PERSONAL LINES EXAM PREP TEST b b b b
QUESTIONS WITH ANSWERS b b b
Actual gcash gvalue gis gdefined gas..... g- g gcorrect ganswer-replacement gcost gminus
b b b b b b b b b b b
gdepreciation.
b
Fine garts gare gtypically ginsured gon gan g______ g______ g_____, gwhereby gan
b b b b b b b b b b b
ginsured, gand ginsured gagree, gat gtime gof ginsuring, gon gan gamount gof ginsurance gto
b b b b b b b b b b b b b b
gbe gpaid gat gthe gevent gof ga gloss. g- g gcorrect ganswer-Agreed gValue gBasis
b b b b b b b b b b b b b b
The gowner gof gclothing gto gbe gcleaned gwould gbe ga g______. gThe gdry gcleaner
b b b b b b b b b b b b b
gcleaning gthe gclothes gis gthe g______. g- g gcorrect ganswer-Bailor, gBailee
b b b b b b b b b b b
The ginsurer ghas gthe gright gto gtake gpossession gof gdamaged gproperty gafter
b b b b b b b b b b b
gpayment gof gloss. g- g gcorrect ganswer-True
b b b b b b b
The g______ gcovered gin ga gproperty gpolicy gare galways gin gthe ginsuring gagreement.
b b b b b b b b b b b b
g- g gcorrect ganswer-Perils
b b b b
Additional gliving gexpense gis gan gindirect gloss, gnot ga gdirect gloss. g- g gcorrect
b b b b b b b b b b b b b
ganswer-True
b
When gproperty gis gcovered gon ga g___________ g____ g_____, gthere gis gno
b b b b b b b b b b b
gdeduction gfor gdepriciation. g- g gcorrect ganswer-Replacement gCost gBasis
b b b b b b b b b
____ g_____ g________, gcover grisks gof gdirect gphysical gloss gand gthe gperils gthat
b b b b b b b b b b b b
gare gnot gnamed. g- g gcorrect ganswer-Open gPeril gPolicies
b b b b b b b b b
The ginsuring gagreement gcontains gthe ginsurer's gpromises gto gthe ginsured. gThe
b b b b b b b b b b
ginsureds gname gis gfound gin gthe g____________. g- g gcorrect ganswer-Declarations
b b b b b b b b b b b
The ginsured gis grequired gto gPersonally gmake grepairs gto gtheir gproperty. g- g gcorrect
b b b b b b b b b b b b b
ganswer-False-, gThe ginsured gmay gchoose gwho gwill gmake gthe grepairs.
b b b b b b b b b b
____________ gis ga glegal gprocess gagainst ga gthird gparty, gnot gthe ginsured. g- g b b b b b b b b b b b b b
gcorrect ganswer-Subrogation
b b
______________ gis ga gsituation gthat goccurs gwhen gtwo gpolicies gcovering gthe b b b b b b b b b b
gsame gproperty gcontain gdifferent gcoverages. g- g gcorrect ganswer-Nonconcurrency
b b b b b b b b b
QUESTIONS WITH ANSWERS b b b
Actual gcash gvalue gis gdefined gas..... g- g gcorrect ganswer-replacement gcost gminus
b b b b b b b b b b b
gdepreciation.
b
Fine garts gare gtypically ginsured gon gan g______ g______ g_____, gwhereby gan
b b b b b b b b b b b
ginsured, gand ginsured gagree, gat gtime gof ginsuring, gon gan gamount gof ginsurance gto
b b b b b b b b b b b b b b
gbe gpaid gat gthe gevent gof ga gloss. g- g gcorrect ganswer-Agreed gValue gBasis
b b b b b b b b b b b b b b
The gowner gof gclothing gto gbe gcleaned gwould gbe ga g______. gThe gdry gcleaner
b b b b b b b b b b b b b
gcleaning gthe gclothes gis gthe g______. g- g gcorrect ganswer-Bailor, gBailee
b b b b b b b b b b b
The ginsurer ghas gthe gright gto gtake gpossession gof gdamaged gproperty gafter
b b b b b b b b b b b
gpayment gof gloss. g- g gcorrect ganswer-True
b b b b b b b
The g______ gcovered gin ga gproperty gpolicy gare galways gin gthe ginsuring gagreement.
b b b b b b b b b b b b
g- g gcorrect ganswer-Perils
b b b b
Additional gliving gexpense gis gan gindirect gloss, gnot ga gdirect gloss. g- g gcorrect
b b b b b b b b b b b b b
ganswer-True
b
When gproperty gis gcovered gon ga g___________ g____ g_____, gthere gis gno
b b b b b b b b b b b
gdeduction gfor gdepriciation. g- g gcorrect ganswer-Replacement gCost gBasis
b b b b b b b b b
____ g_____ g________, gcover grisks gof gdirect gphysical gloss gand gthe gperils gthat
b b b b b b b b b b b b
gare gnot gnamed. g- g gcorrect ganswer-Open gPeril gPolicies
b b b b b b b b b
The ginsuring gagreement gcontains gthe ginsurer's gpromises gto gthe ginsured. gThe
b b b b b b b b b b
ginsureds gname gis gfound gin gthe g____________. g- g gcorrect ganswer-Declarations
b b b b b b b b b b b
The ginsured gis grequired gto gPersonally gmake grepairs gto gtheir gproperty. g- g gcorrect
b b b b b b b b b b b b b
ganswer-False-, gThe ginsured gmay gchoose gwho gwill gmake gthe grepairs.
b b b b b b b b b b
____________ gis ga glegal gprocess gagainst ga gthird gparty, gnot gthe ginsured. g- g b b b b b b b b b b b b b
gcorrect ganswer-Subrogation
b b
______________ gis ga gsituation gthat goccurs gwhen gtwo gpolicies gcovering gthe b b b b b b b b b b
gsame gproperty gcontain gdifferent gcoverages. g- g gcorrect ganswer-Nonconcurrency
b b b b b b b b b
