Extended coverage perils - Study guides, Class notes & Summaries

Dwelling ('02) Policy correct answer: Is used to insure 1-4 unit residential dwellings that are not eligible for coverage under the regular homeowners program because of age, location, value, or other factors. 3 Coverage Forms (Dwelling Program) correct answer: 1.DP 00 01- Basic 2.DP 00 02-Broad 3.DP 00 03-Special Basic Form correct answer: Is a named peril coverage form and provides the most limited coverage of the 3 forms. Losses under this form will be paid on ACV basis. Basic ...

New York State Auto Damage and Theft General Adjuster 17-70 Practice Questions And Answers 2024/2025 An employee has been asked to use his own personal vehicle to perform certain tasks on behalf of his employer. What coverage is used under the business auto policy to protect the employer for lawsuits when the employee has an accident that causes legal action against the employer? - CORRECT ANSWER-Employers non-ownership coverage. This coverage protects the employer and not the emplo...

California Property and Casualty Exam Questions and Answers 100% Pass Most workers compensation policies are written for 1 year terms. - Correct Answer ️️ - true A person licensed as either a property and casualty agent/broker or as an accident and health agent may be authorized to transact disability insurance for an admitted insurer by filing a notice of appointment from that insurer. This is known as: - Correct Answer ️️ -Dual Authority HMO's, PPO's, and POS, are referred to...

What is the purpose of an exclusion? : To remove certain losses from the policy's coverage. Exclusions list types of property that are not insured, and perils that are never or sometimes not insured against. Restrict coverage, remove exposures to loss considered undesirable or uninsurab;e What two types of exposure are typically listed in exclusions? : Exposures to trade risk or maintenance cost or exposures that are inevitable (that is non-fortuitous). And exposures that reflect unde...

Texas All Lines Adjuster Exam Questions With Verified Answers 100% Correct DP - valuation - ANS DP-1 - ACV building & contents DP-2/3 - RCV building & ACV contents DP - limit for fair rental value - ANS 20% of A DP - coverages (A-E) - ANS A - dwelling B - other structures C - personal property D - fair rental value E - additional living expense DP - limit for additional living expenses - ANS DP-1 - NONE DP-2/3 - 20% of A DP - Property removed is covered for ___ days. -...

State Farm Property Exam Questions with 100% Correct Answers A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Abandonment Condition A loss that occurs at a specific time and place Accident Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. Actual Cash Value (ACV) Company that meets a state insurance d...

Mississippi Property and Casualty Law Supplement Questions and Answers Already Passed Making false, maliciously critical, or derogatory statements about an insurer, with the intent of causing injury, is an illegal practice known as... Defamation The Commissioner of Insurance in Mississippi is elected to office for a term of... 4 Years All of the following are true about temporary producer licenses issued by the Commissioner except A. temporary licenses are issued for a limited t...

3 coverage forms available under dwelling program correct answer: -basic -broad -special forms Is liability coverage included under dwelling program? correct answer: No, but can be added Does the dwelling policy can be used to insure: a) dwelling only b)contents only c)both dwelling and contents d)all of the above correct answer: Does the dwelling policy can be used to insure: d)all of the above Structure of a DP Form correct answer: 1) Agreement 2) Definitions 3) Deductibl...

6 loss valuation methods - correct answer actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel - correct answer a person has given up a known or legal right 4 components of a legal contract - correct answer agreement, consideration, competent parties, legal purpose 6 classes of insurers - correct answer authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 mar...

GEORGIA CLAIMS ADJUSTER LICENSING LATEST UPDATED EXAM 2024 FINEST VERIFIED QUESTIONS CORRECTLY ANSWERED 100% QUALIFIED PASS WITH RATIONALES ALREADY RANKED A+…. The acronym OSCAR is for: - ANSWER- Open peril aka Special/AllRisk/Comprehensive The acronym ACCL is for: - ANSWER- Parts of a contract; agreement (offer and acceptance), competent parties, consideration, legal purpose The acronym DICEED is for: - ANSWER- Parts of a contract; declarations, insuring agreements, conditions,...