Pro rata liability clause Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Pro rata liability clause? On this page you'll find 532 study documents about Pro rata liability clause.
All 532 results
Sort by
-
New York State Property And Casualty Licensing Exam Questions And Answers
- Exam (elaborations) • 8 pages • 2024
-
Available in package deal
-
- $12.99
- 3x sold
- + learn more
New York State Property And Casualty Licensing Exam Questions And Answers 
 
New York State Property And Casualty Licensing Exam Questions And Answers
-
Florida Claims Adjuster Exam 206 Questions with 100% Correct Answers 33 Pages
- Exam (elaborations) • 33 pages • 2023
-
- $13.99
- 3x sold
- + learn more
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as 
additional interests on his homeowner policy. The insurance company will make a payment to: 
A. The first mortgagee, ABC 
B. The Insured 
C. Jointly to ABC and XYZ 
D. All listed interests - Correct Answer -D. All listed interests Remember that the insurer is not 
responsible to know the degrees of interest. In the event of a loss, one payment is made by 
the insurer and it is up to the additional in...
-
New York State Property and Casualty Licensing Exam Questions and Answers Graded A+
- Exam (elaborations) • 9 pages • 2023
-
Available in package deal
-
- $9.99
- 1x sold
- + learn more
New York State Property and Casualty Licensing Exam Questions and Answers Graded A+ 
 
Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies 
The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. 
 
pro rata liability If a loss occurs that is covered...
-
Texas Property and Casualty Exam Questions and Answers Verified 100%
- Exam (elaborations) • 25 pages • 2023
-
Available in package deal
-
- $10.49
- 1x sold
- + learn more
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 Already Passed
- Exam (elaborations) • 30 pages • 2023
-
Available in package deal
-
- $9.99
- 1x sold
- + learn more
Pearson VUE: Property Insurance Practice Exam Already Passed 
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 ca...
Make study stress less painful
-
AL Practice Exam – Adjusting 2023 with complete solution
- Exam (elaborations) • 29 pages • 2023
-
Available in package deal
-
- $10.69
- 1x sold
- + learn more
1.	1. The insured carries a BOP policy with protective systems such as a sprinkler system. If the system becomes inoperative, the insured must 
advise the insurance company of the problem within	if the system cannot be restored to working order: 48 hours Your Answer 
2.	2. Tina has two policies (Policy X and Policy Y) that cover the same risk on a pro rata basis. Policy X has a limit of $100,000 and Policy Y has a limit of 
$25,000. When Tina suffers a loss totaling $75,000, how will the two pol...
-
New York State Property and Casualty Licensing Exam Questions and Answers Already Passed
- Exam (elaborations) • 12 pages • 2022
-
Available in package deal
-
- $9.49
- 1x sold
- + learn more
New York State Property and Casualty Licensing Exam Questions and Answers Already Passed 
Pro Rata Liability Clause is included in an insurance policy to deal with the problem of Duplicate insurance policies The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the total coverage carried. 
pro rata liability If a loss occurs that is covered b...
-
Claims Adjuster Final (Multiple Choice Questions) 2022/2023
- Exam (elaborations) • 16 pages • 2022
-
- $14.49
- 1x sold
- + learn more
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of 
The insured and insurer 
 
 
 
An insurer gives which of the following as Consideration for an insurance policy? 
A Promise 
 
 
 
The interest of the insured and all other persons in the property involved in a claim is 
found in 
A Proof of Loss 
 
 
 
An insured rear-ends another driver's vehicle. The auto policy that pays damages to 
repair the damaged vehicle is a _______? 
Liability Policy 
 
 
 
Your ins...
-
Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified).
- Exam (elaborations) • 29 pages • 2024
-
- $11.99
- + learn more
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...
-
State Farm Property (Actual) Exam Solved 100% Correct
- Exam (elaborations) • 4 pages • 2023
- Available in package deal
-
- $9.99
- 1x sold
- + learn more
In property insurance actual cash value is defined as which of the following - ANSWER-Replacement cost at the time of the loss, less depreciation 
 
Peril is most easily defined as - ANSWER-the cause of loss insured against 
 
What is a leading factor in the determination of actual cash value - ANSWER-replacement cost 
 
Replacement cost is defined as - ANSWER-full replacement of property at its current cost, new and without reduction for depreciation 
 
Property insurance that provides 100k cov...
Study stress? For sellers on Stuvia, these are actually golden times. KA-CHING! Earn from your study resources too and start uploading now. Discover all about earning on Stuvia