Broad collision - Study guides, Class notes & Summaries

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers B The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the following basis? A) Modified Perils B) Simplified Perils C) Br...

Florida 6-20 All Lines Adjuster Test Review |100% Correct| _______ limit an insurer's liability. A. Provisions B. Reinstatements C. Exclusions D. None of the above *Ans*C. Exclusions :All of the following events are considered acts of terrorism, except: A. Acts of riot and civil commotion B. Acts considered dangerous to human life, property or infrastructure. C. Acts resulting in damage within or outside the United States. D. Acts committed at the premises of any United S...

WA State Property & Casualty State exam questions and answers already passed Assignment The transfer of a policy to another party. Often done when commercial property is sold to a new owner. Building & Personal Property (BPP) The commercial property policy for larger businesses. Business Income Policy A commercial policy covering the indirect loss of income following a loss. Cancellation Termination of a policy during the policy period. Casualty Insurance A broad term which includes all of t...

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers - ANSWER-B The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the following basis? A) Modified Perils B) Simplified Perils C...

Property and Casualty Exam Questions and Answers 100% Pass the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - Correct Answer ️️ -true which of the following coverages does an open peril policy provide? - Correct Answer ️️ -perils other than those specifically named as being excluded determine the actual cash value in the following situation: original pric...

LOUISIANA P&C EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Aleatory Contract Correct Answer: the consideration that is being exchanged is unequal or unrelated to the consideration given by the other party Basic Form Correct Answer: named peril coverage, the least coverage available. In dwelling policies it includes: fire, lightning, removal, and internal explosion Broad Form Correct Answer: named peril coverage, covering more named perils than the basic form....

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers B The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the following basis? A) Modified Perils B) Simplified Perils C) Br...

NC Property and Casualty State Exam Latest Version Graded A+ Insurance - a plan of spreading the risk of possible loss over a large number of people (Law of Large Numbers) - protects against the risk (uncertainty) of when a financial loss might occur Speculative Risk - when there is a chance of gain as well as a chance of loss (ex: buying a stock, gambling) - insurance IS NOT intended to protect against this Pure Risk - when there is a chance of loss only - not all pure risks ar...

Golden Hour/Period Ans The time from injury to definitive care, during which treatment of shock and traumatic injuries should occur because survival potential is best. Usually within 1 hour Crush Injury Ans Trauma pattern in which the body tissues are subjected to severe compressive forces. -Limited circulation -Tissue hypoxia and acidosis, muscle rigor crush syndrome Ans -Body part trapped for 4 hours or longer. -Broad systemic complications -muscle tissue necrosis(rhabdomyolysis) ...

NJ P&C Insurance Exam With 100% Correct Answers 2023. A flood damages a single-family dwelling that is in a community in the early stages of participation in the NFIP, but they are not yet considered participating. What is the maximum a resident may receive for damages to their personal property? $10,000 Under the Dwelling Broad Form, losses to an unattached garage are paid on which basis? Replacement Cost Which of the following is false regarding the Building and Personal Property Covera...