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Personal Lines Final Exam 2 Questions And Answers With Verified Solutions Already Passed!!!
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Personal Lines Final Exam 2 Questions And Answers With Verified Solutions Already Passed!!!
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Personal Lines Final Exam 2 QuestionsAnd Answers With Verified Solutions
Already Passed!!!
On an HO-3 ('00) policy, freezing of plumbing is covered:
A) Regardless
B) If the heat was left on
C) Only if the home is unoccupied
D) Never - ANSWER✔✔B) If the heat was left on
An HO-3 policy is written with a policy limit of $300,000 on a house that has a
replacement cost of $500,000. If the insured suffers a $60,000 loss, how much will
the insurer pay:
A) $24,000
B) $36,000
C) $45,000
D) $60,000 - ANSWER✔✔C) $45,000
On property claims, proof of loss must be submitted within:
A) 30 days
B) 60 days
C) 90 days
D) 180 days - ANSWER✔✔B) 60 days
An insurance contract cold w/o any negotiation is considered to be:
A) Aleatory
, B) Unilateral
C) Conditional
D) Invalid - ANSWER✔✔B) Unilateral
A client's reasonable expectation of coverage is most closely associated with the:
A) Principle of indemnity
B) Doctrine of adhesion
C) Legal precedent
D) Doctrine of utmost good faith - ANSWER✔✔B) Doctrine of adhesion
Wet leaves on the sidewalk are considered to be:
A) Hazard
B) Peril
C) Risk
D) Loss - ANSWER✔✔A) Hazard
The "special provisions" endorsement added to some policies contains:
A) The provisions common to all P&C policies in general
B) The provisions required to be added by state law
C) The all risk provisions unique to a special form policy
D) The special limitations on certain HO policies on jewelry, furs and guns -
ANSWER✔✔B) The provisions required to be added by state law
On an HO policy, all are true about subrogation, EXCEPT:
A) It applies to all parts of the policy
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