Spoilage coverage Study guides, Class notes & Summaries

Types of Dwelling Properties - Correct Answer- 1. 1 to 4 family 2. Rented to Others 3. Owned by Corp. or Partnerships 4. Low Valued 5. Mobile Homes Standard Dwelling Property Deductible - Correct Answer- $500 Dwelling Property Coverage A - Correct Answer- Dwelling - Including permanently installed building equipment and outdoor equipment to service property. No land. Dwelling Property Coverage B - Correct Answer- Other Structures (Detached) Dwelling Property Coverage C - Correct Answer-...

Property and Casualty Adjuster Exam Questions and Answers 100% pass Indemnity - Answer- Insured restored to approximate financial condition as before loss occurred, no better or worse Independent Adjuster - Answer- must represent more than 1 company Binder - Answer- Commits company to act as if the policy has been issued, temporary contract, initiate coverage, oral or written, expires when policy coverages begins Consideration - Answer- insurer's promise to provide indemnity in the event...

State Farm Property Exam Questions with 100% Correct Answers How long is the waiting period after the application has been accepted before flood coverage goes into effect? the waiting period is 30 days as required by the Nation flood insurance program which of the following Is covered under the camera and musical instruments dealers floater a customers camera left at a camera shop for repairs when an umbrella policy is broader than underlying insurance and it pays a loss that is not...

Personal Lines Insurance Exam Questions 100% Answered 2024/2025 Risk _________ is when one takes action to prevent or reduce potential loss. - answerReduction When the number of similar units increases, the predictability of the loss improves according to the rule of _____ ________. - answerLarge Numbers The insuring of risks that are more prone to losses than average risks is known as? - answerAdverse Selection A ___________ contract is an arrangement where one insurer transfers or shar...

personal lines insurance 2024 Latest Risk _________ is when one takes action to prevent or reduce potential loss. - ANSWER Reduction When the number of similar units increases, the predictability of the loss improves according to the rule of _____ ________. - ANSWER Large Numbers The insuring of risks that are more prone to losses than average risks is known as? - ANSWER Adverse Selection A ___________ contract is an arrangement where one insurer transfers or shares risks with another...

Personal Lines Insurance Exam Questions 100% Answered 2024/2025 Risk _________ is when one takes action to prevent or reduce potential loss. - answerReduction When the number of similar units increases, the predictability of the loss improves according to the rule of _____ ________. - answerLarge Numbers The insuring of risks that are more prone to losses than average risks is known as? - answerAdverse Selection A ___________ contract is an arrangement where one insurer transfers or shar...

Casualty Insurance Exam All Answers Correct Employee theft coverage may be written as ️a) Blanket coverage. b) Name schedule coverage. c) Position schedule coverage. d) Any of the above. Employee theft may be written as any of the above forms. An insured is applying for a casualty insurance policy. One of the conditions of the policy allows the insurance company to inspect the insured's books at the end of the policy term to make sure sufficient premium has been collected for ...

PSI PROPERTY AND CASUALTY EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED 2024 LATEST UPDATE What will happen if a house covered by a standard mortgage clause is a total loss? The insurer pays the mortgage according to the mortgagee's interest in the property Which coverage form would provide coverage for all incoming and outgoing shipments? Annual transit Tom's Truck Service's vehicle is stolen. The policyholder may obtain coverage for transportation expenses subject to wh...

An earned premium resulting from the cancellation of a policy is calculated on: Correct Answer On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: Correct Answer Excess Direct Coverage An insurance company writing business in a state other than the one in which it is domiciled is called: Correct Answer a Foreign Y...

State Farm Questions and Answers 100% Verified 2023|2024 the waiting period is 30 days as required by the Nation flood insurance program How long is the waiting period after the application has been accepted before flood coverage goes into effect? a customers camera left at a camera shop for repairs which of the following Is covered under the camera and musical instruments dealers floater Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds ...