A PACKAGE DEAL FOR AD Banker Property and Casualty Comprehensive Exam 2023 with 100% correct answers

Which insurer's owner receives taxable corporate dividends as a return of profit? Stock To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: Reinsure the risk The direct writing distribution model utilizes: Salaried ...

Dividends if declared are paid: A. Annually B. Semi-annually C. Monthly D. Quarterly A. Annually An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the policy? ...

Legally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. Fiduciary It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. State Insurance Commissi...

John is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? A. ABC Insurance B. None C. John D. Jane A. ABC Insurance In an insurance contract the value that each party gives the other is said to be the: A. Subject matter B. Considerat...

Which of the following is not covered with Medicare Part A? A. Semiprivate hospital room B. General nursing and hospital services C. Post hospital skilled nursing care D. Outpatient hospital care D. Outpatient hospital care All of the following are true of insurance in general, except: ...

An employer may require a former employee who has COBRA coverage to pay up to _____% of the premium. 102 Accidental Injury is a: Sudden, unexpected and unforeseen event Albert owned a $100,000 policy that had accumulated a cash value of $20,000, against which he had borrowed $10,000....

5 months The waiting period from the start of a disability to be eligible to apply for Social Security disability is: Nonoccupational Basis Most group Disability Income contracts are offered on a(n): Dental expense insurance deductibles are normally waived for all of the following, e...

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 a...

Which rating method listed below is established by the underwriter? A. Manual rating B. Retrospective rating C. Individual rating D. Judgment rating D. Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by the actuarial de...

A and B are married. They have two minor age children. A and B feel that all family members should have coverage on their lives, not just A. What would be the least expensive way to accomplish this? A Add accidental death coverage riders on B and the two children B Buy a traditional whole life p...

Exclusive remedy means that: Employees covered by Workers' Compensation insurance cannot sue for work-related injury What is the purpose of an Umbrella Liability Policy? To cover large and catastrophic losses Neither the Computer Fraud nor Funds Transfer Fraud forms cover which of t...

Requires the insured to pay premiums for life and endows at 100. A Whole Life Policy: Total permanent disability To waive an insured's premium, most companies require an individual's disability to be: 24 A producer licensed for property and casualty must complete at least ________...