Xcel Solutions Property & Casualty Test | 120 Questions with 100% Correct Answers | Verified | Latest Update 2024

An earned premium resulting from the cancellation of a policy is calculated on: - On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: - Excess Direct Coverage An insurance company writing business in a state other than the one in which it is domiciled is called: - a Foreign Y is running a home daycare out of their home & has just earned $50,000 in her first year of business. Under an HO policy, Y's daycare is defined as: - Not a business Underwriting guards against - Adverse Selection A licensee whose name or address changes must notify the Dept of Insurance within _____ days: - 30 Days Assumption of risk: - States that a party will not collect damages because they should have known what they were doing was risky