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ABA CTFA Practice Test - Questions Answers, Page 79

List of questions

Question 781

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In which policies the contract provides for insurance coverage for a fixed period of duration and enables the insurer to not renew the contract or adjust the provisions of the contract at the end of the contract period?

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Question 782

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If claims have been reported to the insurer after the contract period, it may several months for the insurer to investigate and establish a case reserve for reported claims.

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Question 783

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In which account current, for individual policies, the agent collects the premiums directly from the insureds, subtracts his or her commissions and remits the net premiums due to entity?

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Question 784

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The agents submits to the insurance entity a statement of all policies issued or due during the current month , and the net amount of the statement is subsequently to be paid in accordance with the agency agreement, is a account current of:

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Question 785

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Who is responsible for accounting for customer remittance advices and the agent's current account?

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Question 786

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Changes in existing policies that may result in additional premiums or return premiums, such as increases or decreases in coverage limits, in:

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Question 787

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In _________________, an adjustment is based on experience of an individual risk during the term of the policy and is generally subject to maximum and minimum premium limits specified in the policy.

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Question 788

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Outgoing premiums less return premiums arising from reinsurance purchased from other insurance entities are called:

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Question 789

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Home office record-maintenance methods may include:

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Question 790

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A premium deficiency relating to which insurance contracts indicate a probable loss on premiums yet to be earned.

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