Exam (elaborations)
GA PROPERTY & CASUALTY TEST Exam Questions and Answers (Latest Update 2023 Verified Answers)
- Course
- Institution
GA PROPERTY & CASUALTY TEST Exam Questions and Answers (Latest Update 2023 Verified Answers)
[Show more]
Content preview
GA PROPERTY & CASUALTY TEST Exam Questions and Answers (Latest Update 2023 Verified Answers)PURE RISK - Correct Answer ✅TYPE OF RISK WHICH INSURANCE COMPANIES
WILL INSURE IS CALLED?
RANDY , THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE?
- Correct Answer ✅MORAL HAZARD
PURE & SPECULATIVE RISK - Correct Answer ✅THE RISK OF LOSS MAY BE CLASSIFIED AS?
AGGREGATE LIMIT OF LIABILITY - Correct Answer ✅Defined as the MAXIMUM LIMIT of coverage available under a liability policy DURING A POLICY YEAR- irregardless of the number of choices that may occur
COMBINED SINGLE - Correct Answer ✅MAMA IS DRIVING HER CAR THROUGH A RESIDENTIAL AREA AND LOOSES CONTROL OF THE CAR AND CRASHED INTO CASY'S FRONT PORCH. CASEY GETS INJURED. MAMA'S LIABILITY INS. POLICY HAS A LIMIT SET AT $500,000. THIS AMOUNT APPLIES TO THE TOTAL OF DAMAGES FOR ANY BODILY INJURY AND PROPERTY DAMAGE RESULTING FROM ONE ACCIDENT. GA PROPERTY & CASUALTY TEST Exam Questions and Answers (Latest Update 2023 Verified Answers)
Which type of limit of liability does Mama have?
RETENTION - Correct Answer ✅WHEN A PERSON DECIDES NOT TO BUY INSURENCE BECAUSE OF THE COST - WHAT METHOD OF RISK AS BEEN UNDERTAKEN?
THE LAW - Correct Answer ✅LEGAL LIABILITY IS WHEN A PERSON IS CONSIDERED LIABLE FOR DAMAGE ACCORDING TO?
RETENTION - Correct Answer ✅WHEN APRIL PURCHASED AN INSURENCE PLOICY WITH A LARGE DEDUCTIBLE - WHAT RISK MANAGEMENT TECHNIQUE
WAS SHE PARCTICING?
APPRAISAL, CANCELLATION & NON-RENEWAL, AND
SUBROGATION - Correct Answer ✅WHAT ARE THE 3 CONDITIONS COMMONLY FOUND IN THE INSURENCE POLICY?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Allivia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81311 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now