GENERAL PROPERTY AND
CASUALTYINSURANCE PRODUCT KNOWLEDGE
PERTINENTTO ADJUSTERS Exam | Questions with
100% Correct Answers | Verified | Latest Update
2026
Save
Terms in this set (74)
FIRE POLICY CLAUSE The insuring clause indicates that the insurer
provides the named insured and legal
representatives, to the extent of the insured's
interest, with coverage on property described in
the declarations for the policy term shown in the
declarations
FIRE POLICY COVERAGE Property was covered on an actual cash value
basis against direct loss by only two perils: fire and
lightning.
All fires are not covered by the are hostile and have a flame or glow
Standard Fire policies, only those
that:
At what time does a fire policy go 12:01 am standard time
into affect?
, SFP exclusions accounts, bills, currency, deeds, evidences of debt,
money, or securities.
loss by fire or other covered perils caused by a
series of specifically listed war perils including
insurrection, rebellion, revolution, and civil war.
negligence to save property
SFP limitations The policy is void in the event of fraud,
concealment, or misrepresentation by the insured
related to the policy, whether it occurs before or
after a loss.
Proof of Loss of SFP the time and origin of the loss
the actual cash value of each item and the amount
of loss it sustained
verified plans and specifications of any building,
fixtures, or machinery destroyed or damaged.
etc..
Loss Requirements and Inventories the insured making a claim is required to produce
of SFP for examination all books of account, bills, invoices
and other vouchers or copies thereof.
Appraisal of SFP if insurer and insured can't agree on ACV. They
both select a appraiser, who then selects an
umpire, which the judge selects. Insure and Insured
split costs of umpire.
CASUALTYINSURANCE PRODUCT KNOWLEDGE
PERTINENTTO ADJUSTERS Exam | Questions with
100% Correct Answers | Verified | Latest Update
2026
Save
Terms in this set (74)
FIRE POLICY CLAUSE The insuring clause indicates that the insurer
provides the named insured and legal
representatives, to the extent of the insured's
interest, with coverage on property described in
the declarations for the policy term shown in the
declarations
FIRE POLICY COVERAGE Property was covered on an actual cash value
basis against direct loss by only two perils: fire and
lightning.
All fires are not covered by the are hostile and have a flame or glow
Standard Fire policies, only those
that:
At what time does a fire policy go 12:01 am standard time
into affect?
, SFP exclusions accounts, bills, currency, deeds, evidences of debt,
money, or securities.
loss by fire or other covered perils caused by a
series of specifically listed war perils including
insurrection, rebellion, revolution, and civil war.
negligence to save property
SFP limitations The policy is void in the event of fraud,
concealment, or misrepresentation by the insured
related to the policy, whether it occurs before or
after a loss.
Proof of Loss of SFP the time and origin of the loss
the actual cash value of each item and the amount
of loss it sustained
verified plans and specifications of any building,
fixtures, or machinery destroyed or damaged.
etc..
Loss Requirements and Inventories the insured making a claim is required to produce
of SFP for examination all books of account, bills, invoices
and other vouchers or copies thereof.
Appraisal of SFP if insurer and insured can't agree on ACV. They
both select a appraiser, who then selects an
umpire, which the judge selects. Insure and Insured
split costs of umpire.
