©THEBRIGHT EXAM SOLUTIONS
11/7/2024 12:35 PM
Alaska Property Insurance Exam Questions
With Correct Answers
An Insurance Binder may be issued for a maximum of how many days - answer✔90 days
An Insurance licensee may not enter into agreement to - answer✔Get a pay of commission or
compensation to a person or organization not licensed, and or anything of value example a
vacation or dinner.
The person responsible for firms adherence to the insurance statutes and regulations of Alaska
is? - answer✔A designated licensed officer or partner (Compliance officer)
Ocean Marine insurance differs from Inland marine insurance why? - answer✔If it's going
internationally, then it would be covered under ocean marine, if it's being shipped domestically,
then it would be inland marine.
An Insurance company must assume which of the following responsibilities to terminate a
producers license appointment for cause - answer✔A notice of termination that states the
reasons must be mailed at least 10 days before eff. Of termination
The portion of the insurance policy listing company promises is - answer✔The insuring
agreement
An insurance RISK can best be described as - answer✔When a person purchases insurance, the
risks he might face include storm damage, fire, theft or car accident
The named insured is listed in which sections of the property policy? - answer✔The
declarations section
What is Direct Loss? - answer✔Living room furniture destroyed in a fire originating in a kitchen
is a direct loss.
Define Twisting - answer✔Illegal activity in which an agent convinces a prospect to cancel
existing insurance and buy another policy from the agent to detriment of the prospect
11/7/2024 12:35 PM
Alaska Property Insurance Exam Questions
With Correct Answers
An Insurance Binder may be issued for a maximum of how many days - answer✔90 days
An Insurance licensee may not enter into agreement to - answer✔Get a pay of commission or
compensation to a person or organization not licensed, and or anything of value example a
vacation or dinner.
The person responsible for firms adherence to the insurance statutes and regulations of Alaska
is? - answer✔A designated licensed officer or partner (Compliance officer)
Ocean Marine insurance differs from Inland marine insurance why? - answer✔If it's going
internationally, then it would be covered under ocean marine, if it's being shipped domestically,
then it would be inland marine.
An Insurance company must assume which of the following responsibilities to terminate a
producers license appointment for cause - answer✔A notice of termination that states the
reasons must be mailed at least 10 days before eff. Of termination
The portion of the insurance policy listing company promises is - answer✔The insuring
agreement
An insurance RISK can best be described as - answer✔When a person purchases insurance, the
risks he might face include storm damage, fire, theft or car accident
The named insured is listed in which sections of the property policy? - answer✔The
declarations section
What is Direct Loss? - answer✔Living room furniture destroyed in a fire originating in a kitchen
is a direct loss.
Define Twisting - answer✔Illegal activity in which an agent convinces a prospect to cancel
existing insurance and buy another policy from the agent to detriment of the prospect
