California commercial i - Study guides, Class notes & Summaries

QUESTIONS AND ANSWERS

The term "Time element Coverage" is used when the amount of loss depends on what? The time it takes to repair, rebuild, or restore damaged property.The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,, rebuild, or restore the damaged property. Many factors can influence the ultimate loss, incl...

Note Q&A for the California commercial insurance exam. Everything you need to know. Cards 01-33: Property Basics: Section 1 Cards 34-72: Commercial Coverage Part 1: Section 2 Cards 73-91: Commercial Coverage Part 2: Section 3 Cards 92-131: Commercial Coverage Part 3: Section 4 Cards 132-157: Commercial Auto: Section 5 Cards 158-191: Farm, Flood, and BOP: Section 6/ Q&A with Rationales

In a commercial property policy, concealment, misrepresentation or fraud could cause a policy to: - ANSWER-Be voided, denied or cancelled. NOTE: This is a common condition in the commercial property policy Any licensed agent or broker may submit risks to the FAIR plan: - ANSWER-But there is no binding authority. NOTE: An agent never has binding authority with the FAIR plan. Under the Building and Personal Property coverage form, vacancy means: - ANSWER-Insufficient business property ...

California Commercial Insurance | Questions with 100% correct answers | verified solutions 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 cove...

1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. - 2. Coverage by endorsement. 2. Personal business property out in the open is covered under Commercial Property Policy only while (Choose from the following options) 1. Within 150 feet of the described premises. 2. Within 100 feet of the described premises. 3....

Test Bank for Law and Ethics in the Business Environment 9e 9th Edition by Terry Halbert, Elaine Ingulli. Full Chapters test bank included CHAPTER 1 Law, Ethics, & Business: An Introduction Freedom versus Responsibility: A Duty to Rescue? Yania v. Bigan (Pennsylvania, 1959) Justifying the “No Duty to Rescue” Rule ■ John Stuart Mill, “On Liberty” Radical Change? ■ Steven J. Heyman, “The Duty to Rescue: A Liberal-Communitarian Approach” Podias v. Mairs (New Jersey, 200...

Part I 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 Conditions (six conditions that apply to the entire contract)...

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 Conditions (six conditions that apply to the entire contract) Two or more Cove...

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 Conditions (six conditions that apply to the entire contract) Two or more Coverag...