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Unit 1-9 Personal Lines Checkpoint Exam Questions And Answers With Verified Solutions Already Passed!!! $12.49   Add to cart
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Unit 1-9 Personal Lines Checkpoint Exam Questions And Answers With Verified Solutions Already Passed!!!
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Unit 1-9 Personal Lines Checkpoint Exam Questions And Answers With Verified Solutions Already Passed!!!

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  • October 2, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • unit 1 9 personal lines checkpoint exam questions
  • at the state level the government is involved in
  • all of the following are true regarding mutual ins
  • all of the following are true regarding surplus li

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  • Personal lines
  • Personal lines

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Unit 1-9 Personal Lines Checkpoint
Exam Questions And Answers With
Verified Solutions Already Passed!!!
At the state level, the government is involved in - ANSWERS✔✔providing
unemployment insurance


All of the following are true regarding mutual insurers - ANSWERS✔✔- Mutual
insurers do not guarantee dividends
- Mutual insurers pay dividends to policyholders
- A mutual insurer is owned by it's policyholders


All of the following are true regarding surplus line insurers - ANSWERS✔✔-
Surplus line insurance covers high risk exposures
- States keep a list of acceptable surplus line insurers
- Surplus lines insurance is placed with a Non-admitted carrier by a surplus line
agent


Josephine sells insurance for one company and is an independent contractor, not an
employee of the insurer. She is.. - ANSWERS✔✔a CAPTIVE agent, because she
sells insurance for ONE company


The owner of a house left a can of gasoline can too close to a source of heat in the
garage. If the house burns down because the can of gasoline exploded, the cause of
loss is defined as a - ANSWERS✔✔Peril. Peril = Fire, Lightning, Internal
explosion


Which of the following represents a pure risk? - ANSWERS✔✔A car accident.
Pure risk means there is nothing to gain.

, According to the law of agency, the person on whose behalf the insurance agent is
called upon is the - ANSWERS✔✔Principal (Also known as the insurer)


Which of the following elements consists of an offer and an acceptance? -
ANSWERS✔✔Agreement. Acceptance = Agreement


All of the following statements about unilateral contracts are true -
ANSWERS✔✔- Insurance policies are unilateral
- As long as the insured pays premiums, the insurer is required to pay for losses
- The insured can stop paying for premiums and abandon the insurance at any time


Statements provided by an applicant for insurance are considered to be -
ANSWERS✔✔representations. Representations = Statements.


Edward is applying for an auto insurance policy for him and his son Bradley.
Edward knows that Bradley has had three speeding tickets in the past year, but did
not tell the agent this while filing out the application. This is an example of -
ANSWERS✔✔Concealment


All of the following statements regarding property insurance are true -
ANSWERS✔✔- Protection on belongings
- Pays the insured
- Protection from damage from theft


Anyone with an ongoing relationship with a financial consumer is considered a -
ANSWERS✔✔customer! (like with fast food resturants)

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