Farm bop bonds Study guides, Class notes & Summaries

Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? - ANSWER-Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is done because it is simply not practical to schedule each dealer owned vehicle for physical damage. This is generally accomplished by the use of a monthly reporting form. An insured owns a motorcycle, ...

What requirements must Wholesalers and Distributors meet in order to be eligible for a BOP? - Answer- 25% or less of floor space is available to the general public, and less than 25% of gross income may come from retail sales. The first step in the claim process is to - Answer- Determining time and cost of repairs In Florida, an insurer has ___ days to pay or deny a claim. - Answer- 90 Jerome was shopping at ABC Imports when a light fixture fell from the ceiling and hit him on the head....

INSURANCE EXAM 1: Property and Casualty Questions and Answers 2023 Already Passed 100% Which of the following are the authorities that an agent can hold? *ANS* Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? *ANS* Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? *ANS* Temporary worker The major portion of the premium of an equipment breakdown policy ...

California Property and Casualty Exam Questions and answers, 100% Accurate. Which of the following is incorrect? Part A covers long term care Part A covers hospital care Part B covers physicians Part B requires monthly premium payments - Part A covers long term care Medical payments coverage under the personal auto policy applies for medical bills insured up to how long after an accident? One year Five years Three years Two years - Three years Workers Comp. Part....

Florida 6-20 All Lines Adjuster Test 276 questions ( 50 Pages) With Complete Solutions A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer -B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Report D. None of the above - Correct Answer -A. Field Report States have adopted statut...

Risk - Answer- Possibility (uncertainty) that a loss may occur. -The reason people buy insurance -Insurance is designed to provide for such losses, while not providing the insured with the possibility of gain from an accident, sickness, death, etc. Claim - Answer- Notifying the insurer (insurance company) of a loss in order to be paid for it. -Car accident, windshield replacement, etc. Loss - Answer- An unpredictable reduction in the quality, quantity, or value of something. -B...

California Property and Casualty Insurance Test Pool Questions and answers, rated A The term "Time element Coverage" is used when the amount of loss depends on what? The time it takes to repair, rebuild, or restore damaged property. - -The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,,...

ADJUSTER PRO TEXAS STUDY EXAM GUIDE All of the following pieces of information can be found in the conditions section of an insurance policy EXCEPT: - CORRECT ANSWER-Causes of loss that are not covered Which of the following best defines the principle of indemnity? - CORRECT ANSWERAfter a loss, the insured should be restored to his approximate financial condition before the loss SureTrust Insurance was founded and operates in Texas. In Texas, Suretrust is considered - CORRECT ANSWER...

Revision Package- Property And Casualty Exam (150 Questions) Solved 100% The Commercial Property policy applies a limit of what dollar amount for business personal property temporarily away from the premises? -ANS- $10,000 What is the name of the organization created to provide auto insurance to individuals who have been unable to obtain it through the private market? -ANS- The Connecticut Automobile Insurance Assigned Risk Plan Which term describes the situation when two policies cover...

PROPERTY AND CASUALTY INSURANCE MOCK Question with Correct Answers 100% Pass What is a peril? -ANS- A Peril is a cause of loss What is a hazard? -ANS- Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? -ANS- Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? -ANS- Retention (loss or portion of loss) If a fire causes damage to a buildin...