Which statement is false regarding the National Flood Insurance Program (NFIP)?

a. The Regular Program allows coverage on a single family dwelling up to $250,000

b. It provides coverage for direct and indirect loss to covered property as the result of flooding

c. Coverage includes the increased cost of compliance with flood plain management ordinances

d. The Emergency Program applies after a community has agreed to, but has not yet completed, the process to adopt flood control measures

Answer: b. It provides coverage for direct and indirect loss to covered property as the result of flooding

Miscellaneous Personal Lines Coverage

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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A domestic insurer issuing variable contracts must establish one or more
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A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
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Under an extended term nonforfeiture option, the policy cash value is converted to
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The voluntary relinquishment of a legal right is called
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The requirement that agents not commingle insurance monies with their own funds is known as
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Which of the following is NOT true regarding the accumulation period of an annuity?
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The requirement that agents not commingle insurance monies with their own funds is known as
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