FLORIDA ELECTRICAL BUSINESS (Actual Exam)187
QUESTIONS AND 100% Verified ANSWERS
Dram Shop Liability refers to:
Liquor Law Liability.
The insured has suffered a covered loss under his DP-3
dwelling form. He fails to protect the property from further
loss. The additional loss that occurs as a result of his inactions
may be denied because of what clause in the policy?
Neglect.
To be eligible for the New York assigned risk auto plan a
person must:
Hold a valid driver's license.
Any insurance adjuster whose license has been revoked for
cause will not be entitled to apply for any other insurance
license in New York until at least:
One Year.
,A typical benefit design for a long term care policy does not
include a:
Conditionally or optionally renewability feature.
In New York the workers compensation program is
administered by the Workers Compensation Board which
establishes guidelines for the program. Notice of injury or
death to a worker is required to be submitted to the employer
within what period of time?
30 Days.
Workers compensation policies also include employer's
liability coverage. If any employer fails to maintain the
equipment and an employee is injured, would it be covered
under this coverage?
Yes.
Fidelity bonds are typically written to be effective for a:
Continuous term without an expiration date.
One purpose of a deductible is to:
Eliminate small claims.
,If the insured has failed to pay the premium for a worker
compensation policy issued in New York, how many days
notice of cancellation must be sent to the insured?
A 10 day notice.
A ship owner wanting coverage in case crew members bring
liability suits for injuries sustained while working would
purchase:
Protection and Indemnity
Under workers compensation in New York, which of the
following does not raise the premium based on it being a
proportion of the charged premium?
Premium Discount.
What is an example of a moral hazard?
Embezzlement
If an insured is responsible for damaging a client's million
dollar shipment of products, would this coverage be covered
, by the commercial umbrella liability coverage under BI and PD
coverage?
Yes.
A homeowner with personal property insured for $60,000 had
a fire which destroyed everything. The total value of the
personal property at the time of the loss was only $50,000.
What principle would be violated if her insurer paid her more
than $50,000?
Principle of Indemnity.
What is the appropriate manner in which to sign a "release of
all claims?"
Must use full legal name.
Jane becomes injured in an auto accident caused when she
took her eyes off the road to send a text message on her cell
phone. This is an example of a:
Morale Hazard.
The deductible on the Equipment Breakdown form can be
stated in what 3 ways?
Fixed Dollar Amount, Time Deductible, and Percentage of Loss.
QUESTIONS AND 100% Verified ANSWERS
Dram Shop Liability refers to:
Liquor Law Liability.
The insured has suffered a covered loss under his DP-3
dwelling form. He fails to protect the property from further
loss. The additional loss that occurs as a result of his inactions
may be denied because of what clause in the policy?
Neglect.
To be eligible for the New York assigned risk auto plan a
person must:
Hold a valid driver's license.
Any insurance adjuster whose license has been revoked for
cause will not be entitled to apply for any other insurance
license in New York until at least:
One Year.
,A typical benefit design for a long term care policy does not
include a:
Conditionally or optionally renewability feature.
In New York the workers compensation program is
administered by the Workers Compensation Board which
establishes guidelines for the program. Notice of injury or
death to a worker is required to be submitted to the employer
within what period of time?
30 Days.
Workers compensation policies also include employer's
liability coverage. If any employer fails to maintain the
equipment and an employee is injured, would it be covered
under this coverage?
Yes.
Fidelity bonds are typically written to be effective for a:
Continuous term without an expiration date.
One purpose of a deductible is to:
Eliminate small claims.
,If the insured has failed to pay the premium for a worker
compensation policy issued in New York, how many days
notice of cancellation must be sent to the insured?
A 10 day notice.
A ship owner wanting coverage in case crew members bring
liability suits for injuries sustained while working would
purchase:
Protection and Indemnity
Under workers compensation in New York, which of the
following does not raise the premium based on it being a
proportion of the charged premium?
Premium Discount.
What is an example of a moral hazard?
Embezzlement
If an insured is responsible for damaging a client's million
dollar shipment of products, would this coverage be covered
, by the commercial umbrella liability coverage under BI and PD
coverage?
Yes.
A homeowner with personal property insured for $60,000 had
a fire which destroyed everything. The total value of the
personal property at the time of the loss was only $50,000.
What principle would be violated if her insurer paid her more
than $50,000?
Principle of Indemnity.
What is the appropriate manner in which to sign a "release of
all claims?"
Must use full legal name.
Jane becomes injured in an auto accident caused when she
took her eyes off the road to send a text message on her cell
phone. This is an example of a:
Morale Hazard.
The deductible on the Equipment Breakdown form can be
stated in what 3 ways?
Fixed Dollar Amount, Time Deductible, and Percentage of Loss.
