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C14 - Auto - Final Exam | Comprehensive
Q&A For Certification Success
Planned Accidents-correct-answer--Usually at night behind buildings or where
there are no witnesses
-Vehicle may be driven into wall at low speed causing less than $500 damage
-Phony claimant are referred to clinics for treatment they don't need or don't get
-AB forms are then submitted to insurers
Uninsured Automobile Coverage-correct-answer--Can recover from own insurer
for damages due to accidents caused by uninsured/unidentified automobiles
-Insured must be legally entitled to recover from the uninsured/unidentified
motorists
-Legal right to recover subject to $300 deductible and $25,000 max limit
Uninsured/Unidentified Motorists - Insured persons-correct-answer--For death or
BI: the insured, insureds spouse, and any dependant
-For property damage: the owner of auto, the owner of contents damaged
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Uninsured/Unidentified Motorists - Claims for BI or Death-correct-answer-
Unidentified:
1. accident reported to police in 24 hrs
2. Give insurer written statements in 30 days giving details of the claim
Uninsured:
1. Must give insurer written notice within 30 days
Uninsured/Unidentified Motorists - Limitations and Exclusions-correct-answer--
Insurer liable for the lesser of the min limits where accident happened
-Insurer only needs to pay difference if insured can get money under other
insurance policies
-Insurer not liable for any payment if the insured is entitled to recover under the
liability section of an auto policy
-No liability to anyone that can recover from an unsatisfied judgment fund
-there is no liability for any loss or damage caused by radioactive material
-Amount payable for damaged to auto and contents subject to $300 deductible
and max $25k
-No liability if driven by excluded driver
Motor Vehicle Accident Claims Fund (MVACF)-correct-answer--Ensure victims of
accidents by uninsured auto are compensated
-May also be called uninsured auto funds or unsatisfied judgment funds
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-Some funds cover bodily injury only
-Provides stat AB to claimants unable to claim them from other auto policies
-Compensates for personal injuries and property damage
-To recover money paid out on behalf of owners and drivers of uninsured vehicles
Specified Perils-correct-answer-Covers:
-Fire
-Theft or attempted theft
-Lightning
-Windstorm, hail, or rising water
-Earthquake or explosion
-Riot or civil disturbance
-Falling or forced landing of aircraft or its parts
-The standing, sinking, burning, derailment, or collision upon which a described
auto is being carried
Comprehensive-correct-answer--Protects auto against all perils other than
collision or upset
-Covers the following:
1. Perils listed under specified perils
2. Falling or flying objects
3. Missiles
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4. Vandalism
Collision or upset-correct-answer--Damage to the vehicle caused by
collision/upset with another vehicle, person, road, surface, object
-Usually sold in combination with comp coverage
-Collision with an animal falls under comprehensive claim
All perils-correct-answer--Broadest of the coverages
-Combines collision and comp
-Covers certain theft claims that are excluded under comp:
1. theft by a person living in the insured's household
2. Theft by employee who drives, uses, services, or repairs the described auto
Exclusions under loss or damage coverages-correct-answer-1. Wear and tear or
lack of maintenance
2. Damage caused by theft of vehicle by any person who is in lawful possession of
veh
3. Damage from voluntary parting with title of ownership
4. Contamination by radioactive material
5. Damage to contents of trailers
6. Damage to media and equipment for use with a sound system
C14 - Auto - Final Exam | Comprehensive
Q&A For Certification Success
Planned Accidents-correct-answer--Usually at night behind buildings or where
there are no witnesses
-Vehicle may be driven into wall at low speed causing less than $500 damage
-Phony claimant are referred to clinics for treatment they don't need or don't get
-AB forms are then submitted to insurers
Uninsured Automobile Coverage-correct-answer--Can recover from own insurer
for damages due to accidents caused by uninsured/unidentified automobiles
-Insured must be legally entitled to recover from the uninsured/unidentified
motorists
-Legal right to recover subject to $300 deductible and $25,000 max limit
Uninsured/Unidentified Motorists - Insured persons-correct-answer--For death or
BI: the insured, insureds spouse, and any dependant
-For property damage: the owner of auto, the owner of contents damaged
,2|Page
Uninsured/Unidentified Motorists - Claims for BI or Death-correct-answer-
Unidentified:
1. accident reported to police in 24 hrs
2. Give insurer written statements in 30 days giving details of the claim
Uninsured:
1. Must give insurer written notice within 30 days
Uninsured/Unidentified Motorists - Limitations and Exclusions-correct-answer--
Insurer liable for the lesser of the min limits where accident happened
-Insurer only needs to pay difference if insured can get money under other
insurance policies
-Insurer not liable for any payment if the insured is entitled to recover under the
liability section of an auto policy
-No liability to anyone that can recover from an unsatisfied judgment fund
-there is no liability for any loss or damage caused by radioactive material
-Amount payable for damaged to auto and contents subject to $300 deductible
and max $25k
-No liability if driven by excluded driver
Motor Vehicle Accident Claims Fund (MVACF)-correct-answer--Ensure victims of
accidents by uninsured auto are compensated
-May also be called uninsured auto funds or unsatisfied judgment funds
,3|Page
-Some funds cover bodily injury only
-Provides stat AB to claimants unable to claim them from other auto policies
-Compensates for personal injuries and property damage
-To recover money paid out on behalf of owners and drivers of uninsured vehicles
Specified Perils-correct-answer-Covers:
-Fire
-Theft or attempted theft
-Lightning
-Windstorm, hail, or rising water
-Earthquake or explosion
-Riot or civil disturbance
-Falling or forced landing of aircraft or its parts
-The standing, sinking, burning, derailment, or collision upon which a described
auto is being carried
Comprehensive-correct-answer--Protects auto against all perils other than
collision or upset
-Covers the following:
1. Perils listed under specified perils
2. Falling or flying objects
3. Missiles
, 4|Page
4. Vandalism
Collision or upset-correct-answer--Damage to the vehicle caused by
collision/upset with another vehicle, person, road, surface, object
-Usually sold in combination with comp coverage
-Collision with an animal falls under comprehensive claim
All perils-correct-answer--Broadest of the coverages
-Combines collision and comp
-Covers certain theft claims that are excluded under comp:
1. theft by a person living in the insured's household
2. Theft by employee who drives, uses, services, or repairs the described auto
Exclusions under loss or damage coverages-correct-answer-1. Wear and tear or
lack of maintenance
2. Damage caused by theft of vehicle by any person who is in lawful possession of
veh
3. Damage from voluntary parting with title of ownership
4. Contamination by radioactive material
5. Damage to contents of trailers
6. Damage to media and equipment for use with a sound system
