C12 - Study guides, Class notes & Summaries

CIP C12 - Insurance on Property - Midterm Defining Property Insurance - CORRECT ANSWER--Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - CORRECT ANSWER-R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - CORRECT ANSWER--Insured

C12 - Insurance on Property – Midterm Exam Questions With 100% Verified Answers Defining Property Insurance - answer-Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - answerR: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - answer-Insured prom...

C12 - Insurance on Property – Midterm Exam Questions and Answers 100% Pass Defining Property Insurance - Correct Answer ️️ --Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - Correct Answer ️️ -R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is b...

C12 Property - Ch 1/2 Questions & answers

Property Insurance - C12 - Chapter 1 With complete solution

Q: What is the definition of property insurance : : Property insurance is first-party insurance that indemnifies the owner or user of property for its loss, or the loss of its income-producing ability, when the loss or damage is caused by a covered cause of loss, such as fire or explosion. Q: What are some examples of types of property that might be covered by property insurance : : Some examples are real property such as dwellings and detached buildings such as sheds or garages; pers...

A Typical Thunderstorm cloud can hold the potential of : 1 Million Volts Falling object refers to an object : Striking the exterior roof or walls of a building Tornadoes are covered under the named-perils or all-risk policy as they fall within what peril? : Windstorm or Hail Peril The correct term for flooding caused by rain is : Pluvial Flooding The correct term for flooding caused by the overflow of a river is : Fluvial Flooding 2 | P a g e How long is the average lifespan of a d...

Property Insurance - C12 - Chapter 9 With complete solution