Yacht Samenvattingen, Aantekeningen en Examens

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 RATED A+ Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. For a loss that would otherwise be covered for th...

Texas all lines adjuster exam QUESTIONS AND CORRECT DETAILED ANSWERS ( VERIFIED ANSWERS) |ALREADY GRADED A+ 2023 Private, unincorporated mutual insurers that consist of associations that agree to equally share risks among its members are known as: - CORRECT ANSWER Reciprocal exchanges. Under Coverage F - Medical Payments in Section II of the standard Homeowners policies, medical expenses for the injured party will be paid as long as the claim is submitted: - CORRECT ANSWER Wit...

Which of the following sections of an insurance policy would explain the term "auto" ? A.Declarations A. Declarations B.Definitions B. Definitions C.Insuring agreement C. Insuring agreement D.Obligations of the insurance company D. Obligations of the insurance company - ️️B In an application for marine insurance, a yacht owner states that the yacht will only be sailed on inland waters. If the insured subsequently sails the yacht on the seas, coverage may be denied because th...

Which of the following describes the Lay Up Warranty under the Yacht Policy? A It is an additional coverage that applies when the yacht is being repaired or serviced B It is a limitation of coverage on the yacht that applies when the yacht is outside its navigational limits C It applies when the insured yacht is in storage and allows a return of premium due to the lower risk D It states that coverage is suspended while the yacht is laid up C It applies when the insured yacht is in stor...

If a broker's branch office is 75 miles from his main office, the person managing this branch office must: Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? The ownership of the property never transfers. Brainpower Read More 0:05 / 0:15 Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called: Littoral rights Which of the followi...

Robbery - -contains an element of force that Theft does not -force or threat of force is used to take property from person or presence of person *When you read the scenario think about whether or not the victim thought harm would come to him if he did not give up the property. If they did, then Robbery is the better charge* If the victim perceives because of the offender's words or actions, at the time of the robbery, that the offender has a dangerous weapon, but the offender does not in ...

Economic loss that is the consequence of a direct loss is known as: - correct answer An indirect loss. An insured has a $1,000 insurance claim and is able to prove his loss and its value. The insurer's adjuster offers $500, knowing that the claimant would probably take the offer to avoid incurring the cost of an attorney to sue for the actual amount of the claim. The offer made by the adjuster is considered - correct answer To be an unfair claims settlement practice. What is generally ex...

Which of the following sections of an insurance policy would explain the term "auto" ? A.Declarations A. Declarations B.Definitions B. Definitions C.Insuring agreement C. Insuring agreement D.Obligations of the insurance company D. Obligations of the insurance company Correct Answer: B 2 In an application for marine insurance, a yacht owner states that the yacht will only be sailed on inland waters. If the insured subsequently sails the yacht on the seas, coverage may be den...

Which of the following phrases BEST defines a hazard? A. The uncertainty of a loss B. The cause of a loss C. An unexpected loss D. A condition that increases the chance of a loss D A family takes their 50-horsepower outboard motor boat to the lake on a trailer towed behind their personal auto. The pleasure boat is appropriately covered for physical damage under which of the following policies? A. Dwelling B. Homeowners C. Boat owners D. Yacht C Which of the following perils is covere...