Finance

Which of the following statements regarding the Coverage E limit in th

Which of the following statements regarding the Coverage E limit in the homeowners policy is true? A) It is an aggregate limit, and once the amount paid for one or more claims reaches the limit, no additional coverage is provided. B) The limit applies only if a court orders the insured to pay—there is no […]

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Date: September 19th, 2020

Which of the following statements is (are) true concerning the home bu

Which of the following statements is (are) true concerning the home business insurance coverage endorsement? I. It increases the coverage on business personal property at the insured residence from $2,500 to the Coverage C limit. II. It excludes coverage for liability arising out of the home business. A) I only B) II only C) both […]

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Date: September 19th, 2020

John purchased an unendorsed Homeowners 3 policy. The coverage will ex

John purchased an unendorsed Homeowners 3 policy. The coverage will expire next month. Which of the following changes will lower the premium that John will pay? A) reducing the deductible B) adding a replacement cost endorsement for personal property C) switching to an HO-2 policy D) adding a personal injury endorsement     ANSWER Answer: […]

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Date: September 19th, 2020

Which of the following statements regarding Section II conditions unde

Which of the following statements regarding Section II conditions under the homeowners policy is true? A) Other insurance is handled on a pro rata basis. B) Under no circumstances may the insured bring a lawsuit against the insurer. C) The liability limit is the same regardless of the number of persons injured in a covered […]

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Date: September 19th, 2020

Which of the following statements is (are) true concerning the use of

Which of the following statements is (are) true concerning the use of an individual’s credit history as an insurance rating factor? I. Individuals with poor credit histories, as a group, generally file fewer homeowners claims than do individuals with good credit histories. II. A poor credit history can be improved over time, allowing for the […]

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Date: September 19th, 2020