1 of 50
Term Definition
All of the following are true of
D
the HO-3 Special Form,
EXCEPT:
A) The HO-3 can be modified
for special needs through
available endorsements.
B) The HO-3 is designed for
owners who occupy their
dwelling or choose to rent it.
C) The HO-3 is typically used as
a basis for understanding other
HO coverage forms.
D) The HO-3 meets the
property and liability coverage
needs of most families.
Give this one a try later!
, True False
Correct definition
B
2 of 50
Term Definition
An inland marine floater is B
named as such because
A) It covers property that is
transported on the ocean
B) It covers property that moves
over land
C) It was first needed by sailors
in old times
D) It usually relates to maritime
possessions
Give this one a try later!
True False
3 of 50
Term Definition
Winona now has a picture
B
framing business she conducts
,from her home, but has never
amended her unendorsed
homeowners policy to reflect
the business exposures. If her
home were damaged or
destroyed by a covered cause
of loss, which one of the
following would be covered?
A) Disks with information on
current customers
B) Framed pictures of Winona's
grandchildren
C) Framed pictures awaiting
customer pickup
D) Boxes of frames for future
jobs
Give this one a try later!
True False
4 of 50
Term Definition
In an agency or brokerage,
C
cross-selling has which one of
the following effects on long-
term profitability?
A) It increases acquisition costs,
, which reduces profitability.
B) It has no direct impact on
profitability.
C) It increases customer
retention, which increases
profitability.
D) It increases loss exposures,
which reduces profitability.
Give this one a try later!
True False
5 of 50
Term Definition
Which one of the following is
B
true regarding Part C -
Uninsured Motorists Coverage
of the PAP?
A) The UM provisions in the PAP
super cede any listed state-
specific endorsements
B) Each state's UM law may
require unique provisions.
C) UM coverages include
medical expenses and punitive
damages.
D) The minimum amount of UM
Term Definition
All of the following are true of
D
the HO-3 Special Form,
EXCEPT:
A) The HO-3 can be modified
for special needs through
available endorsements.
B) The HO-3 is designed for
owners who occupy their
dwelling or choose to rent it.
C) The HO-3 is typically used as
a basis for understanding other
HO coverage forms.
D) The HO-3 meets the
property and liability coverage
needs of most families.
Give this one a try later!
, True False
Correct definition
B
2 of 50
Term Definition
An inland marine floater is B
named as such because
A) It covers property that is
transported on the ocean
B) It covers property that moves
over land
C) It was first needed by sailors
in old times
D) It usually relates to maritime
possessions
Give this one a try later!
True False
3 of 50
Term Definition
Winona now has a picture
B
framing business she conducts
,from her home, but has never
amended her unendorsed
homeowners policy to reflect
the business exposures. If her
home were damaged or
destroyed by a covered cause
of loss, which one of the
following would be covered?
A) Disks with information on
current customers
B) Framed pictures of Winona's
grandchildren
C) Framed pictures awaiting
customer pickup
D) Boxes of frames for future
jobs
Give this one a try later!
True False
4 of 50
Term Definition
In an agency or brokerage,
C
cross-selling has which one of
the following effects on long-
term profitability?
A) It increases acquisition costs,
, which reduces profitability.
B) It has no direct impact on
profitability.
C) It increases customer
retention, which increases
profitability.
D) It increases loss exposures,
which reduces profitability.
Give this one a try later!
True False
5 of 50
Term Definition
Which one of the following is
B
true regarding Part C -
Uninsured Motorists Coverage
of the PAP?
A) The UM provisions in the PAP
super cede any listed state-
specific endorsements
B) Each state's UM law may
require unique provisions.
C) UM coverages include
medical expenses and punitive
damages.
D) The minimum amount of UM
