P&C Sample Test 1 Emily's Book
temporary insurance is effected through:
a. binders
b. endorsements
c. riders
d. waivers - Precise Answer ✔✔a
all of the following are part of the insurance contract EXCEPT:
a. declarations
b. waiver
c. exclusions
d. definitions - Precise Answer ✔✔b
any insurance wherein payment by the insurer will be paid directly to the insured or other named interests
is called:
a. liability insurance
b. specific insurance
c. casualty insurance
d. property insurance - Precise Answer ✔✔d
the contract where the obligation of the insurer to perform may be conditioned upon the insured satisfying
certain conditions is called:
a. indemnity contract
b. conditional contract
c. contract of adhesion
d. personal contact - Precise Answer ✔✔b
the contract wherein the parties are of unequal bargaining power and one party cannot negotiate the terms
and has to take the offer as made is called:
,a. conditional contract
b. personal contract
c. contract of adhesion
d. indemnity contract - Precise Answer ✔✔c
the contract where one person should not profit from the response by the policy is called:
a. personal contract
b. indemnity contract
c. conditional contract
d. contract of adhesion - Precise Answer ✔✔b
what must exist at the time of loss?
a. lender interests
b. proximate cause
c. insurable interests
d. coinsurance - Precise Answer ✔✔c
a contingency that may cause a loss is called
a. a peril
b. a hazard
c. a loss
d. a cause - Precise Answer ✔✔a
the following are supplementary payments under the personal auto policy except:
a. loss of earnings up to 200 per day
b. bail bonds up to 300
c. interest accruing after judgements
d. premiums on appeal bonds - Precise Answer ✔✔b
, the part of the PAP policy that provides coverage for bodily injury for a accident caused by a driver
without liability or with liability limits that do not cover the insured's damages is called:
a. medical payments
b. liability
c. uninsured motorist
d. collision - Precise Answer ✔✔c
Part D-Damage to Your Auto pays claims by:
a. paying the ACV or cost to repair
b. using the coinsurance formula
c. paying 80% of the repair cost
d. paying the ACV up to the limit stated in the policy - Precise Answer ✔✔a
all of the following are eligible for the PAP policy except:
a. individuals
b. related persons
c. corporations
d. unrelated persons who reside together - Precise Answer ✔✔c
when workers compensation benefits are payable, how is the Part B-Medical Payments applied?
a. MP are excess over WC
b. on a pro rata basis
c. WC is excess over MP
d. MP is excluded if WC benefits are payable - Precise Answer ✔✔d
How does Part D-Damage to Your Auto apply to a nonowned auto?
a. the broadest coverage applicable on your covered auto
b. does not cover nonowned
c. non owned is covered under Part C
d. applies if used by the NI's only - Precise Answer ✔✔a
temporary insurance is effected through:
a. binders
b. endorsements
c. riders
d. waivers - Precise Answer ✔✔a
all of the following are part of the insurance contract EXCEPT:
a. declarations
b. waiver
c. exclusions
d. definitions - Precise Answer ✔✔b
any insurance wherein payment by the insurer will be paid directly to the insured or other named interests
is called:
a. liability insurance
b. specific insurance
c. casualty insurance
d. property insurance - Precise Answer ✔✔d
the contract where the obligation of the insurer to perform may be conditioned upon the insured satisfying
certain conditions is called:
a. indemnity contract
b. conditional contract
c. contract of adhesion
d. personal contact - Precise Answer ✔✔b
the contract wherein the parties are of unequal bargaining power and one party cannot negotiate the terms
and has to take the offer as made is called:
,a. conditional contract
b. personal contract
c. contract of adhesion
d. indemnity contract - Precise Answer ✔✔c
the contract where one person should not profit from the response by the policy is called:
a. personal contract
b. indemnity contract
c. conditional contract
d. contract of adhesion - Precise Answer ✔✔b
what must exist at the time of loss?
a. lender interests
b. proximate cause
c. insurable interests
d. coinsurance - Precise Answer ✔✔c
a contingency that may cause a loss is called
a. a peril
b. a hazard
c. a loss
d. a cause - Precise Answer ✔✔a
the following are supplementary payments under the personal auto policy except:
a. loss of earnings up to 200 per day
b. bail bonds up to 300
c. interest accruing after judgements
d. premiums on appeal bonds - Precise Answer ✔✔b
, the part of the PAP policy that provides coverage for bodily injury for a accident caused by a driver
without liability or with liability limits that do not cover the insured's damages is called:
a. medical payments
b. liability
c. uninsured motorist
d. collision - Precise Answer ✔✔c
Part D-Damage to Your Auto pays claims by:
a. paying the ACV or cost to repair
b. using the coinsurance formula
c. paying 80% of the repair cost
d. paying the ACV up to the limit stated in the policy - Precise Answer ✔✔a
all of the following are eligible for the PAP policy except:
a. individuals
b. related persons
c. corporations
d. unrelated persons who reside together - Precise Answer ✔✔c
when workers compensation benefits are payable, how is the Part B-Medical Payments applied?
a. MP are excess over WC
b. on a pro rata basis
c. WC is excess over MP
d. MP is excluded if WC benefits are payable - Precise Answer ✔✔d
How does Part D-Damage to Your Auto apply to a nonowned auto?
a. the broadest coverage applicable on your covered auto
b. does not cover nonowned
c. non owned is covered under Part C
d. applies if used by the NI's only - Precise Answer ✔✔a
