Georgia property - Study guides, Class notes & Summaries

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM Prep |QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A (2024/ 2025 UPDATE) Q: For the reported losses of an insured group to become more likely to equal the statistical probability of loss for that particular class, the insured group must become Answer: Larger Q: Which method of loss valuation is contrary to the basic concept of indemnity? Answer: Replacement cost Q: What term includes damage where the insured peril was...

Georgia Property & Casualty Exam Questions and Answers 100% pass Which of the following correctly describes a principal difference between a dwelling policy and a homeowners policy? A.) A dwelling policy only covers the dwelling, other structures, personal property, fair rental value, and additional living expenses. It does not cover liability. B.) Both policies are almost identical, except that the homeowners policy focuses on the more expensive homes. C.) A dwelling policy requires tha...

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM Prep (Latest 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A Q: Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost? Answer: Indemnity Q: legal process that gives the insurer, after payment of a loss, the right to seek recovery from a third party that was responsible for the loss Answer:...

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM (LATEST 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A Q: Once an injured employee has received benefits provided under workers' compensation, that employee may not file a suit against her employer to gain additional benefits. This is the def. of A. Contributory negligence B. the fellow servant rule C. Assumption of risk D. Exclusive remedy Answer: D. executive remedy Q: The purpose of the basic extend...

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM |QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A (2024/ 2025 UPDATE) Q: Who is the insurance company? Answer: The author of the policy, issuer of the policy, and enforcer of policy Q: Cancellation Answer: Stop policy mid-term before it has the chance to expire. Both insurer and insured can cancel a policy Q: Insured cancels policy Answer: Request must be made in writing Q: Risk Answer: uncertainty of...

Georgia Property and Casualty Exam 2024 New Latest Version with All Questions and 100% Correct Answers

Georgia Property and Casualty Insurance Exam COMPLETE 500 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ What is a Homeowners Insurance Policy? - CORRECT ANSWER A standardized package insurance policy for residential real estate owners. What does a Homeowners Insurance Policy cover? - CORRECT ANSWER Financial loss from fire, theft, public liability, and other common risks. What is the Dwellings Policy also known as? - CORRECT ANSWER Covera

Georgia Property & Casualty Exam Questions and Answers 100% Correct Which of the following correctly describes a principal difference between a dwelling policy and a homeowners policy? A.) A dwelling policy only covers the dwelling, other structures, personal property, fair rental value, and additional living expenses. It does not cover liability. B.) Both policies are almost identical, except that the homeowners policy focuses on the more expensive homes. C.) A dwelling policy requires ...

GEORGIA PROPERTY AND CASUALTY INSURANCE EXAM 2 LATEST VERSIONS NEWEST 2024 (VERSION A AND B) COMPLETE 350 QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GARDED A

Georgia Property & Casualty Exam Questions and Answers 100% pass Which of the following correctly describes a principal difference between a dwelling policy and a homeowners policy? A.) A dwelling policy only covers the dwelling, other structures, personal property, fair rental value, and additional living expenses. It does not cover liability. B.) Both policies are almost identical, except that the homeowners policy focuses on the more expensive homes. C.) A dwelling policy requires tha...