March 14
FUNDAMENTA
LS OF
202
INSURANCE
(BC) 5
FUNDAMENTALS OF INSURANCE
[Type the
(BC)EXAM | NEWEST ACTUAL EXAM
document
COMPREHENSIVE QUESTIONS AND
subtitle]
VERIFIED ANSWERS
, FUNDAMENTALS OF INSURANCE (BC)
EXAM | NEWEST ACTUAL EXAM COMPREHENSIVE
QUESTIONS AND VERIFIED ANSWERS
GRADED A+
The Roadstar Package, which ICBC offers to eligible insureds, includes all of the following coverages,
except one. Select the one, which is not covered.
A. Loss of Use coverage up to $800 - for motor homes $1000, subject to a daily limit.
B. Rental Vehicle Coverage - for rentals not exceeding 30 consecutive days.
C. Vehicle Travel Protection - covers additional expenses when the vehicle is damaged in an accident or
is stolen while on a trip away from home.
D. Cost to replace or recode locks, keys or remote keyless entry transmitters, if they have been lost or
stolen. - ✔✔✔ VERIFIED Answer
* D. Cost to replace or recode locks, keys or remote keyless entry transmitters, if they have been lost or
stolen.
1
,Yesterday, the insured parked her automobile in an outdoor lot at a local mall. It was struck by a hit-and-
run driver. Damage caused to the rear fender was $1150. The insured does not have Own Damage
Coverage. However, the Uninsured or Unidentified Motorist Protection Coverage provided by Basic
Autoplan would provide for the following payment:
A. $100
B. $250
C. $400
D. $750 - ✔✔✔ VERIFIED ANS* C. $400
Insurance plays an important role in managing financial risk. The main purpose4 of insurance is to
a. Enable the consumer to obtain a loan or mortgage
b. Provide employment and investment capital
c. Allow the spread of risk
d. Reduce losses through loss prevention and loss reduction - ✔✔✔
VERIFIED ANS* c. Allow the spread of risk
Insureds generally will receive a rate credit when property protection systems are installed on the
premises. As a condition of coverage, the insured must notify the insurer immediately when certain
conditions
2
, exist. Which is the following statements is not true in respect of this policy condition:
A. The insureds shall notify the insurer of any interruptions to such system(s) of which they are
aware.
B. The insureds shall advise the insurer of the existence of any municipal by-law or
ordinance related to such system(s)
C. The insureds shall advise the insurer when any contract providing monitoring or maintenance
services has been cancelled.
D. The insureds shall advise the insurer when they have been provided with notification of the
suspension of police services in response to any such system(s) - ✔✔✔ VERIFIED ANS* B. The
insureds shall advise the insurer of the existence of any municipal by-law or ordinance related to such
system(s)
Damage caused to the insured automobile as a result of impact with a domestic or wild animal, either
living or dead, would be covered only if the insured purchased this Own Damage Coverage:
A. Specified Peril
B. Collision
C. Comprehensive
D. Collision and Comprehensive - ✔✔✔ VERIFIED ANS* C. Comprehensive
3
FUNDAMENTA
LS OF
202
INSURANCE
(BC) 5
FUNDAMENTALS OF INSURANCE
[Type the
(BC)EXAM | NEWEST ACTUAL EXAM
document
COMPREHENSIVE QUESTIONS AND
subtitle]
VERIFIED ANSWERS
, FUNDAMENTALS OF INSURANCE (BC)
EXAM | NEWEST ACTUAL EXAM COMPREHENSIVE
QUESTIONS AND VERIFIED ANSWERS
GRADED A+
The Roadstar Package, which ICBC offers to eligible insureds, includes all of the following coverages,
except one. Select the one, which is not covered.
A. Loss of Use coverage up to $800 - for motor homes $1000, subject to a daily limit.
B. Rental Vehicle Coverage - for rentals not exceeding 30 consecutive days.
C. Vehicle Travel Protection - covers additional expenses when the vehicle is damaged in an accident or
is stolen while on a trip away from home.
D. Cost to replace or recode locks, keys or remote keyless entry transmitters, if they have been lost or
stolen. - ✔✔✔ VERIFIED Answer
* D. Cost to replace or recode locks, keys or remote keyless entry transmitters, if they have been lost or
stolen.
1
,Yesterday, the insured parked her automobile in an outdoor lot at a local mall. It was struck by a hit-and-
run driver. Damage caused to the rear fender was $1150. The insured does not have Own Damage
Coverage. However, the Uninsured or Unidentified Motorist Protection Coverage provided by Basic
Autoplan would provide for the following payment:
A. $100
B. $250
C. $400
D. $750 - ✔✔✔ VERIFIED ANS* C. $400
Insurance plays an important role in managing financial risk. The main purpose4 of insurance is to
a. Enable the consumer to obtain a loan or mortgage
b. Provide employment and investment capital
c. Allow the spread of risk
d. Reduce losses through loss prevention and loss reduction - ✔✔✔
VERIFIED ANS* c. Allow the spread of risk
Insureds generally will receive a rate credit when property protection systems are installed on the
premises. As a condition of coverage, the insured must notify the insurer immediately when certain
conditions
2
, exist. Which is the following statements is not true in respect of this policy condition:
A. The insureds shall notify the insurer of any interruptions to such system(s) of which they are
aware.
B. The insureds shall advise the insurer of the existence of any municipal by-law or
ordinance related to such system(s)
C. The insureds shall advise the insurer when any contract providing monitoring or maintenance
services has been cancelled.
D. The insureds shall advise the insurer when they have been provided with notification of the
suspension of police services in response to any such system(s) - ✔✔✔ VERIFIED ANS* B. The
insureds shall advise the insurer of the existence of any municipal by-law or ordinance related to such
system(s)
Damage caused to the insured automobile as a result of impact with a domestic or wild animal, either
living or dead, would be covered only if the insured purchased this Own Damage Coverage:
A. Specified Peril
B. Collision
C. Comprehensive
D. Collision and Comprehensive - ✔✔✔ VERIFIED ANS* C. Comprehensive
3
