Personal Lines Final Exam – Questions With Fully
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Terms in this set (100)
What part of the policy lists the rules, C) Conditions
duties, and obligations of the insured
and insurer?
A) Declarations Page
B) Insuring Agreement
C) conditions
D) exclusions
The directive that states the violation D) cease and desist order
committed and requires an agent to
stop the illegal acitivity is called:
A) show cause order
B) subpoena
C) tort
D) cease and desist order
Extended Coverage (EC) include all of D) vandalism
the following perils, EXCEPT:
A) wind
B) riot
C) smoke
D) vandalism
,A device which is used to minimize Deductible
small nuisance claims, lower insurance
premiums, and reduce morale hazards
is called:
A) arbitration
B) deductible
C) valued policy
D) coinsurance
All of the following perils are covered, A) Inherent vice
in a PERSONAL ARTICLES FLOATER
(PAF), EXCEPT:
A) inherent vice
B) flood
C) Earthquake
D) theft
The policyholder has a liability of B) $300,000
$300,000 and caused an accident
injuring one person in the amount of
$250,000 and another person in the
amount of $150,000. What limit of
coverage applies to the loss?
A) $150,000
B) $300,000
C) $250,000
D) $400,000
Eligible vehicles are described in the D) a truck used to make deliveries
Personal Auto Policy. Which of the
following vehicles is NOT eligible?
A) A newly acquired sedan
B) an owned SUV
C) A van used as a temporary
substitute
D) a truck used to make deliveries
, What is the deductible in an B) $200
UNINSURED MOTORIST CLAIM?
A) $100
B) $200
C) $250
D) $500
In order for an insurer to meet their A) At the time the loss occurs
obligation to an insured, "insurable
interest" must exist:
A) At the time the loss occurs
B) At the time the application is made
for the insurance
C) At the time of application or at the
time of loss
D) at the time of application and at the
time of loss
A customer's response to a question D) Representation
to the best of their knowledge or
belief is called:
A) warranty
B) Material fact
C) Misrepresentation
D) Representation
In Virginia, A NAMED DRIVER D) Not available on an auto policy
EXCLUSION (NDE) is:
A) available on all auto policies
B) Only available by endorsement
C) Required to exclude drivers on the
policy
D) Not available on an auto policy
Explained Solutions
Save
Terms in this set (100)
What part of the policy lists the rules, C) Conditions
duties, and obligations of the insured
and insurer?
A) Declarations Page
B) Insuring Agreement
C) conditions
D) exclusions
The directive that states the violation D) cease and desist order
committed and requires an agent to
stop the illegal acitivity is called:
A) show cause order
B) subpoena
C) tort
D) cease and desist order
Extended Coverage (EC) include all of D) vandalism
the following perils, EXCEPT:
A) wind
B) riot
C) smoke
D) vandalism
,A device which is used to minimize Deductible
small nuisance claims, lower insurance
premiums, and reduce morale hazards
is called:
A) arbitration
B) deductible
C) valued policy
D) coinsurance
All of the following perils are covered, A) Inherent vice
in a PERSONAL ARTICLES FLOATER
(PAF), EXCEPT:
A) inherent vice
B) flood
C) Earthquake
D) theft
The policyholder has a liability of B) $300,000
$300,000 and caused an accident
injuring one person in the amount of
$250,000 and another person in the
amount of $150,000. What limit of
coverage applies to the loss?
A) $150,000
B) $300,000
C) $250,000
D) $400,000
Eligible vehicles are described in the D) a truck used to make deliveries
Personal Auto Policy. Which of the
following vehicles is NOT eligible?
A) A newly acquired sedan
B) an owned SUV
C) A van used as a temporary
substitute
D) a truck used to make deliveries
, What is the deductible in an B) $200
UNINSURED MOTORIST CLAIM?
A) $100
B) $200
C) $250
D) $500
In order for an insurer to meet their A) At the time the loss occurs
obligation to an insured, "insurable
interest" must exist:
A) At the time the loss occurs
B) At the time the application is made
for the insurance
C) At the time of application or at the
time of loss
D) at the time of application and at the
time of loss
A customer's response to a question D) Representation
to the best of their knowledge or
belief is called:
A) warranty
B) Material fact
C) Misrepresentation
D) Representation
In Virginia, A NAMED DRIVER D) Not available on an auto policy
EXCLUSION (NDE) is:
A) available on all auto policies
B) Only available by endorsement
C) Required to exclude drivers on the
policy
D) Not available on an auto policy
