Exam Fx Casualty Questions With Complete Solution

The declarations section in a homeowners policy provides all of the following information EXCEPT correct answer: Policy exclusions An insurer must notify the consumer in writing that an investigative consumer report has been requested, within how many days of the initial request? correct answer: 3 days Once a binder is issued, it can last no longer than correct answer: 90 days An insured has a maximum limit of coverage available under her liability policy during a policy year, regardless of the number of claims made or the number of accidents Her limits are restored at the policy anniversary. What type of limit does this insured have? correct answer: Aggregate For which of the following types of employers would workers compensation coverage be mandatory? correct answer: Small employers A personal umbrella policy may act as excess over any of the following insurance coverage policies EXCEPT correct answer: Auto collision coverage If an individual willfully violates provisions of the Fair Credit Reporting Act, what is the maximum civil penalty? correct answer: $2,500 All of the following are considerations in determining which state's law applies when a worker is required to travel into another state and is injured while working in the other state EXCEPT correct answer: The insurer's chartered location or domicile What types of injuries could incur additional penalties and/or increased benefits paid by the employer? correct answer: The employer's willful failure to provide required safety goggles Which of the following injuries may be covered under Coverage C- Medical Payments of a commercial general liability policy? correct answer: Injuries to a member of the general public that occurs on premises Within how many days must a licensee inform the Commissioner of any change in the licensee's address? correct answer: 30