Acronyms

Question 1

CALC

Answer 1

Refers to contract law; Conisderation, agreement, legal purpose, Competent parties

Question 2

STARR

Answer 2

Refers to risk management techniques; Sharing, Transferring, Avoiding, Retaining, Reducing

Question 3

DICED

Answer 3

Refers to the parts of an insurance policy; Declarations, Insuring agreement, Condition, Exclusions, Definitions.

Question 4

FLR

Answer 4

SFP coverages; Fire, lightning, removal

Question 5

FLI

Answer 5

DP-1 coverage; Fire, Lightning, Internal explosion

Question 6

REV CV SHAW (also referred to as EC, extended coverage)

Answer 6

DP-2 (or extended DP-1); Riot, explosion, vehicles, civil commotion, volcanic eruption, smoke damage, hail, aircraft, windstorm

Question 7

REV

Answer 7

Riot, explosion, vehicles

Question 8

CV

Answer 8

civil commotion, volcanic eruption

Question 9

SHAW

Answer 9

smoke, hail, aircraft, windstorm

Question 10

VMM

Answer 10

Vandalism and malicious mischief

Question 11

The-Cawffg-vmm

Answer 11

OTC specific perils; Theft, hail, earthquake, civil commotion, animal encounter, windstorm, falling objects, fire, glass breakage, vandalism or malicous mischief.

Question 12

Collision perils- THE

Answer 12

Theft, hail, earthquake

Question 13

Collision peril- CAWFFG

Answer 13

civil commotion, animal encounter, windstorm, falling objects, fire, glass breakage

Question 14

Collision peril- VMM

Answer 14

vandalism and malicious mischief

Question 15

FIRM

Answer 15

Flood insurance rate maps

Question 16

E.C.

Answer 16

elevation certificate

Question 17

FEMA

Answer 17

Federal emergency management system