Ho 2 broad form Study guides, Class notes & Summaries

CLAIMS ADJUSTER EXAM 2024 WITH 100% ACCURATE SOLUTIONS Which term is generally considered to be a definition of "vacancy" in respect to a dwelling? - correct answer A dwelling from which the contents and occupants are removed. Dwelling Forms provide limited coverage for: 1. Pets 2. Rowboats & Canoes 3. Aircraft - correct answer 2. Rowboats & Canoes Liability coverage (section II) of the homeowners policy provides: - correct answer Legal defense costs in excess of the liability limi...

SC Personal Lines Questions and Answers Graded A+ 6 loss valuation methods actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel a person has given up a known or legal right 4 components of a legal contract agreement, consideration, competent parties, legal purpose 6 classes of insurers authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 marketing dis...

The Standard Fire Policy -1st used in 1918 in NY -Provided homeowner & commercial property protection. -ACV valuation -Named peril policy -Only covered fire & lightening "165 Line" Policy The original Standard Fire Policy spent 165 lines explaining new insurance concepts that are still used today: -Concealment & misrepresentation -Property & perils excluded from coverage -Insurance cancellation due to an increase in hazards -Obligations to a mortgagee -Insured's duties in th...

Exam Fx-Property and Casualty Exam Questions and Answers 100% Pass To be considered an insurable risk, a loss may NOT be catastrophic Which of the following persons would be required to hold a producer license? a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? the difference in the actual cash va...

The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as - correct answer-A recipient location recipient location - correct answer-Businesses who support insured by being the primary buyer for their products HO-3 (special form) - correct answer-covers the dwelling and other structures on a risk-of-...

Standard Fire Policy - ANSWER basic foundation of all homeowner's and commercial policies ACV Named peril policy that only covered fire and lightning first used in 1918 in NY Line of Coverage - ANSWER A particular risk or group of risks covered by an insurance policy Monoline Policy - ANSWER an insurance policy that covers only one risk or type of risk Personal lines - ANSWER for possessions intended for personal use commercial lines - ANSWER for possessions intended for business...

Standard Fire Policy - ANSWER basic foundation of all homeowner's and commercial policies ACV Named peril policy that only covered fire and lightning first used in 1918 in NY Line of Coverage - ANSWER A particular risk or group of risks covered by an insurance policy Monoline Policy - ANSWER an insurance policy that covers only one risk or type of risk Personal lines - ANSWER for possessions intended for personal use commercial lines - ANSWER for possessions intended for business...

Mississippi Insurance- Property And Casualty Questions & Answers 100% Accurate Mississippi Insurance- Property And Casualty Questions & Answers 100% Accurate Mississippi Insurance- Property And Casualty Questions & Answers 100% Accurate Mississippi Insurance- Property And Casualty Questions & Answers 100% Accurate Homeowners Policy - ANSWER Multiline Policy that protects property owners from property and liability risks HO-2 - ANSWER (broad form): covers the dwelling, other structures, and ...

The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as correct answersA recipient location recipient location correct answersBusinesses who support insured by being the primary buyer for their products HO-3 (special form) correct answerscovers the dwelling and other structures on a risk-of-direct-...

Named peril policy that only covered fire and lightning first used in 1918 in NY Line of Coverage A particular risk or group of risks covered by an insurance policy Monoline Policy an insurance policy that covers only one risk or type of risk Personal lines for possessions intended for personal use commercial lines for possessions intended for business or corporate use Homeowners Insurance bundles property and liability insurance into one 'package' policy Property coverage c...