You are getting closer to the half way point! Let’s test your knowledge with 9 more questions, and don’t forget to go back and re-do the quizzes to make sure this information sticks 🙂
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Question 1 of 9
1. Question
A property valued at $2,000,000 and insured for $1,500,000 suffers minor fire damage. There is an 80% co-insurance clause. Calculate the amount to be paid by the insurer. Damage is $2300.
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Question 2 of 9
2. Question
A property is valued at $10,000 with a co-insurance clause of 80%. The policy is insured for $4000 and suffers a loss of $9,000. What would the policy pay?
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Question 3 of 9
3. Question
The time limit in which a legal action can be taken by a policyholder is
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Question 4 of 9
4. Question
When an insurance company takes possession of an item after it indemnifies the insured this is known as
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Question 5 of 9
5. Question
The prescription period in Ontario and Quebec for automobile claims are as follows
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Question 6 of 9
6. Question
Co-insurance is mostly applied to these types of contracts
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Question 7 of 9
7. Question
These types of adjusters work for the insured
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Question 8 of 9
8. Question
These adjusters typically handle smaller and straightforward losses
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Question 9 of 9
9. Question
This type of policy only covers claims made during the term of the policy
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