Insurance practice
How long is the policy for an nfid flood insurance
1 year
The regular national flood insurance program would insure an eligible single-family dwelling for up to
250,000
How much coverage is provided under HO for theft or unauthorized use of a credit card?
500
Which of the following would not be considered an insured under a homeowners policy?
A divorced spouse living in another state
Which of the following would be required to be licensed as an insurance producer
A salaried employee who advertises and solicited insurance
Which of the following could be coveted by an HO policy
An oriental rug in an on-premises apartment
Representations are written or oral statements made by the applicant that are
Considered to be true to the best of the applicant's knowledge
In Michigan the states continuing education requirement
Consists of completing 24 hours of CE every 2 yeats
When would a misrepresentation of the insurance application be considered fraud
If it is intentional and material
An insurer or producer, upon making a declination of insurance, must
Inform the applicant of each specific reason
Which of the following, upon conviction, Carrie's a fine up to 2,000 for each violation
Misrepresenting the terms of a policy
Which policy consists of the declarations and conditions, endorsements, and other attachments applicable to a single line of insurance?
Mono line
Which of the following covers a carrier for liability for loss to cargo while it is being transported in a truck?
Motor truck cargo policy
The livestock coverage form covers which of the following losses?
Named peril coverage for death of livestock
When an insurance policy does not offer a continuation or replacement as it's expiration date, it is considered a
Non renewal
The extra expense coverage form provides
Payment for unforeseen expenses an insured may incur while the business is shut down following a property damage loss
In Michigan, a temporary license may be issued for any of the following reasons except
Retirement
Under a dwelling policy, what are the factors in determining a loss
The policy limit, the amount reflecting the insureds interest in the property at time of loss, the amount necessary to repair or replace the property
In addition to the effective date of termination of coverage, a termination notice must contain
The specific reason or reasons for the termination
Trip transit
Type of insurance used to cover a single trip