Waiver of subrogation - Study guides, Class notes & Summaries

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement...

CMCA - M100 Exam Questions With 100% Correct Answers 55 and older community - answerMust have one person who is 55 years of age or older living in at least 80% of its occupied units. The community must be designated "55 and older" to qualify as this type of housing that legally prohibits children and limits occupancy to a certain age span. The designation process involves submitting applications and obtaining approval before any enforcement of the ages of residents commences. Approval fr...

FLORIDA 2-20 EXAM | 837 TEST BANK ACTUAL QUESTIONS AND ANSWERS 100% CORRECT | LATEST UPDATE 2024 {WELL ILLUSTRATED} 1.If someone would suffer economic loss from damage to their property, they have: A: a subrogation right B: a proximate cause C: an insurable interest D: a contingent claim C: an insurable interest 2. A convenience used to provide temporary insurance is called: A - Insurance B - binder C- property coverage D- liability coverage B - binder 3. The failure of ...

Florida General Lines Agent Exam questions with 100% correct answers What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - Correct Answer ️️ -a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreeme...

ADJUSTERPRO - PRACTICE EXAM 2024 LATEST ACTUAL QUESTIONS WITH VERIFIED COMPLETE SOLUTIONS ANSWERED AND GRADED A++ Stephen's insurer denied his claim because the peril was not covered. But, according to Stephen's understanding of the policy, his loss should be covered, so he filed a dispute. During the trial, the jury agreed that the policy language was open to interpretation, so they decided in favor of Stephen. This is because: A. insurance policies are contracts of adhesion. B. insura...

Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D. Verifying contractor insurance. B Legal review prior to executing a contract will assist the association in the event that: A. A subcontractor is used. B. A performance bond is required. C. There is a budgetary shortfall. D. The board has questions or concerns. D Rather than describing the scope of work in de...

DBIA Test Final Exam Questions and Answers 2025 Updated advancing the design - CORRECT ANSWER-basis of design documents that if changed, would allow for a change order, expectation that design-builder will review these documents to discover and resolve conflicts or ambiguities, order of preference, determining submittal review and approval process, meet and confer process, owner to approve final construction documents, interim and final documents are to be consistent with the Basis of Design Do...

Lender Interest Provisions - Protects lender interest by allowing the lender certain rights in the policy. Coinsurance Penalty - A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater than a specified percentage (commonly 80 percent) of the value of the insured property. Underinsured - A situation resulting from a failure to carry enough coverage on the value of a property, especially when the...

Risk correct answersUncertainty Types of risk correct answersPure vs speculative Pure not insured Peril correct answersCause of loss- open vs named Hazard correct answersTypes- physical , moral , morale Indemnity correct answersNo gain Subrogation correct answersInsurance sues at fault party Fiduciary correct answersResponsible for property of others Waiver correct answersInsurance company voluntarily gives up a policy right Warranty correct answersWritten into contract...

Florida General Lines Agent Exam questions With Verified Answers What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - answera What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insuran...