Bail bonds part 3 - Study guides, Class notes & Summaries

Fx property and casualty Exam Comprehensively covered Questions and Answers 2023 1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. - 2. Coverage by endorsement. 2. Personal business property out in the open is covered under Commercial Property Policy only while (Choose from the following options) ...

Agreed Value - ANSWER Agreed upon value written for a specific amount. Ex. an appraisal on a classic car that is expected to increase in value over time. Salvage Value - ANSWER Sales value of damaged goods without replacement or exchange Market Value - ANSWER What the product can be sold for at the time of loss (before damage) Actual Cash Value - ANSWER The cost to replace minus depreciation. EX. Most home owners policies payout using ACB model. Replacement Cost - ANSWER What is woul...

NY Property and Casualty Insurance Practice Exam with Real Solution Underwriters are permitted to use all of the following when underwriting an application for insurance EXCEPT: - age, race, and religion Which of the following would be covered by a commercial package policy? - loss due to crime Which exposure is unique to mobile homes? from foreclosure 2. loss from collapse of awnings 3. loss from flood damage 4. loss from collision damage - Which of the following is the stan...

Florida exam All lines Questions and Answers Commercial Automobile coverage can be written as a monocline policy or as part of a Commercial Package Policy (PCP). · What are the five (5) Commercial Auto Coverage forms? {{Correct Ans- o 1. Business Auto; o 2. Business Auto Physical Damage; o 3. Garage; o 4. Truckers; and o 5. Motor Carrier · What are the five sections to a Business Auto Policy? {{Correct Ans- o 1. Section I - Covered Auto Symbols o 2. Section II - Liability Coverag...

California Property and Casualty Exam with Absolute Solution Most workers compensation policies are written for 1 year terms. - true A person licensed as either a property and casualty agent/broker or as an accident and health agent may be authorized to transact disability insurance for an admitted insurer by filing a notice of appointment from that insurer. This is known as: - Dual Authority HMO's, PPO's, and POS, are referred to as what kind of care? - Managed care Which of the f...

Adjuster Pro Certificate Exam (2023) The Personal Auto Policy (PAP) - CORRECT ANSWER-A policy that combines liability insurance with other optional coverages PAP Policies can cover - CORRECT ANSWER--Individuals and residing family members -People driving car with owner's permission -Four-wheeled vehicles under 10,000 lbs *Insurable interest is required PAP Policies will indemnify for: - CORRECT ANSWER--Property Damage -Personal Injury -Legal Defense What will PAPs not pay for - COR...

What are 3 subjects an auto policy covers? - Answer- 1. Body 2. The vehicle 3. Assets Bodily Injury Types - Answer- Personal Injury Med Pay Uninsured Motorist No Fault Insurance - Answer- State stipulates that parties cannot file a claim to the other persons insurance policy unless required in excess. Instead, each party is required to file a primary claim against their own insurance regardless who is at fault. EX. Florida Financial Responsibility Laws - Answer- State Laws regulat...

LA Claims Adjuster Property and Causality Practice Exam 2 Questions and answers 2023 A single Declarations page common to all coverages A single conditions section common to all coverages A commercial package policy always includes Send the insured a reservation of rights letter If the insured fails to report claim in a timely fashion, the adjuster will immediately ___ $1000 per person The basic limit for coverage F-medical payments of the standard homeowners form is normally ...

Property and Casualty Insurance EXAM Latest Update 2023 Specific insurance - This type of insurance designates a particular item to be insured Blanket insurance - This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - possibility of both gain and loss. Not insurable. Pure - only the possibility of loss. Insurable. What are the 5 methods of managing or handling risk? - avoid, control, reta...

A single Declarations page common to all coverages A single conditions section common to all coverages - Answer A commercial package policy always includes Send the insured a reservation of rights letter - Answer If the insured fails to report claim in a timely fashion, the adjuster will immediately ___ $1000 per person - Answer The basic limit for coverage F-medical payments of the standard homeowners form is normally $250 - Answer The CGL provides up to ___per day for loss of earning...