A HUUUGE COMPILATION BUNDLE FOR PROPERTY AND CASUALTY EXAMS(ALL STATES COMBINED)|DOWNLOAD TO PASS

To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects B) upset of the vehicle ...

To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects B) upset of the vehicle ...

Workers Compensation Benefits required by state law to be paid to an employee by an employer in the case of injury, disability, or death as the result of an on-the-job hazard. Warranty A material stipulation in the policy that if breached may void coverage. Waiver The voluntary aban...

The agent's permanent license becomes inactive. What will happen when an agent's action notice of appointment with an insurance company is terminated and the agent has no other appointments with any other insurance company? They may not use race, color, religion, or national origin as a co...

A self-insurer deals with risk by: -Transferring the risk -Avoiding the risk -Retaining the risk -Eliminating the risk Retaining the risk A property and casualty agent must complete how many hours of CE? -12 hours each year -12 hours every 2 years by their due date -complete the appro...

The Occurrence form it doesn't matter when the loss is reported, but the date the loss occurred must be during the policy period. The Supplemental Extended Reporting Period The cost of the endorsement may be up to 200% of the CGL's annual premium. This is a one-time charge and is fully ea...

A violation of the insurance laws and regulations in Idaho could result in a monetary fine up to: $5000 The minimum limits of a basic automobile liability insurance required by the state of Idaho is: 25/50/15 A violation of unfair insurance claims practices will result in which of th...

Each of the following is listed under the Idaho statute defining "transacting insurance" EXCEPT: premium trust accounting. The Director of Insurance has the power to regulate Insurance transactions under: Title 41 of Idaho statutes. It is illegal for an insurance company to adverti...

The settlement of an insurance claims dispute by the use of a neutral third party or parties Appraisal The transfer of a policy to another party. Often done when commercial property is sold to a new owner. Assignment Property insurance that insures against a list of 11 perils (the nu...

What is a peril? Perils are the causes of loss insured against in an insurance policy. Any cause of loss. What is a dwelling? Any building or structure, though movable or temporary, or a portion thereof, which is used or ordinarily used by a person for lodging (Residential, Apartment,Home) ...

Assume the financial risk one's self. Self Insure A condition where the chance, likelihood, probability or potential loss exists. Risk A form changing the provisions of a policy. Endorsement An accepting of an insurance contract takes place when the insurance company agrees ...

Automatic Increase in Insurance (Dwelling) Provide annual increase in Coverage A & B in 4%, 6%, or 8% Dwelling Under Construction Endorsement (Dwelling) Used when dwelling under construction - policy limit based on value of partially completed home, increases as home progresses Mobil...

A morale hazard Arises through an individual's carelessness or irresponsible actions They do not tell the agent that their son, Who lost his drivers license due to drunk driving, uses one of their cars on a regular basis to drive to work. The company found out about their son after he had a...

Insurance The transfer of risk through a legal contract Property Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty covers non-property losses (3rd Party) Personal lines Insurance for families and in...

Spouse of a partner Which of the following would be insured under the CGL policy? 3 years Under the PAP, how long does an injured party have following an accident to report a Medical Payments Claim? Proximate Cause is a secondary cause of loss. All of the following statements regard...