Virginia Property and Casualty Insurance Bundled Exams Questions and Answers (2024/2025) (Complete and Accurate)

Property and Casualty Principles Review Test Already Passed In order to get a loan to buy a car, John had to obtain insurance on the car. The purpose of the insurance requirement is to A - protect the lender's financial interest in the car in the event it is damaged or destroyed B - cr...

Property and Casualty Chapter 2 Exam with Complete Solutions When a building has physical contents but no occupants, the building is said to be Unoccupied Under the Other Insurance condition, when two property policies cover the same property, how is a loss apportioned? Each policy will s...

Virginia Property and Casualty Insurance Exam Prep Latest Update Graded A+ Coninsurance A provision in a member's coverage that limits the amount of paid for a loss by the plan to a certain percentage (commonly 80%). failure to maintain coverage of 80% replacement value means the insured i...

Property & Casualty Virginia Latest Update Graded A+ stock insurance company owned by stockholders mutual insurance company owned by policyholders reciprocal insurance company group-owned insurer whose main activity is risk sharing lloyds of london not an insurance company, but consis...

VA Property & Casualty Exam FX, Insurance Exam with Complete Solutions The members of a limited liability company are insureds under a businessowners policy (BOP) if The limited liability company is designated as the named insured. An endorsement added to a businessowners policy that prov...

Virginia Property and Casualty Insurance Questions and Answers Already Passed What is based on the principle of Risk Transfer Spreading the results of a financial loss among many persons, so the cost to any one person is small What kind of risk has an outcome that is uncertain? Speculativ...

VA Property & Casualty Questions and Answers Rated A+ State Corporation Commission (SCC) carries out all insurance laws in VA (regulates too) (can examine/investigate people too) The SCC examines an insurer licensed in VA at least once every BLANK 5 years person that KNOWINGLY violates ...