Ch 10
If I change my address how many days do i have to notify the director of insurance?
30 days
What's the loss valuation method for a boat
ACV
Which part in a PAP is for the 3rd party only?
Part A/liability
How many roomers or borders can live in one dwelling unit ?
no more than 2
What party would be considered the principle?
2nd party
If my wife days and i have to handle her insurance business for how many days can i hold the license without having to take the exam?
180 days
How many acres or properties must be flooded for it to be defined as a flood.
2 acres/ 2 properties
Is PIP(personal injury protection) offered in AZ?
No loss of earnings and pain and suffering is not covered for the 1st party in AZ
What's the most Coverage E will pay for one accident
$100,000 per occurrence
What type of tort would negligence be considered
Unintentional tort
How often must the director of insurance audit insurance companies
Once every 5 years
What's the waiting period a policyholder will wait for an earthquake policy to become effective
Will be effective next day after class/ immediately
What is the cancellation time frame for grace period, valid cancelation, and non renewal?
Grace period~ 7 days
Valid cancelation~ 10 days
Non-renewal~ 45days
Whats the sublimit for a watercraft in section 1
$1,500
If i have a split limit of 50/75/80 whats the most the policy will pay for one accident?
$155,000
If you are guilty of intent to injure, defraud, or deceive the insurer what type of class felony is this?
Class 6
What policy on a homeowners can allow a mobile home endorsement to be added if the insurer allows?
Ho-4
What is the name of the endorsement for vehicles that don't qualify for the standard PAP.
Misc. type vehicle (MTV)
If I have to replace my plants after a covered peril damaged them what is the limit i will receive
$500 per plant/ 5% of a
The most the policy will pay for the whole period of coverage
Aggregate Limit
If im guilty of a illegal unfair trade that I did intentionally for course of a six-month period what will be the amount i have to pay?
$50,000
Raul has an Umbrella policy for $1million, he recently had a car crash in Mexico which caused $250,000 in damages. He also has an SIR of $1000 but also has an auto policy with a split limit of 25/50/15. what is the amount in umbrella policy will pay?
SIR will pay the $1000
and the umbrella policy will pay $240,000
What is th limit for transportation expenses if i need get an alternative transportation due to a theft (bonus points if you give me the waiting period for theft)
$20 per day/ $600 per occurrence
48 hours for total theft
What is the clause that has to do when you have a collection of items and if one breaks/gets stolen we will indemnify you for the items.
Loss to a pair or set clause
What type of compensatory damage has to deal with negotiating a price for the damage caused?
General Damage