Property and Casualty Insurance Study guides, Class notes & Summaries

Property Practice Exam Questions and Answers 100% Pass Which of the following helps protect insurance companies from catastrophic losses and from wild fluctuations in underwriting results? - Correct Answer ️️ -Reinsurance Which of the following standards is an agent violating by providing insurance to an insured at a lower or higher premium than another insured in identical circumstances? - Correct Answer ️️ -Unfair discrimination All of the following are elements of a valid contr...

Property Insurance Practice Exam Questions and Answers 100% Pass One of the following policies covers Mobile Homes: a. Dp-1 b. Dp-2 c. Dp-3 d. Ho-4 - Correct Answer ️️ -a. Dp-1 On a dwelling policy, personal property would be covered at: a. ACV b. Replacement Cost c. Not covered d. 80% of Value - Correct Answer ️️ -a. ACV DP-1 would cover all of the following without endorsement except: a. other structures b. personal property c. rental value d. additional living expense ...

INSURANCE - PRACTICE EXAM QUESTIONS AND ANSWERS 100% PASS at least how many hours of prelicensing education must be completed by an applicant for an insurance producer license? - Correct Answer ️️ -20 which of the following does an appointed insurance producer represent in an insurance transaction? - Correct Answer ️️ -insurer for the purposes of conducting an investigation, the Tennessee commissioner of insurance has all of the following powers EXCEPT: - Correct Answer ️️ -th...

Casualty Insurance Exam Questions and Answers 100% Pass Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as - Correct Answer ️️ -Coverage under the claims-made form According to the other insurance condition, which of the following are methods used to decide how the claim will be divided? - Correct Answer ️️ -Contribution by equal shares or contribution with limits Which of the following limits of liabil...

Illinois Casualty Insurance Exam Review 2024 Questions and Answers 100% Pass Premium - Correct Answer ️️ -money paid by the insured to the insurance company in exchange for the insurance policy Lapse - Correct Answer ️️ -when a policy is terminated due to non-payment of premiums First Party Claimant - Correct Answer ️️ -is an insured making a claim under their own policy for damage to their insured property Third Party Claimant - Correct Answer ️️ -is a person or organiza...

pearson vue practice exam questions and answers 100% pass 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 In an application for marine insurance, a yacht owner states that the yacht will only be sailed on inland waters. If the insured...

PearsonVue Practice Exam 1 Questions and Answers 100% Pass Which of the following persons may assign a Standard Fire Policy? - Correct Answer ️️ -A Claims Adjuster Under the standard flood insurance policy, all of the following loss avoidance measures are covered up to $1,000 when damage to the insured property due to flooding is imminent EXCEPT: - Correct Answer ️️ -The value of work, at the federal minimum wage, that a member of the household performs The Insurance Commissioner...

NC casualty exam advantage practice test 100% Correct Solved Which of the following is an example of redlining? Select one: a. YLR Insurance charges people in Metropolis an $800 premium for life insurance if they live in homes valued at $150,000, but $1,800 for people who live in homes less than that amount. b. Agent Francesco gives a cell phone to anyone who buys a life insurance policy from him. c. An insurer decides not to offer term insurance to any of its customers. d. An admitted...

Exam Fx (PROPERTY & CASUALTY) Questions and Answers 100% Pass Law of Large Numbers - Correct Answer ️️ -The larger the number of people with a similar exposure to loss, the more predictable actual losses will be. Insurance - Correct Answer ️️ -Transfers the risk of loss from an individual or business entity to an insurance company The three elements of insurable risk are - Correct Answer ️️ -1) Financial 2) Blood (relative) 3) Business Risk - Correct Answer ️️ -The uncert...