DP3 Study guides, Class notes & Summaries

State Farm P/C 7&8 Questions already solved A+ graded 2023 $43,264 - correct answer An insured purchased a dwelling policy with $40,000 of coverage. The insured also purchased an automatic increase in insurance endorsement that increases the face amount of the policy by 4% each year. What will the coverage amount be when the insured pays the renewal premium for the third year the policy is in effect? HO-3 - correct answer Which one of the following homeowners forms provides open peri...

Insuring Agreement - ANSWER-company's obligation to pay, includes the perils and coverage for specific or named peril policies Exclusions - ANSWER-what the policy will not pay for Definitions - ANSWER-names of the persons insured in addition to the named insured are listed here, along with any other (blank) of terms in the policy Additional Coverage - ANSWER-coverages under a policy that are provided by the insurer at no extra cost Casualty Policies - ANSWER-defense costs over and a...

TX Insurance Exam Practice Questions and Answers 100% Pass Extended Coverage Perils Wind, Civil Commotion, Smoke, Hail, Aircraft, Vehicles, Volcanos, Explosion, Riot WC SHAVVER Perils on an Unendorsed DP1 Policy Fire, Lightening, Internal Explosion Coverage amount for Trees and Shrubs on a DP1 policy 0 Part of the Policy that lists the insured's limits Declarations page Subrogation is listed in what part of the contract Conditions Part of the contract that tells you what is not covered Exc...

Utmost Good Faith - Insurance can only work when the parties to the contract are completely honest with each other. That's why insurance contracts are what kind of contracts? Family, Friends, or a primarily a personal contract - An agent will violate the prohibition against controlled business is she sells most of her insurance polices to whom It excludes coverage even if a weather-related peril like rain leads to a mudslide. - Heavy rains cause a mudslide to weaken the foundation of Amy'...

An endorsement is available for hired and nonowned auto on BOP liability... A. Only if the insured does not have commercial auto coverage B. In addition to commercial auto coverage C. Only if the insured has 4 or more employees D. Never A The Mail Coverage Form is always written on a reporting form basis; after the end of each reporting period shown in the declarations, reports are due within... A. 45 days B. 15 days C. 30 days D. 31 days C The inland marine coverage form...

Insuring Agreement - Correct Answer-company's obligation to pay, includes the perils and coverage for specific or named peril policies Exclusions - Correct Answer-what the policy will not pay for Definitions - Correct Answer-names of the persons insured in addition to the named insured are listed here, along with any other (blank) of terms in the policy Additional Coverage - Correct Answer-coverages under a policy that are provided by the insurer at no extra cost Casualty Policies - Corr...

Insuring Agreement company's obligation to pay, includes the perils and coverage for specific or named peril policies Exclusions what the policy will not pay for Definitions names of the persons insured in addition to the named insured are listed here, along with any other (blank) of terms in the policy Additional Coverage coverages under a policy that are provided by the insurer at no extra cost Casualty Policies defense costs over and above liability limits, p...

California Property and Casualty Insurance Test Pool Questions and answers, rated A The term "Time element Coverage" is used when the amount of loss depends on what? 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 might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,,...

Insuring Agreement - ANSWER-company's obligation to pay, includes the perils and coverage for specific or named peril policies Exclusions - ANSWER-what the policy will not pay for Definitions - ANSWER-names of the persons insured in addition to the named insured are listed here, along with any other (blank) of terms in the policy Additional Coverage - ANSWER-coverages under a policy that are provided by the insurer at no extra cost Casualty Policies - ANSWER-defense costs over and a...

ADP/2024 P1 summary - notes of lectures, questions given in lectures presented with self-formulated answers, and required reading papers and their summaries