Retroactive date - Study guides, Class notes & Summaries

Contributory Plan CORRECT ANSWER Used in a group Insurance. Employee and employers share in the paying of premiums DP-1,DP-2, DP-3 All 3 dwelling forms cover? CORRECT ANSWER Loss of rental income Comparative Negligence CORRECT ANSWER You can file a claim, but damages are reduced based on that party's negligence. What has a single limit? CORRECT ANSWER Property Damage. Ordinance or law CORRECT ANSWER An endorsement for building code upgrades. What is the penalty for not carrying t...

NJ Casualty ExamOn a CGL, the ____1____ limits apply separately for each claim, but the ____2____ limit applies to all claims turned in during the policy period. - correct answer 1. Occurrence. 2. Aggregate. The CGL always contains 3 coverage sections: Part A, Part B, and Part C. There is NO ______________. - correct answer Part A - Liability Part B - Personal/Advertising Injury Part C - Medical Payments to Others. - THERE IS NO DEDUCTIBLES. On a CGL Policy, the "Medical to Others" c...

All the following are considered an insured under Part A liability coverage, of the personal auto policy EXCEPT! CORRECT ANSWER Employer while insured is driving a company car. A bank customer's identity was compromised and the thieves made numerous purchases from a retailer by signing the customer's checks. When the bank refused to make payment for the goods, the retailer brought suit against the bank. which coverage indemnified the bank for liability in the suit? CORRECT ANSWER Forgery an...

Property & Casualty - PA - Insurance Regulation Latest 2024 Graded A+ Purpose of insurance regulation. Assure the public is treated fairly and equitably. Requirements to be licensed. Pre-licensing requirements, pass the exam, pay application fee Producer's license. Permitted to legally sell, solicit and negotiate contracts of insurance. Licensing requirements. 24 credit hours, pass exam, 18 yrs. or older, able to read and write English, not be a criminal, pay all fees, have profes...

Types of Casualty Policies, Bonds and Related Terms Verified Answers personal injury ️injury to a persons character advertising injury ️nonphysical injury to a business (defamation) coverage territory ️-united states -US territories and possessions -Canada premise and operations ️hazards related to ownership, maintenance or use of the insured's premises and all business operations premises liability ️any losses on premises operations liability ️losses from services or...

Alabama Property and Casualty Exam Questions and Answers Graded A+ 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 lo...

PROPERTY & CASUALTY QUESTIONS GA EXAM QUESTIONS AND ANSWERS 100% PASS The arbitration clause in a personal auto policy would be used in which of the following circumstances? A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement regarding the settlement of a claim. B. The insured and an injured 3rd party cannot reach an agreement regarding the settlement of a claim. C. The court have ruled against an injured 3th party. - Correct Answer ️️ -B. The ...

PROPERTY & CASUALTY QUESTIONS GA EXAM QUESTIONS AND ANSWERS 100% PASS The arbitration clause in a personal auto policy would be used in which of the following circumstances? A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement regarding the settlement of a claim. B. The insured and an injured 3rd party cannot reach an agreement regarding the settlement of a claim. C. The court have ruled against an injured 3th party. - Correct Answer ️️ -B. The ...

CFCM Study Guide: FULL TEST EXAM QUESTIONS WITH 100% CORRECT ANSWERS CFCM Study Guide: FULL TEST EXAM QUESTIONS WITH 100% CORRECT ANSWERS _____________ may be used for emergency acquisitions when contract performance must begin immediately. a. Simplified acquisition procedures b. Contract purchasing personnel. c. Letter contracts d. Government-wide purchase cards - Answer c. Letter contracts FAR 18.112 "Effective date" means the following: a. It i...

Accident - CORRECT ANSWER-A sudden, unforeseen, unintended, and unplanned event from which loss or damage results. Occurrence - CORRECT ANSWER-An accident includes continuous or repeated exposure to the same general harmful conditions. Cancellation - CORRECT ANSWER-The termination of an insurance policy before its expiration date. Once cancelled, a policy provides no coverage. A policy may be cancelled by the insured or insurer. Pro Rata Cancellation - CORRECT ANSWER-A proportionate cance...