GA PROPERTY & CASUALTY (55)
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Miami Dade College, Miami *
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MISC
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Accounting
Date
Nov 24, 2024
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Uploaded by MegaWallabyMaster993
GA PROPERTY & CASUALTY QUESTIONS EXAM
Questions Latest 2023/24 (100% Verified Solutions)
A. an automobile insurance policy
B. a certification of self-insurance
C. a deposit of securities
D. a certified financial statement -
correct answers
✅
D. a certified financial
statement
Under the auto ins plan (AIP), all of the following coverages are available to
the eligible owner of a private passenger vehicle EXCEPT:
A. Personal injury protections (PIP)
B. underinsured motorists
C. Rental reimbursement
D. Bodily Injury -
correct answers
✅
C. Rental reimbursement
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Related Questions
pls help asap
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Aa 14.
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Which of the following would be accepted as a proof of liability insurance for automobile liability insurance?
An expired insurance card provided by the insurance company
A bound insurance application for which the check offered for payment was dishonored due to insufficient funds
A liability insurance binder issued by the insurance producer in effect on the date the police requested proof of insurance
Insurance declarations page with an expiration date prior to the date of the accident in question
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A "waiver-of-premium” clause:
Select one:
a. allows the person to purchase additional insurance at no extra cost
means the insured will receive the cash value immediately
allows an insurance agent to pay your premiums
b.
C.
O d. waives the suicide clause
e. pays premiums in the event of illness or disability
Clear my choice
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am. 106.
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Use the following information to answer questions 29-31
Danielle has the following personal property and liability coverages in place. No other endorsements are
in place. The liability limits meet the minimum requirements of the umbrella insurer.
Homeowners 3 Policy
Coverage A: $250,000
Coverage B: $25,000
Coverage C: $125,000
Coverage D: $75,000
Coverage E: $300,000
Coverage F: $1,000
Personal Auto Policy
Coverage A: 250/500/50
Coverage B: $5,000
Coverage C: 100/300
Personal Umbrella Policy
$1,000,000 limit
$250 self-insured retention
29. Danielle is driving to the store and runs a stop sign, causing an accident. The other driver is awarded
$300,000 in damages as a result of the accident.
Covered (by any policy): Yes / No
HO3 Amount: $
PAP Amount: $
Umbrella Amount: $
30. Danielle is hosting a party at her house for her daughter's high school graduation. One of her
daughter's friends in attendance slips on the freshly refinished wood floors and is severely injured. The
friend sues and…
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14
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Auto insurance options offered by AA Auto Insurance are outlined in the table
below. What monthly payment would you expect for an insurance polier through
A Auto Insurance with the following options?
Bodily Injury: S50/100,000
Property Damage: $100,000
Collison: S100 deductible
Comprehensive: $100 deductible
a.$845
b. $350
c. $7O
d. $67
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Y7
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A homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due the insured for the unexpired policy period?
A.$0
B.$525
C.$625
D.$1150
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Q2: Reinsurance can be used by an insurer to solve several problems. Assume you are an insurance consultant who is asked to give recommendations concerning the type of reinsurance plan or arrangement to use. For each of the following situations, indicate the type of reinsurance plan or arrangement that the ceding insurer should use, and explain the reasons for your answer.
Company A is a primary insurer and your stable client. It starts offering automobile insurance and wants to reinsure 50% of the losses.
Company B, currently not your client, is a primary insurance company that introduces a new insurance product covering a risk of loss on yachts. The average value of a transport plane is €300,000.
A pool of insurers covering a nuclear power plant property and liability risk wants to reinsure this risk in your company.
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O https://sfdr.owschools.com/owsoo/studentAssignment/index?eh=65534403
Assignment - 1. Credit Scores and Loans
SECTION 2 OF 4
QU
ASSIGNMENTS
COURSES
Attempt 1 of 1
1
4
y 5
6.
8
Identify benefits of a good credit score. Select all that apply.
O better job opportunities
O lower car insurance rates
O inability to rent an apartment
O higher interest rates on a car loan
O ability to obtain a cell phone service plan
NEXT QUESTION
READ NEXT SECTION
O ASK FOR HELP
TURN IT
Type here to search
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Subject: acounting
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None
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Please read through the questions parts 2 and 3 is asking for journal entry. The rest are fill ins.
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Wind damage occurs to your car costing $1,700 to repair. If you have a $110 deductible for collision and full coverage for comprehensive, what portion of the claim
will the insurance company pay?
Multiple Choice
$850
$1,590
$110
$1,810
$1,700
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Need typed answer only.Please give answer within 45 minutes
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Qw.142
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Prepare the journal entries to record interest income and interest received and recognition of fair value at December 31, 2023,
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Related Questions
- pls help asaparrow_forwardAa 14.arrow_forwardWhich of the following would be accepted as a proof of liability insurance for automobile liability insurance? An expired insurance card provided by the insurance company A bound insurance application for which the check offered for payment was dishonored due to insufficient funds A liability insurance binder issued by the insurance producer in effect on the date the police requested proof of insurance Insurance declarations page with an expiration date prior to the date of the accident in questionarrow_forward
- A "waiver-of-premium” clause: Select one: a. allows the person to purchase additional insurance at no extra cost means the insured will receive the cash value immediately allows an insurance agent to pay your premiums b. C. O d. waives the suicide clause e. pays premiums in the event of illness or disability Clear my choicearrow_forwardam. 106.arrow_forwardUse the following information to answer questions 29-31 Danielle has the following personal property and liability coverages in place. No other endorsements are in place. The liability limits meet the minimum requirements of the umbrella insurer. Homeowners 3 Policy Coverage A: $250,000 Coverage B: $25,000 Coverage C: $125,000 Coverage D: $75,000 Coverage E: $300,000 Coverage F: $1,000 Personal Auto Policy Coverage A: 250/500/50 Coverage B: $5,000 Coverage C: 100/300 Personal Umbrella Policy $1,000,000 limit $250 self-insured retention 29. Danielle is driving to the store and runs a stop sign, causing an accident. The other driver is awarded $300,000 in damages as a result of the accident. Covered (by any policy): Yes / No HO3 Amount: $ PAP Amount: $ Umbrella Amount: $ 30. Danielle is hosting a party at her house for her daughter's high school graduation. One of her daughter's friends in attendance slips on the freshly refinished wood floors and is severely injured. The friend sues and…arrow_forward
- 14arrow_forwardAuto insurance options offered by AA Auto Insurance are outlined in the table below. What monthly payment would you expect for an insurance polier through A Auto Insurance with the following options? Bodily Injury: S50/100,000 Property Damage: $100,000 Collison: S100 deductible Comprehensive: $100 deductible a.$845 b. $350 c. $7O d. $67arrow_forwardY7arrow_forward
- A homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due the insured for the unexpired policy period? A.$0 B.$525 C.$625 D.$1150arrow_forwardQ2: Reinsurance can be used by an insurer to solve several problems. Assume you are an insurance consultant who is asked to give recommendations concerning the type of reinsurance plan or arrangement to use. For each of the following situations, indicate the type of reinsurance plan or arrangement that the ceding insurer should use, and explain the reasons for your answer. Company A is a primary insurer and your stable client. It starts offering automobile insurance and wants to reinsure 50% of the losses. Company B, currently not your client, is a primary insurance company that introduces a new insurance product covering a risk of loss on yachts. The average value of a transport plane is €300,000. A pool of insurers covering a nuclear power plant property and liability risk wants to reinsure this risk in your company.arrow_forwardO https://sfdr.owschools.com/owsoo/studentAssignment/index?eh=65534403 Assignment - 1. Credit Scores and Loans SECTION 2 OF 4 QU ASSIGNMENTS COURSES Attempt 1 of 1 1 4 y 5 6. 8 Identify benefits of a good credit score. Select all that apply. O better job opportunities O lower car insurance rates O inability to rent an apartment O higher interest rates on a car loan O ability to obtain a cell phone service plan NEXT QUESTION READ NEXT SECTION O ASK FOR HELP TURN IT Type here to searcharrow_forward
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