And Casualty Insurance Exam Questions & Correct Solutions

mobile home insurance {Ans: endorsement to dwelling or homeowners policy, can be a separate policy, insures the home, other structures, and contents, personal property, loss of use, permanent foundation}Examination of Records {Ans: whenever necessary, the director (or examiner) may examine the records and affairs of insurers. the director must investigate every insurer licensed in Alaska at least once every 3 years. the director (or examiner) has the power to: subpoena witnesses, compel the production of books and records, administer oaths, and examine persons under oath}Warranty (rules) {Ans: Always made by the insurance company, breach of the conditions may void contract}Symbol 6 {Ans: Owned autos subject to compulsory uninsured motorist law - Designates owned autos required to have no-fault benefits in a particular state}agreed amount {Ans: value of loss is determined before the policy is issued - what do you have to lose?}Speculative Risk {Ans: Chance of loss or gain}