CLC Certification Exam New Latest Version
Best Studying Material with All Questions,
Exams of Nursing LATEST UPDATE 2024-2025
With regard to binders, which of the following statements is correct?
A
Binders are valid for 15 days after the policy is issued
B
A binder may be oral or written
C
A binder may be canceled by the insured with 2 days' notice
D
A Binder is not usually valid for more than 90 days - ANSWER>>b ?
Which of the following is NOT considered a fiduciary responsibility of an agent in Florida?
A
Have knowledge of state laws
B
Accept premiums on behalf of the insurer
C
Maintain funds belonging to the insurer in a separate account
D
Use insurer funds to cover agency expenses - ANSWER>>D
Which of the following describes a date after which an occurrence can take place and be covered
under the Claims-Made Form?
A
The Expiration Date
B
The Countersignature Date
C
The Effective Date
D
,The Retroactive Date - ANSWER>>D - The Retroactive Date is the date that defines the extent of
coverage in time under a Claims-Made Form. Claims resulting from occurrences prior to the
policy's stated retroactive date are excluded.
Which concept is designed to eliminate small claims and help in reducing the cost of insurance?
A
Exclusions
B
Franchise
C
Coinsurance
D
Deductibles - ANSWER>>D
Which of the following types of risk are insurable?
A
Pure
B
Whole
C
Partial
D
Speculative - ANSWER>>A - Only pure risks are insurable because they involve the chance of loss
only.
Who are the owners of a mutual insurance company?
A
Stockholders
B
Policyholders
C
Underwriters
D
Directors - ANSWER>>B
,Under medical benefits for Workers' Compensation, what type of coverage is provided for
injuries that occur while the employee is on the job?
A
Full medical benefits, up to $100,000
B
Full medical benefits, up to $500,000
C
Full medical benefits, up to $250,000
D
Unlimited coverage - ANSWER>>D ?
Which of the following is not eligible to be written on a Businessowners Policy?
A
An auto dealership
B
A print shop
C
A shoe repair shop
D
A barber shop - ANSWER>>A ?
What is another name for the Homeowners Form HO-4?
A
Tenants Form
B
Special Form
C
Modified Coverage Form
D
Broad Form - ANSWER>>A
Which of the following is not considered a covered peril under the Basic Cause of Loss form of
the Commercial Property policy?
A
Sprinkler leakage
, B
Volcanic action
C
Sinkhole collapse
D
Flood - ANSWER>>C ?
An insurance agent is in the habit of offering potential clients a 10% premium discount on the
first year's premium if they will buy their insurance from him instead of one of his competitors.
The agent is guilty of:
A
Defamation
B
Rebating
C
Coercion
D
Twisting - ANSWER>>B
Marie was mugged on the street when a stranger grabbed her purse and threatened to knock her
down. This act describes which of the following?
A
Larceny
B
Theft
C
Burglary
D
Robbery - ANSWER>>D
An award to an injured party for compensatory damages of actual known expenses such as loss
of earnings is known as:
A
General damages
B
Medical payments
Best Studying Material with All Questions,
Exams of Nursing LATEST UPDATE 2024-2025
With regard to binders, which of the following statements is correct?
A
Binders are valid for 15 days after the policy is issued
B
A binder may be oral or written
C
A binder may be canceled by the insured with 2 days' notice
D
A Binder is not usually valid for more than 90 days - ANSWER>>b ?
Which of the following is NOT considered a fiduciary responsibility of an agent in Florida?
A
Have knowledge of state laws
B
Accept premiums on behalf of the insurer
C
Maintain funds belonging to the insurer in a separate account
D
Use insurer funds to cover agency expenses - ANSWER>>D
Which of the following describes a date after which an occurrence can take place and be covered
under the Claims-Made Form?
A
The Expiration Date
B
The Countersignature Date
C
The Effective Date
D
,The Retroactive Date - ANSWER>>D - The Retroactive Date is the date that defines the extent of
coverage in time under a Claims-Made Form. Claims resulting from occurrences prior to the
policy's stated retroactive date are excluded.
Which concept is designed to eliminate small claims and help in reducing the cost of insurance?
A
Exclusions
B
Franchise
C
Coinsurance
D
Deductibles - ANSWER>>D
Which of the following types of risk are insurable?
A
Pure
B
Whole
C
Partial
D
Speculative - ANSWER>>A - Only pure risks are insurable because they involve the chance of loss
only.
Who are the owners of a mutual insurance company?
A
Stockholders
B
Policyholders
C
Underwriters
D
Directors - ANSWER>>B
,Under medical benefits for Workers' Compensation, what type of coverage is provided for
injuries that occur while the employee is on the job?
A
Full medical benefits, up to $100,000
B
Full medical benefits, up to $500,000
C
Full medical benefits, up to $250,000
D
Unlimited coverage - ANSWER>>D ?
Which of the following is not eligible to be written on a Businessowners Policy?
A
An auto dealership
B
A print shop
C
A shoe repair shop
D
A barber shop - ANSWER>>A ?
What is another name for the Homeowners Form HO-4?
A
Tenants Form
B
Special Form
C
Modified Coverage Form
D
Broad Form - ANSWER>>A
Which of the following is not considered a covered peril under the Basic Cause of Loss form of
the Commercial Property policy?
A
Sprinkler leakage
, B
Volcanic action
C
Sinkhole collapse
D
Flood - ANSWER>>C ?
An insurance agent is in the habit of offering potential clients a 10% premium discount on the
first year's premium if they will buy their insurance from him instead of one of his competitors.
The agent is guilty of:
A
Defamation
B
Rebating
C
Coercion
D
Twisting - ANSWER>>B
Marie was mugged on the street when a stranger grabbed her purse and threatened to knock her
down. This act describes which of the following?
A
Larceny
B
Theft
C
Burglary
D
Robbery - ANSWER>>D
An award to an injured party for compensatory damages of actual known expenses such as loss
of earnings is known as:
A
General damages
B
Medical payments
