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4/28/2016Printable Flash Cards1/78Term 1What course of action does a party toa contract have if the other party isfound to be in breach of that contract?Definition 1Damages for breach, reasonableattorney fees and cost.Term 2A representation in an insurancecontract qualifies as an...Definition 2Term 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.
4/28/2016Printable Flash Cards2/78Term 4The ordinance and lawexclusion/limation found in propertypolicies wuch as the commercialproperty coverage, and in theHomeowners Policy have thefollowing effect:Definition 4It excludes what part of the lossresulting from the enforcement of abuilding ordinance or law.Term 5Extra expense inusurance covers:Definition 5The extra expense that a businessincurs to continue a business whiledamage to the premises are beingrestored.Term 6A plate glass coverage form is neededby some insureds. The followingstatement about the coverage for theperil of glass breakage in commercialproperty for a "building and personalproperty" basic, broad and specialcauses of loss forms is true...Definition 6There is a limited glass breakagecoverage in both of the broad andspecial forms.
4/28/2016Printable Flash Cards3/78Term 7In the state of CA, no rate will remainin effect if it is considered to be...Definition 7ImpartialTerm 8The amount paid for property damagewhich is equal to the price for which itcould have been sold is its...Definition 8market valueTerm 9The limited Mexico endorsementapplies to trips to Mexico with aduration of how many days?Definition 9
4/28/2016Printable Flash Cards4/78Term 10Which type of coverage would pay forlosses which occurred during thepolicy period and are found for up toone year after the policy termination?Definition 10loss sustainedTerm 11Which coverage protects physicians,surgeons, and dentists for theirprofessional activities?Definition 11malpractice coverageTerm 12