Central Insurance School
The most accurate description of Pure Risk is which of the
following?
-
Insurabl of financial
-chance
e
loss
-only eligible if the insured can see the
damage
-not insurable correct answers
insurable
Which of the following can be found in
Definitions?
-Who is an
insured?
-Duties of the insured at time
of loss
-Intentionally causing damage to their
property
-Coverage territory correct answers Who is an
insured?
Which of the following can be found in
"Conditions"?
-Who is an
insured?
-Duties of the insured at time
of loss
-Intentionally causing damage to their
property
-Coverage territory correct answers Duties of the insured at
time of loss
All of the following choices are found on Declarations page
Except:
-Carrier's home
address
-Who the insurer will
pay
-date of
expiration
-exclusions correct answers
Exclusions
What is an "Exclusion"? correct answers Events not payable under
the policy
What is a Deposit Premium? correct answers A partial premium placed
as a downat the start of the
payment
policy
.
Which of the following best describes a "binder"?
-Policy was received by the insured
-Temporary insurance
-Exclusions from the written contract
-Requirement is that the policies must be bound in a bound book
correct answers Temporary insurance
The most accurate definition of a Contract of Adhesion is: correct
answersby
created contract
insurance company; insured cannot negotiate terms;
ambiguities in favor of
insure
d
, What is NOT a source of
underwriting?
-
Exclusions
-
Applicatio
-Inspection
n
Form
-Public Records correct answers
Exclusions
What section in the PAP describes payment to others if the insured
damages
correct others?
answers
Liability
Fire loss in the insured home would be considered? correct
answers peril
What is the definition of a "hazard"? correct answers increases the
likelihood of a loss
What type of risk is known for unconscious mental attitude (accident
proneness)?
-
Physical
-
Moral
-
Morale
-Coinsurance correct answers
Morale
If an employee steals from his/her employer, what kind of hazard does this
represent?
correct answers
Moral
A tree hits the insured's house. The damage is covered because of what
concept?
correct answers Direct
Loss
Spoilage of food resulting from loss of power is known as: correct
answers
Consequential
damage
Mortgage company rights include all
Except:
-Can pay the premium if not paid by
-Right of notification if insured terminates
insured
coverage
-Have the mortgage company name on claim
-Has NO rights under the insured's policy correct answers Has NO rights
check
under the
insured's
policy
Under Lender's Interest, what is a mortgagee? correct answers person
or financialwhich loans money on a real
institution
property
An insurer agrees in advance to a State Amount. This is known as
correct answers
Agreed
Value
Insured agrees to carry a certain amount of the property value in
insurance.
insured If the
is penalized because he does not maintain adequate coverage,
this is
as? knownanswers
correct
Coinsurance
The most accurate description of Pure Risk is which of the
following?
-
Insurabl of financial
-chance
e
loss
-only eligible if the insured can see the
damage
-not insurable correct answers
insurable
Which of the following can be found in
Definitions?
-Who is an
insured?
-Duties of the insured at time
of loss
-Intentionally causing damage to their
property
-Coverage territory correct answers Who is an
insured?
Which of the following can be found in
"Conditions"?
-Who is an
insured?
-Duties of the insured at time
of loss
-Intentionally causing damage to their
property
-Coverage territory correct answers Duties of the insured at
time of loss
All of the following choices are found on Declarations page
Except:
-Carrier's home
address
-Who the insurer will
pay
-date of
expiration
-exclusions correct answers
Exclusions
What is an "Exclusion"? correct answers Events not payable under
the policy
What is a Deposit Premium? correct answers A partial premium placed
as a downat the start of the
payment
policy
.
Which of the following best describes a "binder"?
-Policy was received by the insured
-Temporary insurance
-Exclusions from the written contract
-Requirement is that the policies must be bound in a bound book
correct answers Temporary insurance
The most accurate definition of a Contract of Adhesion is: correct
answersby
created contract
insurance company; insured cannot negotiate terms;
ambiguities in favor of
insure
d
, What is NOT a source of
underwriting?
-
Exclusions
-
Applicatio
-Inspection
n
Form
-Public Records correct answers
Exclusions
What section in the PAP describes payment to others if the insured
damages
correct others?
answers
Liability
Fire loss in the insured home would be considered? correct
answers peril
What is the definition of a "hazard"? correct answers increases the
likelihood of a loss
What type of risk is known for unconscious mental attitude (accident
proneness)?
-
Physical
-
Moral
-
Morale
-Coinsurance correct answers
Morale
If an employee steals from his/her employer, what kind of hazard does this
represent?
correct answers
Moral
A tree hits the insured's house. The damage is covered because of what
concept?
correct answers Direct
Loss
Spoilage of food resulting from loss of power is known as: correct
answers
Consequential
damage
Mortgage company rights include all
Except:
-Can pay the premium if not paid by
-Right of notification if insured terminates
insured
coverage
-Have the mortgage company name on claim
-Has NO rights under the insured's policy correct answers Has NO rights
check
under the
insured's
policy
Under Lender's Interest, what is a mortgagee? correct answers person
or financialwhich loans money on a real
institution
property
An insurer agrees in advance to a State Amount. This is known as
correct answers
Agreed
Value
Insured agrees to carry a certain amount of the property value in
insurance.
insured If the
is penalized because he does not maintain adequate coverage,
this is
as? knownanswers
correct
Coinsurance
