- Study guides, Class notes & Summaries

Insurance License Exam Questions And Answers (Guaranteed A+) Absolute Liability - AnswerLiability that arises from an extremely dangerous situation. Absolute Liability is often found in cases involving explosives. Also known as "strict"liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - AnswerA sudden and unexpected event, occurring at a specific time and place. Actual Cash Value (ACV) - AnswerThe cost to replace an item of property at the...

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15 pages

Written in 2024/2025

Grade A+

Everly

Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only. Exam Questions And Answers (Guaranteed A+) Question 1 Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - AnswerLife income Question 2 A new agent must complete at least _____ hours of continuing education within 24 months of initial license? - Answer24 hours Question 3 L takes out a life insurance policy and dies 10 years later. During the claim process, the ...

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10 pages

Written in 2024/2025

Grade A+

Everly

Insurance License Exam Questions And Answers (Guaranteed A+) A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as - Answerrisk retention group Who elects the governing body of a mutual insurance company? - AnswerPolicyholders Who is a mutual insurance company owned by? - AnswerIts policyholders What type of reinsurance contract involves two companies automatically sharing their risk exposure? - AnswerTreaty Insurers that are o...

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25 pages

Written in 2024/2025

Grade A+

Everly

TEXAS INSURANCE LICENSE EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) | ALREADY GRADED A+ Unless otherwise stated by the policy, property covered by the Building and Personal Property Coverage Form is valued on what basis? - Actual cash value Under a Commercial General Liability policy, all of the following statements about the supplemental extended reporting period are correct, except: - The insurer m...

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22 pages

Written in 2024/2025

Grade A+

NinjaNerd

Insurance License exam set study guide correct and verified A.pdf Insurance License exam set study guide correct and verified A.pdf Insurance License exam set study guide correct and verified A.pdf Insurance License exam set study guide correct and verified A.pdf

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11 pages

Written in 2024/2025

Grade A+

InsightInk

Insurance License exam set study guide correct and verified A Insurance License exam set study guide correct and verified A Insurance License exam set study guide correct and verified A Insurance License exam set study guide correct and verified A Insurance License exam set study guide correct and verified A

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17 pages

Written in 2024/2025

Grade A+

InsightInk

Insurance License exam set study guide correct and verified A+ latest updates fall 2024Insurance License exam set study guide correct and verified A+ latest updates fall 2024 A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as - correct answer-risk retention group Who elects the governing body of a mutual insurance company? - correct answer-Policyholders Who is a mutual insurance company owned by? - correct answer-Its policyhold...

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17 pages

Written in 2024/2025

Grade A+

clevercopies

Insurance License exam set study guide correct and verified A+Insurance License exam set study guide correct and verified A+ Absolute Liability - correct answer-Liability that arises from an extremely dangerous situation. Absolute Liability is often found in cases involving explosives. Also known as "strict"liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - correct answer-A sudden and unexpected event, occurring at a specific time and pla...

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11 pages

Written in 2024/2025

Grade A+

clevercopies

Accumulation units are converted into annuity units: at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required before benefits begin again. FALSE Robert had an accident and qualified for Social Security disability. Given the ...

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29 pages

Written in 2024/2025

Grade A+

Axpert

Insurance License Exam Exam Questions and Answers 100% Pass Actual authority - answeranything a principal authorizes the agent to do aleatory contract - answercontract in which the amounts exchanged are not equal conformity to statute - answera policy provision that says the policy follows a state's law if the law and policy language are in conflict contract of adhesion - answercontract drawn by one party and offered to another on a "take it or leave it" basis direct writer agen...

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14 pages

Written in 2024/2025

Grade A+

Brightstars

Insurance license practice XCEL solutions FINAL EXAM #12 PREP 2024/2025 with 100% correct answers

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14 pages

Written in 2024/2025

Grade A+

SparklingGrades1

1 Exam (elaborations) 214 Florida Insurance Exam/ 164 Quizzes & Correct Ans/ 2024-2025. 2 Exam (elaborations) Exam Simulator- Florida Life and Health State Exam Simulator/ 230+ Q&A/ 2024-2025. 3 Exam (elaborations) Final Exam - Florida Life and Health/ 150 Quizzes & Correct Ans. 4 Exam (elaborations) Florida 2-15 Insurance License Exam/ 149 Q&A/

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18 items

docmickey

Florida 2-15 Insurance License Exam/ 149 Q&A/ . Terms like: "ACC" refers to the type of disability that prevents someone from performing the job he was performing prior to the disability. - Answer: FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? - Answer: An examination can be conducted at any time to discover any unfair trade practices. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for pur...

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20 pages

Written in 2024/2025

Grade A+

docmickey

INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 |TEXAS ONLY WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DETAILED ANSWERS |FREQUENTLY TESTED QUESTIONS AND SOLUTIONS |ALREADY GRADED A+|NEWEST|GUARANTEED PASS |LATEST UPDATE

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11 pages

Written in 2024/2025

Grade A+

Drgary

INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY LATEST 202INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY LATEST 202INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY LATEST 202INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY LATEST 202INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY LATEST 202INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE...

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13 pages

Written in 2024/2025

Grade A+

DrJudy

Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Questions with complete solution 2023 Which of the following actions does the commissioner of insurance NOT have the power to conduct? - ANS-Activate insurance companies' financial reserves In Texas, which of these statements regarding the suicide clause is TRUE? - ANS-An insurer may not use suicide as a defense against payment after the second year Question 34 Insurance agent has a fiduciary responsibili...

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7 pages

Written in 2023/2024

Grade A+

laurenjames

XCEL SOLUTIONS EXAMS PACKT | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

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29 items

ScholarsAscend

Utmost Good Faith - Insurance can only work when the parties to the contract are completely honest with each other. That's why insurance contracts are what kind of contracts? Family, Friends, or a primarily a personal contract - An agent will violate the prohibition against controlled business is she sells most of her insurance polices to whom It excludes coverage even if a weather-related peril like rain leads to a mudslide. - Heavy rains cause a mudslide to weaken the foundation of Amy'...

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27 pages

Written in 2023/2024

Grade A+

QUINTER

All of the following are categories of a limited insurance license EXCEPT 1) crop insurance 2) variable life insurance 3) credit life insurance 4) travel insurance - 2) variable life insurance What term best describes the act of withholding material information that would be crucial to an underwriting decision? 1) concealment 2) withholding 3) leading 4) breach of warranty - 1) concealment

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27 pages

Written in 2023/2024

Grade A+

QUINTER

An insured owns 4 stores. As inventory is sold, the insured transfers new inventory from other locations to the store making the sales. Which type of policy would best fit this insured's needs? A) Value reporting policy B) Specific policy C) Scheduled policy D) Blanket policy - D) Blanket policy All of the following statements about aleatory contracts are true EXCEPT: A) in an aleatory contract, the insured my pay only a few premiums and the insurer will be paying much more for a claim ...

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24 pages

Written in 2023/2024

Grade A+

QUINTER