Pa property and casualty - Study guides, Class notes & Summaries

PSI PA Property and Casualty Exam Guide 100% Correct Answers |Verified

Executing the insurance laws of pA is whose responsibility? - correct answer Department of insurance In PA financial responsibility requires the ability of the insured to pay how much damage to the property of others from any single accident? - correct answer $5,000 because of damage to property of others in any one accident A policy covering commercial risks is subject to midterm cancellation for non-payment of premium upon how many days written notice? - correct answer 15 days A writt...

Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions Insurance Transactions include what 4 tactics - ANSWER-Solicitation Negotiation Sale Advising 2 types of Risk - ANSWER-1. Pure 2. Speculative Pure Risk Definition - ANSWER-A risk that can only can result in loss or no change Spec...

Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics)

Which of the following is a mandatory part of an insurance policy that varies with each individual policy? correct answers Declarations In accordance with American Institute Hull Clauses, a pro rata return of premium will be given for all the following reasons EXCEPT correct answers If the policy is cancelled by the insured. In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy peri...

Insurance Transactions include what 4 tactics CORRECT ANSWER Solicitation Negotiation Sale Advising 2 types of Risk CORRECT ANSWER 1. Pure 2. Speculative Pure Risk Definition CORRECT ANSWER A risk that can only can result in loss or no change Speculative Risk Definition CORRECT ANSWER A risk that can result in either loss or gain What is the only type of risk insurance companies are willing to accept? CORRECT ANSWER Pure Risk Exposure Definition CORRECT ANSWER A unit of measu...

Property correct answers you can possess/ physically touch BI correct answers bodily injury PD correct answers Property damage Liability/casualty correct answers what you pay the other guy personal lines insurance correct answers cover needs of individual or family (auto,boat,camper,rv) commercial lines insurance correct answers needs of a business direct loss correct answers example - house burns down indirect loss correct answers example - additional money you will have to...

Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions! Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insura...

Broker - ANSWER According to the insurance law, who is the principal? 90 days - ANSWER An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? a temporary license - ANSWER issued for 180 days for surviving spouse, surviving inactive officer or partner, legal representative. Can be used upon death or incompetency of producer, or when individuals are serving in the military. Endorse Insurers...

Property - ANSWER you can possess/ physically touch BI - ANSWER bodily injury PD - ANSWER Property damage Liability/casualty - ANSWER what you pay the other guy personal lines insurance - ANSWER cover needs of individual or family (auto,boat,camper,rv) commercial lines insurance - ANSWER needs of a business direct loss - ANSWER example - house burns down indirect loss - ANSWER example - additional money you will have to spend to live somewhere else while house is being rebui...