FLORIDA 2-20 AGENTS LICENSE
FINAL Exam 1 Study Guide Complete
Questions With Complete Solutions 100%
Accurate Already Graded A+ -- Just
Released.
1. Which one of the following losses would be covered by
the business auto policy? - ANSWER ✓ The insured
has agreed to pay for liability losses caused by the
insured's negligence that a shipper may incur while the
insured is hauling goods for the shipper.
2. Which one of the following statements is correct with
respect to the liability coverage available under
businessowners policies (BOPs)? - ANSWER ✓
Certain liability coverage options are not part of most
BOP programs because the insureds that need them
generally do not qualify for BOPs.
,3. Federal workers compensation statutes apply to which
one of the following workers? - ANSWER ✓ An
interstate railroad worker
4. Part One of the Workers Compensation and Employers
Liability Insurance Policy provides that the insured will
reimburse the insurer for which one of the following? -
ANSWER ✓ Penalties required under a workers
compensation law because of the employer's willful
misconduct.
5. Which one of the following best explains why the
premium discount plan for workers compensation
insurance provides an increasing credit for premiums in
excess of a certain minimum? - ANSWER ✓ Many of
the expenses of providing workers compensation
insurance do not increase proportionately with increases
in premium.
6. The workers compensation laws of some states are
inapplicable to which one of the following? - ANSWER
✓ Partners, sole proprietors, or executive officers.
,7. Omicron Corporation currently does business in
Colorado, Nebraska, and Kansas. These states are listed
in Item 3.A on the Information Page of Omicron's
Workers Compensation and Employers Liability
Insurance Policy. The company is hoping to expand its
operations into Utah, Arizona, and New Mexico during
the next year. Which one of the following statements is
correct with respect to workers compensation insurance
in the states where Omicron hopes to expand? -
ANSWER ✓ Omicron should include Utah, Arizona,
and New Mexico in Item 3.C on the Information Page
and advise the insurer immediately if the company
begins operations in any of those states.
8. Which one of the following would be covered under
Part Two of the Workers Compensation and Employers
Liability Insurance Policy? - ANSWER ✓ An employee
is exposed to disease during the policy period but
symptoms don't appear until after the employee is fired.
, 9. With only a few exceptions, the premium base for
workers compensation insurance is - ANSWER ✓
Payroll
10. Which one of the following statements about
employers liability coverage is true? - ANSWER ✓ It
does not cover punitive damages for injury or death of
any illegally employed person.
11. An employer that decides to purchase specific excess
insurance to cover catastrophic workers compensation
losses must pay losses that are which one of the
following? - ANSWER ✓ Up to the retention for one
occurrence.
12. When a worker is required to travel to another state
and is injured in that other state, which one of the
following is a typical consideration in determining
which state's law applies for the purpose of determining
workers compensation coverage? - ANSWER ✓ The
worker's place of residence
FINAL Exam 1 Study Guide Complete
Questions With Complete Solutions 100%
Accurate Already Graded A+ -- Just
Released.
1. Which one of the following losses would be covered by
the business auto policy? - ANSWER ✓ The insured
has agreed to pay for liability losses caused by the
insured's negligence that a shipper may incur while the
insured is hauling goods for the shipper.
2. Which one of the following statements is correct with
respect to the liability coverage available under
businessowners policies (BOPs)? - ANSWER ✓
Certain liability coverage options are not part of most
BOP programs because the insureds that need them
generally do not qualify for BOPs.
,3. Federal workers compensation statutes apply to which
one of the following workers? - ANSWER ✓ An
interstate railroad worker
4. Part One of the Workers Compensation and Employers
Liability Insurance Policy provides that the insured will
reimburse the insurer for which one of the following? -
ANSWER ✓ Penalties required under a workers
compensation law because of the employer's willful
misconduct.
5. Which one of the following best explains why the
premium discount plan for workers compensation
insurance provides an increasing credit for premiums in
excess of a certain minimum? - ANSWER ✓ Many of
the expenses of providing workers compensation
insurance do not increase proportionately with increases
in premium.
6. The workers compensation laws of some states are
inapplicable to which one of the following? - ANSWER
✓ Partners, sole proprietors, or executive officers.
,7. Omicron Corporation currently does business in
Colorado, Nebraska, and Kansas. These states are listed
in Item 3.A on the Information Page of Omicron's
Workers Compensation and Employers Liability
Insurance Policy. The company is hoping to expand its
operations into Utah, Arizona, and New Mexico during
the next year. Which one of the following statements is
correct with respect to workers compensation insurance
in the states where Omicron hopes to expand? -
ANSWER ✓ Omicron should include Utah, Arizona,
and New Mexico in Item 3.C on the Information Page
and advise the insurer immediately if the company
begins operations in any of those states.
8. Which one of the following would be covered under
Part Two of the Workers Compensation and Employers
Liability Insurance Policy? - ANSWER ✓ An employee
is exposed to disease during the policy period but
symptoms don't appear until after the employee is fired.
, 9. With only a few exceptions, the premium base for
workers compensation insurance is - ANSWER ✓
Payroll
10. Which one of the following statements about
employers liability coverage is true? - ANSWER ✓ It
does not cover punitive damages for injury or death of
any illegally employed person.
11. An employer that decides to purchase specific excess
insurance to cover catastrophic workers compensation
losses must pay losses that are which one of the
following? - ANSWER ✓ Up to the retention for one
occurrence.
12. When a worker is required to travel to another state
and is injured in that other state, which one of the
following is a typical consideration in determining
which state's law applies for the purpose of determining
workers compensation coverage? - ANSWER ✓ The
worker's place of residence
