Exam (elaborations)
Personal Lines Exam Questions And 100% Correct Answers
- Course
- Institution
Personal Lines Exam Questions And 100% Correct Answers...
[Show more]
Content preview
Personal Lines Exam Questions And 100%Correct Answers
Foreign - Answer If an insurer is incorporated in Rhode Island, but its principal place of
business is New York, what kind of insurer would it be, with respect to New York?
A contract between the insurer and the reinsurer - Answer Policyholder A's insurer is
writing too many homes that are subject to wind losses. Because of this, the company
wishes to reinsure those policies in order to spread the high risk of wind loss. The
reinsurance contract can best be described as which of the following?
Stockholders - Answer Dividends issued by Stock insurers are paid to:
The policy is an adhesion contract - Answer When an insurance policy is ambiguous, the
court will generally find in favor of the insured due to which of the following
characteristic?
Retention of risk - Answer Self-insurance is an example of which of the following type of
risk management?
Peril - Answer A potential cause of a loss, such as fire, explosion, flood, or theft is
considered to be a(n):
A contract of indemnity - Answer An insurance contract is considered which type of
contract because it restores the insured to the same financial condition as before the
loss?
Admitted - Answer An insurer that is authorized to do business in a particular state is
said to be:
, Enhancement - Answer Is not a risk management technique
Warranty - Answer A statement indicating the liability of the manufacturer for product
deficiencies.
Pure risk - Answer The uncertainty of loss from fire, wind or hail is a type of:
Aleatory - Answer Is a type of contract that is defined as an unequal exchange in value.
Misrepresentation - Answer When applying for car insurance, Producer M asked B if he
had been convicted of a DWI within the previous 10 years. B answered "no" when, in
fact he was convicted of a DWI last year. What is B's mistake?
Foreign Company - Answer Ohio Casualty is doing regular business in Indiana. Within
the state of Indiana, Ohio Casualty would be considered a(an):
If an individual is denied coverage, they can request a copy of the report. - Answer
Under the Fair Credit Reporting Act, what is true?
Additional Coverages part of an insurance policy-provides protection in addition to the
basic coverages in the insuring agreement automatically included without an additional
premium.
60 days and 30 days respectively for Personal lines and Commercial lines - Answer
What is the 'Loss Payment' condition in respect of the period an insurer has to pay for a
loss once the proof of loss has been received and the loss has been agreed with the
insured?
What would be deemed as a hostile fire? - Answer An uncontrolled campfire in the
woods
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 Easton. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now