1. Premium payments received by a broker-agent from clients purchasing au-
tomobile insurance may be maintained by the licensee in any of the following
investments EXCEPT?
1. High-yield stocks
mailto:https://www.stuvia.com/en-us/user/techgrades
, 2. Treasury certificates
3. Repurchase agreements
4. US Government bonds ANS >>> High-yield stocks
2. Which of the following is eligible for a Business owners Policy?
1. A vacant building
2. A credit union
3. A furniture store
4. A sports bar ANS >>> A furniture store
3. "All risk" coverage is an old insurance term that, when used, refers to a ?
1. Comprehensive liability coverage
mailto:https://www.stuvia.com/en-us/user/techgrades
, 2. Named peril property coverage
3. Property coverage that does not include coverage for damage caused by
any peril
4. Policy the contains no excluded perils ANS >>> Property coverage that does not
include coverage for damage caused by any peril
4. If an employee embezzles $10,000 from an insured's company, which type
of insurance would the employer need for this loss to be covered?
1. Allied lines insurance
2. Business income insurance
3. General liability insurance
4. Crime insurance ANS >>> Crime insurance
5. What is one difference between DP-2 and a DP-3?
mailto:https://www.stuvia.com/en-us/user/techgrades
, 1. The limit of liability under coverage D
2. The inside coverage limit for specified personal property
3. The perils insured against under coverage A
4. The definition of who is an insured ANS >>> The perils insured against under
coverage A
6. The standard homeowners policy provides replacement cost coverage for
which of the following?
1. Personal property
2. Business personal property
3. Trees, shrubs and plants
4. The dwelling structure ANS >>> The dwelling structure
mailto:https://www.stuvia.com/en-us/user/techgrades
tomobile insurance may be maintained by the licensee in any of the following
investments EXCEPT?
1. High-yield stocks
mailto:https://www.stuvia.com/en-us/user/techgrades
, 2. Treasury certificates
3. Repurchase agreements
4. US Government bonds ANS >>> High-yield stocks
2. Which of the following is eligible for a Business owners Policy?
1. A vacant building
2. A credit union
3. A furniture store
4. A sports bar ANS >>> A furniture store
3. "All risk" coverage is an old insurance term that, when used, refers to a ?
1. Comprehensive liability coverage
mailto:https://www.stuvia.com/en-us/user/techgrades
, 2. Named peril property coverage
3. Property coverage that does not include coverage for damage caused by
any peril
4. Policy the contains no excluded perils ANS >>> Property coverage that does not
include coverage for damage caused by any peril
4. If an employee embezzles $10,000 from an insured's company, which type
of insurance would the employer need for this loss to be covered?
1. Allied lines insurance
2. Business income insurance
3. General liability insurance
4. Crime insurance ANS >>> Crime insurance
5. What is one difference between DP-2 and a DP-3?
mailto:https://www.stuvia.com/en-us/user/techgrades
, 1. The limit of liability under coverage D
2. The inside coverage limit for specified personal property
3. The perils insured against under coverage A
4. The definition of who is an insured ANS >>> The perils insured against under
coverage A
6. The standard homeowners policy provides replacement cost coverage for
which of the following?
1. Personal property
2. Business personal property
3. Trees, shrubs and plants
4. The dwelling structure ANS >>> The dwelling structure
mailto:https://www.stuvia.com/en-us/user/techgrades
