Arkansas property & casualty chapter 7 questions with answers graded A+ 2024

Arkansas property & casualty chapter 7 pair and set clause - correct answer coverage is written on a valued or ACV basis and appraisal is required personal effects floater - correct answer this floater covers personal property on an open perils anywhere in the world except the insureds premises section 1 boat owners policy - correct answer the hull, motor, trailer, equipment, accessories are covered on a open perils basis DIC insurance - correct answer difference in conditions insurance fills in insurance gaps and covers perils that are excluded form standard policy ( such as flood) and excludes perils that r covered under standard policy Earthquake Endorsement - correct answer Covers earthquakes, landslides, volcanic eruption, and earth movement...must occur with in 72 hours to be considered a single occurrence NFIP ( National flood insurance program) - correct answer communities in flood prone areas must have a flood control program in order to benefit from the NFIP..sells flood insurance in participating communities NFIP coverage limit - correct answer NFIP offers up to $ 100,000 coverage for residential and non residential structures fair access to insurance requirement program - correct answer farm property is not eligible, some incidental business use of the farm property is allowed personal umbrella policy - correct answer the umbrella acts as an excess liability policy over the limits of the underlying policies...