Speculative vs pure risk Study guides, Class notes & Summaries
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![CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024](/docpics/3226246/64d4f5dc2a11b_3226246_121_171.jpeg)
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024
- Exam (elaborations) • 22 pages • 2023
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024 
CA PSI Site - Life, Accident and Health 
Agent Examination (Life Agent)| Questions 
and Answers, 100% Correct| Latest 
2023/2024 
Admitted Insurance Company vs. Non-Admitted Insurance Company 
An admitted insurance company is authorized to transact insurance in California 
because it has a Certificate of Authority granted by the California Department of 
Insurance (...
![California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers)](/docpics/3161849/64c7dbf1533a7_3161849_121_171.jpeg)
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California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers)
- Exam (elaborations) • 34 pages • 2023 Popular
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California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers) 
Admitted Insurance Company vs. Non-Admitted Insurance Company - (Correct Answer) An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) 
 
A non-admitted insurance company is not authorized to transact insurance in California because of fa...
![CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions](/docpics/2835533/647818420fb02_2835533_121_171.jpeg)
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions
- Exam (elaborations) • 19 pages • 2023
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete SolutionsCA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete SolutionsAdmitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) 
 
A non-admitted insurance company is not authorized to transa...
![CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions with 100 % correct Answers | Verified](/docpics/2926764/6490b2390048d_2926764_121_171.jpeg)
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions with 100 % correct Answers | Verified
- Exam (elaborations) • 8 pages • 2023
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Admitted Insurance Company vs. Non-Admitted Insurance Company - An admitted insurance 
company is authorized to transact insurance in California because it has a Certificate of Authority 
granted by the California Department of Insurance (CDI) 
A non-admitted insurance company is not authorized to transact insurance in California because of 
failing to comply with California requirements or did not seek admission 
Pure Risk vs. Speculative Risk - Pure risks are insurable but Speculative risks ar...
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CPCU 500 Exam Questions and Answers 2023
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Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes 
 
Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. 
 
What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome 
 
Pure Risk - Answer- a chance of loss or no loss, but no...
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WebCE Exam Questions with correct Answers
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Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. 
Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. 
 
Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. 
Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...
![California property and casualty exam, Pool Questions & Answers. Verified. Rated A](/docpics/63dd5810dd087_2333246.jpg)
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A 
 
 
 
The process where by a mutul insurer becomes a stock company is called - Demutalization 
 
The process whereby a stock company a mutal insurer is called - Mutalization 
 
The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause 
 
The part of the policy that states the amout of coverage the insured property policy period is - Declara...
![CA PSI Site - Life, Accident And Health Agent Examination (Life Agent) Questions With 100% Correct Answers](/docpics/5601341/66670a71c3cf5_5601341_121_171.jpeg)
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CA PSI Site - Life, Accident And Health Agent Examination (Life Agent) Questions With 100% Correct Answers
- Exam (elaborations) • 24 pages • 2024
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CA PSI Site - Life, Accident And Health Agent Examination (Life Agent) Questions With 100% Correct Answers 
An admitted insurance company is authorized to transact insurance in California because it has a Certificate of 
Authority granted by the California Department of Insurance (CDI) 
A non-admitted insurance company is not authorized to transact insurance in California because of failing to 
comply with California requirements or did not seek admission Admitted Insurance Company vs. Non-Admit...
![CA PSI SITE -LIFE,ACCIDENT AND HEALTH AGENT EXAM WITH QUESTIONS AND WELL VERIFIED ANSWERS [GRADED A+] ACTUAL EXAM 100%](/docpics/5509415/665c0f8ddbfc4_5509415_121_171.jpeg)
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CA PSI SITE -LIFE,ACCIDENT AND HEALTH AGENT EXAM WITH QUESTIONS AND WELL VERIFIED ANSWERS [GRADED A+] ACTUAL EXAM 100%
- Exam (elaborations) • 30 pages • 2024
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CA PSI SITE -LIFE,ACCIDENT AND HEALTH AGENT EXAM WITH QUESTIONS AND WELL VERIFIED ANSWERS [GRADED A+] ACTUAL EXAM 100% 
Admitted Insurance Company vs. Non-Admitted Insurance Company - ANS---An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) 
A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California...
![CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions](/docpics/4463682/65c67c5b24693_4463682_121_171.jpeg)
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions
- Exam (elaborations) • 19 pages • 2024
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Available in package deal
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions 
 
CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions 
 
CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions 
 
Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER-An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by th...
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