Insurance Exam Pt 2 Questions & Answers Latest
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Practice questions for this set
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Both A and B; the insured and the insurance company
Give this one a try later!
If a homeowners insured carries an amount of insurance on his home equal to at
1 least 80% of the replacement cost of the dwelling, then what is the rule of
indemnification that applies if the home is destroyed?
An insured's home is covered by the DP-3 form. The policy provides $20,000 in
coverage on a $50,000 home. When high winds destroy the roof, it is determined it
2
will cost the insured $2,000 to replace it. Assuming the actual cash value of the roof
is $750, how much would the insured collect for this loss?
In prior approval states, the rates and policy forms insurance companies use must
3
be approved by...
, The right to request an appraisal belongs to...
Don't know?
Terms in this set (25)
With the exception of Anywhere in the world for up to 10% of the
rowboats and canoes Coverage C amount.
and property belonging
to guests or servants, the
DP-1 form covers
personal property off
premises...
Which of the following is Hail damage to the roof of a car
an insurable risk?
The action which, in a Proximate cause
natural and continuous
sequence, produces a
loss is known as the ____.
Which of the elements of Consideration
a legal contract does an
insurance premium
payment represent?
A nonexclusive agent... Represents more than one insurance company.
A binder... None of the above
Which Dwelling forms DP-2 and DP-3
include the Glass Or
Safety Glazing Material
other coverage?
The tendency for people Adverse selection
with a greater-than-
average exposure to loss
to purchase insurance is
called...
Update A+ Passed
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Both A and B; the insured and the insurance company
Give this one a try later!
If a homeowners insured carries an amount of insurance on his home equal to at
1 least 80% of the replacement cost of the dwelling, then what is the rule of
indemnification that applies if the home is destroyed?
An insured's home is covered by the DP-3 form. The policy provides $20,000 in
coverage on a $50,000 home. When high winds destroy the roof, it is determined it
2
will cost the insured $2,000 to replace it. Assuming the actual cash value of the roof
is $750, how much would the insured collect for this loss?
In prior approval states, the rates and policy forms insurance companies use must
3
be approved by...
, The right to request an appraisal belongs to...
Don't know?
Terms in this set (25)
With the exception of Anywhere in the world for up to 10% of the
rowboats and canoes Coverage C amount.
and property belonging
to guests or servants, the
DP-1 form covers
personal property off
premises...
Which of the following is Hail damage to the roof of a car
an insurable risk?
The action which, in a Proximate cause
natural and continuous
sequence, produces a
loss is known as the ____.
Which of the elements of Consideration
a legal contract does an
insurance premium
payment represent?
A nonexclusive agent... Represents more than one insurance company.
A binder... None of the above
Which Dwelling forms DP-2 and DP-3
include the Glass Or
Safety Glazing Material
other coverage?
The tendency for people Adverse selection
with a greater-than-
average exposure to loss
to purchase insurance is
called...
