Acronyms

Question 0

2. Aleatory

Answer 0

One party will pay more than other party in a loss

Question 1

1. Fuduciary

Answer 1

Money

Question 2

3. Estoppel

Answer 2

Prevent you from excursion.. you allowed it to happen in the past

Question 3

4. Insurance

Answer 3

Is a contract of adhesion

Question 4

5. Risk

Answer 4

Uncertainty of a loss or chance of loss

Question 5

7. Administrator

Answer 5

Certificate yo pay claim

Self manager

Question 6

6. Twisting

Answer 6

induce to drop

Question 7

8. Concealment

Answer 7

Not telling something material

Question 8

9. Representations

Answer 8

Implied warranty
altered or withdrawn
best belief or knowledge

Question 9

10. Negligence

Answer 9

Prudent

Question 10

11. Reciprocal

Answer 10

Unincorporated, attorney in fact

Question 11

12. Assessment Insurer

Answer 11

charge an additional premium

Question 12

13. Adverse Selection

Answer 12

Risk against the interest of the insurer

Question 13

14. Liberalization

Answer 13

No addition premium

Question 14

15. Special form

Answer 14

Dwelling and business

Question 15

16. Liability goes back

Answer 15

Claim made form

Question 16

17. Liability pay forward

Answer 16

Occurrence form

Question 17

18. Discovery

Answer 17

Crime backward

Question 18

19. Loss sustained

Answer 18

Crime forward

Question 19

20. All Risk

Answer 19

open perils, special form

Question 20

21. DP1

Answer 20

Fire, lightning, internal explosion

Question 21

22. Absolute liability

Answer 21

Gross negligence

Question 22

23. Vicarious Liability

Answer 22

Employer responsible for employee

Question 23

Transit

Answer 23

Freight Ins

Question 24

25. Actuarial

Answer 24

Determine the rates insurers charge for their insurance products Track expense of the insurers Advise the company regarding profit and loss

Question 25

26. Stock Company

Answer 25

Owned by stockholders comp

Question 26

27. Mutual Comp

Answer 26

Owned by policyholders

Question 27

28. Reciprocal Comp

Answer 27

Unincorporated group.. run by an attorney in fact

Question 28

29. Fraternal Benefit

Answer 28

Incorporated solely on behalf of the members

Question 29

30. Captive Ins

Answer 29

forms by parents comp to coverage the parents comp

Question 30

31. Shall

Answer 30

Mandatory, required, must, no discretion

Question 31

32. May

Answer 31

Permissive, an option

Question 32

33. person

Answer 32

Any person, natural or legal

Question 33

DPI DP2 DP3

Answer 33

DP1 = Fire, lightning, internal explosion DP2 =Fire, lightning, EC, VMM, + 8 others DP3 = All Risk for dwelling and structures broad form perils for personal property