Property and casual Study guides, Class notes & Summaries

2 reasons - No Flood - Catastophic, adverse selection Watercraft Policy - Open cockpit, 26 feet or less in length Absolute Liabilty - Strong Liklihood of harming others Intervening Cause - Disruption in chain of events Negligence - LBPD - Legal Duty Owed, Breach of Legal Duty, Proximate Cause, and Damages. 25 mph - What is the maximum horesepower a boat can have and be covered under a H.O. Policy Personal Liability Coverage - Single Occurrence Limit - $100,000 - non business activities De...

Ohio Property and Casualty Exam Questions & Answers 2023-24 What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...

The required minimum amounts of liability car insurance coverage in Maine Answer - 50/100/25 Would a ferry crashing between the coast of Maine and Nova Scotia a be covered by the personal auto insurance policy Answer - No Limit on Theft of Unscheduled Jewelry Answer - $1500 When insurer and insured cannot agree on loss Answer - they each hire an appraiser If the appraisers cannot agree on loss Answer - they select an umpire If the appraisers cannot agree on an umpire Answer - a ju...

Oklahoma Property and Casualty Exam Questions and Answers 2024 May

Law of Large Numbers CORRECT ANSWER Recognizes that as the number of exposure units increases, the more likely it is to predict accurately the expected outcome. What must an insurance producer do to apply for a nonresident license in Pennsylvania? CORRECT ANSWER Prove that their license is in good standing in their home state Which best describes the responsibilities an agent owes when they sell a policy? CORRECT ANSWER To provide the agreed-upon insurance and to place coverage with a solv...

GEORGIA PROPERTY AND CASUALTY INSUARANCE EXAMS 2024 WITH ACTUAL CORRECT QUUESTIONS AND VERIFIED DETAILED RATIONALES ANSWERS 2024(NEWEST) ALREADY GRADED A+

FLORIDA PROPERTY & CASUALTY INSURANCE, GLOSSARY FOR 220 LICENSE, FLORIDA 2-20 AGENTS LICENSE EXAMS TEST BANK ALL QUESTIONS AND CORRECT DETAILED ANSWERS TOP RATED VERSION FOR ALREADY A GRADED HIGHLY RECOMMENDED BY EXPERTS | NEW AND REVISED

Oklahoma Property and Casualty Exam Questions and Answers (Latest Update 2024)