Policy Application

Property and Casualty Policy Provisions and Contract Law

Quiz
•
Business
•
Professional Development
•
Hard
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A document used to file a claim for insurance benefits.
The form used by an applicant to request insurance coverage, providing necessary information for underwriting.
A summary of the insurance policy terms and conditions.
A checklist for the insurance agent to verify client information.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Appraisal
A method to assess the performance of employees.
A process to determine the value of property or the extent of damage, often used when the insured and insurer disagree on the amount of loss.
A technique for evaluating customer satisfaction.
A strategy for managing financial investments.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Declarations
Part of an insurance policy that provides basic information about the policyholder and the insurance coverage.
A section of the policy that outlines the exclusions and limitations of coverage.
The part of the policy that details the claims process and procedures.
A summary of the financial performance of the insurance company.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Insuring agreement
The section of an insurance policy that outlines the coverage provided and the risks insured against.
A clause that specifies the premium amount to be paid by the insured.
A provision that allows the insurer to cancel the policy at any time.
A statement detailing the exclusions and limitations of the policy.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Conditions
Provisions in the policy that qualify or place limitations on the insurer's promise to pay or perform.
Factors that determine the eligibility of a claim under the policy.
Requirements that must be met for the policy to be valid.
Statements that outline the benefits provided by the insurer.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Exclusions
Specific conditions or circumstances for which the policy does not provide coverage.
General benefits provided by the policy.
Additional services included in the policy.
Conditions that enhance the coverage of the policy.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Terrorism Risk Insurance Act (TRIA)
A federal law that provides a backstop for insurance claims related to acts of terrorism.
A state law regulating local law enforcement agencies.
An international treaty on counter-terrorism measures.
A private insurance policy for businesses against natural disasters.
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