Rhode Island Casualty Property Exam 2024 with 100% correct answers

Powers and Duties of the Commissioner - correct answer Broad powers, examination of records, notice and hearing, penalties. Minimum Limits of financial responsibility - correct answer 25/50/25 or $75,000 combined single limit Unfair Claim Practice - correct answer Failing to respond within 30 days Free Choice of Repair Shop - correct answer Insurer may not interfere OEM parts - correct answer May not be used without written consent Risk - correct answer uncertainty concerning the occurrence of a loss Foreseeability - correct answer The ability of a reasonable person to anticipate the consequence of an action cease and desist order - correct answer An administrative or judicial order prohibiting a person or business firm from conducting activities that an agency or court has deemed illegal. Inland Marine Insurance - correct answer Insurance that covers many different classes of property that typically involve an element of transportation. HO3 - correct answer This special form homeowner's hazard insurance policy offers the most coverage for the most reasonable price, and is the preferred policy on primary residences. It covers both real and personal property.