What is peril - Study guides, Class notes & Summaries

ACA Final Exam Questions and Answers 2023 At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters Set rates and write policies ...

PA Motor Vehicle Physical Damage Appraiser - Practice Exam 100+ questions correctly answered & verified True or False: Each appraiser, while engaged in appraisal duties, must carry his/her appraiser's license & display it to an owner of the vehicle or shop upon request: - ANSWER true What are the number of business days you have per Act 361 to inspect vehicle? - ANSWER 6 How many days after an inspection should a total loss be offered to the owner? - ANSWER 5 A...

1. Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements?: Insurable Interest Utmost Good Faith Indemnity 2. Explain the meaning and disadvantage of the following approaches: Avoid- ance of Risk & Control of Risk: Avoidance: Avoidance means that...

Alabama AdjusterPro Exam for P&C with WC and Crop (2023) Alabama AdjusterPro Exam for P&C with WC and Crop (2023) 1: Incorrect Indemnification may include all of the following except: reimbursement for hotel costs. reimbursement for rental car costs. Answer Given payment for repairs to property. Actual Answer payment for pain and suffering. 2: Correct What is a reserve, in insurance terms? The amount of revenue that the insurer sets aside to pay employee s...

Insurance Adjuster Exam Questions and Answers Rated A+ Which kind of losses are covered under a standard fire policy? Direct All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the insur...

Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss - ANSWERSConsequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center pillar The trunk floor The quarter panels The frame rails - ANSWERSThe frame rail...

Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome Pure Risk - Answer- a chance of loss or no loss, but no...

Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss Consequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center pillar The trunk floor The quarter panels The frame rails The frame rails In auto p...

2022/2023 Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS 1. PERILS: A CAUSE OF PROPERTY LOSSES UNDER AN INSURANCE CON- TRACT EX: WINDSTORM, HURRICANE, EXPLOSION, COLLAPSE OF BUILD- ING, VANDALISM, ACCIDENTAL DISCHARGE, AND THEFT 2. LAW OF LARGE NUMBERS: A FUNDAMENTAL CONCEPT IN STATISTICS AND PROBABILITY THAT DESCRIBES HOW THE AVERAGE OF A RANDOM- LY SELECTED LARGE SAMPLE FROM A POPULATION. IT BASICALLY RE- LIES ON THE PRINCIPLE THAT THE LARGER THE POOL, THE MORE PRE- DICTAB...

Virginia Property and Casualty Exam Prep (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: What is mysterious disappearance? Answer: Misplacement or loss of property without knowledge as to the location, time and cause of the loss Q: What are additional coverages available in Homeowners policies without additional premiums? Answer: Debris removal, lawns/plants/shrubs, and trees,removal, reasonable repairs, and fire department serv...