Questions and Correct Answers | Graded A+ |
Verified Answers | Just Released
A loss that occurs at a specific time and place or over a period of time. such as fire
or hail storm. ---------CORRECT ANSWER-----------------Occurrence
The lack of reasonable care that is required to protect other from the
unreasonable chance of harm. ---------CORRECT ANSWER-----------------Negligence
The maximum amount of money the insurance company will pay for a particular
loss, or for losses sustained during a period of time. Also called limit of coverage,
limit of insurance and policy limit ---------CORRECT ANSWER-----------------Limits of
Liability
Assignment of interest ---------CORRECT ANSWER-----------------You may not assign
your interest in this policy without our written consent
You may assign to another party your right to an indemnity for the crop year only
on our form and with our approval. the assignee with have the right to submit the
loss notices and forms required by the policy. ---------CORRECT ANSWER--------------
---Assignment of Indemnity
,Final Planting Date FPD ---------CORRECT ANSWER-----------------last day to plant
unless insured for late planting
Last day to apply for coverage ---------CORRECT ANSWER-----------------Sales Closing
Date SCD
The last day to report the acreage planted. if not reported, insurance will not be
in effect ---------CORRECT ANSWER-----------------Acreage Reporting Date ARD
Last day to pay the premium with out being charged interest ---------CORRECT
ANSWER-----------------Payment Due Date
Last day to request cancellation of policy for the next year ---------CORRECT
ANSWER-----------------Cancellation Date
Last day to report production for actual production history APH ---------CORRECT
ANSWER-----------------Production Reporting Date PRD
, Date insurance company will terminate the policy for nonpayment ---------
CORRECT ANSWER-----------------Debt Termination Date
Anyone who wants to insure their share in an insurable crop. owner operators,
tenants, renters, crop-share landlords, partnerships, corporations and estates -----
----CORRECT ANSWER-----------------Insured Eligibility
Yield/Revenue Guarantee for APH ---------CORRECT ANSWER-----------------
approved yield X coverage level
Yield/Revenue Guarantee for YP ---------CORRECT ANSWER-----------------APH
approved yield X coverage level X projected price
A license may not be renewed or a new license issued in those lines for which the
licensee who fails to comply with continuing education requirements ---------
CORRECT ANSWER-----------------Renewal
How much is the applicable renewal fee? ---------CORRECT ANSWER-----------------
$25