Insurance Licensing Exam
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1. Which would NOT be covered by the inside the premis- An employee caught steal-
es- robbery or safe burglary other property coverage? ing cash from the register
2. The primary purpose of a surety bond is to Make sure obligations are
fulfilled
3. An insurance agency could purchase an errors and The agency loses commis-
omission insurance policy which would provide pro- sion income from policies
tection in the event of any of the following events that were not issued by the
EXCEPT insurer
4. An uninsured motor vehicle includes all of the follow- A vehicle being used for
ing EXCEPT public livery
5. A bond is written for a set limit, and the surety will Penalty
be liable only for this amount of the limit. This limit is
known as the
6. Workers compensation statutes provide coverage for An employee of a medical
diseases that occur as a result of working in the em- facility who suffers from a
ployers working environment. Which of the following common cold
is an example of a disease that would NOT be covered
by such provisions
7. All of the following are factors in rating workers com- Sales
pensation insurance EXCEPT
8. The medical payments coverage in a personal auto The insured is injured
policy will pay reasonable medical expenses for all of while exiting a friends mo-
the following EXCEPT bile home
9. Submitting to a medical
exam when requested
, Insurance Licensing Exam
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In the event of a claim under a commercial general lia-
bility policy, the insured has all of the following duties
to the insurer EXCEPT
10. Which of the following special liability coverages will Directors and officers lia-
provide protection to managers of a corporation for bility
claims arising from wrongful act committed by the
manager while in an official capacity
11. A passenger in a friends car is injured while getting The drivers policy would
into the car. Which of the following statements would be primary
apply if both the passenger and the driver had med-
ical payments coverage under a personal auto policy?
12. The occurrence form trigger is based on which of the The date when injury or
following? damage occurs
13. All of the following are factors in rating workers com- Sales
pensation EXCEPT
14. Workers compensation rating is developed by apply- $100 of payroll
ing a rating bureau job classification rate to each
15. A meteorite hits the insureds car, causing damage. Other-than-collision
Under which of the following coverages in a personal
auto policy would this loss be paid?
16. An insured has $5,000 of medical coverage on a per- $14,000
sonal auto policy at the time of a covered accident.
The insured and two passengers are injured. Medical The limit is not more than
treatment costs $7,000 for the insured, $4,000 for the $5,000 per person, per
first passenger, and $8,000 for the second passenger. accident
, Insurance Licensing Exam
Study online at https://quizlet.com/_3l3p8a
How much will the policy pay under medical payments
coverage?
17. When an umbrella policy is broader than underlying The excess over the
insurance and it pays a loss that is not covered by the self-insured retention
underlying policy, it usually only pays
18. The party to a surety or fidelity bond who promises to Principal
fulfill the obligation is the
19. All of the following situations would be covered under The failure of an attorney
a professional liability policy EXCEPT to properly defend a client
due to his personal dislike
of the client
20. Professional liability coverage protects the insured Errors and omissions
against legal liability resulting from
21. Directors and officers liability insurance defends ac- Embezzlement
tions against a corporation or its officers and directors
alleging wrongful acts. With regard to the coverage
provided, wrongful acts include all of the following
EXCEPT
22. Which of the following IS considered a work-related Tom works as a painter in
injury/occupational disease under workers compen- an auto body shop. The
sation law? chemicals from the paint
aggravate toms asthma to
the point that he must
be hospitalized for several
days
23. Surety bonds are written for a definite limit called A bond penalty
Study online at https://quizlet.com/_3l3p8a
1. Which would NOT be covered by the inside the premis- An employee caught steal-
es- robbery or safe burglary other property coverage? ing cash from the register
2. The primary purpose of a surety bond is to Make sure obligations are
fulfilled
3. An insurance agency could purchase an errors and The agency loses commis-
omission insurance policy which would provide pro- sion income from policies
tection in the event of any of the following events that were not issued by the
EXCEPT insurer
4. An uninsured motor vehicle includes all of the follow- A vehicle being used for
ing EXCEPT public livery
5. A bond is written for a set limit, and the surety will Penalty
be liable only for this amount of the limit. This limit is
known as the
6. Workers compensation statutes provide coverage for An employee of a medical
diseases that occur as a result of working in the em- facility who suffers from a
ployers working environment. Which of the following common cold
is an example of a disease that would NOT be covered
by such provisions
7. All of the following are factors in rating workers com- Sales
pensation insurance EXCEPT
8. The medical payments coverage in a personal auto The insured is injured
policy will pay reasonable medical expenses for all of while exiting a friends mo-
the following EXCEPT bile home
9. Submitting to a medical
exam when requested
, Insurance Licensing Exam
Study online at https://quizlet.com/_3l3p8a
In the event of a claim under a commercial general lia-
bility policy, the insured has all of the following duties
to the insurer EXCEPT
10. Which of the following special liability coverages will Directors and officers lia-
provide protection to managers of a corporation for bility
claims arising from wrongful act committed by the
manager while in an official capacity
11. A passenger in a friends car is injured while getting The drivers policy would
into the car. Which of the following statements would be primary
apply if both the passenger and the driver had med-
ical payments coverage under a personal auto policy?
12. The occurrence form trigger is based on which of the The date when injury or
following? damage occurs
13. All of the following are factors in rating workers com- Sales
pensation EXCEPT
14. Workers compensation rating is developed by apply- $100 of payroll
ing a rating bureau job classification rate to each
15. A meteorite hits the insureds car, causing damage. Other-than-collision
Under which of the following coverages in a personal
auto policy would this loss be paid?
16. An insured has $5,000 of medical coverage on a per- $14,000
sonal auto policy at the time of a covered accident.
The insured and two passengers are injured. Medical The limit is not more than
treatment costs $7,000 for the insured, $4,000 for the $5,000 per person, per
first passenger, and $8,000 for the second passenger. accident
, Insurance Licensing Exam
Study online at https://quizlet.com/_3l3p8a
How much will the policy pay under medical payments
coverage?
17. When an umbrella policy is broader than underlying The excess over the
insurance and it pays a loss that is not covered by the self-insured retention
underlying policy, it usually only pays
18. The party to a surety or fidelity bond who promises to Principal
fulfill the obligation is the
19. All of the following situations would be covered under The failure of an attorney
a professional liability policy EXCEPT to properly defend a client
due to his personal dislike
of the client
20. Professional liability coverage protects the insured Errors and omissions
against legal liability resulting from
21. Directors and officers liability insurance defends ac- Embezzlement
tions against a corporation or its officers and directors
alleging wrongful acts. With regard to the coverage
provided, wrongful acts include all of the following
EXCEPT
22. Which of the following IS considered a work-related Tom works as a painter in
injury/occupational disease under workers compen- an auto body shop. The
sation law? chemicals from the paint
aggravate toms asthma to
the point that he must
be hospitalized for several
days
23. Surety bonds are written for a definite limit called A bond penalty
