Sc insurance exam - Study guides, Class notes & Summaries

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SC Property, Casualty, Surety, Marine Exam Revised Questions And Correct Answers Accumulated Depreciation - ANSWER : 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 - ANSWER : 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 Actual Cash Value (ACV) - ANSWER : A valuat...

SC P&C Insurance Exam Study Guide Latest Version Graded A+ Abandonment the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident an unplanned, unforseen event which occurs suddenly and at a s...

SC Insurance License Exam with correct Answers

SC Insurance License Exam with correct Answers

SC P&C Insurance Exam Questions and Answers (Latest Update 2024)

SC P&C Insurance Exam Study Guide Questions And Answers Abandonment - ANS the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - ANS Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - ANS an unplanned, unforseen event which occurs s...

SC P&C Insurance Exam Study Guide

SC P&C Insurance Exam Study Guide

South Carolina SC P&C Insurance Exam Study Guide 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

SC P&C Insurance Exam Study Guide exam questions with 100% correct answers.