Civil commotion - Study guides, Class notes & Summaries

DP-1 - Basic Form Dwelling Policy: Provides coverage on a named peril basis. DP-1 - Losses are paid actual cash value Extended Coverage Perils - W.C. SHAVVER: Wind, Civil Commotion, Smoke, Hail, Aircraft, Vehicles, Volcanic Eruption, Explosion, and Riot DP-2 - Broad Form Dwelling Policy: Provides replacement cost coverage on dwellings & buildings on a "named peril" basis, contents are actual cash value Uninsurable (excluded) losses - Under the open- peril insuring agreement include damag...

AINS 23 TEST QUESTIONS WITH ALL CORRECT ANSWERS Which one of the following statements is true regarding insurance coverage for foreign operations? - Answer- Small to mid-sized businesses in the United States frequently must concern themselves with loss exposures that exist outside of the usual coverage territory in standard U.S. coverage forms. Fiduciary bonds are commonly required of a person who does which one of the following? - Answer- Holds property in trust for the benefit of others ...

What are the penalties for violating the Fair Credit Reporting Act? correct answers $5,000, Imprisonment for 1 year or both How long to give notice to client about credit report? correct answers 3 days after report is requested TRIPRA defines terrorism as... correct answers A violent act or an act that is dangerous to human life, property or infrastructure that results in damage in or outside the US committed by domestic or foreign terrorists. TRIPRA Regulations correct answers Triggeri...

DP - valuation - DP-1 - ACV building & contents DP-2/3 - RCV building & ACV contents DP - limit for fair rental value - 20% of A DP - coverages (A-E) - A - dwelling B - other structures C - personal property D - fair rental value E - additional living expense DP - limit for additional living expenses - DP-1 - NONE DP-2/3 - 20% of A DP - Property removed is covered for ___ days. - DP-1 - 5 days DP-2 - 30 days DP - limit for trees/plants/shrubs - 5% of A $500 per tree/shrub/plant DP...

Property and Casualty Insurance EXAM Questions and Answers 100% Pass 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, retain, and ...

HO-2 correct answers "Broad" Named-peril form; covers the insureds house and personal property. HO-4 correct answers "Contents Broad Form" Named Peril Form; Renters insurance; covers personal property but not house and other structures. HO-6 correct answers "Unit Owners form" Named Peril Form; Condo Form; Covers owner's belongings and all finished surfaces of the individual condominium unit. HO-8 correct answers "Modified Coverage Form" Named Peril Form; Covers property at ACV,...

Dwelling ('02) Policy correct answer: Is used to insure 1-4 unit residential dwellings that are not eligible for coverage under the regular homeowners program because of age, location, value, or other factors. 3 Coverage Forms (Dwelling Program) correct answer: 1.DP 00 01- Basic 2.DP 00 02-Broad 3.DP 00 03-Special Basic Form correct answer: Is a named peril coverage form and provides the most limited coverage of the 3 forms. Losses under this form will be paid on ACV basis. Basic ...

PA Property and Casualty License PractiAn exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. - ANSWER an Earth movement exclusion An exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of the fact that the individual did not maintain the property. - ANSWER Neglect exclusion Which Home Owner's form covers dama...

GEORGIA CLAIMS ADJUSTER LICENSING LATEST UPDATED EXAM 2024 FINEST VERIFIED QUESTIONS CORRECTLY ANSWERED 100% QUALIFIED PASS WITH RATIONALES ALREADY RANKED A+…. The acronym OSCAR is for: - ANSWER- Open peril aka Special/AllRisk/Comprehensive The acronym ACCL is for: - ANSWER- Parts of a contract; agreement (offer and acceptance), competent parties, consideration, legal purpose The acronym DICEED is for: - ANSWER- Parts of a contract; declarations, insuring agreements, conditions,...

Property and Casualty Insurance EXAM Insurance Concepts and Definitions Types of Insurance - Specific Insurance ️: Covers a particular item or property. - Blanket Insurance ️: Provides coverage for multiple items at a single location or for several items across different locations. Risk Types - Speculative Risk ️: Involves the possibility of both loss and gain; it is non-insurable. - Pure Risk ️: Involves only the possibility of loss; this type of risk is insurable. Risk Manage...