Life and Health Insurance License Study guides, Class notes & Summaries

Tom the agent negotiates an agreement that unreasonably restrains the business of insurance. He has likely commited a violation of insurance law that falls under - ANSWER-Boycott, coercion, and intimidation Viatical settlement proceeds may be subject to the claims of - ANSWER-creditors Once an insured notifies an insurer of a claim, what must the insurer do? - ANSWER-Send out a claim form What action may the Bureau of Insurance take when it finds that a license applicant is not competen...

Which of the following statements is true regarding accident and health insurance claims that reimburse on an idemnity basis? - ANSWER-Claims can be sent directly to the insured. Tom the agent negotiates an agreement that unreasonably restrains the business of insurance. He has likely commited a violation of insurance law that falls under - ANSWER-Boycott, coercion, and intimidation Viatical settlement proceeds may be subject to the claims of - ANSWER-creditors Once an insured notifies ...

Life And Health Insurance License Exam Practice Test Latest Update Questions and Correct Answers with Rationale Guaranteed A+

Life and Health Insurance License prep questions with verified solutions Which of the following statements is true regarding accident and health insurance claims that reimburse on an idemnity basis? Claims can be sent directly to the insured. Tom the agent negotiates an agreement that unreasonably restrains the business of insurance. He has likely commited a violation of insurance law that falls under Boycott, coercion, and intimidation Viatical settlement proceeds may be subject to the claim...

Insurance is a... - ️️transfer of risk What type of risk is gambling? - ️️Speculative Risk What type of risk is a car accident? - ️️Pure Risk What type of risk is insurable? - ️️Pure Risk uncertainty about whether a loss will occur - ️️Risk Risk Management Method Acronym - ️️STARR (sharing, transfer, avoidance, retention, reduction) Insurance company purchases insurance to cover their own exposure to loss - ️️reinsurance Loss Equation - ️️valu...