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RMI 3011 FSU EXAM 2 RMI 3011 Florida State University -Question and answers verified to pass $13.49   Add to cart
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RMI 3011 FSU EXAM 2 RMI 3011 Florida State University -Question and answers verified to pass
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RMI 3011 FSU EXAM 2 RMI 3011 Florida State University -Question and answers verified to pass declarations - correct answer statements that provide information about the particular property or activity to be insured Definitions - correct answer Insurance contracts typically contain a page or ...

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  • November 30, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • rmi 3011 fsu exam 2
  • rmi 3011 fsu exam 2 question and answers verified
  • rmi 3011 fsu exam 2 rmi 3011 florida state univers

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RMI 3011 FSU EXAM 2 Question and
answers verified to pass
declartions - correct answer ✔statements that provide information about the
particular property or activity to be insured


Definitions - correct answer ✔Insurance contracts typically contain a page or
section of definitions. Key words have quotation marks around them ("...")


Insuring Agreement (Clause) - correct answer ✔summarizes the major
promises of the insurer.


The two basic forms of an insuring agreement in property insurance are: -
correct answer ✔Named perils coverage / Open-perils, or special coverage


Named perils coverage - correct answer ✔where only those perils
specifically named in the policy are covered


Open-perils, or special coverage - correct answer ✔where all losses are
covered except those losses specifically excluded


Exclusions - correct answer ✔insurance contracts contain three major types
of exclusions


Excluded perils - correct answer ✔e.g. flood, intentional act


excluded losses - correct answer ✔A professional liability loss is excluded in
the homeowners policy

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