An insurer's claim settlement practices are regulated by the

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An insurer's claim settlement practices are regulated by the

A) Securities and Exchange Commission (SEC)
B) National Association of Claims Adjusters (NACA)
C) National Association of Insurance Commissioners (NAIC)
D) State insurance departments

Answer: D) State insurance departments

Basic Principles

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
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The authority granted to a licensed producer is provided via the
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Which of these would be the best example of a limited pay life insurance policy?
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What is the benefit of choosing extended term as a nonforfeiture option?
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