Top Insurance Flashcards

Insurance is something you need today with almost each and every one of your important possessions. Things move so fast and situations develop so rapidly that it is sometimes impossible to predict what will happen next and make the best decision. But before you get insurance, you should know what it is. For that we have a couple of samples.

Insurance is a form of risk management primarily used to hedge against the risk of what? An entity which provides insurance is known as an insurer, insurance company, or what? The loss may or may not be financial, but it must be reducible to financial terms, and must involve something in which the insured has what? Find all the answers to the remaining questions in the trivia and win the big prize.
Define These Insurance Policy Flashcards
Cards: 12| Attempts: 516| Last updated: Sep 7, 2020
  An Insurance Policy Represents A Special Kind...
  It Is A Legally Enforceable Agreement Between...
  What Is The Difference Between An Individual ...
  In An Individual Contract, The Parties Are Th...
  There Are Several Types Of Contracts - Explai...
  A Formal Contract Is One That Is Enforceable ...
  A Contract Between Two People Can Be Unilater...
  A Unilateral Is A Contract When One Party Mak...
Choose Correct Licensure, Ethics And The Insurance Producer Flashcards
Cards: 24| Attempts: 238| Last updated: Mar 31, 2021
  An Insurance Salesperson Who Offers A $100 Go...
  D
  In What Phase Of The Selling Process Are Seri...
  B
  Which Of The Following Phrases Should Agents ...
  B
  All Of The Following Are Involved In A Produc...
  A
The Insurance Industry Flashcards
Cards: 15| Attempts: 41| Last updated: Oct 27, 2020
  Producers Are Expected To Adhere To All Of Th...
  C
  An Insurance Company Organized And Headquater...
  D
  Which Of The Following Statements Regarding T...
  A
  Regarding Landmark Cases And Laws Involving T...
  C

Topics

Inland Marine Insurance
Medical Insurance
Property Dwelling Policy Flashcards
Cards: 13| Attempts: 22| Last updated: Oct 27, 2020
  Dwelling Policy
  Used To Insure Private Residential Property T...
  Eligibility For A DP
  1. To Be Eligible, Dwellings Must Be Used Pri...
  DP-1
  (Basic Form) 1) Perils That Are Covered ...
  Extended Coverage Endorsement (ECE)
  Perils Of Wind, Hail, Aircraft, Riot, Vehicle...
Utah Insurance Regulations Flashcards
Cards: 65| Attempts: 18| Last updated: Oct 27, 2020
  What Are The Utah Pre-Licence Requirements?
  There Are No Requirements
  What Is Required Of Producers To Renew t...
  A Producer Must Complete 24 Hours Of Continui...
  How Long Do You Have To Notify The Commission...
  30 Days
  What Is Required Before A License Is Suspende...
  A Hearing
Chapter 1 Insurance And Related Concepts Flaashcards
Cards: 6| Attempts: 17| Last updated: Sep 1, 2020
  Insurance Transfers The Risk Of Loss From An ...
  Which In Turn Spreads The Costs Of An Unexpec...
  Insurable Interest
  The Insured Must Have An Insurable Interest I...
  3 Elements Of Insurable Risk
  Financial (a Monetary Interest) Blood (a Rel...
  Insurabe Interest Must Exist At...
  ...the Time Of Loss
General Insurance Flashcards
Cards: 284| Attempts: 11| Last updated: Oct 27, 2020
  In Insurance Contracts, When Is The Offer Usu...
  When Application Is Submitted
  What Is The Fee A Person Pays An Insurance Co...
  Premium
  An Insurance Policy Paid A Nontaxable Dividen...
  Mutual
  For The Purpose Of Insurance, What Is Risk?
  Uncertainty Of Loss
INS 23 - Insurance Course
Cards: 7| Attempts: 11| Last updated: Sep 17, 2015
  Commercial Insurance
  Covers For-profit Business & Not-for Prof...
  Loss Exposure
  Any Condition Or Situation That Presents A Po...
  Corporation
  An Enitity Organized Under State Laws And Ent...
  Partnership
  For Profit Business Entity Jointly Owned By 2...
Insurance Training-Key Terms And Concepts Flashcards
Cards: 55| Attempts: 6| Last updated: Oct 27, 2020
  Exposure
  A Unit Of Measurement Used To Determine Rates...
  Homogeneous
  A Large Number Of Units Having The Same Expos...
  Risk
  The Uncertainty Or Chance Of A Loss Occurint
  Pure Risk
  Situations That Can Only Result In Loss Or No...
Taxes, Retirement And Other Insurance Concepts
Cards: 8| Attempts: 6| Last updated: Sep 17, 2015
  Multiple Employer Trusts
  A Group Of Small Employers Combining To Obtai...
  Contributory Vs Non-Contributory
  When The Employer Pays All Of The Premiums Th...
  Modified Endowment Contract (MEC)
  Seven Pay Test To Insure Policy Is Not Over F...
  What Is The Penalty For Early Withdraw?
  10% Penalty Before The Age Of 59 1/2.
Aic 33 - Insurance
Cards: 5| Attempts: 4| Last updated: Sep 17, 2015
  RESERVE
  The Amount The Insurer Estimates And Sets Asi...
  INDIVIDUAL CASE METHOD
  A Method Of Setting Reserves Based On The Cla...
  ROUDTABLE METHOD
  A Method Of Setting Reserves By Using The Con...
  AVERAGE VALUE METHOD
  A Method Of Setting Claim Reserves By Using A...
Define The Terms And Characteristics Related To Insurability Flashcards
Cards: 43| Attempts: 2| Last updated: Oct 27, 2020
  Six Characteristics Of An Ideally Insurable L...
  1. Pure Risk 2. Fortuitous Loss3. Defini...
  Pure Risk 
  Involves Pure Risk Not Speculative Risk ...
  Fortuitous Losses 
  Subject To Fortuitous Loss For The Insured...
  Definite And Measurable 
  Subject To Losses That Are Definite In Time C...
Overview Of Insurance
Cards: 15| Attempts: 1| Last updated: Feb 24, 2017
  Contract Of Indemnity
  A Contract In Which One Or More Parties To Th...
  An Exchange Of Value That Makes A Contract En...
  Consideration - Can Be Monetary Or Goods/serv...
  Both Parties To A Contract Must Have  in...
  Intent.
  A Person(s) Must Have _______ Capacity To Ent...
  Legal
Insurance
Cards: 38| Attempts: 1| Last updated: Sep 22, 2015
  Negligence Definition
  Negligence Definition -   &nb...
   Diff W/ Private/public Nuisance
   Diff W/ Private/public Nuisance Privat...
   THREE WAYS LIAB CAN BE IMPOSED: 
  Negligence Nuisance Breach Of Contract
   Breach Of Contract      ...
   Breach Of Contract When A Party To A C...
Property Insurance Ch 1
Cards: 89| Attempts: 0| Last updated: Sep 21, 2015
  Occurrence
  An Event That Results In A Loss. It Includes ...
  Cancellation
  The Termination Of An Insurance Policy Before...
   Pro Rata Cancellation
  The Cancellation Of A Policy For Which A Refu...
  Short Rate Cancellation
   The Cancellation Of A Policy For Which ...


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