Personal Lines Practice Questions |65 Questions| With Correct Answers.

Which of the following is true concerning flood insurance policies ? (A Only the federal government sells the coverage and provides the insurance ( B ) Only Private insurance companies sell the coverage and provide the insurance ( C ) The federal government sells the coverage and with private companies providing the insurance ( D ) ) Private companies and the federal government sell the coverage with the federal government assuming all of the risk {Ans: Private companies and the federal government sell the coverage with the federal government assuming all of the risk}In Liability policies , the concept that an individual must conform to a generally agreed upon standard of care is called (A ) Conformance theory (B)Breach of duty (C)Legal duty ( D ) Howdy duty {Ans: Legal duty}Which of the following is NOT one of your duties in the event of a loss ? ( A ) Notify the police if a law has been broken ( B ) Give the company a description of the loss ( C ) Take a lie detector test ( D ) Protect the property from further damage {Ans: ( C ) Take a lie detector test}Which HO