Insurance Exam FX 131 correct
solutions.
Insurance Exam FX 131 correct
solutions.
Accelerated benefits - ANSWER riders attached to life insurance policies which allow death benefits to
be used to cover nursing or convalescent home expenses
accident - ANSWER an unplanned, unforeseen event which occurs suddenly at an unspecified place
Accidental Death and Dismemberment - 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 - 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
accumulation period - 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 - ANSWER the required amount to pay damages or for property loss
actual charge - ANSWER the amount a physician or supplier actually bills for a particular service or
supply
actuary - 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 - 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 - ANSWER life insurance which permits changes in the face amount, premium amount,
period of protection, and the duration of the premium payment period
, Insurance Exam FX 131 correct
solutions.
adjuster - 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 - ANSWER an individual appointed by a court as a fiduciary to settle the financial affairs
and estate of a deceased person
adverse selection - 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 - ANSWER an individual who is licensed to sell, negotiate, or effet insurance contracts on behalf of
an insurer
aleatory - ANSWER a contract in which participating parties exchange unequal amounts
alien insurer - ANSWER am insurance company that is incorporated outside of the united states
ancillary - ANSWER additional services provided by a hospital such as x-rays but not hospital room and
board expenses
annuity - ANSWER a contract that provides income for a specified period of years, or for life
apparent authority - ANSWER the appearance or the assumption of authority based on the actions,
words, or deeds of the principal or because of circumstances the principal created
application - ANSWER a document that provides information for underwriting purposes
approved amount - ANSWER the amount Medicare determines to be reasonable for a service that is
covered under part B of Medicare
solutions.
Insurance Exam FX 131 correct
solutions.
Accelerated benefits - ANSWER riders attached to life insurance policies which allow death benefits to
be used to cover nursing or convalescent home expenses
accident - ANSWER an unplanned, unforeseen event which occurs suddenly at an unspecified place
Accidental Death and Dismemberment - 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 - 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
accumulation period - 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 - ANSWER the required amount to pay damages or for property loss
actual charge - ANSWER the amount a physician or supplier actually bills for a particular service or
supply
actuary - 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 - 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 - ANSWER life insurance which permits changes in the face amount, premium amount,
period of protection, and the duration of the premium payment period
, Insurance Exam FX 131 correct
solutions.
adjuster - 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 - ANSWER an individual appointed by a court as a fiduciary to settle the financial affairs
and estate of a deceased person
adverse selection - 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 - ANSWER an individual who is licensed to sell, negotiate, or effet insurance contracts on behalf of
an insurer
aleatory - ANSWER a contract in which participating parties exchange unequal amounts
alien insurer - ANSWER am insurance company that is incorporated outside of the united states
ancillary - ANSWER additional services provided by a hospital such as x-rays but not hospital room and
board expenses
annuity - ANSWER a contract that provides income for a specified period of years, or for life
apparent authority - ANSWER the appearance or the assumption of authority based on the actions,
words, or deeds of the principal or because of circumstances the principal created
application - ANSWER a document that provides information for underwriting purposes
approved amount - ANSWER the amount Medicare determines to be reasonable for a service that is
covered under part B of Medicare
