ALABAMA PROPERTY AND CASUALTY EXAM
REVIEW BUNDLED QUESTIONS WITH VERIFIED
A+ ANSWERS COMPLETE RESOURCE
◉Insurance Binders . Answer: Interim insurance agreements
◉Indirect Loss . Answer: A consequential loss
◉Warranties . Answer: represent the absolute truth
◉Concealment . Answer: Knowingly withholding material information
on an application.
◉Stock . Answer: Insurance company which is designed to pay
dividends to policyowners
◉Domestic . Answer: A company domiciled in the state
◉Insuring Agreement . Answer: An insurance company's promise to pay
a loss
, ◉Conditions . Answer: Rules which govern the actions of the company
and the policyowner within an insurance contract
◉Binder . Answer: A short term proof of insurance coverage provided to
an insured until a policy can be delivered.
◉Risk . Answer: Uncertainty of loss
◉Property policies provide coverage only if there is insurable interest
when? . Answer: at the time of loss
◉Accident . Answer: an unforeseen and unintended event that happened
at a known time in a known place.
◉A fire at Smith's house which spread from Brown's house is what kind
of loss? . Answer: Direct Loss
◉A family that regularly leaves their house unlocked would be
considered a what? . Answer: Morale hazard
◉In insurance, consideration is best defined as what? . Answer:
Something of value
REVIEW BUNDLED QUESTIONS WITH VERIFIED
A+ ANSWERS COMPLETE RESOURCE
◉Insurance Binders . Answer: Interim insurance agreements
◉Indirect Loss . Answer: A consequential loss
◉Warranties . Answer: represent the absolute truth
◉Concealment . Answer: Knowingly withholding material information
on an application.
◉Stock . Answer: Insurance company which is designed to pay
dividends to policyowners
◉Domestic . Answer: A company domiciled in the state
◉Insuring Agreement . Answer: An insurance company's promise to pay
a loss
, ◉Conditions . Answer: Rules which govern the actions of the company
and the policyowner within an insurance contract
◉Binder . Answer: A short term proof of insurance coverage provided to
an insured until a policy can be delivered.
◉Risk . Answer: Uncertainty of loss
◉Property policies provide coverage only if there is insurable interest
when? . Answer: at the time of loss
◉Accident . Answer: an unforeseen and unintended event that happened
at a known time in a known place.
◉A fire at Smith's house which spread from Brown's house is what kind
of loss? . Answer: Direct Loss
◉A family that regularly leaves their house unlocked would be
considered a what? . Answer: Morale hazard
◉In insurance, consideration is best defined as what? . Answer:
Something of value
