Ga property - Study guides, Class notes & Summaries

An insurer must obtain the following from the commission's before transacting insurance business - Answer-certificate of authority The guaranty fund provides coverage for unpaid health insurance claims up to: - Answer-$300,000 The commissioner may: - Answer-fine a Producer $10,000 for violating a Cease and Desist order The commissioner must inspect the records of a domestic property or life insurance company Every: - Answer-3 years An insurer may pay commissions directly to the agen...

Exam FX GA Property and Casualty 208 Questions with Complete Solutions In Return for premium, and insurance company must.. - Correct Answer Be Fair in underwriting and pay covered losses In return for premium, an insurance company must be fair and impartial in underwriting of risks and must pay claims made for all covered losses. The part of a policy that clarifies terms in the policy is the - Correct Answer Definitions The valued policy statute applies in which of the following events...

How does a broker prove they are not culpable if an agent makes a mistake? 1. Reasonable supervision was available to agent 2. Broker had nothing to do with the infraction 3. The broker did not ratify the infraction (Did not see it happen without telling them to stop) What are Trade fixtures and how can they be removed? Trade fixture - item of personal property attached to land or building leased by a tenant who uses the item in a trade or business - Can be removed before lease ends by ten...

"Your covered automobile" - all of the vehicles that you may be driving for the coverages in the policy and need coverage listed on the declarations page includes automobiles covered for newly acquired vehicles, additional and replacement Eligible Vehicles - o Private passenger automobiles o Trucks <10,000 lbs. o Vans <10,000 lbs. Owned or Leased No business activities covered for trucks and vans Financial Responsibility State - • Georgia is a financial responsibility state o...

Georgia PROPERTY & CASUALTY QUESTIONS GA EXAM LATEST UPDATE 100+ QUESTIONS AND VERIFIED CORRECT ANSWERS GUARANTEED A+ AT FIRST ATTEMPT/Georgia PROPERTY & CASUALTY QUESTIONS GA EXAM LATEST UPDATE 100+ QUESTIONS AND VERIFIED CORRECT ANSWERS GUARANTEED A+ AT FIRST ATTEMPT/Georgia PROPERTY & CASUALTY QUESTIONS GA EXAM LATEST UPDATE 100+ QUESTIONS AND VERIFIED CORRECT ANSWERS GUARANTEED A+ AT FIRST ATTEMPT

Ga Property & Casualty Insurance Study Guide with 100% Complete Solutions Personal Automobile Policy - Correct Answer ️️ -• Accounts for 40% of all premiums • Vehicles registered to individuals and operated primarily for personal activities o Driving to work is a personal activity o Policy allows use of vehicle for incidental business activities Financial Responsibility State - Correct Answer ️️ -• Georgia is a financial responsibility state o To legally operate an automobi...

GA History Exemption Test Questions and Answers 100% Pass He was a spanish explorer who marched across Mexico and conquered the Aztecs Hernan Cortes He explored deep in USA, first to discover and cross the Mississippi River and claim it for Spain Hernando de Soto This man was a member of the English Parliament who founded the colony of Georgia. James Edward Oglethorpe Who was Georgia's 3rd and final royal governor who fled the colony after the start of the American Revolution? James Wright ...

GA Auction Study Guide Exam Questions With 100% Correct Answers An auction listing contract - answerMust be written to be enforceable Seller - answerIn the contracting to operate a consignment auction this determine the rules of the sale between the auctioneer and the _____ If a public auction your seller directs you to disregard ethical behavior, you should: - answerAvoid the seller A real estate deed is a document to determine; - answerConvey land ownership An auctioneers license numbe...

GA Property & casualty Insurance Exam Questions and Answers 100% Pass Replacement cost - Correct Answer ️️ -the full cost to repair damage property or replace damaged property, with property of like kind and quality, at current pricing , without deduction for depreciation Market Value - Correct Answer ️️ -the price a willing buyer would pay for property purchased from a willing seller under fair market conditions. Stated Value - Correct Answer ️️ -means that the insurer bases ...

GA PROPERTY & CASUALTY TEST 100% CORRECT SOLVED PURE RISK - Correct Answer ️️ -TYPE OF RISK WHICH INSURANCE COMPANIES WILL INSURE IS CALLED? RANDY, THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE? - Correct Answer ️️ -MORAL HAZARD PURE & SPECULATIVE RISK - Correct Answer ️️ -THE RISK OF LOSS MAY BE CLASSIFIED AS? AGGREGATE LIMIT OF LIABILIT...