State Farm|Test Solutions 100% Verified
State Farm Which must have an appointment? Consultant/producer/insured ANS- Producer Define Pure Risk ANS- Chance of loss with no possibility of gain The Law of Large Numbers says? ANS- Losses become more predictable as the number of insureds increases A broker represents? ANS- Insured A Producer Represents? ANS- Insurer Insurance is regulated at which level? State or Federal ANS- State A peril is? ANS- Cause of loss Limit of liability is? ANS- Maximum policy will pay for a loss All - Risk ANS- Covers all perils but those listed in exclusions What is a Hazard? ANS- Any factor that increases the chance of a loss occurring What is a; rider, endorsement or extension? ANS- An addition to the policy
Información del documento
- Subido en
- 20 de julio de 2023
- Número de páginas
- 8
- Escrito en
- 2022/2023
- Tipo
- Examen
- Contiene
- Preguntas y respuestas