Pro rata share - Study guides, Class notes & Summaries

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 interests ...

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 on ...

New York State Property and Casualty Licensing Exam Latest Version Graded A+ Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. pro rata liability If a loss occurs that is covered b...

Private Pilot Checkride Oral Exam Questions And Revised Correct Answers Quiz 1 NO acting as PIC in an aircraft that is carrying passengers or property for compensation or hire, NO acting as PIC for compensation or hire. 1. MAY act as PIC of an aircraft in connection with a business only if it is incidental to the business and does not carry passengers or property for hire. 2. May NOT pay less than pro rata share of the flight expenses when carrying passengers. 3. MAY carry pass...

New York State Property and Casualty Licensing Exam Questions and Answers Already Passed Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. pro rata liability If a loss occurs that is covered b...

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 ...

Privileges and limitations as PIC you may not carry passengers for compensation or hire May not pay less than the pro rata share. May act as pic of charitable, nonprofit, or community event flight. Be reimbursed for aircraft operating expenses related to search and location operations. Only fuel, oil, airport expenditures, or rental fees. Demonstrate an aircraft inflight to a buyer pp is a salesman and has at least 200 hours of logged flight time. May act as PIC of aircraft towing a g...

Virginia Property and Casualty Insurance Exam Prep Latest Update Graded A+ Coninsurance A provision in a member's coverage that limits the amount of paid for a loss by the plan to a certain percentage (commonly 80%). failure to maintain coverage of 80% replacement value means the insured is essentially agreeing to retain some risk and share the potential loss with the insurer, thus becoming a "co-insurer" of the loss how old can the insured's bad credit history report be if use...

Concealment correct answers Intentional withholding of information of a material fact that is crucial in making a decision. Warranty correct answers absolutely true statement upon which the validity of the insurance policy depends Representations correct answers statements believed to be true to the best of one's knowledge, but they are not guaranteed to be true Consideration correct answers Insurer's consideration is the promise to pay for losses; insured's consideration is the paym...

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 on ...