Businessowners policy - Study guides, Class notes & Summaries

NC ADJUSTER LICENSE PRACTICE EXAM 2024/2025 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER Replacement cost min...

Abandonment - - Insurance company may choose to take damaged property and pay insured the value - Insured CANNOT surrender damaged property to insurance company Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the measures around it. (ex. Should we transfer it, retain it etc.) Admitted (standard or retail) Insurance companies - Regulated by the state, They often must subscribe to rating and form regulations of that state. Agent or Broker - "In...

The businessowners policy liability coverage will pay for necessary medical expenses of others within what maximum time period? correct answers 1 Year Which of the following covers a carrier for liability for loss to cargo while it is being transported in a truck? correct answers Moto truck cargo policy- truckers form In which of the following types of property valuation will the policy pay the full value specified on the policy schedule, regardless of the insured property's appreciation ...

Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. correct answers Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Installed computers (in vehicles etc) Electroni...

FX,VA PROPERTY & CASUALTY INSURANCE EXAM QUESTIONS AND ACCURATE ANSWERS//ALREADY GRADED A+ The members of a limited liability company are insureds under a businessowners policy (BOP) if FX,VA PROPERTY & CASUALTY INSURANCE EXAM QUESTIONS AND ACCURATE ANSWERS//ALREADY GRADED A+ The members of a limited liability company are insureds under a businessowners policy (BOP) if FX,VA PROPERTY & CASUALTY INSURANCE EXAM QUESTIONS AND ACCURATE ANSWERS//ALREADY GRADED A+ The members of a limited l...

Texas All Lines Adjuster Exam Questions And Answers Graded A+ All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: Correct Answer: While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implied warranties of an Ocean Ma...

Texas all lines adjuster exam 378 Questions with 100% Correct Answers LATEST UPDATES 2023 All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: - correct answers-While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implie...

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 RATED A+ Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. For a loss that would otherwise be covered for th...

Texas All Lines Adjuster Exam 2023 Questions and Answers (Graded A)Texas All Lines Adjuster Exam 2023 Questions and Answers (Graded A)Texas All Lines Adjuster Exam 2023 Questions and Answers (Graded A) All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: - ANSWER-While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employe...

Pearson VUE: Property Insurance Practice Exam Already Passed S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 C The MAXIMUM amount a policy will pay in the event of a loss is ca...