Property And Casualty Exam With Latest Solutions 2024

Property And Casualty Exam With Latest Solutions 2024 the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - correct which of the following coverages does an open peril policy provide? - correct s other than those specifically named as being excluded determine the actual cash value in the following situation: original price of office equiptment when purchased 8 years ago- 9,000. depreciated amount at time of fire-5,000 current replacement cost 12,000 - correct answer.7,000 liquor liability - correct for a dram shot, liquor, or package store inherent vice or defect - correct rusting, milk going sour, rubber breaking down are all inherent vices how is hitting an animal on the road covered? - correct than collision otc medicare supplement insurance - correct medical gap insurance. must include core benefits ordinance or law - correct endorsement for building code upgrades loss sustained/discovery forms under crime coverage - correct is for later than the policy period. discovery is for before the policy (loss is later, discovery before) designated brush fire or civil unrest areas - correct fying areas under the fair plan stop loss provision - correct in health insurance to limit the maximum amount of money the insured would have to pay out of pocket on a health claim in any particular claim shortages of inventory - correct crime insurance the employee dishonesty endorsement never covers can the mortgagee still collect if the insured burns their house down - correct , the mortgage clause is a standard provision otc covers - correct quake, flood, hail, theft, hitting an animal, gunshots (no collision or upset) law of large numbers - correct greater the number of insured the more accurately the prediction where does a driver have coverage? - correct answer.U.S. Canada and US possessions eg puerto rico, guam what is excluded under commercial general liability? - correct tion-with the exception of fuel spilled during normal operations. Pollution is normally covered under cpp or builders risk what is the midi-tail on claims made? - correct des 5 years coverage for something reported during minitail speculative risk - correct e for loss or gain commercial package - correct ar policy Binder - correct answer.a temp insuring contract (written or oral) Hazard - correct ing that increases a chance for loss OTC - correct ing causing loss or damage to the car, except collision you have liability only and borrow a car and collide with another. which pays? - correct borrowed cars insurance is primary basic broad special: which has the broadest coverage? - correct al gap insurance - correct the difference between the amount an insurer pays on a totaled car and the amount owed on the loan or lease eligibility/enrollment period - correct in life and health group benefits without having to prove insurability symbol 9 - correct -owned autos