Fire insurance - Study guides, Revision notes & Summaries

Property and Casualty License in ArkansasWhat is Insurance? - correct answer Transfers the risk of loss from individual to insurance co. What is Risk? - correct answer Chance of loss occurring What are 3 types of Hazards? - correct answer Physical, Moral, Morale What is a Peril? - correct answer Causes of loss insured against What does Indemnify mean? - correct answer Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - correct an...

LML4805 Assignment 2 (DETAILED ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ............ Question 1: Briefly set out the legal principles established or confirmed in Littlejohn v Norwich Union Fire Insurance Society 1905 TH 374 (2) in relation to insurable interest over property belonging to a spouse. Also provide a brief summary of the facts of the case. (5) Question 2: Lentumetse Padi takes ...

AINS 103 (Latest 2023/ 2024 Update) Exploring Commercial Insurance Exam Review Questions and Verified Answers| 100% Correct| Grade A Q: Which one of the following is one of the covered causes of loss in the commercial property policy Causes of Loss—Basic form? Answer: Vandalism Q: Billy owns a baseball souvenir store in Cooperstown, NY. He insured his store under a Building and Personal Property Coverage Form (BPP) with a $275,000 limit and a $1,500 deductible. A large fire in ...

TFM 11 Questions and Answers Already Passed What is the purpose of the Texas Fire Rules 1. To regulate the planning, selling, servicing, monitoring and maintenance of fire devices and systems. 2. To prohibit the use of unrecognized devices. What does NFPA stand for? National Fire Protection Association Name a Recognized National Standards Organization? The National Fire Protection Association What is a Fire Alarm Device? Any device capable of warning, audibly or visually, that a fire has occ...

A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - 85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted theft... otherwise you'll only get 85% Various building de...

NAB test exam 2024 with complete solution graded A+ A resident was admitted to a facility on November 10th. The comprehensive assessment was completed on November 27th. Per OBRA 1987, the comprehensive assessment was completed __________________. 1. Late 2. Timely 3. Within grace period 4. In accordance with OBRA 1987 - 1. Late The __________________ has ultimate legal responsibility for the operation of a nursing facility. 1. Medical director 2. Nursing home administrator 3. Long-ter...

Transferring the risk to an insurance company is known as what? Correct Answer Insurance When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? Correct Answer Endorsement George and Sandy only home which was damaged by fire who has insurable interest Correct Answer George and Sandy What is the most common loss settlement valuation in the property policies? Correct Answer Actual cash va...

California Property and Casualty Insurance Exam Questions and Answers 100% Pass What is the required rate discount under a Good Driver Discount policy? - Correct Answer ️️ -20% below the rate the insured would have been otherwise charged for the same coverage All the following are authorized activities for the Limited Automobile Insurance Agent EXCEPT if the agent - Correct Answer ️️ -Charges and collects a brokers fee for service What is the procedure for refusing uninsured moto...

Your client calls to advise he/she needs insurance on a car leased from an automobile dealer. Which one (1) of the following policies is required? A. O.A.P. 1 Owner Form, suitably endorsed. B. O.P.F. #2 Driver's Form. C. O.P.F. #6 Non-owned Automobile Form, suitable endorsed. D. Garage Auto Form, suitably endorsed. - Answer-A. O.A.P. 1 Owner Form, suitably endorsed. Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Coverages, is usually subject to a deductible. It does no...

Incident Safety Officer (TCFP) Exam Questions And Answers 2023/2024 (Graded 100%). Which NFPA standard lists the ISO requirements, duties, and responsibilities? A) NFPA 1500 B) NFPA 1026 C) NFPA 1521 D) NFPA 1561 D) NFPA 1561 Whose role is it to focus on scene-specific operations? A) The incident commander B) The incident safety officer (ISO) C) Both the ISO and HSO D) The health and safety officer (HSO) B) The incident safety officer (ISO) Which NFPA standard currently sets the ISO ...