Property and Casualty Insurance Bundled Exams with complete solution everything you need | 2023

Which peril is covered under the Dwelling Form DP-1? A Weight of ice, snow or sleet B Lightning C Falling objects D Freezing - lightning Which of the following is an example of a peril? A Indifference B Unlocked front door to a home C Earthquake D Gasoline stored on the premises - E...

Bailee - An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - A property policy prov...

Insurance - The transfer of risk through a legal contract Property - Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty - covers non-property losses (3rd Party) Personal lines - Insurance for families and individuals Co...

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - true which of the following coverages does an open peril policy provide? - perils other than those specifically named ...

Which of the following are the authorities that an agent can hold? - Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) p...

Specific insurance - This type of insurance designates a particular item to be insured Blanket insurance - This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - possibility of both gain and loss. Not in...

An insurance producer license is required of an individual to: - Solicit- sell or ask person to apply Negotiate- confer/offer advice, quoting rates Sell- binding, renewing Give advice for a fee Receive commission Brokering - broker is a producer who arranges policies for insureds through insura...