RWARAKA

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

What is the difference between a Moral hazard and a Morale Hazard? Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire considered? A Peril What are the elements of an insurable risk? CANHAM Calculable, Affordable, Non-Catastrophic, Homogeneous, Accidental, Measurable If an insurance compan...

What is covered under Basic form ? Coverages included in a typical Basic Form policy are: 1. Fire 2. Lightning (natural electricity) 3. Windstorm or Hail 4. Explosion (no coverage for bursting pipes or rupture of pressure relief devices) 5. Vandalism or malicious mischief 6. Vehicles or aircraft collision 7. Riot or civil commotion 8. Sinkhole collapse (excludes cost of filling or collapse into man-mad underground cavities 9. Volcanic Activity (excludes removal of ash or other Bas...

HO-2 - answersmid range home insurance policy that is named perils HO-3 - answersMost common---open perils on house, named perils on personal belongings HO-4 - answersrenter's insurance...personal property and improvements covered named perils HO-5 - answersopen perils policy on home and personal property HO-6 - answerstown home and condo named perils policy...owner only needs to insure the interior HO-8 - answersWORST POLICY---Named perils on home and belongings but only 10 pe...

Risk - answersChance or Uncertainty of a Loss Peril - answersPossible cause of a loss 2 Years - answersThe Commissioner of insurance is appointed by the governor for a term of ______ ending on February 1 of each odd-numbered year? 5 Years - answersThe Commissioner of insurance MUST have ________ of experience in business or government. $50,000 - answersThe Commissioner of insurance must provide a __________ surety bond. (A surety bond guarantees performance) $500,000 - answersThe ...

1. Which of the following statements concerning the types of Homeowner's policies is correct? a. HO-2 and HO-3 differ primarily with respect to coverage for personal property b. HO-4 provides all-risk coverage for personal property of tenants c. HO-6 provides coverage for the insured's interest in additions, alterations and improvements made to a condominium unit d. HO-8 is designed for high-value dwellings for which the owner wants broader coverage than is available under HO-3c - an...

what are four basic types of building construction: - answersframe masonry veneer masonry superior (noncombustible or fire-resistive) what are the three types of superior construction? - answersnoncombustible—The exterior walls, floors, and roof are constructed of, and supported by, metal, cement, or other noncombustible materials. masonry noncombustible—The exterior walls are constructed of masonry materials, and the floors and roof are constructed of metal or other noncombustible ...

In an auto policy that has split limits of 50/100/75, what does the "75" represent? the maximum amount that will be paid to any one injured person the maximum sum the insurer will pay for injuries to other people and property damage to other cars or property the maximum amount the insurer will pay for damage to other cars or property the maximum sum the insurer will pay to all injured persons - answersthe maximum amount the insurer will pay for damage to other cars or property ...

what are the common policy provisions hint: DICED - answersdeclarations insuring agreement(s) exclusions conditions definitions the declaration page is also know as the __________ page - answersinformation what page of the policy is the declarations page found? - answersthe front page what all is listed on the declarations page? - answersname and address of the insured or the business type of business organization (e.g., partnership or corporation) policy period policy limits ...

What is the legal concept underlying insurance contracts that requires that the insured or policy owner has to suffer financially or be harmed in another way if a loss occurs in order for insurance to be issued? - answersInsurable interest The type of damages that can be awarded in a liability suit to pay for a loss or injury that is a direct consequence of the tort, but not a financial loss, is called: - answersGeneral damages All of the following are forms of liability recognized by the ...