Blog

Choose the recipient of the largest dollar amount of annual annuity receipts for a $100,000 single-premium immediate annuity:

Bob loans his car to Norm, and Norm wrecks the car.  Both Bob and Norm have Personal Auto Policy’s on their owned vehicles, and both men have purchased all four major coverages (A, B, C and D) on their automobiles.  Whose policy will pay for this loss on a PRIMARY basis?

Dameion has a collision that is his fault.  The ACV of his vehicle is $13,922.  To repair the damages caused in the accident, it will cost $15,722.  What will the insurer likely pay Dameion under his COLLISION coverage, assuming his deductible is $500?

The purpose of the insuring agreement of an insurance policy is to:

Under the Personal auto Policy Liability Coverage, the “insured” is:

Deductibles serve three major purposes, and two of those are:

Mr. Green’s 24-year old son still lives at home while attending college part-time.  The son also has an apartment near his college campus.  His stereo is stolen from the apartment.  The stereo has a $1,400 replacement cost, and an actual cash value of $900.  If there is a $200 deductible on Section I, how much will the HO‑2 contract pay for the stolen stereo?

All of the following are available under one of the HO forms except:

A tornado causes the garage to collapse on Mr. Woody’s car, and the damage to the car is $5,000.  Mr. Woody has a PAP with both Collision and Other than Collision coverages.  A $200 deductible applies to the Collision coverage.  There is a $0 deductible on Other than Collision coverage.  How much is paid by the PAP for the tornado damage?

A Personal Auto Policy is issued with both Collision and Other than Collision coverages. Two valuable cameras are stolen from the car.  The cameras would be paid for by: