Property and Casualty insurance exam//Property and Casualty Insurance EXAM//GA PROPERTY & CASUALTY TEST//Idaho Property & Casualty Exam Prep//Idaho Property & Casualty Exam Prep//california property and casualty exam//Property and casualty insurance Exam

Specific insurance - Answer- This type of insurance designates a particular item to be insured Blanket insurance - Answer- This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - Answer- possibility of...

PURE RISK - Answer- TYPE OF RISK WHICH INSURANCE COMPANIES WILL INSURE IS CALLED? RANDY, THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE? - Answer- MORAL HAZARD ...

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate coopera...

The process where by a mutul insurer becomes a stock company is called Demutalization The process whereby a stock company a mutal insurer is called Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is Valuation clause ...

Which of the following are the authorities that an agent can hold? - Answer- Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - Answer- Permanent partial disability Who is NOT considered an employee in an commercial genera...

PURE RISK - Answer- TYPE OF RISK WHICH INSURANCE COMPANIES WILL INSURE IS CALLED? RANDY, THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE? - Answer- MORAL HAZARD ...

Bailee - Answer- An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - Answer- Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - A...

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - Answer- true which of the following coverages does an open peril policy provide? - Answer- perils other than those spe...