SC P&C INSURANCE ACTUAL EXAMS SCRIPT
QUESTIONS AND ANSWERS SURE A+
✔✔Consumer Reports - ✔✔Written and /or oral statements regarding a consumer's
credit, character, reputation, or habits collected by a reporting agency from employment
records, credit reports, and other public sources.
✔✔Contract - ✔✔A binding agreement between two or more persons that is
enforceable by law
✔✔Controlled Business - ✔✔An entity that obtains and possesses a license solely for
the purpose of writing business on the owner, immediate family, relatives, employer and
employees.
✔✔Concurrent Causation - ✔✔multiple events leading to one loss
✔✔Death Benefit - ✔✔The amount payable upon the death of the person whose life is
insured.
✔✔Declarations - ✔✔The who, what, where, when, how of the policy. Also includes
premiums
✔✔Deductible - ✔✔A set amount that the holder of an insurance policy must pay for
each loss before the insurance company pays out.
, ✔✔Defamation - ✔✔An unfair trade practice in which one agent or insurer makes an
injurious statement about another with the intent of harming the person's or company's
reputation.
✔✔Deposit Premium Audit - ✔✔A condition that allows the insurer to audit the insured's
books or records at the end of the policy term to make sure adequate premium has
been collected for the exposure.
✔✔Depreciation - ✔✔Any decrease or loss in value caused by age, wear, or market
conditions
✔✔Direct Losses - ✔✔Physical damage to buildings and/or personal property as a
result of direct consequence of a particular peril.
✔✔Director - ✔✔the head of the state department of insurance
✔✔Disability - ✔✔A mental or physical impairment that substantially limits one or more
major life activities.
✔✔Disclosure - ✔✔An act of identifying the name of the producer, representative or
firm, limited insurance representative, or temporary insurance producer on any policy
solicitation.
✔✔Domestic Insurer - ✔✔An insurance company that conducts business in the state of
incorporation.
✔✔Domicile of Insurer - ✔✔Insurer's location of incorporation and the legal ability to
write business in a state.
✔✔Economic Loss - ✔✔the estimated total cost of and accident, both insured and
unisured
✔✔Endorsement - ✔✔A document, agreed to by both parites, that is attached to the
policy and modifies or chages the original policy in some way.
✔✔Estoppel - ✔✔a legal impediment to denying a fact or restoring a right that has been
previously waived
✔✔Excess Policy - ✔✔a policy that only pays for loss after the primary policy has paid
its limit
✔✔Exclusions - ✔✔Causes of loss, exposures, conditions, etc. listed in the policy for
which the benefits will not be paid.
QUESTIONS AND ANSWERS SURE A+
✔✔Consumer Reports - ✔✔Written and /or oral statements regarding a consumer's
credit, character, reputation, or habits collected by a reporting agency from employment
records, credit reports, and other public sources.
✔✔Contract - ✔✔A binding agreement between two or more persons that is
enforceable by law
✔✔Controlled Business - ✔✔An entity that obtains and possesses a license solely for
the purpose of writing business on the owner, immediate family, relatives, employer and
employees.
✔✔Concurrent Causation - ✔✔multiple events leading to one loss
✔✔Death Benefit - ✔✔The amount payable upon the death of the person whose life is
insured.
✔✔Declarations - ✔✔The who, what, where, when, how of the policy. Also includes
premiums
✔✔Deductible - ✔✔A set amount that the holder of an insurance policy must pay for
each loss before the insurance company pays out.
, ✔✔Defamation - ✔✔An unfair trade practice in which one agent or insurer makes an
injurious statement about another with the intent of harming the person's or company's
reputation.
✔✔Deposit Premium Audit - ✔✔A condition that allows the insurer to audit the insured's
books or records at the end of the policy term to make sure adequate premium has
been collected for the exposure.
✔✔Depreciation - ✔✔Any decrease or loss in value caused by age, wear, or market
conditions
✔✔Direct Losses - ✔✔Physical damage to buildings and/or personal property as a
result of direct consequence of a particular peril.
✔✔Director - ✔✔the head of the state department of insurance
✔✔Disability - ✔✔A mental or physical impairment that substantially limits one or more
major life activities.
✔✔Disclosure - ✔✔An act of identifying the name of the producer, representative or
firm, limited insurance representative, or temporary insurance producer on any policy
solicitation.
✔✔Domestic Insurer - ✔✔An insurance company that conducts business in the state of
incorporation.
✔✔Domicile of Insurer - ✔✔Insurer's location of incorporation and the legal ability to
write business in a state.
✔✔Economic Loss - ✔✔the estimated total cost of and accident, both insured and
unisured
✔✔Endorsement - ✔✔A document, agreed to by both parites, that is attached to the
policy and modifies or chages the original policy in some way.
✔✔Estoppel - ✔✔a legal impediment to denying a fact or restoring a right that has been
previously waived
✔✔Excess Policy - ✔✔a policy that only pays for loss after the primary policy has paid
its limit
✔✔Exclusions - ✔✔Causes of loss, exposures, conditions, etc. listed in the policy for
which the benefits will not be paid.
