Study guides, Class notes & Summaries

IDAHO PROPERTY AND CASUALTY EXAM PREP LATEST 2024 WITH EXPERT CERTIFIED QUESTIONS AND ANSWERS I ALREADY GRADED A+ NEW!

IDAHO PROPERTY AND CASUALTY EXAM PREP LATEST 2024 WITH EXPERT CERTIFIED QUESTIONS AND ANSWERS I ALREADY GRADED A+ NEW!

IDAHO PROPERTY AND CASUALTY EXAM PREP WITH 150 REAL EXAM QUESTIONS AND 100% CORRECT ANSWERS/ IDAHO PROPERTY & CASUALTY EXAM PRACTICE QUESTIONS AND CORRECT ANSWERS GRADED A(BRAND NEW!!)

If I want Replacement Cost coverage on my $200,000 home, I need to purchase how much insurance? a.$60,000 b.$100,000 c.$160,000 d.$200,000 - 80% of $200,000 is $160,000. The HO only provides Replacement Cost coverage on the structures if they are insured to 80% of value. The correct answer is: $160,000 Water damage to a building resulting from fire fighting efforts is: a.a direct loss indirect loss - direct loss A car is destroyed by a hurricane. This is: Select one: occurrence a...

Idaho Property and Casualty Exam Review Questions Correctly Answered A score If I want Replacement Cost coverage on my $200,000 home, I need to purchase how much insurance? a.$60,000 b.$100,000 c.$160,000 d.$200,000 - 80% of $200,000 is $160,000. The HO only provides Replacement Cost coverage on the structures if they are insured to 80% of value. The correct answer is: $160,000 Water damage to a building resulting from fire fighting efforts is: a.a direct loss indirect loss - dir...

Idaho Property and Casualty Comprehensive Exam 2024 Any financial interest in life or property such that, if the life or property were lost or harmed, the insured would suffer financially. Express Interest Insurable Interest Implied Interest Real Interest - Insurable Interest What are the 3 elements of insurable risk? Financial, Business, Loss Blood, Loss, Interest Financial, Blood, Business Business, Blood, Body - Financial, Blood, Business When must insurable interest exis...

If I want Replacement Cost coverage on my $200,000 home, I need to purchase how much insurance? a.$60,000 b.$100,000 c.$160,000 d.$200,000 - 80% of $200,000 is $160,000. The HO only provides Replacement Cost coverage on the structures if they are insured to 80% of value. The correct answer is: $160,000 Water damage to a building resulting from fire fighting efforts is: a.a direct loss indirect loss - direct loss A car is destroyed by a hurricane. This is: Select one: occurrence a...

Bailee - Answer An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - Answer Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - Answer A property policy provision that changes the valuation method otherwise applicable (ACV or RV) to a valuation method that allows reimbursement to the insured, according to the price a willing buye...

Insurance - Answer The transfer of risk through a legal contract Property - Answer Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty - Answer covers non-property losses (3rd Party) Personal lines - Answer Insurance for families and individuals Commercial Lines - Answer Insurance for Business Risk - Answer Uncertainty of financial loss Pure Risk - Answer Chance of loss only (insurance only covers) Sp...

Director examination of insurer at least once every ________ years - Answer 5 Maximum fine of ________ for an individual for each insurance code violation, imprisonment for ________ months or both - Answer $1000, 6 Maximum insurer insurance code fine per violation - Answer $5000 Maximum fine for transacting insurance without a license - Answer $15,000 Lapsed licenses may be reinstated within ________ (months) upon payment of fees and completion of CE credit hours - Answer 12 A non...