Nfip - Study guides, Class notes & Summaries

For what type of property may an applicant or insured choose a maximum deductible of $10,000? CORRECT ANSWER A residential building Your client lives in a flood zone A. What type of flood risk is his property subject to? CORRECT ANSWER High A waiting period in flood insurance is usually CORRECT ANSWER 30 days What would happen if an agent submitted a flood insurance application for a drive in bank teller unit or a pumping station? CORRECT ANSWER Coverage would be declined More than 2...

Which of the following statements is NOT TRUE regarding the "Extended Period of Indemnity" option of the Business Income form? - ANSWER-The coverage applies for 120 days following the period of restoration When a Hawaii employee sustains an injury requiring medical treatment beyond first aid, how long does the employer have to report the accident to the Director of Labor and Industry relations? - ANSWER-7 working days After paying a claim an insurance company may have the right to pursue...

The Mobile Home Endorsement of a Homeowners policy affords coverage to mobile homes under the? A. HO-1 (Basic Form) B. HO-2 (Broad Form) C. HO-3 (Special Form) D. HO-2 or HO-3 (Broad and Special) - ANSWER-D. HO-2 or HO-3 (Broad and Special) All of the following are eligible for coverage under Homeowners policy except? A. A condominium unit owner. B. A farm owner. C. A mobile home owner. D. A tenant in an apartment building. - ANSWER-B. A farm owner. The term Insured Location under ...

The Adjuster's Role - Answer * Handle the claim * Make recommendations * Share recommendations with policyholder Does not have authority to approve/deny claims Customer Service - Answer * Expected to create a favorable impression of the NFIP. * Demonstrate professionalism in work practices & products & in interpersonal communications. * Improve policyholder's understanding of the SFIP The Flood Certification Number (FCN) Identification - Answer The FCN card identifies you as ...

NFIP Flood Insurance Exam Questions and Answers WYO Program - ️️ "Write your own" insurers write the coverage on their own "paper" but the NFIP reinsures 100% of the coverage Wait period for policy to become effective - ️️ 30 days, this is done to avoid panic buying before disasters strike Standard Flood Insurance Policy (SFIP) - ️️ Defines coverage, limits , and exclusions for NFIP flood Insurance policies with terms and conditions unique to the NFIP - NFIP insurers can O...

NFIP EXAM QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED!!

National Flood Insurance Program (NFIP) Questions with Correct Answers

NJ Property/ Casualty Insurance Exam Set Questions and Answers Already Passed Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are e...

NJ Property/ Casualty Insurance Exam Set With 100% Correct Answers 2023. Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from f...