Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ins. Transaction

The Insurance Transaction

QuestionAnswer
Which of the following is TRUE about the insurance binders? They are legal evidence that coverage is in force.
Under most state statutes, an oral contract is sufficient for which of the following? Making changes to coverages that are already in effect; Binding the company until a policy is issued
Which of the following is true regarding oral binders? Coverage will become effective when the proposed insured accepts the obligation to pay the premium
Under the doctrine of warranties, an insured must tell the the insurance company the absolute literal truth
A material fact is defined as one which is important enough to affect the insurance company's decision whether to issue the policy or not
An applicant who makes an untrue statement on an application for a Homeowner's Policy would be guilty of Misrepresentation
In Property and Casualty insurance, an interim insuring agreement between an insurance company and a new insured is called a(an) binder
A binder may expire on all of the following dates EXCEPT the: date prior to the receipt of the notice of cancellation of the binder
The Fair Credit Reporting Act states all of the following EXCEPT that all information obtained on an application must be collected during a personal interview
You own a building valued at $100,000. You have it insured for $85,000 and an annual premium of $1,000 for the policy. If you were to cancel the policy halfway through the policy year, you should receive a refund of something less than $500
Created by: BGeisert
Popular Insurance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards