Standard fire policy - Study guides, Class notes & Summaries

Standard Fire Policy correct answers- the policy written for both Personal Lines (residential home or dwelling) or as Commercial Lines (official building) are the same! - fire insurance is another name for property insurance - can insure the building structure and/or the personal property. - not a HO policy since it does not cover theft of content and does not have liability coverage - never sold w/o adding Endorsement to the policy. (Endorsement is a form added to a policy that changes the...

STANDARD FIRE POLICY (SPF) - ANSWER -introduced in NY in 1873 as first standardized Property insurance policy -NC adopted in 1943 -basis for non-marine Property contract in NC and is attached to all Commercial Prop. insurance contracts SFP Covered Perils - ANSWER -originally written as 165 monoline "Named Perils" policy. Covered 3 perils: Fire, Lightning, and Removal SFP Covered Peril FIRE - ANSWER intense combustion resulting in a flame or glow. Must be an unfriendly, hostile fire...

Texas all lines adjuster exam 378 Questions with 100% Correct Answers LATEST UPDATES 2023 All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: - correct answers-While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implie...

The term "you" is used throughout the Commercial General Liability Coverage Form. "You" is defined to include: - ️️The named insured shown in the declarations. Smart Endeavors, a retail clothing store, hired ABC Contractors to install a new air conditioning system in one of its stores. ABC misrouted some wires during the installation process, which caused the wires to overheat and caused a fire. The air conditioning unit had to be rewired, which cost $1,000. Smart Endeavors' building...

Texas All Lines Adjuster Exam Questions And Answers Graded A+ All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: Correct Answer: While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implied warranties of an Ocean Ma...

1. Standard Fire Policy: - the policy written for both Personal Lines (residential home or dwelling) or as Commercial Lines (official building) are the same! - fire insurance is another name for property insurance - can insure the building structure and/or the personal property. - not a HO policy since it does not cover theft of content and does not have liability coverage - never sold w/o adding Endorsement to the policy. (Endorsement is a form added to a policy that changes the policy's p...

What is a peril? - Answer A Peril is a cause of loss What is a hazard? - Answer Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Answer Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Answer Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire considered? - Answer A Peril What are the ele...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...

State Farm License Standard Fire Policy Questions and Answers 2023 (Verified Answers)

Texas All Lines Adjuster Exam 2023 Questions and Answers (Graded A)Texas All Lines Adjuster Exam 2023 Questions and Answers (Graded A)Texas All Lines Adjuster Exam 2023 Questions and Answers (Graded A) All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: - ANSWER-While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employe...