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Personal Lines Exam Questions And Answers With Verified Solutions Already Passed!!!
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Personal Lines Exam Questions And Answers With Verified Solutions Already Passed!!!
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Personal Lines Exam Questions AndAnswers With Verified Solutions Already
Passed!!!
declarations page includes: - ANSWER✔✔•name of insured
•address
•amount of coverage provided
•description of property
•cost of the property
insuring agreement states: - ANSWER✔✔•what is to be covered
•losses which the insured will be indemnified
•types of property covered
•perils against which it is insured
conditions - ANSWER✔✔ground rulez
conditions describe: - ANSWER✔✔the responsibilities and obligations of both the
Insurance company and the insured
duties of the insured after a loss include: - ANSWER✔✔•giving prompt notice of
claim
•protecting property from further damage
•completing detailed proof of loss
•making property available for inspection
•submitting exam under oath if required
, •assisting during claim investigation procedure
proof of loss - ANSWER✔✔policy holders statement of the amount of money
being requested, sign to and sworn by the policy holder with documentation to
support the amount requested
appraisal - ANSWER✔✔procedure when insured and insured disagree on the
amount of loss
other insurance provision - ANSWER✔✔establishes how loss is to apportioned
among insurers
elements of a contract - ANSWER✔✔1. competent parties
2. legal purpose
3. offer and acceptance
4. consideration
consideration insured gives: - ANSWER✔✔premium payment
consideration insurer gives: - ANSWER✔✔pay for certain losses
gramm leach briley - ANSWER✔✔federal law requires financial institutions to
explain how they share and protect their customers private info
fair credit reporting act - ANSWER✔✔federal law allows consumers who are
denied insurance because of I do contained in a credit report to be notified and
allowed to obtain the info used in report
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