Propert and Casualty (Practice exam 1)

a tornado that destroys property would be considered

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negligence can be defined as

which of the following is not covered by homeowners liability insurance ?

the term which describes the act of withholding material that would be crucial to an underwriting decision known as

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before flood coverage goes into effect, how long is the waiting period after the application has been accepted?

under a personal auto policy, in which of the following locations would an auto primarily garaged in texas be covered?

all of the following statements are true about coinsurance are true EXCEPT

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in return for a payment of premium, an insurance company must

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conditions or events that increase the likelihood of an insured loss occurring are knows as

the policy conditions define

the section of a property policy that lists the policy terms, amount of insurance and premium is the

the fair credit reporting act (FCRA)

which additional coverage is provided by the broad causes of loss form

concerning the business of insurance a hazard is

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for a contract to be enforceable by law, the contracts purpose must be

rental reimbursement coverage is only available when the policy includes

the criminal act of forced entry into the premises of another by an individual or individuals with felonious intent is

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concerning the personal auto policy, in the event of a loss or claim, the policy owner is required to do all, except

an individual who is not an end as an insured in a policy’s declaration is protected by the policy is called the

under the broad form (DP- 2) policy’s falling object peril, which of the following would be covered?

the term that included damage where the insured peril was the proximate cause of loss is

under personal umbrella policythe amount paid by the policy owner for certain losses not covered by the primary coverage

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to purchase insurance, the policy owner must have a financial interest in the property being insured. what is it called

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all of the following are conditions typically found in the insurance EXCEPT

x

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the duties of the insurer contained in property policy conditions included all of the following except

what type of information would be included in a policy’s insuring agreement?

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the type of insurance policy that insures against all risks of loss not specifically excluded by the policy is known as

what procedure is followed when a dispute arises about settling a loss in a “fender bender” between two vehicles

in a property policy, insurable interest must be proven

if a policyholder has an umbrella liability policy in addition to their personal auto, which would be the underlying one

the section of a policy that clarifies the term in the policy is the

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under a dwelling policy special form coverage A - dwelling, what type of property would not be covered?

who are the parties to a bond?

all of the following are contained in the declarations section of a policy except the

who is required to fill out a notice of claim form?

the pro rats liability clause is intended to protect the principle of

before an insurance company will pay any loss under a policy, what is typically required from the policy holder?

which of the following is NOT considered an essential element of an insurance contract ?

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insurance is a contract through which one seeks to protect another form

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in a cases of loss, the indemnity provision in an insurance policy