Hawaii License Exam Questions and Answers 100% Pass

Hawaii License Exam Questions and Answers 100% Pass An insurance company that is formed in Canada would be - Answer- Alien A person who acts on behalf of insurance company is called - Answer- Independent Adjuster At what year can one become an adjuster - Answer- 18 years old Which of the following would be eligible under BOP - Answer- Six story apartment building An agreement between an insured and the insurer that certain conditions will be met is called - Answer- A warranty Where in the insurance contract does the company promise to do something - Answer- Insuring Agreement An insured buys a CLP on a building and fails (purposely) to tell her agent he only owns 50% of the building is an example of - Answer- Misrepresentation In Hawaii licensee must notify the commissioner of change of address within - Answer- 30 days What is permanent disability - Answer- When an employee cannot work at any workforce Who would be covered under workman's compensation - Answer- A servant working less than $225 a quarter A person who's license is revoked or suspended is required to provide - Answer- Proof of financial responsibility(Insurance) When should an insured notify the insurer of a claim - Answer- Promptly or within a reasonable amount of time What is the purpose of a joint underwriting plan - Answer- To provide coverage to persons in high risk categories who cannot obtain insurance at a reasonable cost What are the coverages under DP1? - Answer- Volcanic eruption(DP1 only cover Fire, lightning, and internal explosion w/o endorsement Who would be considered named insured? - Answer- The insured 30 year old sister who live with insured An order and notice of commissioner will not be effective unless - Answer- Signed by the commissioner or under the commissioner's authority When an insurance company makes payment for lost or damage property the salvage belongs to - Answer- Insurer A statement given by an insured following a loss is called - Answer- Proof of loss What is the difference between bond and insurance - Answer- Bond is agreement between three people When an insured and insurer are in disagreement regarding the amount of loss each will choose - Answer- Appraisal When two policy holders house burn down and they agree to give the proceeds to some after a loss, this is called - Answer- Assignment What is the definition of accident - Answer- Suddenly, unexpected, unforeseen Who set the rate for the insurance company - Answer- By individual company with their past experience The insurance company which is owned by its policy holders - Answer- Mutual Insurers Which of the following would be covered by inland marine insurance - Answer- Bridges What page would you find the insured name - Answer- Declaration page Which of the following provides temporary coverage until the insurance company approves coverage - Answer- A binder If an insured has a pair and set coverage and insures his set for $5000 and list one for $500, How much would the insurance pay if one is missing - Answer- $3000 Under the BOP coverage is extended within how many feet f