Agentproducer Study guides, Class notes & Summaries

Agent/Producer correct answers A person who acts for another person or entity with regard to contractual arrangements with third parties; a legal representative of an insurance company. Agent/Agency Contract correct answers a contract that is held between an insurer and an agent/producer, containing the expressed authority given to the agent/producer, outlining the duties and responsibilities to the principal. If the agent is in violation of the agency contract (or agreement), he or she may b...

Adverse Selection - ANSWER insuring of risks that are more prone to losses than the average risk agent/producer - ANSWER legal representative of insurance company producer - ANSWER includes agents and brokers agent - ANSWER agent of the insurer applicant - ANSWER a person applying for insurance beneficiary - ANSWER person who receives benefits of an insurance policy death benefit - ANSWER the amount paid upon death of the person insured through life insurance insurance polic...

Alabama Life & Health Insurance Exam With 100% Correct Answers 2024

Alabama Life & Health Insurance Exam (ExamFX Chapter 1 General Insurance) Quizzes & Ans..

Agent/Producer correct answer: a legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer Applicants (or proposed insured) correct answer: a person applying for insurance Broker correct answer: an insurance producer not appointed by an insurer and is deemed to represent the client Insurance Policy correct answer: a contract between a policyowner (and/or insured) and an insurance company whi...

Chapter 1 - General Insurance Concepts: Idaho with Complete SolutionsChapter 1 - General Insurance Concepts: Idaho with Complete SolutionsChapter 1 - General Insurance Concepts: Idaho with Complete SolutionsChapter 1 - General Insurance Concepts: Idaho with Complete Solutions Define: Agent/Producer - - ANSWER-A legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer. Define: Applicant or Proposed I...

Nebraska State Life and Health Insurance Exam Terms

policy owner - ANSWER usually, but not always the person covered by the policy beneficiary - ANSWER the person who is paid when a claim is submitted agent/producer - ANSWER acts as a legal representative of the insurance company broker - ANSWER representative of the Insured, not the insurance company risk - ANSWER The chance or uncertainty of loss Pure risk - ANSWER the chance of experiencing a loss (without the possibility of gain). Only downside, no upside. Speculative ri...

UCanPass Primerica VA Questions and Answers 100% verified

Adverse Selection -ANSWER insuring of risks that are more prone to losses than the average risk agent/producer -ANSWER legal representative of insurance company producer -ANSWER includes agents and brokers agent -ANSWER agent of the insurer applicant -ANSWER a person applying for insurance beneficiary -ANSWER person who receives benefits of an insurance policy death benefit -ANSWER the amount paid upon death of the person insured through life insurance insurance policy -ANSW...