MN PROPERTY & CASUALTY INSURANCE, MN INSURANCE EXAM PROPERTY & CASUALTY 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

MN PROPERTY & CASUALTY INSURANCE, MN INSURANCE EXAM PROPERTY & CASUALTY 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Declarations - Answer -Policy includes the identity and address of the name insured, the policy term or period, the amount of insurance or limits of liability, the policy premium, and any applicable deductibles. Will also include either a property description or a schedule of coverage parts, and a list of any endorsements. Conditions - Answer -Set provisions, rules of conduct, duties and obligations for the parties. A number of common insurance conditions describe such things as the policy period and territory. It also includes the insured's obligation to provide proof of loss, how settlements are handles when other insurance is involved, and the right of each party to cancel the policy. Exclusions - Answer -May describe property, perils, hazards, or