1 Solutions / 100% Correct / Already Graded
Quiz____?The insurer and insured agree to a specific value of insured item - Answer✓✓ Agreed Value Policies
Quiz____?Someone who has care, custody or control of another's property - Answer✓✓ Bailee
Quiz____?Claim filed by policy holder against his _ - Answer✓✓ First Party Claim
Quiz____?When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI - 1 / 4
2 Answer✓✓ Negligent Entrustment
Quiz____?Hazard that results from a conscious decision made by an insured to participate in a manner or behavior more likely to result in a loss because they have insurance - Answer✓✓ Moral Hazard
Quiz____?Used to provide temporary insurance coverage until an insurance policy can be written - Answer✓✓ Binder
Quiz____?Required by lenders to guarantee that outstanding loans against a job are paid upon completion - Answer✓✓ Completion Bonds
Quiz____?The section of an insurance policy identifying the insured, endorsements, coverages, limits, and premiums - Answer✓✓ 2 / 4
3 Declarations
Quiz____?Policyholder cannot transfer the policy to someone else without written permission from their insurance company - Answer✓✓ Assignment
Quiz____?An instance, behavior or environment that increases the likelihood of a loss on an insured item - Answer✓✓ Hazard
Quiz____?Actual cause or source of an incidence of destruction, injury, or loss - Answer✓✓ Peril
Quiz____?An insurance company organized and domiciled outside the US - Answer✓✓ Alien
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4 Quiz____?When there is an unbroken chain of events between an occurrence and a loss, then the loss is part of the original occurrence - Answer✓✓ Proximate Cause
Quiz____?Is proximate cause of all subsequent damages - Answer✓✓ Original Occurance
Quiz____?An individual who contracts with an adjusting firm as an independent contractor and handles claims for the insurance companies - Answer✓✓ Independent Adjuster
Quiz____?Action or practice of the insured party is permitted to continue because any defense against a continuation of said action or practice has been waived by the insurer - Answer✓✓ Estoppel
Quiz____?
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