Arkansas property - Study guides, Class notes & Summaries

Arkansas Property and Casualty Insurance Exam Question and answers 100% correct 2024 Customer's property whether or not the insured has been negligent An unique feature in a bailee form is that it covers intentional tort Which of the following would NOT be covered by HO liability insurance? 6 Ways to Show Appreciation for Your Child's Teacher Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:37 / 0:54 Full screen 30 days The mail coverage form is ...

True/False: The Arkansas Auctioneers Licensing Board is appointed by vote of the Arkansas General Assembly Correct Answer False - The governor shall appoint the members of the Board All auctioneer licenses expire: Correct Answer June 30th True/False: The Arkansas Auctioneers Licensing Board has the final decision in the suspension or revocation of an auctioneer's license. Correct Answer False - The Auctioneers License Act indicates the "Board shall be subject to the Arkansas Administrati...

Arkansas Property and CasualtyPure Risk PART 1 - correct answer Loss only no financial gain, insurable Speculative Risk - correct answer A chance of loss, no loss, or gain. Ex: Gambling Hazard - correct answer Something that increases the chance of loss Physical Hazard - correct answer individual characteristics that increases the frequency or severity of loss EX. Smoking Moral Hazard - correct answer Individuals moral or ethical code. EX. Lying on the application Morale Hazard -...

Arkansas Property & Casualty Questions with complete solution 2024Accident - correct answer A sudden & unexpected event which occurs at a specific time & place. In easy-to-read policies, also includes loss which occurs over a period of time. Actual Cash Value (ACV) - correct answer The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimbursement for a loss. Additional Living Expense - correct answer A Coverage ...

Arkansas Property and Casualty License ExamThe National Association of Insurance Commissioners (NAIC) - correct answer Consists of all State and territorial insurance commissioners or regulators. The NAIC provides resources, research, legislative and regulatory recommendations and interpretations for state insurance regulators. The NAIC has no legal authority to enact or enforce insurance laws. The Federal Insurance Office (FIO) - correct answer This office monitors the insurance industry ...

Arkansas Property and Casualty Exam Question and answers correctly solved 2024Personal Auto Policy - correct answer Part A: Liability Coverage Part B: Medical Payments Coverage Part C: Uninsured Motorists Coverage Part D: Coverage for Damage to Your Auto Part E: Duties After an Accident or Loss Part F: General Provisions You and Your - correct answer The named insured listed in the declarations, and the spouse if a resident of the same household. The named insured should always be the pe...

Arkansas Property & Casualty Practice ExamPay the claims covered under the policy. - correct answer A primary obligation of an insurance company is to: Accumulating Risk - correct answer Which of the following is not a reaction to risk? An increase in the possibility that a loss may occur. - correct answer Which of the following describes a hazard? Requiring the policyholder to carry insurance to value. - correct answer Which of the following best meets the test of the "Principle of In...

Arkansas Property and Casualty Insurance Exam Before workers comp laws, employers had 3 common law defenses to avoid paying claims- - correct answer Assumption of Risk - This defense placed all the risk on the employee as being responsible for knowing the work conditions prior to employment. Fellow Servant Rule - Removed the employer's negligence if a fellow employee contributed in any way to the loss. Contributory Negligence - Used to argue that the employee was partially at fault and...

Arkansas Property and Casualty Exam Questions and Answers

Arkansas Property & Casualty Terms Answered Correctly!!