Nevada Property & Casualty Exam Fx Simulation 2 (A+ GRADED)

Duties of the insurer found in property policy conditions include all of the following EXCEPT a) Return any premiums to the insured. b) Notify the insured in the event of financial difficulty. c) Pay covered losses. d) Provide advance notice of cancellation. correct answers B Duties of the insurer found in property policy conditions include all of the following EXCEPT a) Return any premiums to the insured. b) Notify the insured in the event of financial difficulty. c) Pay covered losses. d) Provide advance notice of cancellation. correct answers B According to the appraisal condition of a homeowners policy, what procedure may be followed if the insurer and insured do not agree as to the size of a loss? a) The policyholder is allowed to hire an appraiser, and the insurer will pay the amount determined. b) Each side selects its own appraiser, and the appraisers select an umpire to settle any differences between the appraisers. c) The insured is required to accept what the insurer is willing to pay. d) The parties must pursue a lawsuit. correct answers B According to the appraisal condition of a homeowners policy, what procedure may be followed if the insurer and insured do not agree as to the size of a loss? a) The policyholder is allowed to hire an appraiser, and the insurer will pay the amount determined. b) Each side selects its own appraiser, and the appraisers select an umpire to settle any differences between the appraisers. c) The insured is required to accept what the insurer is willing to pay. d) The parties must pursue a lawsuit. correct answers B In a participation plan, the insured may be eligible for which of the following? a) An increase in insurance over time b) Lower premiums c) Guaranteed dividends d) A partial premium refund correct answers D In a participation plan, the insured may be eligible for which of the following? a) An increase in insurance over time b) Lower premiums c) Guaranteed dividends d) A partial premium refund correct answers D