Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link What is a common term used to describe liability losses? A. actual cash value losses B. first party losses C. second party losses D. third party losses Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Who may cancel an insurance policy, assuming cancellation is not contrary to the law? A. the insured B. the insurance company C. either A or B D. neither A nor B Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link An insured is notified the insurance company is unwilling to provide coverage after the present policy expires. This is A. nonrenewal B. flat cancellation C. permitted only if the insured agrees D. permitted unless the insured is unable to obtain coverage elsewhere Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link To have an insurable interest, an individual must A. have a chance of suffering a financial loss B. own the property C. enter into an insurance contract D. agree to subrogate recovery rights Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which of the following is true concerning insurable interest in a policy providing property insurance? A. Insurable interest only exists if you own the property B. Only one party can have insurable interest in any one property C. Insurable interest must exist at the time of loss D. Unlimited insurable interest exists in property for which there is sentimental value Submit Answer