Abdication - Study guides, Class notes & Summaries

Abandonment - Answer the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - Answer Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - Answer an unplanned, unforseen event which occurs suddenly and at a specific place Actual Cash Val...

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Kentucky Property Insurance Exam FlashcardsAbandonment - correct answer The abdication of insured property into the hands of another, or into the possession of no one in particular. Accident - correct answer An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Actual Cash Value - correct answer The required amount to pay damages or for property loss, which is calculated based on the property's current replacement value minus depreciation. Additional Coverag...

SC P&C Insurance Exam Study Guide Latest Version Graded A+ Abandonment the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident an unplanned, unforseen event which occurs suddenly and at a s...

Kentucky Property Insurance Exam FlashcardsAbandonment - correct answer The abdication of insured property into the hands of another, or into the possession of no one in particular. Accident - correct answer An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Actual Cash Value - correct answer The required amount to pay damages or for property loss, which is calculated based on the property's current replacement value minus depreciation. Additional Coverag...

South Carolina P&C Insurance Exam Study Guide 20242025 with 100% correct answers 1. Abandonment: the abdication of insured property into the hands of another, or into the possession of no one in particular 2. Absolute Liability: Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For exam- ple, you are absolutely liable if you keep a wild animal as a pet. 3. Accident: an unplanned, unforseen event which o...

Abandonment - ANSWER-the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - ANSWER-Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - ANSWER-an unplanned, unforseen event which occurs suddenly and at a specific place Actual Cash Value - ANSW...

NJ Property Insurance Exam With 100% Correct Answers 2024. Abandonment the abdication of insured property into the hands of another, or into the possession of no one in particular accident an unfortunate incident that happens unexpectedly and unintentionally, typically resulting in damage or injury. ACV. actual cash value the required amount to pay damages for property loss, which is calculated based on the property's current replacement value minus depreciation additional coverage A ...

Abandonment The abdication of insured property into the hands of another, or into the possession of no one in particular. Absolute Liability A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme heights. Accident An unplanned, unforeseen event which occurs suddenly and at a specific place. Actual Cash Value (ACV) The required amount to pay damages or for property loss, which is calculated based on the property's curre...

SC P&C Insurance Exam Study Guide Questions And Answers Abandonment - ANS the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - ANS Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - ANS an unplanned, unforseen event which occurs s...