Additional Flashcards

1
Q

Functional Replacement

A

Example: Replacing plaster walls with shertrock in an old house

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2
Q

Economic loss

A

Total estimated loss to person or business due to a loss

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3
Q

Morale

A

Indiffernce

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4
Q

Endorsement

A

Original policy has been changed

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5
Q

Amount of coverages

A

Dec page

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6
Q

Do policies cover slander

A

no

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7
Q

Risk Management

A

Identify, evaluate, selection

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8
Q

insurable interest” must exist at what time

A

time of loss

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9
Q

Time for Lawsuit in SFP

A

3 yr

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10
Q

SFP does not cover wind damage

A

SFP does not cover wind damage

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11
Q

Failure to pay premium cancellation days:

A

10

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12
Q

Standard Fire Policy, as originally written, had how many lines

A

165

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13
Q

Occupancy in the Dwelling Forms

A

a. The Dwelling policy will allow up to four families in a single dwelling (incorrect)

b. The Dwelling policy will allow four apartments in single dwelling

c. The Dwelling policy will allow up to five roomers or boarders in a single dwelling

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14
Q

Personal Auto Policy is referred to as a _______ policy

A

per occurrence

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15
Q

Personal Auto Policy (PAP) may be used to insure an auto if the lease is for at least ________.

A

6 continuous month

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16
Q

Reasons for cancellation of the PAP (in North Carolina) may be for

A

nonpayment of premiums

named insured becomes a nonresident of North Carolina

Producer who wrote the business is terminated for any reason other than the quality of the insured’s written

17
Q

Part D of the Personal Auto Policy (Damage to You Auto) will NOT cover

A

Loss due to electrical breakdown.

18
Q

The Personal Auto Policy (PAP) will pay up to $____ a day for loss of earnings by the insured because of attendance at hearings or trials

A

200

19
Q

Without a deduction for depreciation

A

Replacement cost

20
Q

Adjusters Loss Reports contain all of the following items

A

a. Policy Inception date

b. Policy Expiration date

d. Policy Deductible

21
Q

Emergency first aid coverage

A

200

22
Q

$$$ Special Damages $$$

A

$$$ Special Damages $$$

23
Q

Continual rental

A

6 mns

24
Q

Homeowners grave markers, etc.

A

5k

25
Q

No limit on FIRE damage to GUNS

A

No limit on FIRE damage to GUNS

26
Q

Additions are AUTOMATICALLY covered

A

Additions are AUTOMATICALLY covered

27
Q

Personal Injury

A

slander, defamation of character, etc. NOT BODILY INJURY