Fire & Casualty #3
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| 1. What course of action does a party to a contract have if the other party is found to ve in a breach (violation) of that contract? | Damages for breach, reasonable attorney fees and costs.
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| 2. A representation in an insurance contract qualifies as which of the following? | An implied warranty.
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| 3. What does it mean if an agent's license is inactive? | The agent cannot transact any insurance business for which a valid active license is required.
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| 4. The ordinance or law exclusion found in property policies such as the commercial property and in Homeowner's policy has the following effect. | it excludes the part of the loss resulting from the enforcement of a building ordinance or law.
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| 5. Extra expense insurance covers: | The extra expense that a business incurs to continue a business while damage to the premises are being restored.
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f&c
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