Wv Insurance Exam Study Guide 1 Questions And Answers Fully Solved

Tornado {Ans: A tornado blows over a wall of a barn which, in turn, knocks over a lamp and starts a fire. What is the proximate cause of the loss?}$10,000 {Ans: Penalty for violation of a cease and desist order of the commissioner}10 days {Ans: Time limit for the insured to void a contract with an adjuster if the contract was executed 48 hours after a loss- producing occurrence}Underinsured {Ans: You are in an auto accident with another person who has liability coverage of 20/40/10. You exhaust their limits of liability. Under which section of your policy are you entitled to recover more damages?}$55,000 {Ans: The ABC Printing Company has a printing press that suffers a total loss. The company paid $25,000 ten years ago for the press. ACV is $40,000 and the replacement cost is $55,000. The company has had to cancel several contracts for printing due to the loss of the press and they area anxious to resume full production. ABC Company is covered under a Business Owner's Policy (BOP). They will receive how much from the insurer?}Official Used Car Guide Amount {Ans: Which amount would be paid on a Total Loss