Additional living expense - Study guides, Class notes & Summaries

One of the following policies covers Mobile Homes: a. Dp-1 b. Dp-2 c. Dp-3 d. Ho-4 Correct Answer: a. Dp-1 On a dwelling policy, personal property would be covered at: a. ACV b. Replacement Cost c. Not covered d. 80% of Value Correct Answer: a. ACV 2 DP-1 would cover all of the following without endorsement except: a. other structures b. personal property c. rental value d. additional living expense Correct Answer: d. additional living expense One of the following would be c...

state farm property exam (Mamas Test)| Answered 100% Correctly| Updated under an FP-7955 policy, deductibles apply to which of the following types of losses. B. Fire department service charges in the FP-7955 policy, Coverage C consists of three coverages: 1. Additional Living Expense, 2. Fair Rental Value and 3. Property Removed. True or False? B. False Jennifer Marco has a FP-7955 policy with coverage B limit of $75,000, a $500 deductible and no option AI, ID, FA, or JF. Which of the foll...

1 Microeconomics deals with: • the working of the entire economy or large sectors of it. Incorrect • economic growth. Incorrect • individual decision makers in the economy. (True Answer )Correct • gross domestic product. Incorrect 2 The study of a single firm and how it determines prices would fall under the study of: • macroeconomics. Incorrect • microeconomics. (True Answer )Correct • economic growth. Incorrect • fiscal policy. Incorrect 3 Macroeconomics deal...

AZ Insurance Exam 13-33 (2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Which of the following is NOT a valid contract age? Answer: An annuity exchanged for a life insurance policy. Q: Tim is covered by an accident and health insurance policy that may not be changed in any way by the insurer up to a stetted age, as long as the premiums are paid. What type of policy is this? Answer: Noncancelable Q: An insurer will typically assess a bac...

Insurance License NY Questions and Answers Graded A New home buyer S called his agent and told him that he wanted the broadest coverage available for his new home. Which policy would the agent be most likely to recommend? A) HO-3 B) HO-5 C) HO-2 D) HO-8 - Answer ️️ -B Which of the following best defines a hazard? A) It eliminates the chance of loss B) It increases the chance of loss C) It is a cause of loss D) It increases the amount of loss - Answer ️️ -B Under the Homeowne...

Dwelling Policy - ACCURATE ANSWERS Only insures property DP-1 - ACCURATE ANSWERS Basic Form DP-2 - ACCURATE ANSWERS Broad Form DP-3 - ACCURATE ANSWERS Special Form Dwelling Coverage A - ACCURATE ANSWERS Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the dwelling. Dwelling Coverage B - ACCURATE ANSWERS Other Structures- Insures buildings on premise but separate from the dwelling. Dwelling Coverage C - ACCURATE ANSWERS Personal Property- Co...

WA Surplus Lines - Property Terms Part 1 Questions And Answers Abandonment Clause - ANS A clause in fire insurance policies and other property forms that prohibits the insured from abandoning partially damaged property to the insurer in order to claim a total loss Account Premium Modification Plan - ANS A rating plan for Fire, Property Damage and Time Element coverages. The maximum credit or surcharge is 25%, and it is available to risks which develop a three-year premium of at le...

Insurance: Property & Casualty UPDATED Exam Questions and CORRECT Answers Accident - Correct Answer- A sudden and unexpected event which occurs at a specific time and place. Actual Cash Value (ACV) - Correct Answer- The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimbursement for a loss. Additional Living Expense - Correct Answer- A coverage designed to reimburse the insured for an increase in living...

The function in the adjusting process by which an adjuster records his or her activities, findings, and thoughts on disposition of a claim is know as what? - Answer Documentation and Reporting A "direct writing" insurance company sells its policies through: A. Employees of the company B. Licensed insurance brokers C. Independent insurance agents D. Exclusive or Captive agents - Answer A. Employees of the company The insured purchased a large tarp from Home Depot to prevent furt...

NJ Property Producer Exam with Certified Solutions Dwelling Policy Only insures property DP-1 Basic Form DP-2 Broad Form DP-3 Special Form Dwelling Coverage A Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the dwelling. Dwelling Coverage B Other Structures- Insures buildings on premise but separate from the dwelling. Dwelling Coverage C Personal Property- Covers the insured's personal property and must be requested. If rental pr...