Property and Casualty Insurance Study guides, Class notes & Summaries

GA Property & Casualty Exam Questions and Answers Insurance policy covers what type of losses In order to have an indirect loss, you must have What does property insurance cover? Direct loss Indirect loss What is the purpose of personal lines insurance? What is the purpose of commercial insurance? Who transfers risk in insurance? How do insurance companies use premiums? Named Insured Who is the insurance company? Cancellation Insured cancels policy Risk Mad...

An Insurance company is the_____. correct answers Principle An insurance company issued a homeowners policy that included ambiguous language regarding how a loss was settled. The insured sued the insurance company and won. The judge stated that due to the ambiguous language in the contract the decision must be made in favor of the insured. The judge was basing this decision on which of the following types of insurance contract? correct answers Contract of adhesion The _____ page in an insu...

PROPERTY AND CASUALTY INSURANCE EXAM/ RECENT VERSION 2024 ALL 200 QUESTIONS AND CORRECT ANSWERS/ BEST GRADED A+

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Which of the following are the authorities that an agent can hold? Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? Temporary worker The major portion of the premium of an equipment breakdown policy pays? For inspections and examinations An insured owns a building valued at $400,000. To comply with the 80% ...

Property and Casualty Insurance - Final Exam All Answers Correct An unlicensed employee of an insurance agency may perform all of the following EXCEPT: A) Accept a claim form B) Type correspondence for a direct mail campaign C) Deposit properly endorsed checks into the agency's bank account •• D) Advise an insured of coverage issues A producer must notify the insurance division of an address change within: A) 10 days B) 20 days C) 25 days •• D) 30 days A Temporary Li...

PROPERTY AND CASUALTY INSURANCE EXAM

Property And Casualty Insurance Exam With Correct Solutions 2024 Absolute Liability - correct answer.Liability that arises from an extremely dangerous situation. Absolute liability is often found in cases involving explosives. Also known as "strict" liability. For ex you are absolutely liable if you keep a wild animal as a pet. Accident - correct answer.A sudden and unexpected event, occurring at a specific time and place. Actual Cash Value (ACV) - correct answer.The c...

Property And Casualty Insurance Exam With Complete Solutions 2024 Which of the following are the authorities that an agent can hold? - correct answer.Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - correct answer.Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? - correct answer.Temporary worker The major portion of the premium of an equ...