Subrogation Study guides, Revision notes & Summaries

AD Banker Property and Casualty Comprehensive Exam Questions (Answered). Rated A. 2022/2023. Temporary Total Disability may be described as: - Inability to return to any employment while recovering Supplementary Payment under Part A of the Personal Auto Policy? - A Up to $250 for the cost of bail bonds B Payment for lost earnings up to $200/day C Medical payments for an occupant of an insured vehicle (Not included)(*) D Reasonable expenses incurred at the insurer's request The Com...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

What are the reasons for investigating fires? - Correct Answer-To eliminate reoccurrence Upgrade existing fire codes Determine if a criminal act took place What is NFPA 921 - Correct Answer-Guide for Fire and Explosion Investigations What is NFPA 1033 - Correct Answer-Standards for Professional Qualifications for Fire Investigation What is NIST? - Correct Answer-National Institute of Standards and Technology What is CCAI? - Correct Answer-California Conference of Arson Investigator...

Certified Fire Investigator Exam What are the reasons for investigating fires? - ANSWER To eliminate reoccurrence Upgrade existing fire codes Determine if a criminal act took place What is NFPA 921 - ANSWER Guide for Fire and Explosion Investigations What is NFPA 1033 - ANSWER ...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

1. To "Bind a Risk" means: a. Having authority from the Insurer to put insurance in force b. Finding a company willing to give a quote on a risk c. Getting underwriting information from a client d. Automatically renewing an existing policy - a. Having authority from the Insurer to put insurance in force "Subrogation"d means: a. The right of the insurance company to recover payments made under the policy from another person who is legally responsible for the loss b. The amount of the...

The larger the number of people with a similar exposure to loss, the more predictable actual losses will be. Law of Large Numbers Transfers the risk of loss from an individual or business entity to an insurance company Insurance 1) Financial 2) Blood (relative) 3) Business The three elements of insurable risk are The uncertainty or chance of a loss occurring Risk 1) Pure risk 2) Speculative risk Types of risks are Pure risk What type of risk does insuranc...

Insurance level 1 Alberta exam Questions with Verified Solutions The philosophy behind insurance is to a) provide a vehicle through which wealthy individuals and corporations may protect their property against catastrophic loss b)allow insurers to grow larger and more stable, thus creating jobs and supporting the economy c) spread the losses of the few amongst the premiums of the many d) spread the losses of the many amongst the premiums of the few spread the losses of the few amongst ...

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement...

1. Which one of the following steps should be taken first in a risk management program? A. Purchasing of adequate insurance B. Conducting of employee safety drills C. Identifying hazards and risks D. Conducting staff in-services on incident reporting and accident prevention. - ANSWER-C. Identifying hazards and risks 2. Which of the following professionals is authorized to dispense medications? A. registered nurse B. licensed nurse, physician and, in some states, medication aide. ...