Coinsurance clause - Study guides, Class notes & Summaries

Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified). 1. S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000: answer- C 2. The MAXIMUM amount a p...

Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified). 1. S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000: answer- C 2. The MAXIMUM amount a p...

Texas Property and Casualty Exam Questions and Answers Verified 100% ____ is uncertainty of loss - risk ____ is a transfer of risk from the insured to the insurer - insurance ____ risk means there is no chance of gain. It is insurable. - pure ____ risk means there is a chance of a loss or a gain. It is not insurable. - speculative a ____ is something that increases the risk. - hazard the principle of _____ governs property and casualty policies. It states that the purpose of th...

Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified). 1. S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000: answer- C 2. The MAXIMUM amount a p...

Pearson VUE: Property Insurance Practice Exam Questions and Answers Rated A+ S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 C The MAXIMUM amount a policy wi...

National Real Estate Exam Questions and Answers 100% Pass 1. Efforts to increase homeownership include all the following EXCEPT A) requiring lower down payments. B) penalizing first-time homebuyers for using funds from IRA's. C) requiring loan applicants to have better credit. D) lowering closing costs for first-time home buyers. C) requiring loan applicants to have better credit. The real cost of owning a home includes certain costs/expenses that many people overlook. Which of t...

S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 C The MAXIMUM amount a policy will pay in the event of a loss is called the: A. coinsurance amount B. deductible C. limit o...

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

"Offer" and "acceptance" is best described as being: - Unconditional-communicated-same mannerwithin time limit A broker/agent is responsible for what? - Writing only those classes of business acceptable to his/her insurer. A building owned by A is sold for cash to B. Two days after the sale, a fire destroys the building causing a loss of $100,000. Neither the broker nor the insurer was notified of the change in ownership. The insurer would pay: - Nothing. (when you sell your house, you ...

Pearson Vue National Health Insurance Practice Test Questions and Answers Latest Updated 2024/2025 | Graded A+. An insurer must provide claim forms to an insured within a MAXIMUM of how many days after receiving notice of an Accident & Health claim? A. Five B. Fifteen C. Twenty D. Thirty: correct answer- b 2. Under a group health plan, an employer may offer additional benefits to classes of employees on the basis of all of the following factors EXCEPT: A. length of employment B. gender ...