Flood insurance - Study guides, Class notes & Summaries

2 reasons - No Flood - Catastophic, adverse selection Watercraft Policy - Open cockpit, 26 feet or less in length Absolute Liabilty - Strong Liklihood of harming others Intervening Cause - Disruption in chain of events Negligence - LBPD - Legal Duty Owed, Breach of Legal Duty, Proximate Cause, and Damages. 25 mph - What is the maximum horesepower a boat can have and be covered under a H.O. Policy Personal Liability Coverage - Single Occurrence Limit - $100,000 - non business activities De...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

ANFI 205 Sample Exam with complete solutions One purpose of the National Flood Insurance Act of 1968 is to encourage state and local governments to - ️️ Wisely use the lands by considering the hazards of flood. What is the initial phase of a community's participation in the National Flood Insurance Program (NFIP) called? - ️️ Emergency Program Increased Cost of Compliance (ICC) coverage is mandatory for all Standard Flood Insurance Policies with four exceptions. One of these ex...

FEMA Flood Insurance Certificate Exam 2023 One of the three purposes of the original National Flood Insurance Act, passed in 1968, was to - ️️ Foster cooperative effort between the federal government and the private insurance industry to authorize a nationwide flood insurance program To be eligible for federal flood insurance, a building must - ️️ Have two or more outside rigid walls, a fully secured roof, and be attached to a permanent site If a community which the Federal Emergen...

Are mobile homes eligible for flood insurance coverage? What about construction sites? What about contents? CORRECT ANSWER -mobile homes are eligible if they are affixed to permanent site -construction is eligible, and insurance can be purchased to keep pace with construction -Contents are eligible ONLY if property is also insured. When is flood insurance required? CORRECT ANSWER Required for term of loans when bank makes, increases, extends, or renews (MIRE) a loan that is... 1-secured by...

NY Independent General Adjuster Exam - Series 17-70 Questions and Answers 100% Pass Dram Shop Liability refers to: Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? Neglect. To be eligible for the New York assigned risk auto plan a person must: Hold a valid driver's license. Any insurance...

The purpose of the flood insurance requirements is to: CORRECT ANSWER Inform and protect A home equity loan is not considered eligible for flood insurance. CORRECT ANSWER F An SFHDF is used to determine: CORRECT ANSWER Whether the property lies in an SFHA A detached structure that is joined by a structural connection to a part of a residential property is considered exempt from the flood insurance requirements. CORRECT ANSWER F NFIP insurance is available for: CORRECT ANSWER Resident...

ADJUSTER PRO EXAM WITH REVISED ANSWERS (2023) Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - CORRECT ANSWER-Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - CORRECT ANSWER-It automatically covers wind and vandalism. Which of the following refers to being restored to the ...

NATIONAL FLOOD INSURANCE POLICY (NFIP) QUIZZES & ANS 2024!!

Since Hurricane Sandy, there has been increasing policymaker attention on (4 CORRECT ANSWER - Effectiveness of the exiting national program for floodplain management in reducing losses from weather related coastal hazards - Aging coastal protection infrastructure & increasing vulnerability to storm impacts - Low participation in the National Flood Insurance Program (NFIP) - Increasing cost of flooding to the taxpayers There are concerns that storms of Sandy's strengths will occur more fre...