Idaho Insurance – Property (Well-enlightened)
The three ratios/components to a book of business are correct answers loss ratio, expense ration, combined ratio what is the purpose of a rate correct answers premium determination Rate is based on correct answers exposures Which of the following would satisfy the NFIP certification requirements correct answers 3 hour seminar, 3 hour flood certification Consideration correct answers money auto liability property damage would likely cover which correct answers insured backing up into the mailbox debris removal on a homeowners policy provides 5% of coverag, which claim falls within these parameters correct answers a tree falls into a covered shed due to a covered peril which of the following is part of the rateq correct answers losts costs, expenses, profit 3 parts of a Rate correct answers LEP - Losts costs, expenses , profits purpose of underwriting correct answers to protect against adverse selection Broker correct answers Appointed by multiple insurance companies but represents customers/insured Law of Agency correct answers principal is the insurer and the agents/producer represents the principal Express authority correct answers writing in contract implied authority correct answers day to day duties that you can do Apparent Authority correct answers The appearance or the assumption of authority based on the actions, words, or deeds of the principal or because of circumstances the principal created. Duties a producer will perform in order to complete day to day activities correct answers implied when a producer is acting in the capacity of an agent there are using what type of authority correct answers apparent An insurance agent who is acting appropriately when dealing with insured is using which type of authority? correct answers Apparent
Document information
- Uploaded on
- December 7, 2023
- Number of pages
- 7
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers