Quiz_________________?
What best explains why regulators do not permit insurers to include nonadmitted assets on
their balance sheets? -
Answer✅
They cannot be readily converted to cash.
Quiz_________________?
What is the best measure of the amount of insurance provided for a given period? -
Answer✅
Earned premium.
Quiz_________________?
What is shown on the balance sheet of an insurer? -
Answer✅
Cash and short-term investments
Quiz_________________?
1
,Jill works in the field for Goshen Mutual as a line underwriter. What is the primary
responsibility of line underwriters? -
Answer✅
To select insureds.
Quiz_________________?
Anna was reviewing an all-lines submission for SP Markets. SP Markets own and operates 5
small grocery stores. They are all well maintained and clean. The overall loss experience on
the account is good relative to the premium, the loss runs show a frequency of small general
liability claims from customer slips and falls. Rather than reject the application for SP
Markets, Anna would like to suggest a coverage modification to the producer that could
make the application acceptable and possible add value for the insured. Which of the
following modification should Anna suggest?
A. Propose the general liability coverage at a lower premium level, but apply a small
deductible.
B. Offer a proposal with all lines of coverage except the general liability coverage.
C. Propose the general liability coverage, excluding the 2 locations that have most of the
small claims.
D. Offer a proposal for all lines of coverage but price the -
Answer✅
A. Propose the general liability coverage at a lower premium level, but apply a small
deductible.
Quiz_________________?
Actual Cash Value (ACV) is -
Answer✅
Replacement cost minus depreciation.
Quiz_________________?
2
, Alicia works for the Drewman Agency, Sandi at insurer Greenway Insurance, and Rosa at
Grossman Brokers, all as customer service representatives. Which of the following is true
regarding their work?
A. Sandi is the only one who can replicate the activities of a producer.
B. Sandi, Alicia, and Rosa are not involved in the generation of new business.
C. Alicia can process policy endorsements and explain coverage to her customers.
D. Rosa can provide superior service but is not generally involved in attracting new
customers. -
Answer✅
C. Alicia can process policy endorsements and explain coverage to her customers.
Quiz_________________?
Which of the following most accurately describes one of the policy provisions in an
insurance policy.
A. The declarations state the insurer's promise to the insured.
B. The definitions contain a list of forms included in the policy.
C. The conditions state what the insurer specifically will not cover.
D. The exclusions are in place to reduce duplicate coverage. -
Answer✅
D. The exclusions are in place to reduce duplicate coverage.
Quiz_________________?
The insurance agent suggested that Sally's Snack Shop buy a policy that combines property,
crime, and liability coverages into one policy. This is an... -
Answer✅
Commercial package policy (CPP)
Quiz_________________?
3
What best explains why regulators do not permit insurers to include nonadmitted assets on
their balance sheets? -
Answer✅
They cannot be readily converted to cash.
Quiz_________________?
What is the best measure of the amount of insurance provided for a given period? -
Answer✅
Earned premium.
Quiz_________________?
What is shown on the balance sheet of an insurer? -
Answer✅
Cash and short-term investments
Quiz_________________?
1
,Jill works in the field for Goshen Mutual as a line underwriter. What is the primary
responsibility of line underwriters? -
Answer✅
To select insureds.
Quiz_________________?
Anna was reviewing an all-lines submission for SP Markets. SP Markets own and operates 5
small grocery stores. They are all well maintained and clean. The overall loss experience on
the account is good relative to the premium, the loss runs show a frequency of small general
liability claims from customer slips and falls. Rather than reject the application for SP
Markets, Anna would like to suggest a coverage modification to the producer that could
make the application acceptable and possible add value for the insured. Which of the
following modification should Anna suggest?
A. Propose the general liability coverage at a lower premium level, but apply a small
deductible.
B. Offer a proposal with all lines of coverage except the general liability coverage.
C. Propose the general liability coverage, excluding the 2 locations that have most of the
small claims.
D. Offer a proposal for all lines of coverage but price the -
Answer✅
A. Propose the general liability coverage at a lower premium level, but apply a small
deductible.
Quiz_________________?
Actual Cash Value (ACV) is -
Answer✅
Replacement cost minus depreciation.
Quiz_________________?
2
, Alicia works for the Drewman Agency, Sandi at insurer Greenway Insurance, and Rosa at
Grossman Brokers, all as customer service representatives. Which of the following is true
regarding their work?
A. Sandi is the only one who can replicate the activities of a producer.
B. Sandi, Alicia, and Rosa are not involved in the generation of new business.
C. Alicia can process policy endorsements and explain coverage to her customers.
D. Rosa can provide superior service but is not generally involved in attracting new
customers. -
Answer✅
C. Alicia can process policy endorsements and explain coverage to her customers.
Quiz_________________?
Which of the following most accurately describes one of the policy provisions in an
insurance policy.
A. The declarations state the insurer's promise to the insured.
B. The definitions contain a list of forms included in the policy.
C. The conditions state what the insurer specifically will not cover.
D. The exclusions are in place to reduce duplicate coverage. -
Answer✅
D. The exclusions are in place to reduce duplicate coverage.
Quiz_________________?
The insurance agent suggested that Sally's Snack Shop buy a policy that combines property,
crime, and liability coverages into one policy. This is an... -
Answer✅
Commercial package policy (CPP)
Quiz_________________?
3
