Texas Exam 23

The first effort to provide insurance for land transportation risks involved an extension of ocean marine coverage known as the: Answer Choices: Select the Correct Answer "Inland waters" condition. "Warehouse to warehouse" clause. "Overland rail" extension. "Overland transit" clause.

"Warehouse to warehouse" clause

What is the minimum weekly income benefit payable under the Texas Workers Compensation law? Answer Choices: Select the Correct Answer 15% of the state average weekly wage. 25% of the state average weekly wage. 66.66% of the employee's average weekly wage. 15% of the employee's average weekly wage.

15% of the state average weekly wage

The ISO standardized Businessowners policy provide removal coverage when property is removed from the premises to protect it from loss. The coverage will apply at other locations for up to: Answer Choices: Select the Correct Answer 10 days. 20 days. 60 days. 30 days.

30 days

The liberalization clause of a Businessowners policy automatically applies favorable expansions of coverage, for which a premium is not charged if the changes are made during the policy period or within ______ prior to the effective date of the policy. Answer Choices: Select the Correct Answer 45 days Six months Three months 30 days

45 days

The broad and special dwelling forms (DP-2 and DP-3) will provide replacement cost coverage for buildings if the amount of insurance written on the building is at least: Answer Choices: Select the Correct Answer 80% of the full replacement cost at the time of the loss. 60% of the full replacement cost at the time of the loss. 90% of the full replacement cost at the time of the loss. 100% of the full replacement cost at the time of the loss.

80% of the full replacement cost at the time of the loss

Under the discovery clause in a loss sustained bond, which of the following is covered? Answer Choices: Select the Correct Answer A loss discovered up to one year after the policy expired but that occurred during the policy period. A loss that is discovered after the policy has expired. A loss that occurred prior to the inception date of the policy. A loss that occurred during the policy period but was not discovered until five years after the expiration date.

A loss discovered up to one year after the policy expired but that occurred during the policy period

Commercial Inland coverages can be written as a stand alone policy and not included in the Commercial Package Policy (CPP), this would be called: Answer Choices: Select the Correct Answer A monoline policy A BOP An endorsement An individual policy

A monoline policy

All of the following may work as licensed adjusters in Texas, but are exempt from taking the state licensing exam, EXCEPT: Answer Choices: Select the Correct Answer A person holding a CPCU designation. A person whose Texas adjuster license has been expired for 8 months. A person how has received an Associate in Claims (AIC) designation. A previously licensed Texas adjuster whose license has been expired for 15 months.

A previously licensed Texas adjuster whose license has been expired for 15 months.

Which of the following would be eligible for coverage under a Businessowners policy? Answer Choices: Select the Correct Answer A small retail store. A neighborhood tavern. An auto body shop. A branch bank.

A small retail store

Lara is moving to Europe for two years in order to take advantage of a promotion at her job. She will not take her 4-seat propeller plane with her. What type of Aviation policy would be best for Lara to purchase for coverage on her plane while it is in storage and she is in Europe? Answer Choices: Select the Correct Answer All Risks - Not in Motion All Risks - Ground and Fight Admitted Aircraft Liability Hangarkeepers Liability

All Risks - Not in Motion

Who signs the Declarations page on an Equipment Breakdown policy? Answer Choices: Select the Correct Answer An Authorized Representative The Named Insured Two officers of the company An Authorized Inspector

An Authorized Representative

Which of the following is the type of policy that is written to cover the insured for occurrences in which they have become legally liable, but only for those exposures covered on their underlying liability policy? Answer Choices: Select the Correct Answer A excess liability policy that is written as a self-contained policy. An excess liability policy that is written on a follow-form basis. An umbrella policy. A personal liability supplement.

An excess liability policy that is written on a follow-form basis

Which of the following perils would NOT be covered by a Commercial Property policy with a Causes of Loss - Special Form attached to the Building and Personal Property Coverage form? Answer Choices: Select the Correct Answer Carolyn's Fine Gifts must shut down for a month to repair flood damage. When a riot breaks out in the town square, Bonnie's Boutique is looted and vandalized in the commotion. A tornado whips through town, leveling a warehouse belonging to Johnson's Industries. Allen's Appliances loses an entire warehouse in a fire caused by a lightning strike at a nearby power plant.

Carolyn's Fine Gifts must shut down for a month to repair flood damage

On December 31st of each year, the Texas Department of Insurance computes the reinsurance reserves for all unexpired risks of domestic, foreign and alien insurers doing business in Texas. All of the following types of insurance are EXEMPT from these calculations, EXCEPT:

Commercial property insurance

Contractor Joe has borrowed funds from a bank in order to finance a construction project. A surety bond which guarantees the lender that the contractor will use the borrowed funds to finish the contract free and clear of liens is known as a: Answer Choices: Select the Correct Answer Bid bond. Performance bond. Labor and materials bond. Completion bond.

Completion bond

Which of the following statements concerning installation floaters is not true? Answer Choices: Select the Correct Answer The form covers property sold by the insured and transported to another location to be installed. Coverage is written on a named perils basis only. "Hoisting" coverage is a feature often written into Installation Floaters. Coverage may be written on a monthly reporting basis.

Coverage is written on a named perils basis only

The insured's business is covered under a jewelers block policy. The owner's wife decides to wear an expensive piece of jewelry to a party that is for sale by the business. In case of a loss, what will the insurer do? Answer Choices: Select the Correct Answer Deny the claim because of an exclusion Pay the claim Pay 50% of the claim Require evidence that she was modeling the jewelry

Deny the claim because of an exclusion

An adjuster has procured a photograph of the scene of an accident on a claim that he/she is adjusting. This photograph is placed into the claims file as which of the following types of evidence? Answer Choices: Select the Correct Answer Criminal Real Demonstrative Documentary

Documentary

The conditions section of an insurance policy sets forth the: Answer Choices: Select the Correct Answer Duties of the insured and the insurance company. Limits of liability under the policy. Coverages provided by the policy. Exclusions of coverage under the policy.

Duties of the insured and the insurance company

Name the coverage that applies to the extra cost the insured incurs to make temporary repairs and speed up the permanent repairs or replacement of damaged covered equipment under an Equipment Breakdown policy. Answer Choices: Select the Correct Answer Expediting expense coverage Extra expense coverage Removal expense coverage Contributing expense coverage

Expediting expense coverage

A department store has a large inventory of costume jewelry and watches. No single item is valued for more than $100.00. A customer steals most of the items and flees the scene. What theft coverage would be provided by an unendorsed ISO standardized BOP policy? Answer Choices: Select the Correct Answer $500 Full contents limit $2,500 No coverage for the theft of jewelry and watches

Full contents limit

Which of the following losses is NOT excluded under Part D of a standard Personal Auto policy? Answer Choices: Select the Correct Answer Glass breakage. Damage to equipment designed for the detection of radar. Loss caused by freezing of the cooling system. Loss of custom furnishings in a customized van.

Glass breakage

A church has had the woodwork in the building refinished and new stain and varnish has been applied. The workers placed the rags and brushes that were used to apply the varnish in a small closet and closed the door, creating the possibility of spontaneous combustion. Which of the following terms best describes this condition? Answer Choices: Select the Correct Answer Catastrophe. Hazard. Risk. Peril.

Hazard

The commercial inland marine coverage form known as the jewelers block excludes loss resulting from: I. Earthquake. II. Shortage found upon taking inventory. III. Unexplained disappearance.

I, II and III

The percentage of permanent impairment of the whole body resulting from a compensable injury is called a(n): Answer Choices: Select the Correct Answer Impairment rating. Compensation rating. Impairment percentage. Injury rating.

Impairment rating

The attempt to restore an insured to his or her previous financial condition before a loss occurred is BEST described as: Answer Choices: Select the Correct Answer Indemnification. Subrogation. Coinsurance. Self-insurance.

Indemnification

The perils insured against by a Homeowners policy are contained within the: Answer Choices: Select the Correct Answer Conditions. Insuring Agreements. Definitions. Declarations.

Insuring Agreements

Which of the following is not considered a "breakdown" under Equipment Breakdown coverage? Answer Choices: Select the Correct Answer Mechanical failure Rupture or bursting caused by centrifugal force Electrical failure Lack of power, light, heat, steam or refrigeration

Lack of power, light, heat, steam or refrigeration

Which of the following is not essential in determining if a salvage award is to be made? Answer Choices: Select the Correct Answer Life-saving efforts. The effort must be successful. The salvage service must be voluntary. The property involved must be in peril from some hazard.

Life-saving efforts

All of the following are examples of unfair claim practices, EXCEPT: Answer Choices: Select the Correct Answer Making claim payments and stating the coverage under which payment is made. Failing to affirm or deny coverage of claims within a reasonable period of time after receipt of a properly executed proof of loss. Attempting to settle claims on the basis of an application that was altered without notice to or the knowledge or consent of the insured. Failing to promptly provide a reasonable explanation of the basis in the policy for denial of a claim or offer a compromise settlement.

Making claim payments and stating the coverage under which payment is made

Many states amend property insurance coverage additions and extensions by statute due to insufficient coverage amounts or time limits. All of the following are property insurance additions or extensions that are frequently amended by state statute, EXCEPT: Answer Choices: Select the Correct Answer Newly Acquired Property. Debris Removal. Other Structures. Ordinance or Law.

Other Structures

The Businessowners policy provides some additional coverages if they are listed on the declarations page and an additional premium is paid. All of the following are included in these additional coverages, EXCEPT: Answer Choices: Select the Correct Answer Exterior glass. Outdoor fixtures. Money and securities. Burglary and robbery.

Outdoor fixtures

Which of the following would be considered "general damages" that could be awarded to a plaintiff in a negligence case? Answer Choices: Select the Correct Answer Lost wages. Medical expenses. Pain and suffering. Vocational rehabilitation.

Pain and suffering

The insured has her fur coat specifically covered under a Personal Articles policy. It has been stored in a plastic garment bag in her closet during the good weather months. She decides to take the coat out and hang it outside to freshen up. The next door neighbor's dog sees the coat and attacks it and ruins the garment. The insurer will: Answer Choices: Select the Correct Answer Decline the claim because damage by domestic animals is excluded. Decline the claim because damage by any animal is excluded. Pay the claim because the loss is not excluded. Deny the claim because of neglect on the part of the insured.

Pay the claim because the loss is not excluded

All of the following are violations of "good faith duty" by the adjuster, EXCEPT: Answer Choices: Select the Correct Answer Paying a settlement within 30 days after an agreement is reduced to writing. Denying coverage or attempting to settle a claim on the basis of an application which the insurer knows was altered without notice to, or knowledge or consent of, the insured. Failing to pay the amount of any claim due any person insured by the contract within 60 days after receipt of satisfactory proof of loss from the claimant when such failure is arbitrary, capricious, or without probable cause. Misrepresenting pertinent facts or insurance policy provisions relating to any coverages at issue.

Paying a settlement within 30 days after an agreement is reduced to writing

Which of the following coverage parts would be eligible for inclusion in a Commercial Package policy? Answer Choices: Select the Correct Answer Businessowners coverage. Professional liability coverage. Workers' compensation coverage. Directors & Officers (D&O) liability coverage.

Professional liability coverage

All of the following would be covered under a Builders Risk Policy, EXCEPT: Answer Choices: Select the Correct Answer Prospective buyer. Contractor. Owner. Sub-contractor.

Prospective buyer

The ISO standardized Businessowners policy provides a limit of $2,500 for Fire Department Service charges. This limit applies: Answer Choices: Select the Correct Answer Per policy year. To one specified location. Regardless of the number of services or number of buildings. Coverage is limited as to the number of fire departments that respond.

Regardless of the number of services or number of buildings

Blake has been planning to quit his job as a clerk in a United States Court House and open an antique store. After doing some research and finding that antiques do not sell well, he decides to abandon the plan and stay on at the court house. Blake is practicing: Answer Choices: Select the Correct Answer Risk transference. Risk retention. Risk avoidance. Risk reduction.

Risk avoidance

Which of the following statements about risk is the most accurate? Answer Choices: Select the Correct Answer Risk can be retained, shared, transferred, avoided, or reduced. Risk is most properly assumed when loss potential is catastrophic. Risk is any characteristic or condition that increases the chance of loss. Total risk is reduced by the use of deductibles and insurance.

Risk can be retained, shared, transferred, avoided, or reduced

The purpose of the appraisal clause in a property insurance policy is to: Answer Choices: Select the Correct Answer Settle disputes concerning the amount of a loss. Determine who is liable for damages. Deny coverage. Obtain facts prior to filing a lawsuit.

Settle disputes concerning the amount of a loss

Katrina has her commercial building covered by a Commercial Package policy. Which if the following is the section within her policy where she would see the dimensions of her building listed? Answer Choices: Select the Correct Answer The Common policy declarations page of the CPP. The Commercial Property declarations page. The CPP conditions section. The Commercial Property conditions section.

The Commercial Property declarations page

Kathryn is covered under a property insurance broad cause of loss form. Which of the following statements is true for Kathryn? Answer Choices: Select the Correct Answer Kathryn is covered for all risks of loss. The burden of proof lies with the insurance company to prove that a cause of loss, experienced by Kathryn, is excluded from coverage. Kathryn is covered for only the perils of fire, lightning, and removal. The burden of proof lies with Kathryn to prove that a named peril in her policy caused her loss.

The burden of proof lies with Kathryn to prove that a named peril in her policy caused her loss

An insured is covered under an HO-3 form. If the insured hits his own house and also damages the garage and the attached fence with his vehicle, which of the damages would be covered? Answer Choices: Select the Correct Answer The damage to the house and garage only. The damage to the fence only. None of the damages would be covered because the insured's vehicle caused the damage. The damage to the house, garage and the fence would all be covered.

The damage to the house, garage and the fence would all be covered

The insured is covered under a BOP policy. Contents coverage is included. If the insured buys a separate piece of machinery and insures it separately, how will the BOP policy respond to a loss to this machinery? Answer Choices: Select the Correct Answer The equipment policy will be primary and the BOP will be excess if the separate policy does not provide adequate limits of coverage. The BOP would be primary and the separate policy would be excess. The BOP policy will not pay since the equipment is separately insured. Both will share in the loss on a pro/rata basis.

The equipment policy will be primary and the BOP will be excess if the separate policy does not provide adequate limits of coverage

Which of the following is generally not considered to be a legal defense against claims of negligence? Answer Choices: Select the Correct Answer The loss to the plaintiff was caused intentionally by the defendant. A state law gives specific immunity from liability to the defendant. An intervening cause was the proximate cause of the plaintiff's injury rather than the defendant's action (or inaction). The relevant statute of limitation for filing a lawsuit has expired.

The loss to the plaintiff was caused intentionally by the defendant

All of the following statements about the Standard Fire Policy are correct EXCEPT: Answer Choices: Select the Correct Answer The policy may be assigned without the consent of the insurer. The policy covers only direct loss from the covered peril. Indemnity is at actual cash value. Pro rata liability defines particular reimbursement when more than one insurer is involved in a claim.

The policy may be assigned without the consent of the insurer.

Which of the following best describes the purpose of the "insuring agreement" contained in an insurance policy? Answer Choices: Select the Correct Answer To the insurer's promise to pay in case of a loss. To identify the named insured who is bound by the contract. To explain the duties of the named insured in case of a loss. To set forth the conditions and exclusions.

To the insurer's promise to pay in case of a loss

How long will the Businessowners Policy pay for "extra expense coverage" used to reduce the loss of income when the insured has suffered a loss from a covered peril? Answer Choices: Select the Correct Answer Six consecutive months Twelve consecutive months Until the repairs are complete and the business re-opens, subject to a 12 consecutive month limitation Only until the policy expiration date

Until the repairs are complete and the business re-opens, subject to a 12 consecutive month limitation

Most aircraft hull policies are written on a: Answer Choices: Select the Correct Answer Replacement cost basis Market value Valued basis Actual cash value basis

Valued basis

Collin suffered a work-related injury on the morning of February 5th and was off work completely until he returned to work on full duty on February 19th. Collin had worked for his employer for four years and was paid $42,125 per year. Collin's state sets the TTD rate at 66 2/3rd percent of the average weekly wage. The state sets the maximum compensation rate at $420 per week and the waiting period at 3 days retroactive after 10 days. Collin was not paid for working on February 5th. Collin's average weekly wage is approximately: Answer Choices: Select the Correct Answer $810. $770. $534. $420.

$810

The Main Street Gazette is interested in protecting against the additional costs of continuing to print the newspaper, at a temporary location in the event its building was destroyed. Which of the following coverages should the Main Street Gazette purchase for this purpose? Answer Choices: Select the Correct Answer Extra expense coverage. Open perils coverage. Loss of rents coverage. Contingent gross earnings coverage.

Extra expense coverage

Due to an inflation guard percentage, the building coverage under a Businessowners policy will: Answer Choices: Select the Correct Answer Decrease by 2% each year as the building depreciates. Increase by 8% per year, unless another amount is shown in the declarations. Decrease by 8% per year as the building depreciates. Increase by 4% per year, unless another amount is shown in the declarations.

Increase by 8% per year, unless another amount is shown in the declarations

Which of the following best characterizes the difference between captive agents and independent agents? Answer Choices: Select the Correct Answer Independent agents can represent more than one insurer, whereas captive agents represent only one insurer. Captive agents only solicit applicants, while independent agents can also collect the premium and negotiate coverages. Captive agents have strict sales quotas, while independent agents do not. Independent agents are free to write any line of insurance they desire, while captive agents are restricted to certain lines.

Independent agents can represent more than one insurer, whereas captive agents represent only one insurer.

Mitch is covered by a Personal Auto policy. One night a cow breaks through a fence and is standing on the roadway. Mitch does not see the cow until it is too late and he hits it with his vehicle. Coverage for the damage to Mitch's vehicle: Answer Choices: Select the Correct Answer Will be denied because this type of loss is excluded. Is provided under Part A - Liability. Is provided under Part D - Other Than Collision. Is provided under Part D - Collision.

Is provided under Part D - Other Than Collision

Which of the following losses would be covered by the EC peril of "volcanic eruption" under a standard Dwelling form? Answer Choices: Select the Correct Answer The cracks in the ceiling of the dwelling due to the earthquake preceding a volcanic eruption. The damage to an exterior patio from a large bolder that was dislodged due to an aftershock. The exterior siding of the dwelling that was ruined by the ash that settled on it from the erupting volcano. The cracked foundation of the covered dwelling resulting from the earthquake that caused the volcanic eruption.

The exterior siding of the dwelling that was ruined by the ash that settled on it from the erupting volcano

An employee blanket bond covers ____ for dishonest acts. Answer Choices: Select the Correct Answer all employees named employees employees by position designated jobs

all employees

Mark is injured at work in a state that provides a TTD benefit at 66 2/3%, the state minimum is $40 and the state maximum is $540. The waiting period is 3 days and the retroactive period is 15 days. Which of the following is Mark's TTD benefit if he earns $20 per hour and usually works a 40-hour week. Mark is injured on July 14th and does not return to work until September 3rd. Which of the following is the amount of TTD benefit he would have received? Answer Choices: Select the Correct Answer $2,666.65 $3,696.00 $3,809.50. $4,266.64

$3,809.50 $20 X 40 - $800 (This is the average weekly wage). 66 2/3% X $800 = $533.33 (Still lower than the maximum). July 15th to September 2nd = 50 days, which is 7 weeks and one day (7 1/7th) weeks. The waiting period does not apply because the disability exceeded 15 days. 7 1/7 X $533.33 = $3,809.50

An insured owns a set of six drawing pens designed and used by Benjamin Franklin. Each pen is worth $1,000 alone, but the set is worth $12,000. One pen is destroyed by a covered peril. Under the pair or set clause the insurance company will pay a maximum of which of the following amounts? Answer Choices: Select the Correct Answer $7,000 $1,000 $12,000 $2,000

$7,000

A standard Homeowners policy has been issued with a $300,000 limit to cover a four-family dwelling. What is the automatic amount that will be provided for Coverage C?

$75,000

All of the following statements are TRUE regarding BOP Property Coverages, EXCEPT: Answer Choices: Select the Correct Answer The limit of both Coverage A & B must be shown on the declarations page of the policy. A business owner who rents the premises to conduct business must purchased both Coverage A & B of the policy. A business owner who rents the premises to conduct business need only purchase Coverage B of the policy. A business owner who rents the premises to conduct business need not purchase Coverage A of the policy.

A business owner who rents the premises to conduct business must purchased both Coverage A & B of the policy

Robert is retired and lives in an older home in Maine. He has an old floor furnace to heat his home that is in need of repair and he forgets to have it checked. In the winter he stays in Florida for a month with his daughter. While Robert is away, the furnace malfunctions, allowing the temperature in the house to drop so low that all his water pipes freeze and burst, causing massive water damage. His house is covered under a Homeowners broad cause of loss form, that includes water damage from a heating or plumbing system. How will the adjuster handle this claim? Answer Choices: Select the Correct Answer Pay for all damage except the furnace. Deny the entire claim because of neglect of the insured. Pay for the furnace and the resulting water damage only. Pay for the water damage and depreciate the payment for the replacement of the furnace.

Pay for all damage except the furnace

All of the following are correct statements regarding the limits of liability under Part A of a Personal Auto policy, EXCEPT: Answer Choices: Select the Correct Answer The Part A limits can be written on a split limit basis, two limits for bodily injury and one limit for property damage. The Part A limits can be written on a combined single limit basis where a single dollar limit applies to any combination of bodily injury and property damage liability claims. When the Part A limits are exhausted, any limits for Uninsured Motorists coverage can be used to pay the entire claim. The Part A limits of liability are not reduced in order to cover supplementary payments.

When the Part A limits are exhausted, any limits for Uninsured Motorists coverage can be used to pay the entire claim

The Part A - Liability section of a standardized personal auto policy will provide coverage for which of the following vehicles? Answer Choices: Select the Correct Answer A taxi cab. His pick-up truck when it is rented to a neighbor. His family car while being used in car pool. A limousine he rents out for weddings and special occasions.

His family car while being used in car pool.

Philip has several vehicles that are all covered under Personal Automobile policies. He has several acres of land with a barn and chicken coup on the property. To drive around on the acreage, Philip has a very old truck that is not licensed or insured. One afternoon, Philip is driving out to check on his cows when he hits a rut and his head slams down on the steering wheel, injuring him severely. How will Part B - Medical Payments provide coverage for Philip's injuries? Answer Choices: Select the Correct Answer Part B covers the named insured and any family member who is injured while occupying ANY motor vehicle, so Philip's injuries would be covered up to the limit of Part B. Bodily injury sustained while occupying an uninsured auto owned by the insured is excluded under Part B, therefore no coverage would apply. Philip's injuries would not be covered because Part B of the policy covers injuries sustained by third parties. Philip's injuries would not be covered under Part B, but would be covered under Part A of Philip's policy.

Bodily injury sustained while occupying an uninsured auto owned by the insured is excluded under Part B, therefore no coverage would apply

Dexter covers his dwelling under a DP-2 policy with $10,000 personal property (contents) coverage. He owns a canoe and stores it at a lake in a private garage that he does not own. Fire destroys the garage and Dexter's boat. How much coverage will Dexter's DP-2 form provide for his boat? Answer Choices: Select the Correct Answer Up to $1,000. Up to $500. $0. $1,500.

$0 The extension of coverage that applies to personal property off the covered premises (world-wide coverage) does not extend to rowboats or canoes

Which of the following is NOT a type of "fiduciary" bond? Answer Choices: Select the Correct Answer Administrator bond Executor bond Guardian bond Appeal bond

Appeal bond

With a Commercial Package Policy (CPP), "interline endorsements" are endorsements that: Answer Choices: Select the Correct Answer Apply to more than one coverage part of the package policy. Are attached to the common declarations page. Apply only to the common policy conditions within the package policy. Apply only to the Commercial Property coverage part within the package policy.

Apply to more than one coverage part of the package policy

A claims-made form of commercial umbrella liability policy is "triggered": Answer Choices: Select the Correct Answer By injury that occurs only before the policy period. At the time the injury or damage occurs. At the time the claim is first made against the insured during the policy period. By injury that occurs only after the policy period.

At the time the claim is first made against the insured during the policy period

Dave has suffered a property loss. He hires Katie, a public adjuster to assist him in presenting his claim to Indemnify Insurance, Inc., the company that insures his damaged property. Indemnify assigns the claim to Mark, one of their staff adjusters. Which of the following statements best describes how Katie and Mark will proceed in processing Dave's claim? Answer Choices: Select the Correct Answer Katie will process the claim from Dave's perspective and submit it to Mark, who will use the information to complete his claims report to Indemnify. Katie and Mark will immediately begin the claims investigation as a team, creating their reports together, providing for a smooth settlement between the two parties. Katie will proceed with her investigation and Mark will proceed with his investigation independently of each other. Each will create individual reports regarding the claim. Any time a public adjuster is involved in a claim, a lawyer must also be hired. Katie and Mark will each submit their claim reports to Dave's attorney who will make a decision as to whether or not a lawsuit will result.

Katie will proceed with her investigation and Mark will proceed with his investigation independently of each other. Each will create individual reports regarding the claim

The EC peril of "smoke" under the standard DP-1 form covers which of the following? Answer Choices: Select the Correct Answer Soot from the smoke stack of the factory across the street that settles on the siding of the dwelling. The release of soot from a furnace that damages the walls of the living room in the covered dwelling. The release of soot from a fireplace that damages the walls and ceiling of the family room in the covered dwelling. Oily soot from a smudge pot used to keep the apples in the orchards next door from freezing, that settles on the brick veneer of the covered dwelling.

The release of soot from a furnace that damages the walls of the living room in the covered dwelling

A requirement that a plaintiff file a lawsuit within a specific period of time after the cause of the lawsuit has occurred, which is oftentimes when the injury occurred or was discovered is known as: Answer Choices: Select the Correct Answer The burden of proof. The statute of limitations. The subrogation clause. The time limit on certain defense.

The statute of limitations