Examfx practice test With Questions And Answers 100%
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The part of the policy that sets forth the rules of conduct, duties, and obligations of the
parties is called the - ANSWER>>Conditions
What type of information would be found in a policy's insuring agreement? -
ANSWER>>Renewal dates
A producer has been notified by the commissioner to stop using an unapproved trade
name. How many days does the producer have to change the trade name before facing
a fine? - ANSWER>>10 days
Homeowners policies provide coverage for - ANSWER>>Business property while on
the residence premises
The Pro rata liability clause is designed to protect the principle of -
ANSWER>>Indemnity
When a resident producer changes his residence address, the Insurance Department
must be notified within - ANSWER>>30 days
A building is insured, but no one has lived or worked in it for 10 years. The building is
completely empty of any furniture or personal belongings. From an Insurance
standpoint, the building is considered. - ANSWER>>Vacant
An insurer publishes intimidating brochures that portray the insurer's competitions as
financially and professionally unstable. Which of of the following best describes this
act. - ANSWER>>Legal, under any circumstances
, Which bonds are required by courts whenever someone seeks a court order stating
another person must or must not dot something? - ANSWER>>Injunction bond
In comparison to consumer reports, which of the following describes a unique
characteristic of investigative consumer reports? - ANSWER>>The customer's
associates, friends, and neighbors provide the report's data.
An insured relocated to another state for work. However, she still owns and insurers a
house in this state, but has had one living in it for 3 months. She is also storing some
of furniture and clothes in the house. From an insurance standpoint, the insured's
house is considered? - ANSWER>>Unoccupied
If a farm building or structure is vacant or unoccupied, which is true? - ANSWER>>If for
120 consecutive days, the limits applicable to the building and its contents are reduced
by 50%
Which loss listed below would be fully covered by a homeowners policy? -
ANSWER>>$2,000 silver tea set stolen
A specific coverage part is listed on the commercial package policy declerations page,
but there is no premium shown. What does that mean, - ANSWER>>There is no
coverage.
With respect to auto insurance, the term owned autos includes all of the following
EXCEPT: - ANSWER>>A pickup or van titled to and used in the named insured's
business
A deli owner has a businessowners liability policy. When a customer slipped and hurt
herself at the deli, the liability policy paid for medical expenses. The customer,
however, is now suing the business owner because she claims there was no caution
sign warning her that the floor was wet. What is the insurer obligated to do. -
ANSWER>>Pay to defend the policy owner in the lawsuit because liability coverage
contains a duty-to-defend provision
Verifed Already Graded A Latest Update
The part of the policy that sets forth the rules of conduct, duties, and obligations of the
parties is called the - ANSWER>>Conditions
What type of information would be found in a policy's insuring agreement? -
ANSWER>>Renewal dates
A producer has been notified by the commissioner to stop using an unapproved trade
name. How many days does the producer have to change the trade name before facing
a fine? - ANSWER>>10 days
Homeowners policies provide coverage for - ANSWER>>Business property while on
the residence premises
The Pro rata liability clause is designed to protect the principle of -
ANSWER>>Indemnity
When a resident producer changes his residence address, the Insurance Department
must be notified within - ANSWER>>30 days
A building is insured, but no one has lived or worked in it for 10 years. The building is
completely empty of any furniture or personal belongings. From an Insurance
standpoint, the building is considered. - ANSWER>>Vacant
An insurer publishes intimidating brochures that portray the insurer's competitions as
financially and professionally unstable. Which of of the following best describes this
act. - ANSWER>>Legal, under any circumstances
, Which bonds are required by courts whenever someone seeks a court order stating
another person must or must not dot something? - ANSWER>>Injunction bond
In comparison to consumer reports, which of the following describes a unique
characteristic of investigative consumer reports? - ANSWER>>The customer's
associates, friends, and neighbors provide the report's data.
An insured relocated to another state for work. However, she still owns and insurers a
house in this state, but has had one living in it for 3 months. She is also storing some
of furniture and clothes in the house. From an insurance standpoint, the insured's
house is considered? - ANSWER>>Unoccupied
If a farm building or structure is vacant or unoccupied, which is true? - ANSWER>>If for
120 consecutive days, the limits applicable to the building and its contents are reduced
by 50%
Which loss listed below would be fully covered by a homeowners policy? -
ANSWER>>$2,000 silver tea set stolen
A specific coverage part is listed on the commercial package policy declerations page,
but there is no premium shown. What does that mean, - ANSWER>>There is no
coverage.
With respect to auto insurance, the term owned autos includes all of the following
EXCEPT: - ANSWER>>A pickup or van titled to and used in the named insured's
business
A deli owner has a businessowners liability policy. When a customer slipped and hurt
herself at the deli, the liability policy paid for medical expenses. The customer,
however, is now suing the business owner because she claims there was no caution
sign warning her that the floor was wet. What is the insurer obligated to do. -
ANSWER>>Pay to defend the policy owner in the lawsuit because liability coverage
contains a duty-to-defend provision
