Property & Casualty Tennessee State Licensing Exam Questions and Answers 100% Solved correctly
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Course
Property & Casualty Tennessee State Licensing
Institution
Property & Casualty Tennessee State Licensing
Personal Property Form - ️️is open perils coverage on personal property usually in
a home
Aleatory - ️️contingent on a certain event that provides for unequal transfer of value
between parties
Extra Expense Coverage - ️️provides coverage that will permit the insured to
continue bus...
Property & Casualty Tennessee State
Licensing Exam
Personal Property Form - ✔️✔️is open perils coverage on personal property usually in
a home
Aleatory - ✔️✔️contingent on a certain event that provides for unequal transfer of value
between parties
Extra Expense Coverage - ✔️✔️provides coverage that will permit the insured to
continue business without interruption following a property loss
Physical Hazard - ✔️✔️hazard that arises from the property itself
Morale Hazard - ✔️✔️person driving crazy because they have insurance
Moral Hazard - ✔️✔️create a loss situation to collect from insurance company
Contract of Adhesion - ✔️✔️one party has greater power over the other in the contract
Class 1-Frame - ✔️✔️outside support walls, roof and floors are made of wood or other
combustible materials
exterior is stucco or brick veneer
interior is lath and plaster
Class 2-Joist and Masonry - ✔️✔️outside support walls are made of non-combustible
materials and the roof and floor are made of combustible materials
Combustible Materials - ✔️✔️wood or other materials that easily catch fire
Noncombustible Materials - ✔️✔️are materials like concrete, stone, brick, or metal that
do not easily catch fire
Class 3-Noncombustible - ✔️✔️everything is constructed of and supported by
noncombustible materials
Class 4- Masonry Noncombustible - ✔️✔️exterior walls constructed of masonry and the
roof and floor are constructed of noncombustible materials
Class 5- Modified Fire Resistive - ✔️✔️everything is constructed of masonry or fire
material with a fire resistance rating of 2 hours or less
, Class 6- Fire Resistive - ✔️✔️everything is constructed of masonry or fire resistive
material rated of 2 hours or more
Personal Effects Form - ✔️✔️insures personal property while traveling
Personal Articles Form
(jewelry, furs, cameras, musical instruments, silverware, golf equipment, fine arts,
stamps, and coins) - ✔️✔️provides coverage for 9 optional classes of property
Symbol 30 - ✔️✔️symbol for customers autos left for service
Symbol 31 - ✔️✔️symbol for coverage for auto dealers
Symbol 48 - ✔️✔️symbol for trailers borrowed or leased by the insured
Symbol 49 - ✔️✔️symbol for trailers owned or hired by the insured
Discovery Form - ✔️✔️covers losses that are sustained at any time and discovered
during the policy period or within 60 days after the expiration date
Principal - ✔️✔️promises to do something
Surety - ✔️✔️party that agrees to be responsible for loss
Obligee - ✔️✔️party to whom the principal makes the promise
Name Schedule Bonds - ✔️✔️cover each employee on the policy schedule
Position Schedule Bonds - ✔️✔️list positions that are covered
Commercial Blanket Bonds - ✔️✔️covers dishonest employees acting separately or
together by position and the limit applies to each loss
Blanket Position Basis - ✔️✔️the bonds limit applies separately to each employee
involved in a loss
Part 1- Workers Compensation - ✔️✔️is the part of the workers comp section that
promises to pay all compensation and other benefits required of the insured
Part 2- Employers Liability - ✔️✔️is the part of the workers comp section that provides
coverage to the insured for sums the insured becomes legally liable
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