Cic personal lines - Study guides, Class notes & Summaries

CIC - PERSONAL LINES – STUDY GUIDE EXAM QUESTIONS WITH CORRECT ANSWERS

Licensing 1. Process and Types (available in PA) correct answers Life- Coverage on human lives Accident and health- coverage for sickness, bodily injury or accidental death, and disability income Property- coverage for the direct and consequential loss or damage to property of every kind Casualty- coverage against legal liability variable life and variable annuities- coverage under variable life and/or variable annuities Personal lines- noncommercial property and/or casualty coverage Cred...

CIC Agency Management Review With Complete solutions Types of Agencies - ANS1. Standard lines P&C 2. Personal Lines only 3. Commercial Lines only 4. Non-StandardAuto 5. Life & Health Agency 6. Combination of the above Banks vs. Agencies - ANS1. How much will the agency culture change if your agency is acquired by a bank? 2. Banks are governed by very specific federal and state laws that require them to function in a certain manner. 3. Banks tend to be more formal (in terms of rules, ...

CIC Personal Lines - Residential exam with complete solution

CIC PERSONAL LINES- RESIDENTIAL EXAM QUESTIONS AND ANSWERS Importance of Correct Valuation of Property and Compliance with insurance-to-value - Answer-Total Loss: If insurance is less than Replacement Value (R.V.), the insured doesn't have enough $ to replace property Partial Loss: If insurance amount is less than R.V. the policy has insurance-to-value provision that may result in penalty Over Insured: If amount of insurance more than R.V. the insured is paying unnecessary insurance ...

CIC Personal Lines - Residential exam with complete solution

All of the following are authorized activities for the limited lines automobile insurance agents EXCEPT if the agent CORRECT ANSWER Charges and collects a brokers fee for service Which of the following descries a contract of reinsurance? CORRECT ANSWER A first insurer issues insurance to compensate another insurer for losses on contracts issued by that second insurer A personal lines licensee is an agent-broker who is able to transact coverage for all the following EXCEPT CORRECT ANSWER Pe...

CIC - PERSONAL LINES - AUTO POLICY EXAM QUESTIONS WITH CORRECT ANSWERS