Indirect loss Study guides, Class notes & Summaries

Insurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Binder - Temporary insurance contr...

2024 GEORGIA ADJUSTER EXAM/ACTUAL EXAM WITH 100% CORRECT DETAILED AND VERIFIED SOLUTIONS/A+ GRADE Consequential also known as Indirect Loss An insured's business is damaged because of a fire and he is forced to close business temporarily for repairs. As a result the insured lost income. What type of loss is this? Combined Single The insured crashes into a porch and the person sitting on the porch. The person on the porch is injured. The insured's insurance policy has a limit set at $...

NC adjuster Exam Questions and Answers Already Passed Inception/Expiration Date The date on which coverage became effective or expired. Policies in North Carolina become effective and expire at 12:01am Occurrence Date The date on which the loss occurred Identification of Parties involve The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s) Policy form /Number Id...

Final Exam: WGU C213 (Latest 2023/ 2024) Accounting for Decision Makers | Questions and Verified Answers | 100% Correct QUESTION The approach to preparing a statement of cash flows that adjusts net income to cash flows from operations is the? Answer: Indirect Method QUESTION Which of the following statements best describes financial statement analysis? Answer: Financial statement analysis involves relationships and trends. QUESTION Which of the following is...

Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss - ANSWERSConsequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center pillar The trunk floor The quarter panels The frame rails - ANSWERSThe frame rail...

2022/2023 Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS 1. PERILS: A CAUSE OF PROPERTY LOSSES UNDER AN INSURANCE CON- TRACT EX: WINDSTORM, HURRICANE, EXPLOSION, COLLAPSE OF BUILD- ING, VANDALISM, ACCIDENTAL DISCHARGE, AND THEFT 2. LAW OF LARGE NUMBERS: A FUNDAMENTAL CONCEPT IN STATISTICS AND PROBABILITY THAT DESCRIBES HOW THE AVERAGE OF A RANDOM- LY SELECTED LARGE SAMPLE FROM A POPULATION. IT BASICALLY RE- LIES ON THE PRINCIPLE THAT THE LARGER THE POOL, THE MORE PRE- DICTAB...

HFMA's CSAF 2021, Certified Specialist Accounting And Finance Study Guide 2024. Contribution Margin - ANSWER Difference between marginal revenue and marginal cost. Break-even point - ANSWER Level of sales volume of a product producing the exact amount of contribution margin needed to cover fixed costs. Overhead - ANSWER Indirect Costs Activity-based costing (ABC) - ANSWER Method of determining product costs using cost drivers or activity measures, which cause indirect costs to be incu...

COB 242 - Exam 1 Already Passed Gross Margin % (Revenue - COGS) ÷ Revenue indicates how much of each sales dollar is left after deducting the cost of goods sold to cover expenses and provide a profit. Units: % Earnings Per Share (Net Income - Dividends on Preferred Stock) ÷ Average Outstanding Shares This measure indicates how much income was earned for each share of common stock outstanding. Units: $ Working Capital Current Assets - Current Liabilities measure of both a company's effi...

How can Insurance companies can afford to pay for an individual's catastrophic loss? Correct Answer The premiums from all policyholders are pooled together. What information is found on the Declarations page? Correct Answer contains the make and model of the covered vehicle described Steven was denied coverage, a jury decieded in his favor. Why are insurance policies considered "Contracts of Adhesion"? Correct Answer Policy language is open to legal interpretation. Susan is a Doctor,...

Sam was excited to show his supervisor an idea for a behavior plan. His target behavior was "lose weight". What response should the BCBA provide? - ANSWER-Weight loss is a direct effect of other behaviors and not appropriate as a "target behavior" Anjali, a BCBA, was in an IEP meeting for a new student in the school. One of the attendees indicated that they conducted interviews with previous teachers and they all said the boy exhibited the target behavior when he wanted was attention. T...