CASUALTY INSURANCE Exam Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

PROPERTY AND CASUALTY INSURANCE EXAM – GEORGIA EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ BPP building coverage Correct Answer: insures the building at the described location, outdoor, fixtures, furnitures, items used to service the property, permanently...

What is a peril? Correct Answer: A Peril is a cause of loss What is a hazard? Correct Answer: Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? Correct Answer: Moral Hazard - dishonesty, against the law Morale Hazard - carelessness...

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 ...

Which of the following describes insurable interest and indemnity? Correct Answer: Being in the position where you can stand to lose money should damage occur. All of the following are covered by a personal auto policy except? Correct Answer: Injuries sustained by the insured's employee while ...

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 ...

n insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone Correct Answer: C In ...

An insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone Correct Answer: C In...

What is a peril? Correct Answer: A Peril is a cause of loss What is a hazard? Correct Answer: Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? Correct Answer: Moral Hazard - dishonesty, against the law Morale Hazard - carelessness...

Insurance Correct Answer: The transfer of risk through a legal contract Property Correct Answer: Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty Correct Answer: covers non-property losses (3rd Party) Personal line...

Which of the following are the authorities that an agent can hold? Correct Answer: Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? Correct Answer: Permanent partial disability Who is NOT considered an employee in an comme...