C12 Insurance on Property- Midterm Questions And Answers

C12 Insurance on Property- Midterm
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Questions And Answers |\ |\




Prestation is defined as - CORRECT ANSWERS ✔✔A duty, a
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payment of money or service |\ |\ |\ |\




A peril is - CORRECT ANSWERS ✔✔The event that caused a loss
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covered by the policy |\ |\ |\




The definition of riot is - CORRECT ANSWERS ✔✔An Act or threat
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of violence by one or more persons who are part of an assembly
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or three or more persons.
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An event that might give rise to damage to property or injury to
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persons.


Fluvial flooding is - CORRECT ANSWERS ✔✔caused by the
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overflow of a river |\ |\ |\




A Chattel mortgage is - CORRECT ANSWERS ✔✔a mortgage on a
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moveable item of property |\ |\ |\




The mortgage clause - CORRECT ANSWERS ✔✔A property
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insurance provision granting special protection for the interest of
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a mortgagee
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,A domestic water container will encompass - CORRECT ANSWERS
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✔✔outdoor private swimming pools or wading pools
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Ground water - CORRECT ANSWERS ✔✔is water found in the
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cracks and spaces in the soil sand and rock beneath the ground
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Fungi is - CORRECT ANSWERS ✔✔identified in the comprehensive
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and broad forms because they are all firks forms and therefore
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the term must be described, so that is can be excluded
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A residence employee is - CORRECT ANSWERS ✔✔a neighbor that
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you pay to do housework for you once a month. Someone who is
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looking after your elderly mother while you are working during
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the day. A full time cook, who prepares breakfast and lunch for
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your children and evening dinner for the whole family.
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In the basic fire policy, for how many days does the removal of
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insured property extension apply to removal of insured property
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from an insured location? - CORRECT ANSWERS ✔✔7 days or until
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the policy expires
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Property insurance is considered - CORRECT ANSWERS ✔✔First-
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party insurance |\




Once the insured has completed the proof of loss, the insurer is
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required to respond to it and make payment within - CORRECT
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ANSWERS ✔✔60 days |\ |\

, Statutory condition 13, Replacement, states that the insurer must
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begin repairing, replacing or rebuilding the damaged property
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within - CORRECT ANSWERS ✔✔45 days from its receipt of the
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proof of loss |\ |\




The Freedom of Information and Protection of Privacy Act
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(FOIPPA) applies to all provinces except - CORRECT ANSWERS
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✔✔Quebec and the territories |\ |\ |\




Falling objects refers to an object - CORRECT ANSWERS
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✔✔Striking the exterior roof or walls of the building |\ |\ |\ |\ |\ |\ |\ |\




How long is the average lifespan of a domestic hot-water heater?
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- CORRECT ANSWERS ✔✔10-20 years
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Which of the following insurance policies covers two or more
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lines or types of insurance - CORRECT ANSWERS ✔✔Package
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policy


What type of mortgage conveys an interest in property other
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than land and buildings as security for a debt? - CORRECT
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ANSWERS ✔✔Chattel mortgage |\ |\




The mortgagee is required to notify the insurer immediately on
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learning of any vacancy or non-occupancy extending beyond -
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CORRECT ANSWERS ✔✔30 days |\ |\ |\