Tennessee Property and Casualty
Expertly Verified Answers, 2025 |
Quiz_________________?
A financial loss resulting directly from a loss to property, such as a house fire or a diamond
ring being stolen is called:
A. direct loss
B. indirect loss
C. consequential loss
D, expense loss -
Answers✅
direct loss
Quiz_________________?
A flood is an example of
A. a peril
B. a moral hazard
C. a speculative risk
D. a physical hazard -
Answers✅
1
, Peril
Quiz_________________?
A guarantee that something is true is:
A. a representation
B. a misrepresentation
C. a material misrepresentation
D. a warranty -
Answers✅
a warranty
Quiz_________________?
A person in a position of financial trust is called
A. a commingler
B. a fiduciary
C. an actuary
D. an underwriter -
Answers✅
a fiduciary
Quiz_________________?
A person's property can be divided into two classes: real property (buildings) and:
A. specified property
2
, B. basic property
C. direct property
D. personal property -
Answers✅
personal property
Quiz_________________?
A personal articles floater can be a stand-alone policy or an endorsement to a homeowners
policy to provide coverage for all of the following except:
A. fine arts
B. stamps
C. Fixtures
D. jewelry -
Answers✅
fixtures
Quiz_________________?
A statement that is guaranteed to be true is:
A a warranty
B. a representation
C. an impersonation
D. a misrepresentation -
Answers✅
a warranty
3
, Quiz_________________?
Actual cash value is determined by subtracting which value from the replacement cost value
of a specific piece of property? -
Answers✅
depreciation value
Quiz_________________?
Actual cash value is the replacement cost of the property minus:
A. the depreciation
B the repair cost
C. the market value
D. the agreed value -
Answers✅
the depreciation; replacement cost - depreciation = ACV
Quiz_________________?
Agency is a relationship in which one person is authorized to represent and act for another
person or a corporation. In insurance, the insurance agent acts on behalf of:
A. the principal
B. the insured
C. the claimant
D. the adjuster -
Answers✅
the principal (insurance company)
4
Expertly Verified Answers, 2025 |
Quiz_________________?
A financial loss resulting directly from a loss to property, such as a house fire or a diamond
ring being stolen is called:
A. direct loss
B. indirect loss
C. consequential loss
D, expense loss -
Answers✅
direct loss
Quiz_________________?
A flood is an example of
A. a peril
B. a moral hazard
C. a speculative risk
D. a physical hazard -
Answers✅
1
, Peril
Quiz_________________?
A guarantee that something is true is:
A. a representation
B. a misrepresentation
C. a material misrepresentation
D. a warranty -
Answers✅
a warranty
Quiz_________________?
A person in a position of financial trust is called
A. a commingler
B. a fiduciary
C. an actuary
D. an underwriter -
Answers✅
a fiduciary
Quiz_________________?
A person's property can be divided into two classes: real property (buildings) and:
A. specified property
2
, B. basic property
C. direct property
D. personal property -
Answers✅
personal property
Quiz_________________?
A personal articles floater can be a stand-alone policy or an endorsement to a homeowners
policy to provide coverage for all of the following except:
A. fine arts
B. stamps
C. Fixtures
D. jewelry -
Answers✅
fixtures
Quiz_________________?
A statement that is guaranteed to be true is:
A a warranty
B. a representation
C. an impersonation
D. a misrepresentation -
Answers✅
a warranty
3
, Quiz_________________?
Actual cash value is determined by subtracting which value from the replacement cost value
of a specific piece of property? -
Answers✅
depreciation value
Quiz_________________?
Actual cash value is the replacement cost of the property minus:
A. the depreciation
B the repair cost
C. the market value
D. the agreed value -
Answers✅
the depreciation; replacement cost - depreciation = ACV
Quiz_________________?
Agency is a relationship in which one person is authorized to represent and act for another
person or a corporation. In insurance, the insurance agent acts on behalf of:
A. the principal
B. the insured
C. the claimant
D. the adjuster -
Answers✅
the principal (insurance company)
4
