Alabama Property and Casualty Sample Quiz 1-100 Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Alabama Property and Casualty Sample
Institution
Alabama Property And Casualty Sample
transfer risk from a person or business to an insurance company that agrees to to pay for losses in
exchange for a premium. - insurance
In the Business Auto coverage form, employers tht want to cover employees use of their own cars in the
employers business should opt to have Liability coverage ...
Alabama Property and Casualty Sample
Quiz 1-100
transfer risk from a person or business to an insurance company that agrees to to pay for losses in
exchange for a premium. - insurance
In the Business Auto coverage form, employers tht want to cover employees use of their own cars in the
employers business should opt to have Liability coverage apply to which of the following groups of
autos? - Nonowned
An insured purchased new furniture for $6000. At the time of a fire los, it had depreciated $2000. The
same furniture will cost $7000 to replace. What is the actual cash value of the destroyed furniture? -
5000
A basic Dwelling policy automatically provides coverage against fire, lightning and - internal
explosion
a fire that was caused by the insureds negligence burns a neighbors building, the owner of the building
sues the insured. - Which of the following is a liability loss?
According to the cancellation condition in the Common Policy Conditions form, if the insurance company
is cancelling a Commercial Package policy for nonpayment of premium, the insured must be given at
least ______________ days' notice of cancellation. - 10
According to the Nationwide Definition, imports and exports are - eligible for Ocean Marine
insurance
Agent Michelle is under contract with the XYZ Insurance Company to represent and sell insurance only
for XYZ. This is an example of what type of agency system? - Exclusive/captive
All of the following reduce the general aggregate limit in the CGL Except the
a. medical expense limit
, b. personal and advertising injury limit
c. per occurrence limit
d. products-completed operations limit - d
An additional loss that results from a direct loss to property is called a/an - indirect/consequential
loss
An agent who needs Liability coverage for his or her professional liability exposure can obtain it by
purchasing - errors and omissions insurance.
An individual who owns and lives in a condominium can obtain broad coverage for personal property in
the condo under which Homeowners form? - HO-6
An insurance policy is prepared by the insurance company, with little or no input from the insured. This
means that an insurance policy is a/an... - adhesion contract
An insured who needs coverage for medical instruments while they are on and off the premises could
obtain it by purchasing the - physicians and surgeons equipment coverage form
appraisal condition - The condition that provides a means to settle the amount of a loss when the
insured and the insurance company cannot agree is the
Assume the following items were stolen from the insured's home. Which one of these losses would be
fully covered under Coverage C of the Homeowners policy, assuming the loss was for the full value of the
property described?
a. An antique gun valued at 5k
b. A 2k laptop computer the insured uses for her in home accounting business.
c. a 3k mink stole
d. a 2k ruby and diamond ring - b
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