Dp 1 answer basic form - Study guides, Class notes & Summaries

NJ Property Producer Exam Question and answers correctly solved 2023/2024Dwelling Policy - correct answer Only insures property DP-1 - correct answer Basic Form DP-2 - correct answer Broad Form DP-3 - correct answer Special Form Dwelling Coverage A - correct answer Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the dwelling. Dwelling Coverage B - correct answer Other Structures- Insures buildings on premise but separate from the dwelling. ...

FLORIDA CLAIMS ADJUSTER ACTUAL EXAM 2023/2024/CLAIMS ADJUSTER (FLORIDA) 270+ REAL EXAM QUESTIONS AND CORRECT ANSWERS|A+ GRADE The following are basic characteristics of a property or liability insurance contract, except: A. Personal Contract B. Conditional Contract C. Loss of Settlement Contract D. Contract of Adhesion - ANSWER- Loss of Settlement Contract The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to ...

CA ADJUSTERS LICENSE 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Which of the following dwelling forms provides coverage for loss of rental income? - The Basic, Broad and Special Form - The Basic and Broad Forms only - The Broad and Special Forms only - The Special Form only - CORRECT ANSWER The correct answer is: The Basic, Broad and Special Form. EXPLANATION: All of the forms provide for rental value coverage. In the DP-2 and DP-3, it is 20% of the Coverag...

NJ Property Producer ExamDwelling Policy - correct answer Only insures property DP-1 - correct answer Basic Form DP-2 - correct answer Broad Form DP-3 - correct answer Special Form Dwelling Coverage A - correct answer Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the dwelling. Dwelling Coverage B - correct answer Other Structures- Insures buildings on premise but separate from the dwelling. Dwelling Coverage C - correct answer Personal P...

FLORIDA CLAIMS ADJUSTER LATEST EXAM /CLAIMS ADJUSTER (FLORIDA) 270+ REAL EXAM QUESTIONS AND CORRECT ANSWERS|AGRADE The following are basic characteristics of a property or liability insurance contract, except: A. Personal Contract B. Conditional Contract C. Loss of Settlement Contract D. Contract of Adhesion - ANSWER- Loss of Settlement Contract The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the ...

Homeowners Policy - ANSWER Multiline Policy that protects property owners from property and liability risks HO-2 - ANSWER (broad form): covers the dwelling, other structures, and personal property on a named perils basis HO-3 - ANSWER or special form, provides open peril coverage for loss to the dwelling and other structures (most common) HO-4 - ANSWER renters/tenants insurance HO-5 - ANSWER Comprehensive Form HO-6 - ANSWER condominium owner's insurance HO-8 - ANSWER older hom...

Debris - Answer-remains of anything broken down or destroyed Incidental occupancy - Answer-minor uses that are accessory to or support the predominant occupancy (e.g., a piano teacher giving lessons in her home) Occurrence - Answer-an incident or event Ordinance - Answer-A law that must be complied with Overinsurance - Answer-when a property's insurance coverage exceeds its cash value Premises - Answer-a house or building (including land and outer buildings) utilized by a busines...

Which of the following dwelling forms provides coverage for loss of rental income? - The Basic, Broad and Special Form - The Basic and Broad Forms only - The Broad and Special Forms only - The Special Form only - Answer- The correct answer is: The Basic, Broad and Special Form. EXPLANATION: All of the forms provide for rental value coverage. In the DP-2 and DP-3, it is 20% of the Coverage A limit and is additional coverage. With the DP-1, the 20% coverage reduces the available Cover...

6 loss valuation methods - correct answer actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel - correct answer a person has given up a known or legal right 4 components of a legal contract - correct answer agreement, consideration, competent parties, legal purpose 6 classes of insurers - correct answer authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 mar...

6 loss valuation methods - correct answer actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel - correct answer a person has given up a known or legal right 4 components of a legal contract - correct answer agreement, consideration, competent parties, legal purpose 6 classes of insurers - correct answer authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 mar...