IDAHO PROPERTY AND CASUALTY INSURANCE
EXAM COMPREHENSIVE EXAM 2026
◉ Dependent. Answer: A person who relies on another for support
and maintenance.
◉ Director. Answer: The chief executive and administrative officer of
the Insurance Department.
◉ Disclosure. Answer: An act of identifying the name of the
producer, representative or firm, limited insurance representative,
or temporary insurance producer on any policy solicitation.
◉ Domestic Insurer. Answer: An insurance company that conducts
business in the state of incorporation
◉ Domicile of Insurer. Answer: Insurer's location of incorporation
and the legal ability to write business in a state.
◉ Earned Premium. Answer: The amount of the premium for which
the policy protection has been given.
,◉ Effective Date. Answer: The date when an insurance policy begins
(aka inception date).
◉ Employee Retirement Income Security Act (ERISA). Answer: The
act that stipulates federal standards for private pension plans.
◉ Endorsement. Answer: A form changing the provisions of and
attached to a life insurance policy (aka a rider).
◉ Endow. Answer: To reach the maturity date or time at which the
face amount equals cash values.
◉ Estoppel. Answer: A legal impediment to denying a fact or
restoring a right that has been previously waived.
◉ Excess Insurance. Answer: Insurance that pays over and above or
in addition to basic policy limits.
◉ Exclusions. Answer: Causes of loss, exposures, conditions, etc.
listed in the policy for which the benefits will not be paid.
◉ Expiration. Answer: The date specified in the policy as the date of
termination.
, ◉ Express Authority. Answer: The authority granted to an agent by
means of the agent's written contract.
◉ Extension of Benefits. Answer: A provision that allows coverage to
continue beyond the policy's expiration date for employees who are
not actively at work due to disability or who have dependents
hospitalized on that date. This coverage continues only until the
employee returns to work or the dependent leaves the hospital.
◉ Face. Answer: The first page of a policy.
◉ Fair Credit Reporting Act. Answer: A federal law that established
procedures consumer-reporting agencies must follow in order to
ensure that records are confidential, accurate, relevant, and properly
used.
◉ Fiduciary. Answer: An agent/broker who handles insurer's funds
in a trust capacity.
◉ Fixed Annuity. Answer: An annuity that offers fixed payments and
guarantees a minimum rate of interest to be credited to the purchase
payment or payments.
EXAM COMPREHENSIVE EXAM 2026
◉ Dependent. Answer: A person who relies on another for support
and maintenance.
◉ Director. Answer: The chief executive and administrative officer of
the Insurance Department.
◉ Disclosure. Answer: An act of identifying the name of the
producer, representative or firm, limited insurance representative,
or temporary insurance producer on any policy solicitation.
◉ Domestic Insurer. Answer: An insurance company that conducts
business in the state of incorporation
◉ Domicile of Insurer. Answer: Insurer's location of incorporation
and the legal ability to write business in a state.
◉ Earned Premium. Answer: The amount of the premium for which
the policy protection has been given.
,◉ Effective Date. Answer: The date when an insurance policy begins
(aka inception date).
◉ Employee Retirement Income Security Act (ERISA). Answer: The
act that stipulates federal standards for private pension plans.
◉ Endorsement. Answer: A form changing the provisions of and
attached to a life insurance policy (aka a rider).
◉ Endow. Answer: To reach the maturity date or time at which the
face amount equals cash values.
◉ Estoppel. Answer: A legal impediment to denying a fact or
restoring a right that has been previously waived.
◉ Excess Insurance. Answer: Insurance that pays over and above or
in addition to basic policy limits.
◉ Exclusions. Answer: Causes of loss, exposures, conditions, etc.
listed in the policy for which the benefits will not be paid.
◉ Expiration. Answer: The date specified in the policy as the date of
termination.
, ◉ Express Authority. Answer: The authority granted to an agent by
means of the agent's written contract.
◉ Extension of Benefits. Answer: A provision that allows coverage to
continue beyond the policy's expiration date for employees who are
not actively at work due to disability or who have dependents
hospitalized on that date. This coverage continues only until the
employee returns to work or the dependent leaves the hospital.
◉ Face. Answer: The first page of a policy.
◉ Fair Credit Reporting Act. Answer: A federal law that established
procedures consumer-reporting agencies must follow in order to
ensure that records are confidential, accurate, relevant, and properly
used.
◉ Fiduciary. Answer: An agent/broker who handles insurer's funds
in a trust capacity.
◉ Fixed Annuity. Answer: An annuity that offers fixed payments and
guarantees a minimum rate of interest to be credited to the purchase
payment or payments.
