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Property And Casualty Insurance License Questions and Answers (Q&A)

L.Steven
Answered: Jan 07, 2018
Insurance agents are special people who sell their insurance policies to different people. They are the spokesperson of different insurance companies/ they portray their policies in a positive...Read More

3 Answers

421 views
John Smith
Answered: Oct 26, 2020
Writing the provisions of a customer s policy

B is correct. Agents have a responsibility to interact effectively with customers in regard to the insurance transaction, but they do not...Read More

1 Answer

360 views
John Smith
Answered: Oct 26, 2020
Deductibles apply separately for each applicable coverage unless the deductibles are shown as "combined" for any two or more coverages.

A is correct. Deductibles apply separately for each...Read More

1 Answer

325 views
John Smith
Answered: Oct 26, 2020

168 hours. Under this endorsement, all earthquake shocks or volcanic eruptions that occur within any 168-hour period constitute a single earthquake or volcanic eruption.

2 Answers

319 views
John Smith
Answered: Oct 26, 2020
LaTonya
First City Bank

A and D are correct. Insurable interest exists when there is an actual economic interest in the safety or preservation of the subject of the insurance from loss...Read More

2 Answers

303 views
F. Ray, Student
Answered: Dec 05, 2018
Companies will often pay up to $10,000 to remove pollution if it is covered by a “covered peril”. A covered peril is just something that the insurance company covers. If it the...Read More

3 Answers

296 views
John Smith
Answered: Oct 26, 2020
A promise to pay for certain losses if they occur

C is correct. Consideration is the thing of value exchanged under a contract. The insureds consideration is the premium; in return, the...Read More

1 Answer

292 views
Fsspc
Answered: Oct 26, 2020
Damage to or loss of the insured ship

Ocean marine protection and indemnity (P&I) coverage provides liability coverage for job-related injuries to sailors, cargo lost or damaged through...Read More

1 Answer

287 views
John Smith
Answered: Oct 26, 2020
It covers bonds, securities, and checks when they are sent by first class or certified mail.
2. Losses are valued on the basis of the property s actual value, but not less than its market value,...Read More

1 Answer

284 views
Wyatt Williams
Answered: Oct 26, 2020
A principal

Fidelity bonds are contracts between three parties. The employees who are required to act honestly are the principals. The surety or guarantor, which is usually an insurance...Read More

1 Answer

281 views
John Smith
Answered: Oct 26, 2020
The time it takes to repair, rebuild, or restore damaged property

The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss...Read More

1 Answer

272 views
John Smith
Answered: Oct 26, 2020
An evaluation of the characteristics of the individual risk

A is correct. This is the oldest form of rating. The premium is determined by considering the individual risk. No books or...Read More

3 Answers

271 views
John Smith
Answered: Oct 26, 2020
Absolute liability is imposed by law on those participating in certain activities that are considered to be especially hazardous. Individuals involved in such operations can be held liable for...Read More

1 Answer

270 views
John Smith
Answered: Oct 26, 2020
States that the more examples used to develop a statistic, the more reliable the statistic will be.

C is correct. The law of large numbers says that the more examples used to develop a...Read More

2 Answers

261 views
John Smith
Answered: Oct 26, 2020
The comprehensive form (ho-5) only-answer c is correct. the comprehensive form (ho-5) is the only homeowners policy that insures loss of personal property items by what is known as mysterious...Read More

1 Answer

261 views

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