Example of severability - Study guides, Class notes & Summaries

Florida Claims Adjuster Exam 3 | 207 Questions with 100% Correct Answers best solutions 2023/2024/2025 Severability - ANSWER Insurance applies separately to each insured as if other insureds did not exist. Abandonment - ANSWER Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - ANSWER One wherein economic loss would be suffered from an adverse happening t...

This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: A. Waiver of Subrogation B. Waiver of Premium C. Waiver of Value D. None of the Above B. Waiver of Premium "premiums are waived" Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. T...

Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it is up to the additional interests on working out ...

Florida Claims Adjuster Exam 3 Questions with Verified Answers| Latest 2023/2024 This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: A. Waiver of Subrogation B. Waiver of Premium C. Waiver of Value D. None of the Above -- B. Waiver of Premium "premiums are waived" Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The in...

Florida Claims Adjuster Exam Questions And Correct Answers Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - answerD. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made ...

Florida Insurance Exam All Answers Correct Risk ️the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. ️CHANCE Policy ️a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance ️a contract where one undertakes to indemnify another or pay a specific amount determined on contingencies Binders ️temporary insurance which can be made orally or written property insu...

Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - ANSWER D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it is up to the additional interests ...

A supply manager issues a request to proposal for engineering services. In order to provide clarification on the specification on the specifications, the company holds a question-and-answer session for interested suppliers. Shortly after the question-andanswer session is held and before any proposals are actually received, the firm's engineering department revises the specifications. Given this situation, which of the following should the supply manager do FIRST? (A) Call and email the sup...

PSI EXAM PREP: CONTRACTS QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ what requires that certain types of contracts, such as for a property ownership transfer, be in writing to be legally enforceable and to prevent injury from fraudulent conduct. - -The statute of frauds Is an oral contract enforceable in court? - -no Offer and acceptance Consideration Legally competent parties Legal purpose Made voluntarily are all what - -needed for a valid contract what occurs when the parties...

Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - CORRECT ANSWER D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it is up to the additional ...