CT Insurance Licensing Exam
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1. an automatic sprinkler system in a hotel building is a Reduces the amount of
risk reduction measure because it: damage that a fire is likely
to do
2. Insurance companies generally refuse to issue poli- potentially catastrophic
cies to cover losses that are:
3. which of the following is a peril theft
4. after every snowfall, Sam removes the snow from the Risk Prevention
sidewalk that leads to his front door. His actions are an
example of:
5. which statement correctly describes how risk reten- they are subject to less
tion groups are regulated? state regulation than reg-
ular insurance companies
6. a stock insurance company is owned by its stockholders
7. a reciprocal insurer is: an unincorporated group
of members that ex-
change indemnity con-
tracts
8. Roberto works for an organization that places excess surplus lines broker
and surplus lines insurance coverage with non-admit-
ted insurers
9. an insurer that has a history of accepting premiums waiver and estoppel
up to five days beyond their due date cannot deny a
claim for a loss occurring the day after a premium was
due for which of the following reasons?
10. consideration
, CT Insurance Licensing Exam
Study online at https://quizlet.com/_bopfwu
with respect to requirements for a valid contract,
a policy-owner's payment of the policy premium is
called a(n):
11. Zenith insurance company issues a policy to best man- favors best manufacturing
ufacturing company. a dispute arises between Zenith
and Best on the meaning of an ambiguous clause in
their contract. the matter goes to court, which can be
expected to interpret the clause in a manner that:
12. if the courts find an ambiguity in an insurance policy, contract of adhesion
they will interpret it in the policyholder's fave because
insurance policies are
13. which one of the following perils is least likely to be falling objects
covered under a property insurance policy that covers
buildings and contents against the basic causes of
loss?
14. all of the following causes of loss are commonly listed vandalism
as excluded perils in open perils property insurance
policies,EXCEPT:
15. the doctrine of concurrent causation holds that if a the insurance policy cov-
loss involves more than one peril, and the insurance ers the entire loss
policy covers at least one of the perils, then:
16. Greg's business is covered by an open perils property a difference in conditions
insurance policy, but he is concerned that the policy policy
excludes coverage for flood and earthquake losses.
What might greg purchase to obtain flood and earth-
quake coverage?
, CT Insurance Licensing Exam
Study online at https://quizlet.com/_bopfwu
17. Liability insurance basically involves tort law
18. John let his 17 year old daughter ashley use his motor- vicarious liability
boat, knowing she was normally a responsbile opera-
tor. on this evening, while fooling around, she collided
with another boat causing injuries and property dam-
age. though john was not in the boat, he was found to
be responsible for damages based on the doctrine of:
19. which one of the following incidents is an example of Rudy is held responsible
vicarious liability: for an accident cause by
his employee
20. Alan used his old truck with bald tires and leaking Punitive Damages
brake lines to move grain from his farm to the grain
elevator. during the trip, his brakes failed, and he
ran into a school bus. In addition to paying for dam-
age to the bus, the court also ordered Alan to pay
an additional $250,000 as punishment for his grossly
negligent behavior. What is this additional payment
considered?
21. Within the body of an insurance policy, what word or "you"
phrase refers specifically to the named insured?
22. a statement in an auto insurance policy that reads: insuring agreement
"we will pay damages for bodily injury or property
damage for which any insured become legally respon-
sible because of an auto accident" is from which stan-
dard policy provision?
23. coworkers who live near her residence ride to work and exception to an exclu-
in Felicia's car and help pay for her gas and other ex- sion
Study online at https://quizlet.com/_bopfwu
1. an automatic sprinkler system in a hotel building is a Reduces the amount of
risk reduction measure because it: damage that a fire is likely
to do
2. Insurance companies generally refuse to issue poli- potentially catastrophic
cies to cover losses that are:
3. which of the following is a peril theft
4. after every snowfall, Sam removes the snow from the Risk Prevention
sidewalk that leads to his front door. His actions are an
example of:
5. which statement correctly describes how risk reten- they are subject to less
tion groups are regulated? state regulation than reg-
ular insurance companies
6. a stock insurance company is owned by its stockholders
7. a reciprocal insurer is: an unincorporated group
of members that ex-
change indemnity con-
tracts
8. Roberto works for an organization that places excess surplus lines broker
and surplus lines insurance coverage with non-admit-
ted insurers
9. an insurer that has a history of accepting premiums waiver and estoppel
up to five days beyond their due date cannot deny a
claim for a loss occurring the day after a premium was
due for which of the following reasons?
10. consideration
, CT Insurance Licensing Exam
Study online at https://quizlet.com/_bopfwu
with respect to requirements for a valid contract,
a policy-owner's payment of the policy premium is
called a(n):
11. Zenith insurance company issues a policy to best man- favors best manufacturing
ufacturing company. a dispute arises between Zenith
and Best on the meaning of an ambiguous clause in
their contract. the matter goes to court, which can be
expected to interpret the clause in a manner that:
12. if the courts find an ambiguity in an insurance policy, contract of adhesion
they will interpret it in the policyholder's fave because
insurance policies are
13. which one of the following perils is least likely to be falling objects
covered under a property insurance policy that covers
buildings and contents against the basic causes of
loss?
14. all of the following causes of loss are commonly listed vandalism
as excluded perils in open perils property insurance
policies,EXCEPT:
15. the doctrine of concurrent causation holds that if a the insurance policy cov-
loss involves more than one peril, and the insurance ers the entire loss
policy covers at least one of the perils, then:
16. Greg's business is covered by an open perils property a difference in conditions
insurance policy, but he is concerned that the policy policy
excludes coverage for flood and earthquake losses.
What might greg purchase to obtain flood and earth-
quake coverage?
, CT Insurance Licensing Exam
Study online at https://quizlet.com/_bopfwu
17. Liability insurance basically involves tort law
18. John let his 17 year old daughter ashley use his motor- vicarious liability
boat, knowing she was normally a responsbile opera-
tor. on this evening, while fooling around, she collided
with another boat causing injuries and property dam-
age. though john was not in the boat, he was found to
be responsible for damages based on the doctrine of:
19. which one of the following incidents is an example of Rudy is held responsible
vicarious liability: for an accident cause by
his employee
20. Alan used his old truck with bald tires and leaking Punitive Damages
brake lines to move grain from his farm to the grain
elevator. during the trip, his brakes failed, and he
ran into a school bus. In addition to paying for dam-
age to the bus, the court also ordered Alan to pay
an additional $250,000 as punishment for his grossly
negligent behavior. What is this additional payment
considered?
21. Within the body of an insurance policy, what word or "you"
phrase refers specifically to the named insured?
22. a statement in an auto insurance policy that reads: insuring agreement
"we will pay damages for bodily injury or property
damage for which any insured become legally respon-
sible because of an auto accident" is from which stan-
dard policy provision?
23. coworkers who live near her residence ride to work and exception to an exclu-
in Felicia's car and help pay for her gas and other ex- sion
