Surplus Study guides, Class notes & Summaries

WA Surplus Lines Broker Exam Real Questions And Correct Answers When are you required to file premium tax return for the previous calendar year by? - ANSWER March 1st What does statutory accounting mean? - ANSWER Rules state that certain assets are non-admitted (don't count) as you can't pay claims with them. Bonds rated ___________ and higher are considered investment grade. - ANSWER 1 & 2 What does IBNR stand for? - ANSWER Incurred but not reported True or false, individual...

FAC3702 ASSIGNMENT 1 SEMESTER 1 2024 ... 100 % TRUSTED workings, explanations and solutions. For assistance call or W.h.a.t.s.a.p.p us on +/ 2/ 5/ 4 /7 /7 /9 /5 /4 /0 /1 /3 /2 . FAC3702/2024/S1 2 KipKor Ltd is a sports shoe manufacturing company, situated in Mamelodi, Gauteng. The company has a 31 December year end. The following details relate to the assets of KipKor Ltd: Machine On 1 July 2022 Kipkor Ltd purchased a machine for an amount of R500 000. Included in the purchase consid...

WA Surplus Lines Broker Exam Questions And Answers Graded A+ When are you required to file premium tax return for the previous calendar year by? March 1st What does statutory accounting mean? Rules state that certain assets are non-admitted (don't count) as you can't pay claims with them. Bonds rated ___________ and higher are considered investment grade. 1 & 2 What does IBNR stand for? Incurred but not reported True or false, individuals whose Surplus Line Brokers license was activ...

AD Banker Comprehensive Exam Questions & answers. Rated A. 2022/2023 John is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? A. ABC Insurance B. None C. John D. Jane - A. ABC Insurance In an insurance contract the value that each party gives the other is said to be the: A. Subject matter B. Consideration C. Acceptance D. Offer - B. Consideration Which of the following is classified as an insurance broker? A A person in t...

Surplus exam 2.0 WA questions and answers

Differentiation the most appropriate evaluation method for small purchases and complex purchases - Answer- Price Analysis - simple purchase Vaule analysis - more complex Recall the main goals of Open Range - Answer- Remove obstacles Promote leading practice Encourage collaboration Who has the authority to add products/services to the procurement schedule? - Answer- The state use committee Name one way a product can be considered for procurement schedule? - Answer- Vendor request, ag...

Washington State Property & Casualty Insurance Exam 100% correct answers Authorized Insurer An insurer that has qualified and received a Certificate of Authority from the Department of Insurance to transact insurance in the state. Contact adhesion the accepter of the contract must "adhere" to the written contract inducement An action aimed at persuading insolvent Bankrupt; unable to pay debts. Transacting Insurance Conducting insurance business, such as solicit...

WA Surplus Lines Broker Exam Questions And Answers Graded A+

(1)Surplus Lines premiums typically expand during: A) A soft Market B) A Hard Market A Hard Market. Surplus lines premiums typically expand during a hard market. (2) During the time of a hard market, insurers will: A) Tighten their underwriting standards B) Loosen their underwriting standards A) Tighten their underwriting standards. Tighten and raise premiums. (3) A Ceding company (Choose all that apply): A) Is a primary insurer B) Is also a reinsurer C) Is always al...

LIBF-Unit 4 Questions And Answers With Complete Solutions 2023 Competition and markets authority The body responsible for strengthening business competition and preventing and reducing anti-competitive activities. Counterparties People and organization (eg companies) who lend money to and borrow from financial intermediaries (ie financial institutions such as banks) Divestment The process of selling off parts of a company to make it smaller, eg the Lloyds sell-off that created new TSB bra...