PNC EXAM QUESTIONS

PNC EXAM QUESTIONS Insurers must file all rates and forms for Commissioner's approval within how many days prior to use? - 60 days An applicant properly notifies her insurer of a straightforward claim, but the insurer waits an exceedingly long time to process it. Which of the below terms best describes the behavior of the insurer? - Unfair claims settlement practice An insurance agent wants for a client to replace her current annuities plan with another one. He presents the new one in an incomplete and dishonest way, which makes the new contract seem far more appealing than the original one. The policyowner ends up surrendering her original contract and replacing it with the new one. Which term best describes what the agent did? - Twisting How long must producer maintain records of continuing education course completion? - 4 years On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. The company is guilty of - Misrepresentation If the actual values exceed the limit of insurance, the businessowners policy (BOP) contains a seasonal increase provision that automatically increases the limit of insurance for business personal property by - 25% Which of the following is the Fair Rental Value coverage in the dwelling policy? - Coverage D The business income form excludes coverage for the following: - off-premises services interruption, finished stock exclusion, antenna exclusion, delay exclusion (delay is caused by the interference of strikers), and loss of privilege. The difference in the contents coverage on an HO-3 and HO-5? - Contents are covered open peril on HO-5, and named peril on HO-3. -Replacement cost coverage is available only by endorsement to either form. The liability coverage of the businessowners policy is written on a ...? - Businessowners liability coverage form An insured hits a deer and crashes his car into a tree. The total damage to the vehicle is $6,000. How will this loss be covered? - Because the proximate cause of the loss was contact with an animal, all of the $6,000 in damages would be paid under other-than-collision coverage.