Casualty auto insurance Study guides, Class notes & Summaries

Michigan P & C Insurance Exam Test Question and answers already passed 2023/2024 Termination of Insurance for auto and home must be sent to last know address no later than - correct answer 30 days before cancellation Termination of casualty insurance cannot take place until- from the mailing date - correct answer 10 days PIP in auto insurance covers individual care from a family member for - correct answer a limit of $20 a day for three years limited collision - correct answer shall pa...

Symbol 7 in a Business Auto policy refers to: - ANSWER Specifically described auto An individual who has Liability, Uninsured Motorist, Medical Payment and Other than Collision, falls asleep at the wheel and crashes into a flower shop. Damage to the shop would be covered by which of the following? - ANSWER liability Personal Auto Policy (PAP) coverage excludes which territory: - ANSWER Mexico Which of the following is not a coverage option with Garagekeepers Coverage? Standard Average...

Xcel Solutions Property & Casualty Exam Questions and Answers An earned premium resulting from the cancellation of a policy is calculated on: - Correct Answer ️️ -On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: - Correct Answer ️️ -Excess Direct Coverage An insurance company writing business in a state o...

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...

Pearson VUE: Casualty Insurance Practice Exam 2024/2025 already graded A+

Utah Financial Responsibility of Motor Vehicle Owners and Operations Act correct answers 1. Requires operators of vehicles to carry proof of insurance coverage. 2. Designed to protect the public from losses resulting from a motor vehicle accident. 3. A driver who doesn't carry these requirements may lose their license, registration, plates, and a fine up to $1,000. 4. Proof of requirements must be located in the vehicle at all times. Utah Automobile Insurance Plan correct answers 1. Provi...

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...

New York State Property and Casualty Licensing Exam Questions and Answers Graded A+ Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. pro rata liability If a loss occurs that is covered...

Pearson VUE: Casualty Insurance Practice Exam 2023/2024|QUESTIONS & ANSWERS||100% VERIFIED ANSWERS||A+ GUARANTEE!!!