Webce life health florida exam (actual
exam)questions,answers 2024 – 2025
Beau, a contractor on a large construction project, signs a contract in which,
among other things, he agrees not to sue Mack if Mack is responsible for injury to
any of Beau's employees. Having signed the contract, how should Beau also
modify his workers compensation policy? - ANSWERS-add the Waiver of Our Right
To Recover from Others Endorsement (WC 00 03 13)
Debbie is not legally required to provide workers compensation benefits to the
commissioned real estate brokers she employs. What, if anything, can she do to
ensure that these brokers have access to statutory workers compensation
benefits if they are injured while working for her? - ANSWERS-Debbie can add the
Voluntary Compensation and Employers Liability Coverage Endorsement (WC 00
03 11 A) to her workers compensation policy
,In most states, what agency serves as the filing agency and rating organization for
workers compensation and employers liability insurance? - ANSWERS-National
Council on Compensation Insurance
Which of the following statements about Personal Injury Protection (PIP)
insurance is correct? - ANSWERS-covers the insured and his or her children and
household
Holly routinely charges her clients an extra amount in addition to the premium
stated in the insurance policy to cover her own personal administrative expenses.
What is true about Holly's actions? - ANSWERS-They are unlawful
In which of the following cases would the applicant be eligible for coverage
through an insurer in the residual insurance market? - ANSWERS-The applicant is
entitled to insurance but cannot buy it through the voluntary market
Personal Injury Protection (PIP) covers the insured owner of a motor vehicle
under what conditions? - ANSWERS-Without regard to fault in an accident with a
motor vehicle
Rusty's employer, following the kidnapper's instructions, sent a messenger to
deliver $250,000 to the kidnapper who promised to release Rusty unharmed.
However, the messenger was ambushed and the ransom payment was lost.
,Which coverage of the employer's kidnap/ransom and extortion policy will
reimburse the employer for its $250,000 loss due to the ambush? - ANSWERS-in-
transit delivery of property
The lessees of safe deposit boxes endorsement to a commercial crime policy is
most likely to be used to cover: - ANSWERS-an insured's property that is kept in a
bank safe deposit box
Private School's headmaster was distressed when he learned that Agnes, a full-
time teacher, helped students cheat on a college entry exam. He scolded Agnes
privately but, to avoid a scandal, did nothing further. A few months later he
caught Agnes stealing school equipment and made a claim under the school's
employee dishonesty coverage. Is the loss covered? - ANSWERS-No, because the
termination as to any employee provision ended coverage for Agnes once the
headmaster learned of her first dishonest act
Frieda Hotel's crime policy includes a guests' property endorsement that covers
all the following claims or losses EXCEPT - ANSWERS-property is stolen from a
guest's car while it is parked in Frieda's lot
Bert soon found a buyer for the delivery van his business no longer needed. The
buyer paid him $5,000 in cash. When Bert tried to deposit the cash, his bank told
him that the bills are not real money. What insuring agreement in Bert's crime
policy might cover his $5,000 loss? - ANSWERS-money orders and counterfeit
money
Blue Company's crime policy includes these coverages: (1) inside the premises—
theft of money and securities, (2) inside the premises—robbery or safe burglary
, of other property, and (3) computer fraud. While Blue's office was open for
business, somebody walked in from the street and stole a computer. Which of
Blue's coverages, if any, applies to this loss? - ANSWERS-inside the premises
Upon learning that Bryant, a key executive, has been kidnapped, Bryant's
employer contacted the security firm listed in the declarations of its
kidnap/ransom and extortion policy. The security firm was able to negotiate
Bryant's release and billed his employer $250,000 for its services. Which coverage
of the employer's kidnap/ransom and extortion policy will reimburse the
employer for its $250,000 loss? - ANSWERS-kidnap/ransom and extortion—
expenses incurred
Esther, an underwriter for QRS Insurance Company, is not able to provide the
coverage requested in Benny's insurance application. Esther can reject the
application, or she can - ANSWERS-Make a counteroffer
When applying for a businessowners insurance policy, Brandy did not mention
that hazardous and illegal activity that goes on in the backroom of her shop
because she realized no insurer that knew about it would insure her business.
What is Brandy's failure to disclose this activity considered? - ANSWERS-
Concealment
Haze's store has an automatic sprinkler system that will be activated by a fire. In
exchange for the reduced fire insurance premium, she signs a document stating
that the automatic sprinkler system will always be in operating condition. What is
this statement? - ANSWERS-A Warranty
exam)questions,answers 2024 – 2025
Beau, a contractor on a large construction project, signs a contract in which,
among other things, he agrees not to sue Mack if Mack is responsible for injury to
any of Beau's employees. Having signed the contract, how should Beau also
modify his workers compensation policy? - ANSWERS-add the Waiver of Our Right
To Recover from Others Endorsement (WC 00 03 13)
Debbie is not legally required to provide workers compensation benefits to the
commissioned real estate brokers she employs. What, if anything, can she do to
ensure that these brokers have access to statutory workers compensation
benefits if they are injured while working for her? - ANSWERS-Debbie can add the
Voluntary Compensation and Employers Liability Coverage Endorsement (WC 00
03 11 A) to her workers compensation policy
,In most states, what agency serves as the filing agency and rating organization for
workers compensation and employers liability insurance? - ANSWERS-National
Council on Compensation Insurance
Which of the following statements about Personal Injury Protection (PIP)
insurance is correct? - ANSWERS-covers the insured and his or her children and
household
Holly routinely charges her clients an extra amount in addition to the premium
stated in the insurance policy to cover her own personal administrative expenses.
What is true about Holly's actions? - ANSWERS-They are unlawful
In which of the following cases would the applicant be eligible for coverage
through an insurer in the residual insurance market? - ANSWERS-The applicant is
entitled to insurance but cannot buy it through the voluntary market
Personal Injury Protection (PIP) covers the insured owner of a motor vehicle
under what conditions? - ANSWERS-Without regard to fault in an accident with a
motor vehicle
Rusty's employer, following the kidnapper's instructions, sent a messenger to
deliver $250,000 to the kidnapper who promised to release Rusty unharmed.
However, the messenger was ambushed and the ransom payment was lost.
,Which coverage of the employer's kidnap/ransom and extortion policy will
reimburse the employer for its $250,000 loss due to the ambush? - ANSWERS-in-
transit delivery of property
The lessees of safe deposit boxes endorsement to a commercial crime policy is
most likely to be used to cover: - ANSWERS-an insured's property that is kept in a
bank safe deposit box
Private School's headmaster was distressed when he learned that Agnes, a full-
time teacher, helped students cheat on a college entry exam. He scolded Agnes
privately but, to avoid a scandal, did nothing further. A few months later he
caught Agnes stealing school equipment and made a claim under the school's
employee dishonesty coverage. Is the loss covered? - ANSWERS-No, because the
termination as to any employee provision ended coverage for Agnes once the
headmaster learned of her first dishonest act
Frieda Hotel's crime policy includes a guests' property endorsement that covers
all the following claims or losses EXCEPT - ANSWERS-property is stolen from a
guest's car while it is parked in Frieda's lot
Bert soon found a buyer for the delivery van his business no longer needed. The
buyer paid him $5,000 in cash. When Bert tried to deposit the cash, his bank told
him that the bills are not real money. What insuring agreement in Bert's crime
policy might cover his $5,000 loss? - ANSWERS-money orders and counterfeit
money
Blue Company's crime policy includes these coverages: (1) inside the premises—
theft of money and securities, (2) inside the premises—robbery or safe burglary
, of other property, and (3) computer fraud. While Blue's office was open for
business, somebody walked in from the street and stole a computer. Which of
Blue's coverages, if any, applies to this loss? - ANSWERS-inside the premises
Upon learning that Bryant, a key executive, has been kidnapped, Bryant's
employer contacted the security firm listed in the declarations of its
kidnap/ransom and extortion policy. The security firm was able to negotiate
Bryant's release and billed his employer $250,000 for its services. Which coverage
of the employer's kidnap/ransom and extortion policy will reimburse the
employer for its $250,000 loss? - ANSWERS-kidnap/ransom and extortion—
expenses incurred
Esther, an underwriter for QRS Insurance Company, is not able to provide the
coverage requested in Benny's insurance application. Esther can reject the
application, or she can - ANSWERS-Make a counteroffer
When applying for a businessowners insurance policy, Brandy did not mention
that hazardous and illegal activity that goes on in the backroom of her shop
because she realized no insurer that knew about it would insure her business.
What is Brandy's failure to disclose this activity considered? - ANSWERS-
Concealment
Haze's store has an automatic sprinkler system that will be activated by a fire. In
exchange for the reduced fire insurance premium, she signs a document stating
that the automatic sprinkler system will always be in operating condition. What is
this statement? - ANSWERS-A Warranty
