Study guides, Class notes & Summaries

Insurance broker means a person who, for compensation and on behalf of another person, transacts insurance other than life with, but not on behalf of, an insurer. True or False? correct answer: False - An insurance broker is a specialist in insurance and risk management. Brokers act on behalf of their clients and provide advice in the interests of their clients. Transacting insurance includes: A. Execution of a contract of insurance B. All of the choices C. Solicitation D. Negotiation c...

Property And Casualty - NJ STATE Exam With Actual Solution Professional liability policies protect against liability resulting from - CORRECT ANSWER-A. Errors and Omissions Page 46 Mini-Tail or Extended. Page 60 - CORRECT ANSWER-B. 60 Days after expiration date Not an exclusion under auto physical damage selection. Page 28 - CORRECT ANSWER-C. Carpools Not a covered territory in the personal auto policy. Page 25 - CORRECT ANSWER-C. Mexi

Property And Casualty Exam Study Guide With Verified Question & Answer Employees are barred from suing employers in court to obtain compensation for injuries covered by workers' compensation because of which of the following doctrines? -Employer liability -Exclusive remedy -Workman liability -No fault insurance - CORRECT ANSWER-Exclusive Remedy

CHAPTER 1. Property and Casualty Exam Texas (2022/2023) Rated A+ INSURANCE The method of spreading the risk of a financial loss among a large number of people. When spreading the risk reduces the financial impact of an individual loss. INSURANCE COMPANY entity that agrees to indemnify (make financially whole again) Insureds against covered losses PROPERTY Various types of insurance designed to insure property from financial loss. D.H.C.I.O.C

Property II Exam Questions With Complete Solutions

Property II Midterm Questions With Complete Solutions

Examfx Property and Casualty Testbank 1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. - 2. Coverage by endorsement. 2. Personal business property out in the open is covered under Commercial Property Policy only while (Choose from the following options) 1. Within 150 feet of the described premises. 2....

The Business owners Policy, or BOP, is a ____ policy that can be used to cover most small low _____. - ANSWER Prepackaged, Low risk One of the advantages of the BOP is that it is ____, which means that many of the coverage questions have been predetermined by the insurance company which lowers the _____. - ANSWER Prepackaged, Premium The BOP automatically includes both ____ coverage's and ____ coverage's. - ANSWER Property and Liability Eligible for a BOP are small to medium _____ bus...

The main difference between an HO-4 and HO-6 is? A: HO-6 does not cover additional living expenses B: HO-4 provides limited dwelling coverage as well as contents coverage C: HO-6 provides limited dwelling coverage as well as contents coverage D: HO-4 does not cover additional living expenses - C The most the insurer will pay for a loss under a business policy is? A: The amount of the loss minus the deductible B: 80% of the loss C: 20% of the loss D: The limit of insurance after the ded...

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