Windstorm - Study guides, Class notes & Summaries

2022/2023 Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS 1. PERILS: A CAUSE OF PROPERTY LOSSES UNDER AN INSURANCE CON- TRACT EX: WINDSTORM, HURRICANE, EXPLOSION, COLLAPSE OF BUILD- ING, VANDALISM, ACCIDENTAL DISCHARGE, AND THEFT 2. LAW OF LARGE NUMBERS: A FUNDAMENTAL CONCEPT IN STATISTICS AND PROBABILITY THAT DESCRIBES HOW THE AVERAGE OF A RANDOM- LY SELECTED LARGE SAMPLE FROM A POPULATION. IT BASICALLY RE- LIES ON THE PRINCIPLE THAT THE LARGER THE POOL, THE MORE PRE- DICTAB...

General Insurance Level 1 – Alberta Questions And Corrected Answers 2024 Review <100% Pass!!> Your insured, a sole proprietor, purchased a building valued at $1 million. The insurance policy has a coinsurance clause based on the replacement cost value of 90%. Contrary to your advice, your insured insures the building for only $500,000. He suffers a windstorm loss totaling $150,000. How much will the insurer pay? a) $75,000 b) $83,333 c) $150,000 d) $93.755 - ANSWER : b...

Texas All Lines Adjuster Exam LATEST ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ DP - valuation - CORRECT ANSWER DP-1 - ACV building & contents DP-2/3 - RCV building & ACV contents DP - limit for fair rental value - CORRECT ANSWER 20% of A DP - coverages (A-E) - CORRECT ANSWER A - dwelling B - other structures C - personal property D - fair rental value E - additional living expense DP - limit for additional living expenses - CORRECT ANSWER DP-...

Nevada Property and Casualty Exam Questions and Answers 100% Correct A insurance binder is effective for no more than - Answer- 90 Days Mr. Underwood gave his agent a down payment for the purchase of a business insurance policy. The insurance company issued a policy that promises to pay Mr. Underwood under terms and conditions stated in the policy. What specific term is used to refer to Mr. Underwood's payment and the insurance company's promise to pay? - Answer- Consideration Which of...

Subordination Correct Answer: When the insured collets damages from his or her own insurance company and those damages were caused by negligent third-party, the insurance company steps into the shoes of the insured and is entitled to recover the damages actually paid to the insured from the negligent party liability insurance Correct Answer: Means that the payment by the insurance company will be made to a third-party injured or damaged by the insured. An insured can we never recover damage...

CAM Final Review Exam Questions & Answers 2024/2025 The pH of the pool water must be maintained at: - ANSWERS7.2-7.8 A person who manages a rental apartment complex _______ a community association managers license - ANSWERSMay, but is not required to have Condominium and cooperative associations pay an annual fee of $____ per residential unit, per _____ to the DFCTSMH trust fund - ANSWERS$4.00 / per year Toca chica cooperative, with 35 units, has joined with Levitz office condomini...

AINS 103 Study Guide (Latest 2023/ 2024 Update) Exploring Commercial Insurance | Complete with Questions and Verified Answers| 100% Correct| Grade A Q: Marine insurance includes both ocean and inland marine coverage in the U.S. only Answer: TRUE Q: Disease thought to be caused by work or the work environment. Answer: Occupational disease Q: A description of the property insured would be located on the ________ _____ of a CPP Answer: Declarations page Q: ...

Which one of the following describes a windstorm under an insurance policy? -:- A wind of any velocity having sufficient force to cause damage In a specified perils policy, a loss is covered only if -:- The cause of loss is listed. A mortgagee's rights under a property insurance policy can best be described as -:- Independent of the named insured's rights and duties. A specific exclusion common to most property policies is -:- Ordinance or law. Paco Campos accidentally tosses a cig...

The Citizen Insurance standard deductible for a mobile home homeowner is: correct answers$500/2% hurricane Medicare supplement insurance is returnable within____of purchase for a full refund. correct answers30 days All of the following are typical health insurance exclusions, except: a. mental illness b. accidental injury c. war d. childbirth correct answersb. accidental injury Which is not Aviation policy named peril? a. fire b. windstorm c. theft d. weight of ice and snow ...

What are some examples of adverse selection and how can commercial underwriters minimize the effects of it? 1.3 correct answers 1. Business owners in areas prone to coastal storms purchase windstorm coverage or increase their limits only before hurricane season—when they expect severe losses. 2. A disproportionate percentage of business owners in an earthquake-prone zone purchase earthquake insurance, compared with other business owners. **Underwriters minimize the effects of adverse sele...