Principal of indemnity Study guides, Class notes & Summaries
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Texas Property & Casualty Insurance License Exam With Accurate Answers 2023
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Texas Property & Casualty Insurance License Exam with Accurate Answers 2023 
 
In order to be considered legally binding, an insurance contract must include all of the following - Offer and acceptance. 
Competent parties. 
Consideration 
(The four essential elements of all legal contracts are offer and acceptance, consideration, legal purpose, and competent parties.) 
 
With respect to a bonded contractor who defaults on a construction performance contract, which of the following statements is...
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Michigan Property & Casualty Exam 2023/2024 with Complete Solutions
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Indemnity - ANSWER-a payment for damages or loss 
 
Risk - ANSWER-Uncertainty or chance of loss occurring 
 
Pure Risk - ANSWER-Presents the chance of loss with no opportunity for gain 
 
Speculative Risk - ANSWER-Presents the chance of loss with an opportunity to gain (Like Gambling) 
 
Exposure - ANSWER-a unit of measurement used to determine rates charged for insurance coverages. 
 
Hazards - ANSWER-Conditions or situations that increase the probability of an insured loss occurring. 
 
Peril ...
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Bail Bonds Louisiana Exam Questions with Correct Answers
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Bail Bonds Louisiana Exam Questions with Correct Answers 
Acquit - Answer-to set free:to judicially discharge from an acquisition;to clear (a person) of a criminal charge 
 
Bail Enforcement - Answer-the apprehension or surrender of a principal by a natural person who is released on bail or who has failed to appear at and state of the proceedings to answer to the charge before the court, in which he may be prosecuted 
 
obligor - Answer-the party who owes the duty or debt; principal; in bail,th...
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AFSB 153 Sample Exam | 80 Questions with 100% Correct Answers | Updated & Verified | 27 Pages
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The surety relationship includes all of the following parties, EXCEPT: 
a. Surety 
b. Fiduciary 
c. Obligee 
d. Principal - b. Fiduciary 
All of the following are recognized bond terms, EXCEPT: 
a. Noncancelable (open term) 
b. Definite term 
c. Continuous term 
d. Revolving term - d. Revolving term 
In addition to assisting bond applicants to complete applications and indemnity agreements, 
some surety producers 
a. Investigate commercial surety bond losses. 
b. Design commercial surety bond fo...
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Bail Bonds Louisiana Exam With 100% Correct Answers 2023
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Bail Bonds Louisiana Exam With 100% Correct Answers 2023 
Acquit - Correct Answer-to set free:to judicially discharge from an acquisition;to clear (a person) of a criminal charge 
 
Bail Enforcement - Correct Answer-the apprehension or surrender of a principal by a natural person who is released on bail or who has failed to appear at and state of the proceedings to answer to the charge before the court, in which he may be prosecuted 
 
obligor - Correct Answer-the party who owes the duty or debt...
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FL Bail Bonds Test Questions &Answers(RATED A)
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Which two Florida Statutes govern the bail bond industry? -ANSWER Chapter 648 and 903 
 
Which Governmental agency or department governs the bail bond industry in the state of Florida? -ANSWER Florida Department of Financial Services 
 
The Records of all Bail Bond written in this state must be made available within how many hours after being requested by the state? -ANSWER 48 hours 
 
What types of action can the department take against an agents bail bond license? ( 4 types) -ANSWER Fine-Proba...
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North Carolina Health Insurance State Exam Prep And Answers Already Passed 2024.
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Insured Contingent Beneficiary - Answer If the insured and primary beneficiary are both killed in the same accident and it cannot be determined who died first, where are the death proceeds to be directed under the uniform Simultaneous Death Act? 
 
Reimbursement - Answer Which type of policy pays benefits to a policyholder covered under a Hospital Expense policy? 
 
$25,000 - Answer J has an Accidental Death and Dismemberment policy with a principal sum of $50,000. While trimming the hedge...
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CIR- FINAL EXAM, NM ADJUSTER EXAM, CONTINUED PRACTICE EXAM, PROPERTY CASUALTY, CIR- FINAL EXAM, NM ADJUSTERS REVIEW, NY PRACTICE EXAM W/FEEDBACK, PRACTICE EXAM #3, CIR- FINAL EXAM, INSURANCE ADJUSTER EXAM QUESTIONS , NY PRACTICE EXAM|GUARANTEE PASS|2023-2
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CIR- FINAL EXAM, NM ADJUSTER EXAM, CONTINUED PRACTICE EXAM, PROPERTY CASUALTY, CIR- FINAL EXAM, NM ADJUSTERS REVIEW, NY PRACTICE EXAM W/FEEDBACK, PRACTICE EXAM #3, CIR- FINAL EXAM, INSURANCE ADJUSTER EXAM QUESTIONS , NY PRACTICE EXAM|GUARANTEE PASS|2023-2024|+1260 Q&A 
Dragonfly Landscapers has one landscaper and one bookkeeper. The landscaper makes $25/hr, and the bookkeeper makes $15/hr. The landscaper worked 20 hours in 2014, so he made $500. The bookkeeper also worked 20 hours, so she made $...
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Texas Life Insurance Exam Questions and Answers with complete solutions
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Insurance 
(General concept) - ANSWER - transfers the risk of loss from an individual to an insurer 
- based on the principle of indemnity 
- based on the principle of risk (risk pooling) 
 
insurable interest 
(General Concept) - ANSWER - must exist at the time of the application 
- insuring one's own life, family member, or a business partner 
 
Solicitation and sales presentation - ANSWER - illustration- presentation of nonguaranteed elements 
- buyer's guide is generic information abo...
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RMIN 4000 Test 3 Brown Updated 2024 Solution Guide Graded A
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RMIN 4000 Test 3 Brown Updated 2024 Solution Guide Graded A 
Principal of Indemnity - insurer pays no more than actual amount of the loss; insurer should not profit from the loss
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