187. A bond that guarantees correction of faulty work or replacement of defective
materials for a specific time, usually one year is called a:
A- Maintenance Bond
B- Supply Bond
C- Payment Bond
D- None of these choices
Give this one a try later!
, A- Maintenance Bond
True
Give this one a try later!
A Policy may be standard, statutory, or both
45. The body of statutory law known as ERISA is primarily enforced by which of the
following:
A- United States Department of the Interior
B- United States Department of Labor
C- United States Department of Justice
D- United States Department of State
Give this one a try later!
B- United States Department of Labor
41. The insurance provision that provides lower insurance rates for insureds who insure
at levels close to the value of property, thus getting insurance coverage closer to
property values is called:
A- Coinsurance
B- Subrogation
C- Other insurance
D- Proration
Give this one a try later!
, A- Coinsurance
Under a Personal Articles Floater a man and his wife had an individually scheduled
ring covered for $75,000. They later purchased a ring for $150,000 and did not report
the purchase to the insurer for two days. Before the purchase was reported, the
$150,000 ring was stolen. How would the claim be settled?
Select one:
A. The Insurer would pay $150,000
B. The Insurer would pay 25% of $150,000
C. The Insurer would pay $10,000
D. The Insurer would pay $75,000
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C. The Insurer would pay $10,000 (25% of the current coverage, maximum
of $10,000)
140. Under Inland Marine policies all are correct EXCEPT:
A- 25% of limit for newly acquired property
B- Jewelry & Furs - 30 days automatic coverage
C- Fine Arts - 90 days automatic coverage
D- Theft coverage requires visible signs of forceful entry
Give this one a try later!
D- Theft coverage requires visible signs of forceful entry
Which one of the following features is not true about a Health Maintenance
Organization (HMO)?
A. They are known as a program that offers insureds the broadest choices of doctors
, and specialty care
B. They have few exclusions and a small deductible and co-payment
C. Their goal is to practice preventive medical care
D. They have separate physical facilities to treat patients
Give this one a try later!
A. They are known as a program that offers insureds the broadest choices
of doctors and specialty care
premium payment and agreement
Give this one a try later!
Consideration Valid Insurance Contract
What coverage form applies for one who leases a building from another, as to the
possibility of being responsible to the owner for damage to the building caused by
fire due to negligence of the tenant?
A. Agreed Value coverage
B. Builders Risk coverage
C. Replacement Cost coverage
D. Legal Liability coverage
Give this one a try later!
D. Legal Liability coverage
materials for a specific time, usually one year is called a:
A- Maintenance Bond
B- Supply Bond
C- Payment Bond
D- None of these choices
Give this one a try later!
, A- Maintenance Bond
True
Give this one a try later!
A Policy may be standard, statutory, or both
45. The body of statutory law known as ERISA is primarily enforced by which of the
following:
A- United States Department of the Interior
B- United States Department of Labor
C- United States Department of Justice
D- United States Department of State
Give this one a try later!
B- United States Department of Labor
41. The insurance provision that provides lower insurance rates for insureds who insure
at levels close to the value of property, thus getting insurance coverage closer to
property values is called:
A- Coinsurance
B- Subrogation
C- Other insurance
D- Proration
Give this one a try later!
, A- Coinsurance
Under a Personal Articles Floater a man and his wife had an individually scheduled
ring covered for $75,000. They later purchased a ring for $150,000 and did not report
the purchase to the insurer for two days. Before the purchase was reported, the
$150,000 ring was stolen. How would the claim be settled?
Select one:
A. The Insurer would pay $150,000
B. The Insurer would pay 25% of $150,000
C. The Insurer would pay $10,000
D. The Insurer would pay $75,000
Give this one a try later!
C. The Insurer would pay $10,000 (25% of the current coverage, maximum
of $10,000)
140. Under Inland Marine policies all are correct EXCEPT:
A- 25% of limit for newly acquired property
B- Jewelry & Furs - 30 days automatic coverage
C- Fine Arts - 90 days automatic coverage
D- Theft coverage requires visible signs of forceful entry
Give this one a try later!
D- Theft coverage requires visible signs of forceful entry
Which one of the following features is not true about a Health Maintenance
Organization (HMO)?
A. They are known as a program that offers insureds the broadest choices of doctors
, and specialty care
B. They have few exclusions and a small deductible and co-payment
C. Their goal is to practice preventive medical care
D. They have separate physical facilities to treat patients
Give this one a try later!
A. They are known as a program that offers insureds the broadest choices
of doctors and specialty care
premium payment and agreement
Give this one a try later!
Consideration Valid Insurance Contract
What coverage form applies for one who leases a building from another, as to the
possibility of being responsible to the owner for damage to the building caused by
fire due to negligence of the tenant?
A. Agreed Value coverage
B. Builders Risk coverage
C. Replacement Cost coverage
D. Legal Liability coverage
Give this one a try later!
D. Legal Liability coverage
