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Arkansas Property & Casualty Practice Exam Questions and Verified Answers (2024 / 2025) 100% Guarantee Pass $13.49   Add to cart

Exam (elaborations)

Arkansas Property & Casualty Practice Exam Questions and Verified Answers (2024 / 2025) 100% Guarantee Pass

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  • Arkansas Property & Casualty
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  • Arkansas Property & Casualty

Arkansas Property & Casualty Practice Exam Questions and Verified Answers (2024 / 2025) 100% Guarantee Pass A primary obligation of an insurance company is to Answer Pay the claims coveredunder the policy. 2. Which of the following is not a reaction to risk? Answer Accumulating Risk 3. Which of...

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  • October 25, 2024
  • 20
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Arkansas Property & Casualty
  • Arkansas Property & Casualty
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NurseFerian
Arkansas Property & Casualty Practice Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Arkansas%20Prop




Arkansas Property & Casualty Practice Exam

Questions & Verified Answers



1. A primary obligation of an insurance company is to

Answer Pay the claims coveredunder the policy.



2. Which of the following is not a reaction to risk?

Answer Accumulating Risk



3. Which of the following describes a hazard?

Answer An increase in the possibility thata loss may occur.



4. Which of the following best meets the test of the "Principle of Indemnity"?-



Answer Requiring the policyholder to carry insurance to value.


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5. The principle of indemnity is designed to avoid

Answer Overpayment of a claim



6. Which of the following losses would not be covered on an "all-risk" cropinsurance

policy?

Answer Flood



7. The Fair Plan offers what kind of coverage for individuals and businessesin high

hazard areas?

Answer Crime Insurance



8. An agent who collects premiums and converts those premiums to his ownpersonal use

is guilty of

Answer Embezzlement



9. Which of the following terms describes what is subtracted from a claimpayment to

the insured?

Answer Deductible
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10. Oral discussion prior to the development of a written contract can not beused to

extend the terms of the final document. This because of the

Answer Parol Evidence rule



11. To be licensed by more than one insurance company

Answer The agent must beappointed by each company.



12. The basic difference between the DP-1 and the DP-3 is

Answer The covered perils



13. Which of the following has the unlimited right to cancel an insurancepolicy?

Answer The client



14. The main difference between a claims made liability coverage and anoccurence

for liability coverage is

Answer The trigger


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