Agreed upon endorsement - Study guides, Class notes & Summaries

To be considered an insurable risk, a loss may NOT be - catastrophic Which of the following persons would be required to hold a producer license? - a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? - the difference in the actual cash value as a pair and as a single Which of the following add...

Executory - correct answer Both sides perform certain acts to make contract enforceable. Endorsement - correct answer Used to add, delete, or change any policy parts. May alter content of declarations and insurance agreement. May contain conditions exclusions, and definitions. Subrogation - correct answer Used when insurer paid a covered claim on behalf of insured caused by another party. Entitled to insured's right of recovery from negligent party. Agreed value - correct answer...

ACC 356 Midterm Exam | Complete Solutions (Verified) Tiffany Evans, a medical doctor and prospective client, has come to your office for the first time. Which is the most appropriate way to greet her? A. "Welcome to my office." B. "Welcome to my office, Dr. Evans." C. "Hi, Tiffany. Welcome to my office." D. "Welcome to my office, Ms. Evans." Financial planners earn compensation in the form of: 1. A percentage of assets managed. 2. An hourly rate or fee. 3. A commission...

Negligence - ANSWERSfailure to exercise a duty of care Ethics - ANSWERSlearning right from wrong and doing the right thing. Duty of Care - ANSWERSexercising the skill and care a reasonable person would i a similar situation Duty of Loyalty - ANSWERSacting solely in another parties interests when administering their assets Acceleration - ANSWERSthe collection of all assessments due thru the end of the fiscal year accrual basis of accounting - ANSWERSaccounting method that records i...

PROPERTY AND CASUALTY INSURANCE EXAM WITH VERIFIED ANSWERS 1. Specific insur- ance 2. Blanket insur- ance This type of insurance designates a particular item to be insured This type of insurance covers more than one item of property at a single location or one more items of prop- erty at multiple locations. 3. Speculative possibility of both gain and loss. Not insurable. 4. Pure only the possibility of loss. Insurable. 5. What are the 5 methods of man- aging or handling risk? avo...

Iowa Personal Lines Latest Update Graded A+ DP-1 Basic Form Dwelling Policy: Provides coverage on a named peril basis. DP-1 Losses are paid actual cash value Extended Coverage Perils W.C. SHAVVER: Wind, Civil Commotion, Smoke, Hail, Aircraft, Vehicles, Volcanic Eruption, Explosion, and Riot DP-2 Broad Form Dwelling Policy: Provides replacement cost coverage on dwellings & buildings on a "named peril" basis, contents are actual cash value Uninsurable (excluded) losses Under the open- peril ...

Which one of the following statements is correct with respect to the Recovered Property condition of the Building and Personal Property Coverage Form (BPP)? Select one: A. The insured has the option of taking the recovered property and refunding the loss payment to the insurer. B. Recovered property is returned to the insured, who has no obligation to return the loss payment to the insurer. C. If property is recovered, the insured must accept the recovered property and refund the loss paym...

Fx-Property and Casualty Exam 2024 with complete solution To be considered an insurable risk, a loss may NOT be - Answer ️️ -catastrophic Which of the following persons would be required to hold a producer license? - Answer ️️ -a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - Answer ️️ -ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candl...

Those who are eligible for coverage under the Florida Automobile Joint Underwriting Association are? – Military Personnel A non-resident owning an automobile in Florida A non-resident subject to Florida no-fault law A forcible entry into locked premises and the carrying away of the property of others is a definition of: - Burglary The inland marine coverage form that covers clothing, cameras and other portable property worn and carried by tourists and travelers is a: - Personal effects...

ExamFx Property and Casualty Exam | 100% Correct Answers | Verified | Latest 2024 Version To be considered an insurable risk, a loss may NOT be - catastrophic Which of the following persons would be required to hold a producer license? - a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candle...