Alabama Insurance: Property and Casualty Test Questions with 100% Correct Answers
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Course
Alabama Insurance
Institution
Alabama Insurance
Alabama Insurance: Property and Casualty
Test Questions with 100% Correct Answers
An incorporated insurance company which is run by a board of directors
is known as - Answer️️ -a capital-stock company
Which of the following statements is true regarding a binder?
a. a binder guarantees that...
Contracts written for a specified amount as agreed to by both the insured
and insurer at policy inception are known as - Answer✔️✔️-valued or stated
value contracts
All of the following must be present to establish negligence except
a. duty owed and breach of that duty
b. a proximate cause of loss
c. damages must exist
d. hazardous operations are involved - Answer✔️✔️-d
The clause of an insurance contract that provides for equitable handling of
loss settlement disputes is the - Answer✔️✔️-appraisal or arbitration clause
The portion of the premium due the insurance company for coverage
afforded under the insurance contract is the - Answer✔️✔️-earned premium
Coverage C under the dwelling policy
a. will pay for losses to a detached garage
b. will provide worldwide coverage up to 10% of the coverage C amount
c. pays up to 10% of the Coverage A limit for loss of rental value
d. pays for the expense of removing debris resulting from a covered
property loss - Answer✔️✔️-b
The coverage provided only by the DP-2 and DP-3 dwelling fire forms is -
Answer✔️✔️-additional living expense
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