100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Alabama Insurance: Property and Casualty Test Questions with 100% Correct Answers $9.99   Add to cart

Exam (elaborations)

Alabama Insurance: Property and Casualty Test Questions with 100% Correct Answers

 3 views  0 purchase
  • Course
  • Alabama Insurance
  • Institution
  • Alabama Insurance

Alabama Insurance: Property and Casualty Test Questions with 100% Correct Answers An incorporated insurance company which is run by a board of directors is known as - Answer️️ -a capital-stock company Which of the following statements is true regarding a binder? a. a binder guarantees that...

[Show more]

Preview 2 out of 7  pages

  • August 28, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Alabama Insurance
  • Alabama Insurance
avatar-seller
SophiaBennett
©SOPHIABENNETT@2024-2025 Saturday, August 24, 2024 8:52 AM


Alabama Insurance: Property and Casualty
Test Questions with 100% Correct Answers

An incorporated insurance company which is run by a board of directors
is known as - Answer✔️✔️-a capital-stock company

Which of the following statements is true regarding a binder?

a. a binder guarantees that a policy will be issued by the insurance
company.

b. a binder guarantees coverage and that a policy will be issued

c. a binder does not guarantee that a policy will be issued; it only
guarantees temporary coverage.

d. a binder does not afford any coverage, it is merely a snapshot of the
coverage in effect at the time it is issued. - Answer✔️✔️-c

Liability imposed by law when someone is involved in an inherently
dangerous activity or condition is known as - Answer✔️✔️-absolute liability

Which of the following elements of a contract does the premium represent?

a. offer and acceptance

b. competent parties

c. valid consideration

d. legal purpose - Answer✔️✔️-c




1

, ©SOPHIABENNETT@2024-2025 Saturday, August 24, 2024 8:52 AM

Contracts written for a specified amount as agreed to by both the insured
and insurer at policy inception are known as - Answer✔️✔️-valued or stated
value contracts

All of the following must be present to establish negligence except

a. duty owed and breach of that duty

b. a proximate cause of loss

c. damages must exist

d. hazardous operations are involved - Answer✔️✔️-d

The clause of an insurance contract that provides for equitable handling of
loss settlement disputes is the - Answer✔️✔️-appraisal or arbitration clause

The portion of the premium due the insurance company for coverage
afforded under the insurance contract is the - Answer✔️✔️-earned premium

Coverage C under the dwelling policy

a. will pay for losses to a detached garage

b. will provide worldwide coverage up to 10% of the coverage C amount

c. pays up to 10% of the Coverage A limit for loss of rental value

d. pays for the expense of removing debris resulting from a covered
property loss - Answer✔️✔️-b

The coverage provided only by the DP-2 and DP-3 dwelling fire forms is -
Answer✔️✔️-additional living expense



2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 SophiaBennett. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75057 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart