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AD Banker Property and Casualty Comprehensive Exam 2023 with 100% correct answers
[Show more]AD Banker Property and Casualty Comprehensive Exam 2023 with 100% correct answers
[Show more]A producer who is acting as an agent is representing: 
 
A 
The insured, the applicant and the beneficiary 
 
B 
Always the insured 
 
C 
The insured and the insurer 
 
D 
Always the insurer 
D 
 
 
 
In order to be valid, a contract must be between individuals considered legally able to enter into ...
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Add to cartA producer who is acting as an agent is representing: 
 
A 
The insured, the applicant and the beneficiary 
 
B 
Always the insured 
 
C 
The insured and the insurer 
 
D 
Always the insurer 
D 
 
 
 
In order to be valid, a contract must be between individuals considered legally able to enter into ...
Which insurer's owner receives taxable corporate dividends as a return of profit? 
Stock 
 
 
 
To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: 
Reinsure the risk 
 
 
 
The direct writing distribution model utilizes: 
Salaried ...
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Add to cartWhich insurer's owner receives taxable corporate dividends as a return of profit? 
Stock 
 
 
 
To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: 
Reinsure the risk 
 
 
 
The direct writing distribution model utilizes: 
Salaried ...
Dividends if declared are paid: 
 
A. Annually 
B. Semi-annually 
C. Monthly 
D. Quarterly 
A. Annually 
 
 
 
An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the policy? 
 ...
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Add to cartDividends if declared are paid: 
 
A. Annually 
B. Semi-annually 
C. Monthly 
D. Quarterly 
A. Annually 
 
 
 
An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the policy? 
 ...
Legally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. 
Fiduciary 
 
 
 
It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. 
State Insurance Commissi...
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Add to cartLegally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. 
Fiduciary 
 
 
 
It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. 
State Insurance Commissi...
John is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? 
A. ABC Insurance 
B. None 
C. John 
D. Jane 
A. ABC Insurance 
 
 
 
In an insurance contract the value that each party gives the other is said to be the: 
A. Subject matter 
B. Considerat...
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Add to cartJohn is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? 
A. ABC Insurance 
B. None 
C. John 
D. Jane 
A. ABC Insurance 
 
 
 
In an insurance contract the value that each party gives the other is said to be the: 
A. Subject matter 
B. Considerat...
Which of the following is not covered with Medicare Part A? 
A. Semiprivate hospital room 
B. General nursing and hospital services 
C. Post hospital skilled nursing care 
D. Outpatient hospital care 
D. Outpatient hospital care 
 
 
 
All of the following are true of insurance in general, except: 
...
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Add to cartWhich of the following is not covered with Medicare Part A? 
A. Semiprivate hospital room 
B. General nursing and hospital services 
C. Post hospital skilled nursing care 
D. Outpatient hospital care 
D. Outpatient hospital care 
 
 
 
All of the following are true of insurance in general, except: 
...
An employer may require a former employee who has COBRA coverage to pay up to _____% of the premium. 
102 
 
 
 
Accidental Injury is a: 
Sudden, unexpected and unforeseen event 
 
 
 
Albert owned a $100,000 policy that had accumulated a cash value of $20,000, against which he had borrowed $10,000....
Preview 2 out of 15 pages
Add to cartAn employer may require a former employee who has COBRA coverage to pay up to _____% of the premium. 
102 
 
 
 
Accidental Injury is a: 
Sudden, unexpected and unforeseen event 
 
 
 
Albert owned a $100,000 policy that had accumulated a cash value of $20,000, against which he had borrowed $10,000....
5 months 
The waiting period from the start of a disability to be eligible to apply for Social Security disability is: 
 
 
 
Nonoccupational Basis 
Most group Disability Income contracts are offered on a(n): 
 
 
 
Dental expense insurance deductibles are normally waived for all of the following, e...
Preview 3 out of 24 pages
Add to cart5 months 
The waiting period from the start of a disability to be eligible to apply for Social Security disability is: 
 
 
 
Nonoccupational Basis 
Most group Disability Income contracts are offered on a(n): 
 
 
 
Dental expense insurance deductibles are normally waived for all of the following, e...
3x sold
Temporary Total Disability may be described as: 
Inability to return to any employment while recovering 
 
 
 
Supplementary Payment under Part A of the Personal Auto Policy? 
A Up to $250 for the cost of bail bonds 
B Payment for lost earnings up to $200/day 
C Medical payments for an occupant of a...
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Add to cartTemporary Total Disability may be described as: 
Inability to return to any employment while recovering 
 
 
 
Supplementary Payment under Part A of the Personal Auto Policy? 
A Up to $250 for the cost of bail bonds 
B Payment for lost earnings up to $200/day 
C Medical payments for an occupant of a...
Which rating method listed below is established by the underwriter? 
 
A. Manual rating 
B. Retrospective rating 
C. Individual rating 
D. Judgment rating 
D. 
Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by the actuarial de...
Preview 3 out of 20 pages
Add to cartWhich rating method listed below is established by the underwriter? 
 
A. Manual rating 
B. Retrospective rating 
C. Individual rating 
D. Judgment rating 
D. 
Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by the actuarial de...
A and B are married. They have two minor age children. A and B feel that all family members should have coverage on their lives, not just A. What would be the least expensive way to accomplish this? 
A 
Add accidental death coverage riders on B and the two children 
B 
Buy a traditional whole life p...
Preview 4 out of 206 pages
Add to cartA and B are married. They have two minor age children. A and B feel that all family members should have coverage on their lives, not just A. What would be the least expensive way to accomplish this? 
A 
Add accidental death coverage riders on B and the two children 
B 
Buy a traditional whole life p...
Exclusive remedy means that: 
Employees covered by Workers' Compensation insurance cannot sue for work-related injury 
 
 
 
What is the purpose of an Umbrella Liability Policy? 
To cover large and catastrophic losses 
 
 
 
Neither the Computer Fraud nor Funds Transfer Fraud forms cover which of t...
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Add to cartExclusive remedy means that: 
Employees covered by Workers' Compensation insurance cannot sue for work-related injury 
 
 
 
What is the purpose of an Umbrella Liability Policy? 
To cover large and catastrophic losses 
 
 
 
Neither the Computer Fraud nor Funds Transfer Fraud forms cover which of t...
Requires the insured to pay premiums for life and endows at 100. 
A Whole Life Policy: 
 
 
 
Total permanent disability 
To waive an insured's premium, most companies require an individual's disability to be: 
 
 
 
24 
A producer licensed for property and casualty must complete at least ________...
Preview 1 out of 4 pages
Add to cartRequires the insured to pay premiums for life and endows at 100. 
A Whole Life Policy: 
 
 
 
Total permanent disability 
To waive an insured's premium, most companies require an individual's disability to be: 
 
 
 
24 
A producer licensed for property and casualty must complete at least ________...
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