Insurance Exam FX -questions with correct
answers
Accelerated benefits - ...,.🔹VERIFIED ANSWER **✔✔riders
attached to life insurance policies which allow death benefits to be
used to cover nursing or convalescent home expenses
accident - ...,.🔹VERIFIED ANSWER **✔✔an unplanned,
unforeseen event which occurs suddenly at an unspecified place
Accidental Death and Dismemberment - ...,.🔹VERIFIED
ANSWER **✔✔an insurance policy which pays a specified amount
or a specified multiple of the insured's benefits if the insured dies,
loses sight, or loses two limbs
accidental death benefits - ...,.🔹VERIFIED ANSWER **✔✔a
policy rider that states that the cause of death will be analyzed to
determine if it complies with the policy description of accidental
death
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,accumulation period - ...,.🔹VERIFIED ANSWER **✔✔the time
over which the annuitant makes payments or investments in an
annuity, and when those payments earn interest tax deferred
actual cash value - ...,.🔹VERIFIED ANSWER **✔✔the required
amount to pay damages or for property loss
actual charge - ...,.🔹VERIFIED ANSWER **✔✔the amount a
physician or supplier actually bills for a particular service or supply
actuary - ...,.🔹VERIFIED ANSWER **✔✔a person trained in the
technical aspects of insurance and related fields, particularly in the
mathematics of insurance; a person who determines the
mathematical probability of loss
adhesion - ...,.🔹VERIFIED ANSWER **✔✔a contract offered on a
"take it or leave it" basis by an insurer, in which insured's options
are to accept or reject
adjustable life - ...,.🔹VERIFIED ANSWER **✔✔life insurance
which permits changes in the face amount, premium amount,
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, period of protection, and the duration of the premium payment
period
adjuster - ...,.🔹VERIFIED ANSWER **✔✔a representative of an
insurance company who investigates and acts on the behalf of the
company to obtain agreements for the amount of the insurance
claim
administrator - ...,.🔹VERIFIED ANSWER **✔✔an individual
appointed by a court as a fiduciary to settle the financial affairs and
estate of a deceased person
adverse selection - ...,.🔹VERIFIED ANSWER **✔✔the tendency
of risks with higher probability of loss to purchase and maintain
insurance more often than the risks who present lower probability
agent - ...,.🔹VERIFIED ANSWER **✔✔an individual who is
licensed to sell, negotiate, or effet insurance contracts on behalf of
an insurer
aleatory - ...,.🔹VERIFIED ANSWER **✔✔a contract in which
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answers
Accelerated benefits - ...,.🔹VERIFIED ANSWER **✔✔riders
attached to life insurance policies which allow death benefits to be
used to cover nursing or convalescent home expenses
accident - ...,.🔹VERIFIED ANSWER **✔✔an unplanned,
unforeseen event which occurs suddenly at an unspecified place
Accidental Death and Dismemberment - ...,.🔹VERIFIED
ANSWER **✔✔an insurance policy which pays a specified amount
or a specified multiple of the insured's benefits if the insured dies,
loses sight, or loses two limbs
accidental death benefits - ...,.🔹VERIFIED ANSWER **✔✔a
policy rider that states that the cause of death will be analyzed to
determine if it complies with the policy description of accidental
death
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,accumulation period - ...,.🔹VERIFIED ANSWER **✔✔the time
over which the annuitant makes payments or investments in an
annuity, and when those payments earn interest tax deferred
actual cash value - ...,.🔹VERIFIED ANSWER **✔✔the required
amount to pay damages or for property loss
actual charge - ...,.🔹VERIFIED ANSWER **✔✔the amount a
physician or supplier actually bills for a particular service or supply
actuary - ...,.🔹VERIFIED ANSWER **✔✔a person trained in the
technical aspects of insurance and related fields, particularly in the
mathematics of insurance; a person who determines the
mathematical probability of loss
adhesion - ...,.🔹VERIFIED ANSWER **✔✔a contract offered on a
"take it or leave it" basis by an insurer, in which insured's options
are to accept or reject
adjustable life - ...,.🔹VERIFIED ANSWER **✔✔life insurance
which permits changes in the face amount, premium amount,
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, period of protection, and the duration of the premium payment
period
adjuster - ...,.🔹VERIFIED ANSWER **✔✔a representative of an
insurance company who investigates and acts on the behalf of the
company to obtain agreements for the amount of the insurance
claim
administrator - ...,.🔹VERIFIED ANSWER **✔✔an individual
appointed by a court as a fiduciary to settle the financial affairs and
estate of a deceased person
adverse selection - ...,.🔹VERIFIED ANSWER **✔✔the tendency
of risks with higher probability of loss to purchase and maintain
insurance more often than the risks who present lower probability
agent - ...,.🔹VERIFIED ANSWER **✔✔an individual who is
licensed to sell, negotiate, or effet insurance contracts on behalf of
an insurer
aleatory - ...,.🔹VERIFIED ANSWER **✔✔a contract in which
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