1. Insurance Answer: Transfers risk of loss from the insured to the company 2. Insurance Interest Answer: Financial interest in having the life of the insured continued 3. Foreign Insurance Company Answer: An insurance company that is incorporated out- sid...
1. Qualified Plan Answer: -approved by IRS for favorable tax treatment - tax deffered growth 2. Qualified PlanRequirements Answer: 1) Be in writing 2)provided for benefit of employee 3) must satisfy age and serive standards 4) cannot be discriminatory 5) c...
1. Health Insurance Answer: offset risk of disability or prolonged illness 2. 2 ways to purchase health insurance Answer: group plan & individual plan 3. 2 perils of health insurance Answer: sickness & accident 4. 2 kinds of losses in health insurance Answ...
1. In which of the following cases would a credit disability policy be issued? Answer: Ifan individual is in debt to a specific creditor, payments will be made for him/her untilthe return to work 2. An insurer hires a representative to advertise its compan...
1. Group Insurance Answer: - the employer is the owner and receives the master contract - the employees are certificate holders which outlines the details of it - underwriting is much more liberal because its a large group and probably wont have adverse s...
1. Sally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later d...
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Document uploaden1. Health Insurance Answer: A general way of describing insurance against loss through sickness or accidental bodily injury.This term applies to many different types of insurance, not just medical that pays for doctor and hospital visits. Examples: - Acc...
1. Risk Answer: chance of loss 2. speculative risk Answer: -involves the chance of gain or loss and is NOT insurable -ex: gambling 3. pure risk Answer: involves only the chance of loss and is insurable 4. exposure Answer: being subject to the possibility o...
How much time should elapse between 3rd and 1st meal? (Ans- Not more than 15 hours In order to obtain an Emergency Approval to Operate (EAO), in the event of the death of the licensee, how much time does the designee have to notify the department that sh...
REAL Texas Adjuster Study Guide2023- 2024/ 367 QUESTIONS AND ANSWERS 1. perils: a cause of property losses under an insurance con- tract ex: windstorm, hurricane, explosion, collapse of build- ing, vandalism, accidental discharge, and theft 2. law of large...