Your customer has HO-B homeowners policy with a Coverage A limit os $300,000. His
mortgage payment is $1,400 per month. He can't stay in his home for 1 month due to a
claim that was caused by smoke. He is staying in a local hotel for 1 month. The cost of
the hotel is $900 for the moth. How much will you pay your policyholder for
Additional Living Expenses
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$900
,Increase cost of compliance (ICC) provides coverage up to?
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$30,000
Johnny has 30/60/25 limits on his auto policy, and he negligently ran into a parked car
driven by Steve Garcia. What is the maximum amount of coverage that can be
provided for the damage to Steve's car?
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25,000
Morris has a Texas Dwelling policy on his property. His property burns down in a fire.
He claims that he has also sustained a financial loss because he is not able to rent the
property to his tenants. What can you tell him?
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He has coverage for loss of fair Rental Value
What type of contract exists when the insurance policy is valid even though there is
an unequal exchange?
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, Aleatory Contract
Failure to comply with terms or conditions of an insurance policy that may result in
restricted coverage or void the policy?
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Breach of contract
Millennium vessel company sustained damage to one of their vessels that was
transporting goods across the golf of Mexico. Which policy would they need in order
to get their damaged vessel repaired?
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They would need ocean Marine policy
Which of the following statements is true?
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Bullion/valuable papers is limited to $500 for all cause of loss
What is any intentional lying or misrepresentation by policyholders in order to inflate
a claims payment or receive a claims payment that would otherwise not be paid
mortgage payment is $1,400 per month. He can't stay in his home for 1 month due to a
claim that was caused by smoke. He is staying in a local hotel for 1 month. The cost of
the hotel is $900 for the moth. How much will you pay your policyholder for
Additional Living Expenses
Give this one a try later!
$900
,Increase cost of compliance (ICC) provides coverage up to?
Give this one a try later!
$30,000
Johnny has 30/60/25 limits on his auto policy, and he negligently ran into a parked car
driven by Steve Garcia. What is the maximum amount of coverage that can be
provided for the damage to Steve's car?
Give this one a try later!
25,000
Morris has a Texas Dwelling policy on his property. His property burns down in a fire.
He claims that he has also sustained a financial loss because he is not able to rent the
property to his tenants. What can you tell him?
Give this one a try later!
He has coverage for loss of fair Rental Value
What type of contract exists when the insurance policy is valid even though there is
an unequal exchange?
Give this one a try later!
, Aleatory Contract
Failure to comply with terms or conditions of an insurance policy that may result in
restricted coverage or void the policy?
Give this one a try later!
Breach of contract
Millennium vessel company sustained damage to one of their vessels that was
transporting goods across the golf of Mexico. Which policy would they need in order
to get their damaged vessel repaired?
Give this one a try later!
They would need ocean Marine policy
Which of the following statements is true?
Give this one a try later!
Bullion/valuable papers is limited to $500 for all cause of loss
What is any intentional lying or misrepresentation by policyholders in order to inflate
a claims payment or receive a claims payment that would otherwise not be paid
