Pa property and casualty Study guides, Class notes & Summaries

PA Property and Casualty License PractiAn exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. - ANSWER an Earth movement exclusion An exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of the fact that the individual did not maintain the property. - ANSWER Neglect exclusion Which Home Owner's form covers dama...

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Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions Exam FX (PA Property and Casualty - Ch. 1 General Insurance) with Complete Solutions Insurance Transactions include what 4 tactics - ANSWER-Solicitation Negotiation Sale Advising 2 types of Risk - ANSWER-1. Pure 2. Speculative Pure Risk Definition - ANSWER-A risk that can only can result in loss or no change Spec...

PSI PA Property and Casualty Exam Guide Accurate 10Broker - ANSWER According to the insurance law, who is the principal? 90 days - ANSWER An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? a temporary license - ANSWER issued for 180 days for surviving spouse, surviving inactive officer or partner, legal representative. Can be used upon death or incompetency of producer, or when individua...

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Insurance Transactions include what 4 tactics CORRECT ANSWER Solicitation Negotiation Sale Advising 2 types of Risk CORRECT ANSWER 1. Pure 2. Speculative Pure Risk Definition CORRECT ANSWER A risk that can only can result in loss or no change Speculative Risk Definition CORRECT ANSWER A risk that can result in either loss or gain What is the only type of risk insurance companies are willing to accept? CORRECT ANSWER Pure Risk Exposure Definition CORRECT ANSWER A unit of measu...

Executing the insurance laws of pA is whose responsibility? - correct answer Department of insurance In PA financial responsibility requires the ability of the insured to pay how much damage to the property of others from any single accident? - correct answer $5,000 because of damage to property of others in any one accident A policy covering commercial risks is subject to midterm cancellation for non-payment of premium upon how many days written notice? - correct answer 15 days A writt...

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