Homeowners c - Study guides, Class notes & Summaries

1. Select the false statement listed below: In the HO-3 policy, the ALE pay- ments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs fo...

ACA Final Exam Questions and Answers 2023 At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters Set rates and write policies ...

AIDA 181 (Latest 2024 / 2025 Update) Big Data Analytics for Risk and Insurance Exam | Questions and Verified Answers | 100% Correct | Grade A Question: Computer output simulating human reasoning best describes which one of the following? Select one: A. Artificial intelligence B. Machine learning C. Deep learning D. Chatbots Answer: A Question: Annette is a claims adjuster with Midwestern Insurance (MI). MI recently invested in and established robotic process automation (RPA) ...

NJ PSI Property and Casualty Exam 2024/2025 with 100% correct answers The Mobile Home Endorsement of a Homeowners policy affords coverage to mobile homes under the? A. HO-1 (Basic Form) B. HO-2 (Broad Form) C. HO-3 (Special Form) D. HO-2 or HO-3 (Broad and Special) - CORRECT ANSWER D. HO-2 or HO3 (Broad and Special) All of the following are eligible for coverage under Homeowners policy except? A. A condominium unit owner. B. A farm owner. C. A mobile home owner. D. A tenant in an...

What is a peril? - Answer A Peril is a cause of loss What is a hazard? - Answer Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Answer Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Answer Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire considered? - Answer A Peril What are the ele...

Under Part A of a Personal Auto Policy, which of the following losses would be covered? A.) Damage to property being transported by the insured B.) Damage to a neighbor's parked car C.) Damage to a neighbor's lawn mower in the care of the insured D.) Damage to the home the insured owns - B.) Damage to a neighbor's parked car Which of the following is true regarding the Fine Arts Floater? A.) Coverage is limited to the United States, Canada, and Mexico B.) Coverage is primarily for stam...

Gold Coast School Real Estate Questions (Chapter1-19) 100% Accurate 1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in t...

New York State Property and Casualty Licensing Exam Questions and Answers Graded A+ Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. pro rata liability If a loss occurs that is covered...

Which of the following correctly describes a principal difference between a dwelling policy and a homeowners policy? A.) A dwelling policy only covers the dwelling, other structures, personal property, fair rental value, and additional living expenses. It does not cover liability. B.) Both policies are almost identical, except that the homeowners policy focuses on the more expensive homes. C.) A dwelling policy requires that the owner occupy the dwelling. D.) Although any one- to four-fami...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...