Sc property casualty - Study guides, Class notes & Summaries

SC Property, Casualty, Surety and Marine Adjuster 19-11 Licensing Course Questions With Solutions 100% Correct Exclusions Describe property, perils, hazards, or losses arising from specific causes that are not covered by the policy. Found in the exclusions section of the policy but can also be scattered throughout the policy. Endorsements Used to add, delete, or change any of the policy parts. Endorsements may alter the content of the declarations and insuring agreements, and they ma...

SC Property, Casualty, Surety and Marine Adjuster 19-11 Licensing Course Questions With Solutions 100% Correct Exclusions Describe property, perils, hazards, or losses arising from specific causes that are not covered by the policy. Found in the exclusions section of the policy but can also be scattered throughout the policy. Endorsements Used to add, delete, or change any of the policy parts. Endorsements may alter the content of the declarations and insuring agreements, and they ma...

South Carolina Property and Casualty Insurance Exam Questions and Verified Answers (2024 / 2025)/ A+ GRADE 1. The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? ANS Underwriting 2. The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the cost of the examina- tion? ANS Foreign company 3. Driver A has a personal auto policy w...

South Carolina Property and Casualty Insurance Exam Latest Update Graded A+ The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? Underwriting The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the cost of the examination? Foreign company Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. H...

SC Insurance Brokers Exam UPDATED Exam Questions and CORRECT Answers Resident Licensing Requirements - Correct ANSWER- 1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements - Correct ANSWER- 1. File application on form prescribed by the director. 2. File affidavit stating insurance on...

Resident Licensing Requirements - Answer 1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements - Answer 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to...

South Carolina Property and Casualty Insurance Exam Questions And Answers The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? - ANS Underwriting The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the cost of the examination? - ANS Foreign company Driver A has a personal auto policy with Part C: UM/UIM limit...

Accumulated Depreciation The total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Actual Cash Value (A...

Resident Licensing Requirements 1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to operate in SC. 3...