Sc insurance - Study guides, Class notes & Summaries

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SC Property, Casualty, Surety, Marine Exam Revised Questions And Correct Answers Accumulated Depreciation - ANSWER : The total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWER : The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWER : A valuat...

SC INSURANCE FINAL EXAM QUESTIONS AND ANSWERS RATED A+ all of the following are typically included in a life insurance policy illustration EXCEPT: A. premium of the policy B. names of the beneficiaries C. interest charged for policy loans D. cash surrender value in 20 years B. names of the beneficiaries during the course of an insurance transaction, which of the following is NOT a duty of the producer? A. highlight the protections guaranteed by the guaranty association B. be fa...

SC P&C Insurance Exam Study Guide Latest Version Graded A+ Abandonment the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident an unplanned, unforseen event which occurs suddenly and at a s...

SC Insurance License Exam with correct Answers

SC Insurance License Exam with correct Answers

SC P&C Insurance Exam Questions and Answers (Latest Update 2024)

SC P&C Insurance Exam Study Guide

SC P&C Insurance Exam Study Guide Questions And Answers Abandonment - ANS the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - ANS Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - ANS an unplanned, unforseen event which occurs s...

©BRAINBARTER 2024/2025 SC Insurance Brokers Exam Surplus Lines Insurance Broker - Series 19-26 Questions With 100% Verified Answers Resident Licensing Requirements - answer1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements - answer1. File application on form prescribed by the direct...

Resident Licensing Requirements o :## 1. Be licensed as a resident property and casualty insurance producer. o 2. Pass the SC broker licensing examination with 70% or better. o 3. Pay a biennial fee of $200 o 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements o :## 1. File application on form prescribed by the director. o 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to o...