Property and Casualty Exam Questions and Answers Rated A

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Property and Casualty Exam Questions and Answers Rated A The one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but... without a chance for gain or profit ✔✔true which of the following coverages does an open peril policy provide? ✔✔perils other than those specifically named as being excluded determine the actual cash value in the following situation: original price of office equiptment when purchased 8 years ago- 9,000. depreciated amount at time of fire-5,000 current replacement cost 12,000 ✔✔7,000 liquor liability ✔✔need for a dram shot, liquor, or package store inherent vice or defect ✔✔iron rusting, milk going sour, rubber breaking down are all inherent vices how is hitting an animal on the road covered? ✔✔other than collision otc medicare supplement insurance ✔✔aka medical gap insurance. must include core benefits ordinance or law ✔✔an endorsement for building code upgrades loss sustained/discovery forms under crime coverage ✔✔loss is for later than the policy period. discovery is for before the policy (loss is later, discovery before) designated brush fire or civil unrest areas ✔✔qualifying areas under the fair plan stop loss provision ✔✔used in health insurance to limit the maximum amount of money the insured would have to pay out of pocket on a health claim in any particular claim shortages of inventory ✔✔under crime insurance the employee dishonesty endorsement never covers can the mortgagee still collect if the insured burns their house down ✔✔yes, the mortgage clause is a standard provision otc covers ✔✔earthquake, flood, hail, theft, hitting an animal, gunshots (no collision or upset) law of large numbers ✔✔the greater the number of insured the more accurately the prediction where does a driver have coverage? ✔✔U.S. Canada and US possessions eg puerto rico, guam [Show More]

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