An umbrella policy - Study guides, Class notes & Summaries

Florida Claims Adjuster Exam 2023 1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 5. Concealment: Th...

GA Insurance Adjuster Course Exam Questions and Answers 100% Pass Six Special Characteristic of Insurance Contracts - Correct Answer ️️ -Personal, Adhesion, Utmost Good Faith, Aleatory, Unilateral, Condition Coverage F - Correct Answer ️️ -Medical Payments Umbrella - Correct Answer ️️ -An umbrella policy provided liability coverage over and above the normal or base limits of liability in a policy. An umbrella policy is a type of excess policy Risk Transference - Correct Answe...

Property and casualty insurance Exam Questions and Answers Updated Nov 2022. A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of A builder's risk form is most often written as which of the following? A building is insured, but no one has lived or worked in it for 10 years. The building is completely empty of any furniture or perso...

AINS Quiz | 713 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: - Commercial general liability - Auto liability - Replacement liability - Employers liability - Replacement liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Drop-down coverage ...

AINS Quiz 713 Questions and Answers 100% Solved Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: Commercial general liability Auto liability Replacement liability Employers liability - Replacement liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Drop-down coverage Which one of the following statements a...

Guarantee ExamFX, Idaho Personal Lines Simulation Exam with Complete Solutions In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property covered by a dwelling policy. How many deductibles will the insured have to pay before the policy covers the damages caused by the eruptions? 1. Zero 2. One 3. Two 4. Three one In a personal auto policy (PAP), a covered auto includes all of the following EXCEPT 1. A trailer owned by the insured. 2. A farm i...

NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license What is the preferred method of creating an agency relationship? expressed agency An amenity purchaser occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. real / deed A salesperson who is an independent contractor is not subject to withholding r...

Conduct and Practices Handbook (CPH) Exam 136 Questions with Answers Duty of care - CORRECT ANSWER This refers to obligation #3 of registered representative (RR) about acting honestly, in good faith, and in a professional manner. This is a requirement to provide advice to clients with those attributes in mind along with the proper skills and knowledge to do so. It is important to note that the standard of care provided is not a standard of perfection. RRs are usually held to this standard muc...

CMCA PRACTICE EXAM QUESTIONS AND ANSWERS 100% PASS Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D. Verifying contractor insurance. B Legal review prior to executing a contract will assist the association in the event that: A. A subcontractor is used. B. A performance bond is required. C. There is a budgetary shortfall. D. The board has questions or concerns. D Rather tha...

Under Part A of a Personal Auto Policy, which of the following losses would be covered? A.) Damage to property being transported by the insured B.) Damage to a neighbor's parked car C.) Damage to a neighbor's lawn mower in the care of the insured D.) Damage to the home the insured owns - B.) Damage to a neighbor's parked car Which of the following is true regarding the Fine Arts Floater? A.) Coverage is limited to the United States, Canada, and Mexico B.) Coverage is primarily for stam...