he consideration paid by insured in a contract of in - premium C. prepaid insurance insurance expense D. either B or C
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- The contract between insured and insurer is ______________. a. Coverage b. Premium c. Policy d. Face valueAn insurance refers to a signed agreement between the insured and the insurer. a. Security b. Certificate c. Premium d. PolicyAn insurance refers to a signed agreement between the insured and the insurer. O a. Certificate O b. Premium O c. Security O d. Policy
- The company selling the insurance policy is the _________________. a. Insurer b. Policy c. Premium d. InsuredThe policy holder who receives the coverage is called ________________. a. Premium b. Face value c. Insured d. InsurerC. Claim form D. Policy form 20. The written insurance document that may include all clauses, exception and conditions is called O A. endorsement O B. claim form O C. certificate of insurance O D. policy form 21. What is the form that filled out by insured if a loss is suffered? *
- Define insurance expense.Prepaid insurance is reported on the balance sheet as a a.long-term liability b.current asset c.current liability d.fixed assette of insurand O D. policy form 21. What is the form that filled out by insured if a loss is suffered? * O A. Loss form B. Completion notes C. Endorsement D. Claim form 22. is the application document used for making the proposal.
- Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A Notice Regarding Replacement of Life Insurance or Annuity B.A Notice Regarding Insurance Producer Compensation Schedule C.A Statement of Ethical Practices D. A Comparative Information formInsurance policies form the basis of an insurance company’s ________________. a. Financial securities b. Financial liabilities c. Financial assets d. Net policy reservesChoose an example of non-current liability. O a. Interest payable O b. Bonds payable Oc. Wages payable O d. Accrued expense
