Exam (elaborations)
Property and Casualty Exam Questions and Answers
- Course
- Institution
Property and Casualty Exam Questions and Answers
[Show more]
Content preview
Property and Casualty Exam Questionsand Answers
would otc cover a laptop or briefcase stolen from my car? Correct Ans-personal property is
usually not covered
disability income insurance Correct Ans-type of health insurance that pays a monthly income
to the insured if he/she is sick or injured and cannot work. Pays partial portion
cargo insurance covers Correct Ans-merchandise being shipped
what is the mini-tail on claims made commercial general liability? Correct Ans-automatically
gives 60 days to report a claim after the policy period
pre-existing condition Correct Ans-a health condition or sickness that occurred prior to the
issuing of a health policy
hull covers Correct Ans-physical damage to insured's ship or yacht
endorsement Correct Ans-written agreement attached to a policy to add or subtract
insurance coverages
broad form of coverage for personal property of a condo owner Correct Ans-h06
,physical hazard Correct Ans-disctinct characteristics arising from material, structural, or
operational features that increase a chance for loss ie being next to a nuclear power plant
workers comp insurance Correct Ans-insurance purchased by employers to cover their
employees in case a worker is hurt on the job
renters Correct Ans-h04
a, b, and c in a homeowners policy are? Correct Ans-a=dwelling, b=other structures,
c=personal property
in a contract who is we? Correct Ans-the insurer
standard risk Correct Ans-classification of risk that is normal
risk Correct Ans-uncertainty of loss. a risk must be uncertain to be insurable
raising the deductible Correct Ans-lowers the premium because small claims are eliminated
is a building under constructin vacant? Correct Ans-no
, repair, replace, acv Correct Ans-the amount a company pays on a damaged or stolen vehicle
whatever is less
insurable interest Correct Ans-financial interest
a,b,c of commecial liability cgl are: Correct Ans-a-bodily injury and property damage, b-
personal and advertising injury, c-medical payments
underwriter Correct Ans-a person whos job it is to assess risk and determine classification of
the insured. (an agent is a field underwriter)
noncontributory benefits Correct Ans-a life or health insurance plan that an employer
provides for employees in which the employee does not pay any part of the premium
minimum good driver discount Correct Ans-20%
a vehicle for hire, to transport people eg limo Correct Ans-livery
dwelling or homeowners which has broader coverage? Correct Ans-homeowners
acv Correct Ans-replacement cost-depreciation
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamRoom. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76799 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now