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20-44 Personal Lines Practice Exam Questions With fully Worked-Out Solutions CA$14.17   Add to cart

Exam (elaborations)

20-44 Personal Lines Practice Exam Questions With fully Worked-Out Solutions

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  • 20-44 Personal Lines

What is the windshield deductible for Florida? - CORRECT ANSWER-No deductible What is Arbitration? - CORRECT ANSWER-PROCEDURE in which an insurance company and the insured or a vendor agree to settle a claim dispute by accepting a decision based on a third party What is Appraisal? - CORRECT A...

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  • August 13, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • 20-44 Personal Lines
  • 20-44 Personal Lines
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20-44 Personal Lines Practice Exam
Questions With fully Worked-Out
Solutions

What is the windshield deductible for Florida? - CORRECT ANSWER-No deductible



What is Arbitration? - CORRECT ANSWER-PROCEDURE in which an insurance
company and the insured or a vendor agree to settle a claim dispute by accepting a
decision based on a third party



What is Appraisal? - CORRECT ANSWER-A SURVEY that determines value (not
coverage) of property without legal action



What is the definition of Assignment? - CORRECT ANSWER-A transfer of legal rights
under, or interest in, an insurance policy to another party



How is assignment used or not used in insurance? - CORRECT ANSWER-One cannot
transfer policy to another without the company's written permission. Not valid without
insurers consent in writing.



What is the "Fair Credit Reporting Act"? - CORRECT ANSWER-A federal act aiming to
promote the fairness and accuracy of information contained in consumer reports



How do carriers use the Fair Credit Reporting Act for underwriting? - CORRECT
ANSWER-



What is the Terrorism Risk Insurance Act (Terrorist Act)? - CORRECT ANSWER-
Federal legislation enacted in 2002 to guarantee the availability of reinsurance coverage
against acts of terrorism.



What does TRIA include or exclude? - CORRECT ANSWER-1. an act of terrorism

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