Printable Flash Cards.pdf - Printable Flash Cards Term 1 Definition 1 What course of action does a party to a contract have if the other party is found

Printable Flash Cards.pdf - Printable Flash Cards Term 1...

This preview shows page 1 - 5 out of 78 pages.

4/28/2016 Printable Flash Cards 1/78 Term 1 What course of action does a party to a contract have if the other party is found to be in breach of that contract? Definition 1 Damages for breach, reasonable attorney fees and cost. Term 2 A representation in an insurancecontract qualifies as an... Definition 2 Term 3What does it mean if an agent'slicense is inactive?Definition 3The agent cannot transact anyinsurance business for which a valid,active license is required.
Image of page 1
4/28/2016 Printable Flash Cards 2/78 Term 4 The ordinance and law exclusion/limation found in property policies wuch as the commercial property coverage, and in the Homeowners Policy have the following effect: Definition 4 It excludes what part of the loss resulting from the enforcement of a building ordinance or law. Term 5 Extra expense inusurance covers: Definition 5 The extra expense that a business incurs to continue a business while damage to the premises are being restored. Term 6 A plate glass coverage form is needed by some insureds. The following statement about the coverage for the peril of glass breakage in commercial property for a "building and personal property" basic, broad and special causes of loss forms is true... Definition 6 There is a limited glass breakage coverage in both of the broad and special forms.
Image of page 2
4/28/2016 Printable Flash Cards 3/78 Term 7 In the state of CA, no rate will remain in effect if it is considered to be... Definition 7 Impartial Term 8 The amount paid for property damage which is equal to the price for which it could have been sold is its... Definition 8 market value Term 9 The limited Mexico endorsementapplies to trips to Mexico with aduration of how many days? Definition 9
Image of page 3
4/28/2016 Printable Flash Cards 4/78 Term 10 Which type of coverage would pay for losses which occurred during the policy period and are found for up to one year after the policy termination? Definition 10 loss sustained Term 11 Which coverage protects physicians, surgeons, and dentists for their professional activities? Definition 11 malpractice coverage Term 12
Image of page 4
Image of page 5

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture