GUIDEWIRE FUNDAMENTALS QUESTIONS AND ANSWERS

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GUIDEWIRE FUNDAMENTALS QUESTIONS AND ANSWERS

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Institution GuidWire Fundamentals

Course GuidWire Fundamentals

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GUIDEWIRE FUNDAMENTALS QUESTIONS AND ANSWERS

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GUIDEWIRE FUNDAMENTALS
QUESTIONS AND ANSWERS

Every58Policy58will58have58these58two58things58-58answer--
Effective58Date58&58Expiration58Date

The58Period58of58time58between58the58Effective58Date58and58Expiration58Date58is58called
?58-58answer--The58Policy58Term58(Usually58658Months58or58158Year)

What58is58the58difference58between58Policy58Term58and58Policy58Period?58-58answer--
Can58be58multiple58Periods58within58a58Term

Submissions58are?58-58answer--
The58transaction58in58GuideWire58that58will58create58a58Policy,58either58as58a58Quote58or
58Binded58&58Issued.

Most58Submissions58do58not58end58in58a58Policy58because?58-58answer--
Insured58does58not58qualify58for58the58insurance58or58an58acceptable58quote58is58not58fo
und.

What58are58Policy58Changes?58-58answer--
They58will58change58some58aspect58of58the58Policy58before58the58Expiration58Date.58Cha
nges58could58be:
-58Coverables58added58or58removed58from58the58Policy
-58Coverages58added58or58removed58from58Coverables
-58Coverage58Terms58to58be58modified.

How58is58a58Material58Change58different58from58a58Policy58Change?58-58answer--
Material58Change58will58affect58the58item58covered,58eg58Cars58/58Buildings.

What58is58Renewal?58-58answer--
Renewal58happens58at58the58end58of58a58Policy,58and58usually58a58Policy58is58renewed58
with58the58same58conditions58as58the58previous58term58and58may58include58changes58to5
8coverables,58coverages58or58premiums.58If58a58policy58is58not58renewed58then58it58will58
simply58expire.

What58is58a58Policy58Cancellation?58-58answer--
Policies58can58also58be58cancelled58(before58its58expiration58date)58either58by58the58insu

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Uploaded on: July 12, 2025
Number of pages: 2
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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