Blanket insurance - Study guides, Class notes & Summaries

NJ PSI Property and Casualty Exam with 100% Correct Answers 2023 The Mobile Home Endorsement of a Homeowners policy affords coverage to mobile homes under the? A. HO-1 (Basic Form) B. HO-2 (Broad Form) C. HO-3 (Special Form) D. HO-2 or HO-3 (Broad and Special) - Correct Answer-D. HO-2 or HO-3 (Broad and Special) All of the following are eligible for coverage under Homeowners policy except? A. A condominium unit owner. B. A farm owner. C. A mobile home owner. D. A tenant in an apartm...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

Specific insurance - Answer- This type of insurance designates a particular item to be insured Blanket insurance - Answer- This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - Answer- possibility of both gain and loss. Not insurable. Pure - Answer- only the possibility of loss. Insurable. What are the 5 methods of managing or handling risk? - Answer- avoid, control, retain, and transfer ri...

Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? -Uniform Provisions Law. -Freedom of Information Act. -Medical Information Bureau Disclosure Act -Fair Credit Reporting Act (Insurance Information and Privacy Protection Act) correct answers Fair Credit Reporting Act (Insurance Information and Privacy Protection Act) Group health insurance specifies that what percentage of eligible individua...

Specific insurance - ANSWER This type of insurance designates a particular item to be insured Blanket insurance - ANSWER This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - ANSWER possibility of both gain and loss. Not insurable. Pure - ANSWER only the possibility of loss. Insurable. What are the 5 methods of managing or handling risk? - ANSWER avoid, control, retain, and transfer risk. ...

AINS 103 Study Guide (Latest 2023/ 2024 Update) Exploring Commercial Insurance | Complete with Questions and Verified Answers| 100% Correct| Grade A Q: Marine insurance includes both ocean and inland marine coverage in the U.S. only Answer: TRUE Q: Disease thought to be caused by work or the work environment. Answer: Occupational disease Q: A description of the property insured would be located on the ________ _____ of a CPP Answer: Declarations page Q: ...

Champions Real Estate Finance graded A+ already passed 2023Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers ...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

Who does an insurance broker in North Carolina Represent - Insured Which of the following does Social Security NOT provide benefits for - dismemberment K completes an application for disability policy but does not pay the initial premium. The company approves the policy standard and the agent delivers the policy. K then pays her initial premium 3 days later. At what point does k's policy take effect. - Date the initial premium is collected What is the primary factor that determines the benef...