North Carolina Property & Casualty Insurance
Exam: Key Concepts & Laws
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North Carolina Property & Casualty Insurance Exam: Key Concepts & Laws
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lindseymb25
Terms in this set (40) Hide definitions
Which peril is excluded under the Flood is excluded under the standard HO-3
standard HO-3 homeowners policy homeowners policy in North Carolina.
in North Carolina?
What is the purpose of the principle The purpose of the principle of indemnity is to
of indemnity? restore insureds to pre-loss condition.
, Which NC law prohibits The Unfair Trade Practices Act prohibits
misrepresentation, rebating, and misrepresentation, rebating, and twisting.
twisting?
A North Carolina homeowner carries $30,000 will be paid.
$120,000 insurance on a $200,000
home with an 80% coinsurance
requirement. A $40,000 loss occurs.
How much will be paid?
Which coverage applies if a driver Liability coverage applies if a driver strikes a
strikes a pedestrian in North pedestrian.
Carolina?
Which hazard describes leaving Morale hazard describes leaving candles burning
candles burning unattended? unattended.
What is the free-look period for life The free-look period for life insurance policies in
insurance policies in NC? NC is 10 days.
Which coverage applies to detached Coverage B applies to detached garages under
garages under homeowners homeowners insurance.
insurance?
Exam: Key Concepts & Laws
Leave the first rating
Save
Students also studied
From the same upload Flashcard sets Study guides
North Carolina Property & Casualty Insurance Exam: Key Concepts & Laws
Study guide
lindseymb25
Terms in this set (40) Hide definitions
Which peril is excluded under the Flood is excluded under the standard HO-3
standard HO-3 homeowners policy homeowners policy in North Carolina.
in North Carolina?
What is the purpose of the principle The purpose of the principle of indemnity is to
of indemnity? restore insureds to pre-loss condition.
, Which NC law prohibits The Unfair Trade Practices Act prohibits
misrepresentation, rebating, and misrepresentation, rebating, and twisting.
twisting?
A North Carolina homeowner carries $30,000 will be paid.
$120,000 insurance on a $200,000
home with an 80% coinsurance
requirement. A $40,000 loss occurs.
How much will be paid?
Which coverage applies if a driver Liability coverage applies if a driver strikes a
strikes a pedestrian in North pedestrian.
Carolina?
Which hazard describes leaving Morale hazard describes leaving candles burning
candles burning unattended? unattended.
What is the free-look period for life The free-look period for life insurance policies in
insurance policies in NC? NC is 10 days.
Which coverage applies to detached Coverage B applies to detached garages under
garages under homeowners homeowners insurance.
insurance?
