Casualty auto insurance - Study guides, Class notes & Summaries

Property and Casualty Insurance UPDATED ACTUAL Questions and CORRECT Answers General Liability policies protect... - CORRECT ANSWER- Your business if a 3rd party is harmed as a result of your business activity Commercial Auto policies protect... - CORRECT ANSWER- Your business if you're in an auto accident while working or in a company vehicle

Property and Casualty Insurance KY ) UPDATED Exam Questions and CORRECT Answers All of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - Correct Answer- C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. ...

New York State Property and Casualty Insurance Exam (Newly Updated 2024) 1. Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is done because it is simply not practical to schedule each dealer owned vehicle for physical damage. This is generally accomplish...

Virginia Property and Casualty Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: ACV is generally used for which of the following types of claims? A Auto Physical Damage B Umbrella C Workers' Compensation D Businessowners Property Answer: Auto Physical Damage Q: A Commercial Crime policy written with the Inside the Premises - Robbery or Safe Burglary of Other Property Insuring Agreement would cover which of the following? ...

Statutes and Regulations Casualty Insurance (Illinois Property and Casualty IL Law, IL Casualty Insurance Practice Test) Questions and Answers Graded 100% 2023. When a commercial property insurance policy, in effect for more than 60 days is cancelled for an allowable reason, other than non-payment of premium, the insured must give written notice to the first named insured of at least 60 days A person is in the process of becoming permanently licensed as a producer. A temporary producers lic...

________ best describes the concept of insurance. The transfer of risk from one party to another. Which of the following supports the theory of indemnity? Depreciation On a business auto coverage form, insureds select coverage for various types of autos. Each coverage type has a numerical symbol. What is the description for symbol 22? Owned autos only Which answer fits the automobile definition of a motor vehicle? Pickup truck What is a responsibility of the Commissioner ...

If a company cancels an auto policy mid-term, the refund will be made on a : A. pro rata basis B. short rate basis C. retroactive basis D. coinsurance basis correct answers A. 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 correct answers B. Nonrenewal Which is the best example of an indirect loss? A. Sequential loss B. Liability loss C. Employ...

LOUISIANA PROPERTY AND CASUALTY INSURANCE TEST | Questions and Correct Answers | Latest Update 2024/2025 | Graded A+ Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM coverage pay? a) $125,000 b) $75,000 c) $50,000 d) $25,000 - Answer -c) $5...

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 ...

Pearson VUE: Casualty Insurance Practice Exam Already Passed Graded A+ 2024/2025 An insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone Correct Answer: C In insurance, which of the following terms refers to continuous or repeated exposure to conditions that may r...