Fortuitous loss - Study guides, Class notes & Summaries

2-20 General Lines Florida Insurance Exam Questions and Answers 100% Pass Abandonment Clause - Correct Answer ️️ -often contained in a p/c policy stating that the insured cannot abandon damaged property to the (dump on) insurer and demand reimbursement for the full value. Accounts Receivable Coverage Form - Correct Answer ️️ -Inland Marine Coverage form which insures against loss the insured suffers becasuse of an inability to collect from customers when AR records are damaged. A...

Defining Property Insurance : -Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property : R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on : -Insured promise to pay a premium -Insurers promise to protect and indemnify 2 | P a g e Five elements of an ...

when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics - Which of the following statements is correct regarding characteristics of ideally insurable loss exposures - ideally, loss exposures should be spread across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury ...

RFBT 1 Graded A+ 1. **"I will give you my car provided that if I want it back, you will return it to me."** A. The obligation is void because its fulfillment depends on the will of the debtor. B. The obligation is void because its fulfillment depends on the will of the creditor. C. The obligation is valid because the condition merely results in the loss of rights already acquired. D. Both A and B. ️ C. The obligation is valid because the condition merely results in the loss of rig...

Florida Personal Lines 20-44 Definitions Questions and Answers 100% Pass Abandonment Clause - Correct Answer ️️ -A clause often contained in property insurance policies stating that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value Accident - Correct Answer ️️ -A sudden fortuitous event Actual Cash Value (ACV) - Correct Answer ️️ -The cost to replace an item of property at the time of loss, less an allowance for depreciat...

Chapter 9 - General Insurance and Takaful Products Questions and Answers 100% Pass Types of Motor Takaful Cover - Correct Answer ️️ -Motorcycle Private Car Commercial Vehicle Taxi Buses Tankers Act Only - Correct Answer ️️ -Third party bodily injury Third Party Cover - Correct Answer ️️ -Third party bodily injury Third party property damage. Third Party Fire and Theft - Correct Answer ️️ -Third party bodily injury Third party property damage Fire or theft Comprehen...

Enterprise Risk - encompasses all major risks faced by a business firm, which include: pure risk, speculative risk, strategic risk, operational risk, and financial risk Expense Loading - the amount needed to pay all expenses, including commissions, general administrative expenses, state premium taxes, acquisition expenses, and an allowance for contingencies and profit Admitted Assets - assets that an insurer can show on its statutory balance sheet in determining its financial condition Ad...

C12 - Insurance on Property – Midterm Exam Questions and Answers 100% Pass Defining Property Insurance - Correct Answer ️️ --Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - Correct Answer ️️ -R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is b...

Florida General Lines 2-20 Terms with Complete SolutionsFlorida General Lines 2-20 Terms with Complete SolutionsFlorida General Lines 2-20 Terms with Complete SolutionsFlorida General Lines 2-20 Terms with Complete SolutionsFlorida General Lines 2-20 Terms with Complete Solutions Accident - ANSWER-A sudden fortuitous event abandonment clause - ANSWER-A clause often contained in property insurance policies stating that the insured cannot abandon damaged property to the insurer and demand to b...

C12 - Insurance on Property – Midterm Exam Questions With 100% Verified Answers Defining Property Insurance - answer-Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - answerR: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - answer-Insured prom...