101 Simulated Exam 2024 Questions With Correct Detailed Answers With Rationales |verified|a+ Grade

Determining coverage quotes {Ans: Jessie is a new customer service representative (CSR) at the Winfield Agency. Jessie usually engages in all the following activities, EXCEPT}Moral hazards {Ans: Joel is the underwriter for Stanton Industries. He received a notice from the premium auditor on the account. After a recent visit to the insured's location, the auditor wanted to make Joel aware of a decline in the business and some questionable business practices. Which one of the following types of hazards is the auditor identifying?}Identifying the policy, calculating a loss reserve, determining the cause of loss, preparing a loss statement {Ans: James West is a claims rep with Hatters Insurance. As he learns how to handle a claim from start to finish, which one of the following best describes the correct order for him to follow during this process?}Support producers and insureds {Ans: At Greenfield Insurance Company, Bernadette and Rachel are corporate underwriters, and Tomas and Jose are field underwriters. All of the following are underwriting activities typically performed by corporate (or staff) underwriters like Bernadette and Rachel, EXCEPT:}Time, cause, and location {Ans: For a loss exposure to be ideally insurable it must be definite in}Underwriting