Auto insurance - Study guides, Class notes & Summaries

Explain the economic laws of Supply and Demand, and explain why these laws do not strictly apply to automobile insurance. - pages 3-3 and 3-13. the economic theory of supply and demand proposes that more resources will be allocated to a product that increases revenue. The law of supply provides that the higher the price, then more will be supplied. the law of demand provides that, with all other factors equal, less will be demanded as the price rises. For the insurance market, supply is rep...

What is an eligible building for flood insurance?: A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage?: Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A?: No, HO-4 (Renters person- al property) What is casual labor in workers' compen...

1. Identify the two distinct legal systems used in Canada. - Quebec Civil Code and Common Law 2. Why is common law also called "judge-made law"? - Common Law is based on precedent, on decisions made by judges in previous similar cases. 3. What is the Civil Code of Quebec? - General law that contains all of the basic provisions that govern life in society, namely relationships among citizens and the relationships between people and property. 4. Give an example of a law that has been enact...

NYS Property and Casualty - Auto Insurance test with complete solution

Test Bank for Principles of Risk Management and Insurance 14e 14th Edition by George E. Rejda, Michael J. McNamara. ISBN-13: 1293 Full Chapters test bank included PART 1: BASIC CONCEPTS IN RISK MANAGEMENT AND INSURANCE 1. Risk and Its Treatment 2. Insurance and Risk 3. Introduction to Risk Management 4. Enterprise Risk Management and Related Topics PART 2: THE PRIVATE INSURANCE INDUSTRY 5. Types of Insurers and Marketing Systems 6. Insurance Company Operations 7. Financial Op...

Pearson VUE: Casualty Insurance Practice Exam Questions And Correct Answers An insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone C In insurance, which of the following terms refers to continuous or repeated exposure to conditions that may result in bodily injury...

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 Aftermarket parts...

AAMS Practice Exam - Questions and Answers An employer plans to use corporate-owned life insurance to informally fund a nonqualified deferred compensation agreement and wants flexibility regarding investment choices. Which one of the following types of life insurance should this employer choose? Variable life insurance The latest economic reports have been gloomy, and the stock market is in a protracted slump. Most of your regular stock customers are selling out their positions. A new client, ...

Complete Solutions Manual for Personal Finance, 6th Canadian Edition by Jeff Madura, Hardeep Singh Gill ; ISBN13: 9780138254834.....(Full Chapters included and organized in reverse order from Chapter 16 to 1)...1.Overview of a Financial Plan 2.Applying Time Value Concepts 3.Planning with Personal Financial Statements 4.Using Tax Concepts for Planning 5.Banking Services and Managing Your Money 6.Assessing, Managing, and Securing Your Credit 7.Purchasing and Financing a Home 8.Auto and Home...

Lessor correct answers a person granting a lease of a motor vehicle Livery correct answers transporting of people or things for hire (e.g., taxi service) Mutually Exclusive correct answers when something cannot occur simultaneously with something else Private Passenger Vehicle correct answers an automobile used for private needs rather than for business uses Personal Auto Policy (PAP) correct answers an insurance policy for the owners of private passenger vehicles -the policy combin...