North Dakota Crop Insurance Exam with
Complete Solutions
Actual Cash Value Correct Ans-The cost to replace an item of property at the time of loss,
less an allowance for depreciation.
Is a temporary insurance contract that provides proof of coverage until permanent police is in
place.
In the crop-hail field, the application serves as a binder. When properly completed, dated,
signed and accompanied by the premium or a promissory note, the application serves as a
binder. Correct Ans-Binder
Replacement Cost minus Depreciation Correct Ans-Actual Cash Value (ACV)
A condition that creates or increases the probability of a loss Correct Ans-Hazzard
Hazards that increase the possibility of a loss such as flammable substances Correct Ans-
Physical Hazards
Dishonesty, Lack of Integrity Correct Ans-Moral Hazards
Careless attitude, indifference, failure to care Correct Ans-Morale Hazards
, The cause of possible loss. the event insured against Correct Ans-Peril
A loss that occurs at a specific time and place or over a period of time. such as fire or hail storm.
Correct Ans-Occurrence
The lack of reasonable care that is required to protect other from the unreasonable chance of
harm. Correct Ans-Negligence
The maximum amount of money the insurance company will pay for a particular loss, or for
losses sustained during a period of time. Also called limit of coverage, limit of insurance and
policy limit Correct Ans-Limits of Liability
Assignment of interest Correct Ans-You may not assign your interest in this policy without
our written consent
you may assign to another party your right to an indemnity for the crop year only on our form
and with our approval. the assignee with have the right to submit the loss notices and forms
required by the policy. Correct Ans-Assignment of Indemnity
Final Planting Date FPD Correct Ans-last day to plant unless insured for late planting
Last day to apply for coverage Correct Ans-Sales Closing Date SCD
Complete Solutions
Actual Cash Value Correct Ans-The cost to replace an item of property at the time of loss,
less an allowance for depreciation.
Is a temporary insurance contract that provides proof of coverage until permanent police is in
place.
In the crop-hail field, the application serves as a binder. When properly completed, dated,
signed and accompanied by the premium or a promissory note, the application serves as a
binder. Correct Ans-Binder
Replacement Cost minus Depreciation Correct Ans-Actual Cash Value (ACV)
A condition that creates or increases the probability of a loss Correct Ans-Hazzard
Hazards that increase the possibility of a loss such as flammable substances Correct Ans-
Physical Hazards
Dishonesty, Lack of Integrity Correct Ans-Moral Hazards
Careless attitude, indifference, failure to care Correct Ans-Morale Hazards
, The cause of possible loss. the event insured against Correct Ans-Peril
A loss that occurs at a specific time and place or over a period of time. such as fire or hail storm.
Correct Ans-Occurrence
The lack of reasonable care that is required to protect other from the unreasonable chance of
harm. Correct Ans-Negligence
The maximum amount of money the insurance company will pay for a particular loss, or for
losses sustained during a period of time. Also called limit of coverage, limit of insurance and
policy limit Correct Ans-Limits of Liability
Assignment of interest Correct Ans-You may not assign your interest in this policy without
our written consent
you may assign to another party your right to an indemnity for the crop year only on our form
and with our approval. the assignee with have the right to submit the loss notices and forms
required by the policy. Correct Ans-Assignment of Indemnity
Final Planting Date FPD Correct Ans-last day to plant unless insured for late planting
Last day to apply for coverage Correct Ans-Sales Closing Date SCD
