 
 
Which part of an insurance policy describes the responsibilities and obligations of both the insurance company and the insured under the policy? - ANS Conditions 
 
The limits of liability are found in which of the following sections of a casualty policy? - ANS Declarations 
 
The _____ page in an insurance contract contains information about the risk, the effective date of coverage, deductible, premium amounts...
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NC LIFE insurance state exam questions and answers 100% pass
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NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. 
BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement 
INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...
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CIC Commercial Multiline Exam questions with correct answers
- Exam (elaborations) • 44 pages • 2023
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Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) CORRECT ANSWER-1. Provide additional limits that are excess over underlying limits of insurance 
2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 
3. Provide broader coverage than the exsiting underlying insurance 
 
excess liability coverage forms and commercial umbrella liability policy CORRECT ANSWER-1. follow forms 
- hella ...
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AD Banker Comprehensive Exam, Questions with accurate answers. 2022/2023. Rated A
- Exam (elaborations) • 141 pages • 2023
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AD Banker Comprehensive Exam, Questions with accurate answers. 2022/2023. Rated A 
 
 
A producer who is acting as an agent is representing: 
 
A 
The insured, the applicant and the beneficiary 
 
B 
Always the insured 
 
C 
The insured and the insurer 
 
D 
Always the insurer - D 
 
In order to be valid, a contract must be between individuals considered legally able to enter into an agreement. This principle is known as: 
 
A 
Restricted persons 
 
B 
Considerations 
 
C 
Competent parties 
 
D...
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