Fundamentals of Insurance Multiple Choice Exam Correct 100%!

Fundamentals of Insurance Multiple every policy of fire insurance ly covers fire,smoke, and specified types of explosions required by law to cover fire, windstorm,and lightning s fire,explosion, and windstorm required by law to cover at least fire, lightning, and specified types of explosions - A required by law to cover at least fire, lightning, and specified types of explosions when the insurer terminates an insurance policy, all of the following conditions apply, except one. pick the EXCEPTION insured is entitled to 15 days' written notice of termination sent by registered mail of 5 days' written notice personally delivered refund due the insured shall be calculated on a short rate basis s otherwise stated, the refund shall accompany the notice of termination refund shall be in the form of money, postal or Express company money order or cheque payable at par - A refund due the insured shall be calculated on a short rate basis under a policy of fire insurance, the insurer would be obligated to pay the following g loss only: damage caused to appliance following a sudden power surge damage to insured buildings occurring during a rebellion e to insured property due to radioactive contamination to property caused by a process involving the application of heat - A damage to insured buildings occurring during a rebellion when the insurer opts to repair, rebuild, or replace damaged property rather than make payment I the form of a cash settlement, it must: provide the insured with the option of accepting or rejecting the proposed basis of settlement de the insured with written notice of its intention to do so within 30 days after receipt of proof of lo Choice Exam Correct 100%!