OTL Exam Questions – Study Guide and Exam Preparation Material
Which document is evidence of a contract and states the exact terms and provisions of the
agreement between the insured and the insurer? - correct answer ✔✔Insurance policy
Which coverages are included under the carsharing commercial insurance policy - correct
answer ✔✔- Third-party liability, accident benefits, uninsured automobile, and physical damage
(If it helps remember TAUP)
1. What is not a function of the OPCF 6b- school bus coverage - correct answer ✔✔Gives
specific coverage for bodily injury to passengers and damage to their property
1. Under the OAP 1 which endorsement gives permission to purchase insurance on a vehicle
that is being leased - correct answer ✔✔- OPCF 5 ( Think of the HIGH 5)
1. What type of coverage does a mobile home policy provide - correct answer ✔✔- Named
perils on the building and content. NOT covered while being MOVED
1. What act establishes and governs the automobile statutory conditions - correct answer
✔✔The Insurance Act (stat conditions is always taken care with the insurance act)
1. In Ontario, who is responsible for approving the standard automobile policy and related
forms? - correct answer ✔✔- The Provincial Superintendent of Insurance
1. What is the purpose of the Compulsory Automobile Act - correct answer ✔✔- Requires all
vehicles to be insured
1. Who concepts reinforce the principle of indemnity in ensuring a fair and proper
reimbursement for insured - correct answer ✔✔- Salvage, subrogation and contribution
Which document is evidence of a contract and states the exact terms and provisions of the
agreement between the insured and the insurer? - correct answer ✔✔Insurance policy
Which coverages are included under the carsharing commercial insurance policy - correct
answer ✔✔- Third-party liability, accident benefits, uninsured automobile, and physical damage
(If it helps remember TAUP)
1. What is not a function of the OPCF 6b- school bus coverage - correct answer ✔✔Gives
specific coverage for bodily injury to passengers and damage to their property
1. Under the OAP 1 which endorsement gives permission to purchase insurance on a vehicle
that is being leased - correct answer ✔✔- OPCF 5 ( Think of the HIGH 5)
1. What type of coverage does a mobile home policy provide - correct answer ✔✔- Named
perils on the building and content. NOT covered while being MOVED
1. What act establishes and governs the automobile statutory conditions - correct answer
✔✔The Insurance Act (stat conditions is always taken care with the insurance act)
1. In Ontario, who is responsible for approving the standard automobile policy and related
forms? - correct answer ✔✔- The Provincial Superintendent of Insurance
1. What is the purpose of the Compulsory Automobile Act - correct answer ✔✔- Requires all
vehicles to be insured
1. Who concepts reinforce the principle of indemnity in ensuring a fair and proper
reimbursement for insured - correct answer ✔✔- Salvage, subrogation and contribution
