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Fundamentals of Insurance Practice exam C – Manitoba Questions and
Answers with Solutions UPDATED!!!
A Broker's license may be revoked if:
a) He is found guilty of impaired driving.
b) She does not hold a professional designation within 5 years.
c) He is guilty of fraud.
d) She is out of the province for more than six consecutive
months. - ANSWER c) He is guilty of fraud.
A building worth $200,000 is insured for $125,000 and the
policy contains an 80% coinsurance clause. A fire causes the
total building to be destroyed. The insurer will cover:
a) $97,662.50
b) $78,125
c) $100,000
d) $125,000 - ANSWER d) $125,000
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A building worth $360,000 is insured for $90,000 and the policy
contains an 80% coinsurance clause. A fire caused $72,000
damage. The insurer will cover.
a) $57,600
b) $22,500
c) $90,000
d) $72,000 - ANSWER b) $22,500
A comprehensive personal liability policy protects against claims
for the bodily injury and property damage arising out of:
a) Personal acts of insured, carelessness of insured's children
and ownership of certain type of boats and motorized vehicles
b) Personal acts of the insured, carelessness of insureds and
default in payment of debts
c) Personal acts of the insured ownership of certain boats and
ownership of automobiles
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d) Personal acts of the insured, poor upkeep of the insured's
dwelling and ice on the steps of the insured's premises. -
ANSWER a) Personal acts of insured, carelessness of insured's
children and ownership of certain type of boats and motorized
vehicles
A disability is a physical or mental inability to work. People can
be disabled due to:
a) Accidents
b) Sickness
c) Both A& B
d) Neither A nor B - ANSWER c) Both A& B
A Named perils form would cover which loss:
a) Damage to the carpet resulting from sewer back up.
b) Damage to the walls resulting from an earthquake.
c) Damage to the building resulting from an enemy military
bomb.
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d) Damage to the building resulting from the furnace backing
up, sending smoke through the
building. - ANSWER d) Damage to the building resulting from
the furnace backing up, sending smoke through the
building.
A peril is best defined as:
a) The chance of a loss
b) The occurrence of a loss
c) The cause off loss
d) The result of a loss - ANSWER c) The cause off loss
A physical hazard is:
a) A type of peril
b) The same as a moral hazard
c) A physical feature of a risk, which may give rise to a loss.
Fundamentals of Insurance Practice exam C – Manitoba Questions and
Answers with Solutions UPDATED!!!
A Broker's license may be revoked if:
a) He is found guilty of impaired driving.
b) She does not hold a professional designation within 5 years.
c) He is guilty of fraud.
d) She is out of the province for more than six consecutive
months. - ANSWER c) He is guilty of fraud.
A building worth $200,000 is insured for $125,000 and the
policy contains an 80% coinsurance clause. A fire causes the
total building to be destroyed. The insurer will cover:
a) $97,662.50
b) $78,125
c) $100,000
d) $125,000 - ANSWER d) $125,000
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A building worth $360,000 is insured for $90,000 and the policy
contains an 80% coinsurance clause. A fire caused $72,000
damage. The insurer will cover.
a) $57,600
b) $22,500
c) $90,000
d) $72,000 - ANSWER b) $22,500
A comprehensive personal liability policy protects against claims
for the bodily injury and property damage arising out of:
a) Personal acts of insured, carelessness of insured's children
and ownership of certain type of boats and motorized vehicles
b) Personal acts of the insured, carelessness of insureds and
default in payment of debts
c) Personal acts of the insured ownership of certain boats and
ownership of automobiles
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d) Personal acts of the insured, poor upkeep of the insured's
dwelling and ice on the steps of the insured's premises. -
ANSWER a) Personal acts of insured, carelessness of insured's
children and ownership of certain type of boats and motorized
vehicles
A disability is a physical or mental inability to work. People can
be disabled due to:
a) Accidents
b) Sickness
c) Both A& B
d) Neither A nor B - ANSWER c) Both A& B
A Named perils form would cover which loss:
a) Damage to the carpet resulting from sewer back up.
b) Damage to the walls resulting from an earthquake.
c) Damage to the building resulting from an enemy military
bomb.
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d) Damage to the building resulting from the furnace backing
up, sending smoke through the
building. - ANSWER d) Damage to the building resulting from
the furnace backing up, sending smoke through the
building.
A peril is best defined as:
a) The chance of a loss
b) The occurrence of a loss
c) The cause off loss
d) The result of a loss - ANSWER c) The cause off loss
A physical hazard is:
a) A type of peril
b) The same as a moral hazard
c) A physical feature of a risk, which may give rise to a loss.
