C12 Insurance on Property- Midterm
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Questions And Answers |\ |\
Prestation is defined as - CORRECT ANSWERS ✔✔A duty, a
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payment of money or service |\ |\ |\ |\
A peril is - CORRECT ANSWERS ✔✔The event that caused a loss
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covered by the policy |\ |\ |\
The definition of riot is - CORRECT ANSWERS ✔✔An Act or threat
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of violence by one or more persons who are part of an assembly
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or three or more persons.
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An event that might give rise to damage to property or injury to
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persons.
Fluvial flooding is - CORRECT ANSWERS ✔✔caused by the
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overflow of a river |\ |\ |\
A Chattel mortgage is - CORRECT ANSWERS ✔✔a mortgage on a
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moveable item of property |\ |\ |\
The mortgage clause - CORRECT ANSWERS ✔✔A property
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insurance provision granting special protection for the interest of
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a mortgagee
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,A domestic water container will encompass - CORRECT ANSWERS
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✔✔outdoor private swimming pools or wading pools
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Ground water - CORRECT ANSWERS ✔✔is water found in the
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cracks and spaces in the soil sand and rock beneath the ground
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Fungi is - CORRECT ANSWERS ✔✔identified in the comprehensive
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and broad forms because they are all firks forms and therefore
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the term must be described, so that is can be excluded
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A residence employee is - CORRECT ANSWERS ✔✔a neighbor that
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you pay to do housework for you once a month. Someone who is
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looking after your elderly mother while you are working during
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the day. A full time cook, who prepares breakfast and lunch for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
your children and evening dinner for the whole family.
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In the basic fire policy, for how many days does the removal of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insured property extension apply to removal of insured property
|\ |\ |\ |\ |\ |\ |\ |\ |\
from an insured location? - CORRECT ANSWERS ✔✔7 days or until
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the policy expires
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Property insurance is considered - CORRECT ANSWERS ✔✔First-
|\ |\ |\ |\ |\ |\ |\ |\
party insurance |\
Once the insured has completed the proof of loss, the insurer is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
required to respond to it and make payment within - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔60 days |\ |\
, Statutory condition 13, Replacement, states that the insurer must
|\ |\ |\ |\ |\ |\ |\ |\
begin repairing, replacing or rebuilding the damaged property
|\ |\ |\ |\ |\ |\ |\ |\ |\
within - CORRECT ANSWERS ✔✔45 days from its receipt of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
proof of loss |\ |\
The Freedom of Information and Protection of Privacy Act
|\ |\ |\ |\ |\ |\ |\ |\ |\
(FOIPPA) applies to all provinces except - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Quebec and the territories |\ |\ |\
Falling objects refers to an object - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Striking the exterior roof or walls of the building |\ |\ |\ |\ |\ |\ |\ |\
How long is the average lifespan of a domestic hot-water heater?
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- CORRECT ANSWERS ✔✔10-20 years
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Which of the following insurance policies covers two or more
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
lines or types of insurance - CORRECT ANSWERS ✔✔Package
|\ |\ |\ |\ |\ |\ |\ |\ |\
policy
What type of mortgage conveys an interest in property other
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
than land and buildings as security for a debt? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Chattel mortgage |\ |\
The mortgagee is required to notify the insurer immediately on
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
learning of any vacancy or non-occupancy extending beyond -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔30 days |\ |\ |\
|\ |\ |\ |\ |\
Questions And Answers |\ |\
Prestation is defined as - CORRECT ANSWERS ✔✔A duty, a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
payment of money or service |\ |\ |\ |\
A peril is - CORRECT ANSWERS ✔✔The event that caused a loss
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
covered by the policy |\ |\ |\
The definition of riot is - CORRECT ANSWERS ✔✔An Act or threat
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of violence by one or more persons who are part of an assembly
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
or three or more persons.
|\ |\ |\ |\
An event that might give rise to damage to property or injury to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
persons.
Fluvial flooding is - CORRECT ANSWERS ✔✔caused by the
|\ |\ |\ |\ |\ |\ |\ |\ |\
overflow of a river |\ |\ |\
A Chattel mortgage is - CORRECT ANSWERS ✔✔a mortgage on a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
moveable item of property |\ |\ |\
The mortgage clause - CORRECT ANSWERS ✔✔A property
|\ |\ |\ |\ |\ |\ |\ |\
insurance provision granting special protection for the interest of
|\ |\ |\ |\ |\ |\ |\ |\ |\
a mortgagee
|\
,A domestic water container will encompass - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔outdoor private swimming pools or wading pools
|\ |\ |\ |\ |\ |\ |\
Ground water - CORRECT ANSWERS ✔✔is water found in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
cracks and spaces in the soil sand and rock beneath the ground
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Fungi is - CORRECT ANSWERS ✔✔identified in the comprehensive
|\ |\ |\ |\ |\ |\ |\ |\
and broad forms because they are all firks forms and therefore
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the term must be described, so that is can be excluded
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
A residence employee is - CORRECT ANSWERS ✔✔a neighbor that
|\ |\ |\ |\ |\ |\ |\ |\ |\
you pay to do housework for you once a month. Someone who is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
looking after your elderly mother while you are working during
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the day. A full time cook, who prepares breakfast and lunch for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
your children and evening dinner for the whole family.
|\ |\ |\ |\ |\ |\ |\ |\
In the basic fire policy, for how many days does the removal of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insured property extension apply to removal of insured property
|\ |\ |\ |\ |\ |\ |\ |\ |\
from an insured location? - CORRECT ANSWERS ✔✔7 days or until
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the policy expires
|\ |\ |\
Property insurance is considered - CORRECT ANSWERS ✔✔First-
|\ |\ |\ |\ |\ |\ |\ |\
party insurance |\
Once the insured has completed the proof of loss, the insurer is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
required to respond to it and make payment within - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔60 days |\ |\
, Statutory condition 13, Replacement, states that the insurer must
|\ |\ |\ |\ |\ |\ |\ |\
begin repairing, replacing or rebuilding the damaged property
|\ |\ |\ |\ |\ |\ |\ |\ |\
within - CORRECT ANSWERS ✔✔45 days from its receipt of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
proof of loss |\ |\
The Freedom of Information and Protection of Privacy Act
|\ |\ |\ |\ |\ |\ |\ |\ |\
(FOIPPA) applies to all provinces except - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Quebec and the territories |\ |\ |\
Falling objects refers to an object - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Striking the exterior roof or walls of the building |\ |\ |\ |\ |\ |\ |\ |\
How long is the average lifespan of a domestic hot-water heater?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔10-20 years
|\ |\ |\ |\ |\
Which of the following insurance policies covers two or more
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
lines or types of insurance - CORRECT ANSWERS ✔✔Package
|\ |\ |\ |\ |\ |\ |\ |\ |\
policy
What type of mortgage conveys an interest in property other
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
than land and buildings as security for a debt? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Chattel mortgage |\ |\
The mortgagee is required to notify the insurer immediately on
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
learning of any vacancy or non-occupancy extending beyond -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔30 days |\ |\ |\
