ALABAMA PROPERTY AND CASUALTY EXAM QUESTIONS AND ANSWERS 2025 A+ GRADED
4 views 1 purchase
Course
ALABAMA PROPERTY AND CASUALTY
Institution
ALABAMA PROPERTY AND CASUALTY
ALABAMA PROPERTY AND CASUALTY EXAM
QUESTIONS AND ANSWERS 2025 A+ GRADED If a company cancels an auto policy mid term, the refund will be made on
a. pro rata basis
b. short rate basis
c. retroactive basis
d. coinsurance basis - Answer Pro Rata Basis
What is the term used to describe terminati...
ALABAMA PROPERTY AND CASUALTY EXAM
QUESTIONS AND ANSWERS 2025 A+ GRADED
If a company cancels an auto policy mid term, the refund will be made on
a. pro rata basis
b. short rate basis
c. retroactive basis
d. coinsurance basis - Answer Pro Rata Basis
What is the term used to describe terminating the insurance relationship at the end of the policy
period ?
a. cancellation
b. nonrenewal
c. separation
d. exclusion - Answer Nonrenewal
Which is the best example of an indirect loss ?
a. sequential loss
b. liability loss
c. employee theft
d. loss of use - Answer Loss of Use
Which is a two party contract?
a. property
b. casualty
c. liability
d. auto - Answer Property
,Insurance Contracts offset
a. speculative risk
b. pure risk
c. gambling
d. created risk - Answer Pure Risk
Which of the following is a third party contract ?
a. property
b. casualty
c. earthquake
d. theft - Answer Casualty
Risk is best defined as
a. chance of loss
b. certainty of loss
c. financially loss
d. sentimental loss - Answer Chance of loss
Being subject to a loss is
a. liability
b. indemnityc .
c. exposure
d. subrogation - Answer Exposure
The ranking insured in a personal lines contract is the
, a. named insured
b. first named insured
c. mortgagee
d. husband - Answer Named Insured
To be paid under a P&C contract, insurable interest must exist
a. at the time of the application
b. on the policy date
c. at the time of the loss
d. at the time of claim settlement - Answer At the time of the loss
This type of company benefits the policyowners
a. stock
b. mutual
c. foreign
d. alien - Answer Mutual
Ohio Casualty is doing regular business in Indiana. Within the State of Indiana, Ohio Casualty
would be considered ?
a. domestic company
b. nonadmitted company
c. alien company
d. foreign company - Answer Foreign Company
Ohio Casualty is doing regular business in Indiana. Within the State of Indiana, Ohio Casualty
would be considered ?
a. admitted company
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Hosmerit. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.19. You're not tied to anything after your purchase.