Named peril - Study guides, Class notes & Summaries

The coverage territory of the Business Auto form provides for "worldwide liability coverage" for private passenger autos that the insured: a) Hires, leases, rents or borrows without a driver while outside the United States, its territories and possessions. b) Purchases while outside the United States, its territories and possessions. c) Sells while outside the United States, its territories and possessions. d) Occupies while outside the United States, its territories and possession...

Alabama AdjusterPro Exam for P&C with WC and Crop (2023) Alabama AdjusterPro Exam for P&C with WC and Crop (2023) 1: Incorrect Indemnification may include all of the following except: reimbursement for hotel costs. reimbursement for rental car costs. Answer Given payment for repairs to property. Actual Answer payment for pain and suffering. 2: Correct What is a reserve, in insurance terms? The amount of revenue that the insurer sets aside to pay employee s...

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 ...

ACA Final Exam Questions and Answers 2023 At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters Set rates and write policies ...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...

Insurance Adjuster Exam Questions and Answers Rated A+ Which kind of losses are covered under a standard fire policy? Direct All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the insur...

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...

eal property is - Answer-comprised of buildings, structures and fixtures that are tangible. Real property can be seen. Give examples of Real Property - Answer-Land is real property, but it is generally not the subject of insurance. Buildings are real property. They have walls and a roof. You can probably envision many types of buildings, ranging from a small one-story office to a skyscraper. Structures. A structure is any construction, including buildings. However, examples of structures t...

Idaho Property Insurance Certification Exam Questions and Answers 2024 Any financial interest in life or property such that, if the life or property were lost or harmed, the insured would suffer financially. Express Interest Insurable Interest Implied Interest Real Interest - CORRECT ANSWER-Insurable Interest What are the 3 elements of insurable risk? Financial, Business, Loss Blood, Loss, Interest Financial, Blood, Business Business, Blood, Body - CORRECT ANSWER-Financial, Blood, ...

NJ Property, Casualty, and Auto Licensing Exam Latest Version Graded A+ Insuring Agreement company's obligation to pay, includes the perils and coverage for specific or named peril policies Exclusions what the policy will not pay for Definitions names of the persons insured in addition to the named insured are listed here, along with any other (blank) of terms in the policy Additional Coverage coverages under a policy that are provided by the insurer at no extra cost Casua...