OTL EXAM PRACTICE QUESTIONS
WITH 100% VERIFIED ANSWERS!!
1 of 40
Term
What coverage does the OPCF 44R—Family Protection endorsement
provide?
Select one:
a. Protection when the insured is at-fault and is inadequately
insured to cover the third party's claims
b. Protection when insured is not at-fault and is inadequately
insured to cover the third party's claims
c. Protection when a third party is not at-fault and the insured
has inadequate insurance to cover the insured's claims
, d. Protection when a third party is at-fault and is
inadequately insured to cover the insured's claims
Give this one a try later!
c. Protection when a third party is not at-fault and the insured
has inadequate insurance to cover the insured's claims
c. Lee owns a vehicle; his name is listed on the registration and he is the only
driver of the vehicle. The registered owner is the person whose name appears
on the ownership registration of the vehicle, while the actual owner is, for
example, the person who primarily drives the vehicle.
c. With the Purchase of an endorsement - Coverage for loss or damage caused
by earthquake, landslide, snowslide, volcanic eruption, and other earth
movements may be added by endorsement.
d. She is automatically covered, subject to certain restrictions, if her parents have
a comprehensive homeowners policy.
Coverage C—Personal Property of the comprehensive homeowners policy
includes extension of coverage, up to a certain limit, to include the personal
property of a student insured under the policy but temporarily living away from
home to attend school. A student in residence would not require tenant
insurance and universities do not provide content coverage for students.
Don't know?
2 of 40
Term
Is there insurance coverage under OAP 1 when the ridesharing driver
has accepted a ride and is driving to the rider's pick-up location?
Select one:
, a. No, it is insured by the rider
b.Yes, it is not part of the commercial transaction
c.Yes, it is similar to commuting to work
d. No, It is considered a part of the excluded commercial transaction
Give this one a try later!
a.Yes, at a minimum some b.Communicate and document
accident benefits would be consistently and thoroughly
available.
a. No, using or permitting the use of d. No, It is considered a part
his vehicle in a race or speed test is of the excluded
excluded. commercial transaction
Don't know?
3 of 40
Term
Which statement best describes the similarities of the Statutory
Conditions for fire insurance policies across Canada?
Select one:
a.They are uniform in the provinces but different in the territories
b.They are uniform in all provinces
c.They are uniform in the common law provinces
d.They are uniform in the territories but different in the provinces
Give this one a try later!
, a. It is difficult to detect, eliminate, c. They are uniform in
or reduce the common law
provinces
c. To manage the evolving uses d. If the applicant doesn't meet
of the automobiles in society any insurer's underwriting rules
Don't know?
4 of 40
Term
When an insurance intermediary uses a risk management
approach in setting up insurance for a client, what is he providing
the client? Select one:
a.As many coverage options as possible so the client has lots of
choices
b.The same policy and coverages at a lower rate
c.The same policy and coverages, but with fewer exclusions
d. Help to identify risks and determine the necessary coverage limits
Give this one a try later!
d. Help to identify risks c. Provides for the pro rata
and determine the distribution of insurance when
necessary coverage multiple structures are insured
limits
b.Communicate and document a. If the instrument is used for
consistently and thoroughly personal or professional purposes
Don't know?
WITH 100% VERIFIED ANSWERS!!
1 of 40
Term
What coverage does the OPCF 44R—Family Protection endorsement
provide?
Select one:
a. Protection when the insured is at-fault and is inadequately
insured to cover the third party's claims
b. Protection when insured is not at-fault and is inadequately
insured to cover the third party's claims
c. Protection when a third party is not at-fault and the insured
has inadequate insurance to cover the insured's claims
, d. Protection when a third party is at-fault and is
inadequately insured to cover the insured's claims
Give this one a try later!
c. Protection when a third party is not at-fault and the insured
has inadequate insurance to cover the insured's claims
c. Lee owns a vehicle; his name is listed on the registration and he is the only
driver of the vehicle. The registered owner is the person whose name appears
on the ownership registration of the vehicle, while the actual owner is, for
example, the person who primarily drives the vehicle.
c. With the Purchase of an endorsement - Coverage for loss or damage caused
by earthquake, landslide, snowslide, volcanic eruption, and other earth
movements may be added by endorsement.
d. She is automatically covered, subject to certain restrictions, if her parents have
a comprehensive homeowners policy.
Coverage C—Personal Property of the comprehensive homeowners policy
includes extension of coverage, up to a certain limit, to include the personal
property of a student insured under the policy but temporarily living away from
home to attend school. A student in residence would not require tenant
insurance and universities do not provide content coverage for students.
Don't know?
2 of 40
Term
Is there insurance coverage under OAP 1 when the ridesharing driver
has accepted a ride and is driving to the rider's pick-up location?
Select one:
, a. No, it is insured by the rider
b.Yes, it is not part of the commercial transaction
c.Yes, it is similar to commuting to work
d. No, It is considered a part of the excluded commercial transaction
Give this one a try later!
a.Yes, at a minimum some b.Communicate and document
accident benefits would be consistently and thoroughly
available.
a. No, using or permitting the use of d. No, It is considered a part
his vehicle in a race or speed test is of the excluded
excluded. commercial transaction
Don't know?
3 of 40
Term
Which statement best describes the similarities of the Statutory
Conditions for fire insurance policies across Canada?
Select one:
a.They are uniform in the provinces but different in the territories
b.They are uniform in all provinces
c.They are uniform in the common law provinces
d.They are uniform in the territories but different in the provinces
Give this one a try later!
, a. It is difficult to detect, eliminate, c. They are uniform in
or reduce the common law
provinces
c. To manage the evolving uses d. If the applicant doesn't meet
of the automobiles in society any insurer's underwriting rules
Don't know?
4 of 40
Term
When an insurance intermediary uses a risk management
approach in setting up insurance for a client, what is he providing
the client? Select one:
a.As many coverage options as possible so the client has lots of
choices
b.The same policy and coverages at a lower rate
c.The same policy and coverages, but with fewer exclusions
d. Help to identify risks and determine the necessary coverage limits
Give this one a try later!
d. Help to identify risks c. Provides for the pro rata
and determine the distribution of insurance when
necessary coverage multiple structures are insured
limits
b.Communicate and document a. If the instrument is used for
consistently and thoroughly personal or professional purposes
Don't know?
