Commercial package policy Study guides, Class notes & Summaries
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Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed
- Exam (elaborations) • 28 pages • 2023
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Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed 
Peril Something that causes a loss. 
Hazard Something that increases the probability that a loss will occur. 
Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. 
Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 
Concealment The fail...
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Adjuster Pro - Florida Certified Adjuster Glossary Exam Questions and Answers
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Accumulated Depreciation - ANSWER-The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) 
 
Actual Cash Value (ACV) - ANSWER-A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) 
 
Adhesion - ANSWER-One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other ...
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Michigan P & C Insurance Exam Test. Questions and answers. 100% Verified. Rated A
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Michigan P & C Insurance Exam Test. Questions and answers. 100% Verified. Rated A 
 
 
Termination of Insurance for auto and home must be sent to last know address no later than - 30 days before cancellation 
 
Termination of casualty insurance cannot take place until- from the mailing date - 10 days 
 
PIP in auto insurance covers individual care from a family member for - a limit of $20 a day for three years 
 
limited collision - shall pay for collision damage to the insured vehicle without a...
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WA State Property & Casualty State Exam Latest Update Graded A+
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WA State Property & Casualty State 
Exam Latest Update Graded A+ 
 
Assignment The transfer of a policy to another party. Often done when commercial property 
is sold to a new owner. 
 
Building & Personal Property (BPP) The commercial property policy for larger businesses. 
 
Business Income Policy A commercial policy covering the indirect loss of income following 
a loss. 
 
Cancellation Termination of a policy during the policy period. 
 
Casualty Insurance A broad term which includes all of ...
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CPCU 551 Full Exam Questions & Answers 2024/2025
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CPCU 551 Full Exam Questions & Answers 2024/2025 
 
 
Commercial Package Policy (CPP) 1-1 - ANSWERSPolicy that covers two or more lines of business by combining ISO's commercial lines coverage parts 
 
Businessowners Policy (BOP) 1-2 - ANSWERSA package policy that combines most of the property and liability coverages needed by small and medium-sized businesses 
 
Output Policy 1-3 - ANSWERSA policy that combines, in one form and associated endorsements, all or most of the commercial property co...
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California Commercial Insurance Exam Questions and Answers Rated A+
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California Commercial Insurance Exam 
Questions and Answers Rated A+ 
 
What is a Modular Policy? A modular policy is a policy consisting of several different 
documents, none of which by itself forms a complete contract. 
 
What is a Commercial Package Policy (CPP)? A Commercial Package Policy is a modular 
policy that combines different forms and more than one line of coverage. 
 
What must a CPP policy consist of? A Declaration Page (stating premium charges and 
coverage limits) 
A Policy Con...
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AINS 103 Test Questions and Answers Rated A+
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AINS 103 Test Questions and Answers 
 
Rated A+ 
 
Workers compensation benefits include which one of the following? 
Rehabilitation benefits 
3 multiple choice options 
When a clothing manufacturer decides to expand the sale of its clothing line by offering internet 
purchases, it creates new exposures not otherwise covered, or not fully covered, by a traditional 
policy. These include 
Loss or damage caused by computer viruses. 
3 multiple choice options 
Which one of the following supply chai...
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AINS 101 || with 100% Errorless Answers.
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C. Insurance helps reduce the financial burden to society by compensating accident victims. correct answers Which one of the following statements is correct regarding the benefits provided by insurance? 
 
A. Insurance reduces the financial consequences of loss exposures but not the related uncertainty. 
B. The reduction in losses paid by insurers due to risk control measures benefits individual insureds but not society as a whole. 
C. Insurance helps reduce the financial burden to society by co...
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AINS 103 Test Questions And Answers All Verified
- Exam (elaborations) • 24 pages • 2024
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AINS 103 Test Questions And Answers All Verified 
 
 
Workers compensation benefits include which one of the following? 
Rehabilitation benefits 
3 multiple choice options 
 
 
When a clothing manufacturer decides to expand the sale of its clothing line by offering internet purchases, it creates new exposures not otherwise covered, or not fully covered, by a traditional policy. These include 
Loss or damage caused by computer viruses. 
3 multiple choice options 
 
 
Which one of the following s...
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AINS 103 Test Questions and Answers Rated A+
- Exam (elaborations) • 37 pages • 2024
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- $11.49
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Workers compensation benefits include which one of the following? 
Rehabilitation benefits 
3 multiple choice options 
When a clothing manufacturer decides to expand the sale of its clothing line by offering internet 
purchases, it creates new exposures not otherwise covered, or not fully covered, by a traditional 
policy. These include 
Loss or damage caused by computer viruses. 
3 multiple choice options 
Which one of the following supply chain exposures can a business mitigate by carefully wo...
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