AL P&C University Of Alabama Question And Answers With Complete Solutions.
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AL P&C University Of Alabama
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AL P&C University Of Alabama
AL P&C University Of Alabama Question And Answers With Complete Solutions.
If aa aacompany acancels aan aauto apolicy amid-term, athe arefund awill abe amade aon aa a:
A. apro arata abasis
B. ashort arate abasis
C. aretroactive abasis
D. acoinsurance abasis a- a a a acorrect aanswer a:...
AL P&C University Of Alabama
Question And Answers With
Complete Solutions.
If aa aacompany acancels aan aauto apolicy amid-term, athe arefund awill abe amade aon aa a:
A. apro arata abasis
B. ashort arate abasis
C. aretroactive abasis
D. acoinsurance abasis a- a a a acorrect aanswer a: aA. aPro aRata aBasis
What ais athe aterm aused ato adescribe aterminating athe ainsurance arelationship aat athe aend aof
athe apolicy aperiod?
A. aCancellation
B. aNonrenewal
C. aSeparation
D. aExclusion a- a a a acorrect aanswer a: aB. aNonrenewal
Which ais athe abest aexample aof aan aindirect aloss?
A. aSequential aloss
B. aLiability aloss
C. aEmployee atheft
D. aLoss aof ause a- a a a acorrect aanswer a: aD. aLoss aof ause
Which ais aa atwo aparty acontract?
A. aProperty
B. aCasualty
C. aLiability
D. aAuto a- a a a acorrect aanswer a: aA. aProperty
Insurance acontracts aoffset
A. aspeculative arisk
B. apure arisk
C. agambling
D. acreated arisk a- a a a acorrect aanswer a: aB. aPure arisk
Which aof athe afollowing ais aa athird aparty acontract?
A. aProperty
B. aCasualty
C. aEarthquake
D. aTheft a- a a a acorrect aanswer a: aB. aCasualty
,Risk ais abest adefine aas
A. achance aof aloss
B. acertainty aof aloss
C. afinancial aloss
D. asentimental aloss a- a a a acorrect aanswer a: aA. achance aof aloss
Being asubject ato aa aloss ais
A. aliability
B. aindemnity
C. aexposure
D. asubrogation a- a a a acorrect aanswer a: aC. aexposure
The aranking ainsured ain aa aPersonal aLines acontract ais athe a
A. anamed ainsured
B. afirst anamed ainsured
C. amortgagee
D. ahusband a- a a a acorrect aanswer a: aA. anamed ainsured
To abe apaid aa aclaim aunder aa aP a& aC acontract, ainsurable ainterest amust aexist
A. aAt athe atime aof aapplication
B. aon athe apolicy adate
C. aat athe atime aof aloss
D. aat athe atime aof aclaim asettlement a- a a a acorrect aanswer a: aC. aat athe atime aof aloss
This atype aof acompany ais arun afor athe abenefit aof athe apolicyowners:
A. aStock
B. aMutual
C. aForeign
D. aAlien a- a a a acorrect aanswer a: aB. aMutual
Ohio aCasualty ais adoing aregular abusiness ain aIndiana. aWithin athe asame astate aof aIndiana,
aOhio aCasualty awould abe aconsidered aa(n)
A. adomestic acompany a
B. anonadmitted acompany
C. aalien acompany
D. aforeign aCompany a- a a a acorrect aanswer a: aD. aForeign
Ohio aCasualty ais adoing aregular abusiness ain aIndiana. aWithin athe astate aof aIndiana, aOhio
aCasualty awould abe aconsidered aa(an)
A. aadmitted acompany
B. adomestic acompany
C. aunauthorized acompany
D. arisk aretention agroup a- a a a acorrect aanswer a: aA. aadmitted acompany
A acompany achartered ain aGuam aor aPuerto aRico adoing aregular abusiness ain aNew aYork
awould abe aconsidered aby aNew aYorkers ato abe aa(n)
,A. adomestic acompnay
B. aforeign acompany
C. aalien acompany
D. ainternational acompany a- a a a acorrect aanswer a: aB. aforeign acompany
With aregard ato ainsurance, athe aterm aconsideration ameans
A. athe apremium aand athe astatements aon athe aapplication
B. athe ainsurer's amethod aof aevaluating athe aapplicant afor acoverage
C. athe ascreening aprocess aall aagents aundergo aprior ato alicensing. a
D. athe aside-by-side apolicy acomparison aby athe aapplicant a- a a a acorrect aanswer a: aA. athe
apremium aand athe astatements aon athe aapplication
Which aof athe afollowing aterms aindicates athat aan ainsurance acontract acontains athe alegal
aenforceable apromises aof aonly aone aparty?
A. aAdhesion
B. aUnilateral
C. aConditional a
D. aAleatory a- a a a acorrect aanswer a: aB. aUnilateral
In apurchasing aan ainsurance acontract, athe aapplicant amust aaccept athe acontract aas awritten.
aThis atype aof acontract ais areferred ato aas aa(n)
A. asettled acontract
B. aaleatory acontract
C. acontract aof aadhesion
D. apersonal acontract a- a a a acorrect aanswer a: aC. aContract aof aadhesion
Which aof athe afollowing aprinciples astates athat ain aforming aan ainsurance acontract, aboth
aparties ahave aa aresponsibility ato athe aorder? a
A. aDoctrine aof aWarranties
B. aDoctrine aof aRepresentations
C. aDoctrine aof aUtmost aGood aFaith
D. aDoctrine aof aReasonable aExpectations a- a a a acorrect aanswer a: aC. aDoctrine aof aUtmost
aGood aFaith
An aincorrect astatement amade aintentionally aon aa aPersonal aAuto ainsurance aapplication ais
aa a
A. aFraud
B. aWarranty
C. aMisrepresentation
D. aConceament a- a a a acorrect aanswer a: aC. aMisrepresentation
A abinder ais aa(n)
A. aInterim ainsuring aagreement
B. aApplication
C. aCounteroffer
, D. aEndorsement a- a a a acorrect aanswer a: aA. aInterim ainsuring aagreement
Which aof athe afollowing ais aNOT atrue aregarding aconsideration ain aa aP a& aC apolicy?
A. aPart aof athe ainsured's aconsideration ais athe apremium
B. aParts aof athe ainsured's aconsideration aare athe astatements aon athe aapplication
C. aParts aof athe acompany's aconsideration aare athe apromises ain athe apolicy
D. aPart aof athe acompany's aconsideration ais athe apayment aof aa aclaim a- a a a acorrect aanswer a:
aD. aPart aof athe acompany's aconsideration ais athe apayment aof aa aclaim
Any aambiguities ain aa aP a& aC apolicy awill abe aresolved ain afavor aof athe apolicyowner abecause
athe apolicy ais aa(n)
A. acontract aof aadhesion
B. aconditional acontract
C. aunilateral acontract
D. aAleatory acontract a- a a a acorrect aanswer a: aA. acontract aof aadhesion
A aperson awho ahas aresponsibility afor athe afinancial awellbeing aof aanother ais aa(n)
A. aaccountant
B. aattorney-in-fact
C. abroker
D. afiduciary a- a a a acorrect aanswer a: aD. afiduciary
A abinder acan aexpire aon aall aof athe afollowing aEXCEPT:
A. adate aof aapplication
B. aday acoverage agoes ainto aeffect
C. aday athe abinder aexpires
D. aday afollowing athe anotification athat athe abinder ahas abeen acancelled a- a a a acorrect aanswer
a: aA. aDate aof aapplication
Which ais aNOT atrue aregarding ahazards aand aperils?
A. aHazards acome ain athree agroups: aBasic, aBroad, aand aSpecial
B. aPerils aare aactive aand ahazards aare ainactive
C. aHazards acan abe aphysical, amoral, aand amorale
D. aPeril's acome ain athree agroups: aBasic, abroad, aand aspecial a- a a a acorrect aanswer a: aA.
aHazards acome ain athree agroups: aBasic, aBroad, aand aSpecial
A abox aof adynamite ais aa(n)
A. amoral ahazard
B. aphysical ahazard
C. amorale ahazard
D. aexcellent aaddition ato aa atoy acollection a- a a a acorrect aanswer a: aB. aPhysical ahazard
If ayou alook ato abe acovered aby aeverything awhich ais anot aexcluded, ayou ashould abuy
A. aspecial acause aof aloss
B. abasic acause aof aloss
C. abroad acause aof aloss
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