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indirect loss correct answers An additional loss that results from a direct loss of property is called
a/an
It provides errors and omissions coverage for an agency correct answers Which of the following
statements is NOT true regarding a personal umbrella liability policy?
Renewal dates correct answers What type of information would be found in a policy's insuring
agreement?
Per occurrence correct answers An insured has a liability policy that sets the amount for all
claims that arise from a single incident at $50,000. Which type of limit of liability does this
insured's policy have?
Owned or leased by the resident of the mobile home correct answers The mobilehome
endorsement alters the homeowners policy to cover a mobilehome and other structures on land
warranty correct answers Which of the following is a statement that is guaranteed to be true, and
if untrue, may breach an insurance contract?
Mechanical breakdown correct answers Which of the following is a common exclusion found in
Part D: Coverage for Damage to Your Auto of a PAP?
market value correct answers The insured's house is located one mile from the county's new
landfill and across the road from the entrance of a rock quarry. It would cost $150,000 to rebuild
the house is something happened to it, but when the insured tried to sell it, the best offer he
received was $80,000. The insurance company will insure the house for only $80,000. What
method of valuation is used to insure this property?
Each policy will pay $25,000 of the loss correct answers An insured has four separate but
identical policies written by different insurers to cover her $100,000 building. Each policy is
written for $100,000, and each has the pro rata liability other insurance clause. In the event of a
total loss to the building, what would each insurer pay?
declarations correct answers Which of the following is a mandatory part of an insurance policy
that varies with each individual policy?
Insuring agreement correct answers All of the following are conditions commonly found in the
insurance policy EXCEPT
Burglary correct answers The crime of forced entry into the premises of another by a person or
persons with felonious intent is defined as
, dwelling policy form correct answers Residential structures, including individual condominium
units, and their contents are insured by what part of the National Flood Insurance Program?
transportation/permission to move endorsement correct answers An insured covered under a
Mobile Homeowners Policy wants to move the location of the covered mobile home. Which of
the following must the insured obtain from the insurer?
Consideration correct answers An insurer neglects to pay a legitimate claim that is covered under
the terms of the policy. Which of the following insurance principles has the insurer violated?
Insured correct answers Who is responsible for filling out a notice of claim form?
occurrence correct answers Losses caused by continuous or repeated exposure to conditions
resulting in injury to persons or damage to property that is neither intended nor expected is the
definition of which of the following terms?
other than collision coverage correct answers Rental reimbursement is only available if the
policy includes which coverage?
How parties to the contact must act following a loss correct answers The policy conditions define
other insurance correct answers What insurance policy provision defines how the policy will
respond if there is more than one insurance policy written on the same risk?
uninsured motorist coverage correct answers In the personal auto policy, owned trailers being
towed by an insured auto are automatically covered for
hazards correct answers Events or conditions that increase the chances of an insured loss
occurring are referred to as
the completed application is submitted correct answers In insurance, an offer is usually made
when
The insured would be responsible for the amount required as underlying limits in the event of a
claim correct answers Which of the following statements would be correct if an insured failed to
maintain the underlying limits as required by a personal umbrella policy?
assigned risk correct answers A recent college graduate bought a new car and is trying to get
automobile insurance on it as required by the lienholder. After being rejected by several
insurance companies due to his driving record, he finally talked to an agent who can get him
coverage. His agent called him a residual market risk. From which type of automobile insurance
plan can the applicant purchase insurance?
alien insurer correct answers When transacting business in this state an insurer formed under the
laws of another country is known as a/an
PASS!!
indirect loss correct answers An additional loss that results from a direct loss of property is called
a/an
It provides errors and omissions coverage for an agency correct answers Which of the following
statements is NOT true regarding a personal umbrella liability policy?
Renewal dates correct answers What type of information would be found in a policy's insuring
agreement?
Per occurrence correct answers An insured has a liability policy that sets the amount for all
claims that arise from a single incident at $50,000. Which type of limit of liability does this
insured's policy have?
Owned or leased by the resident of the mobile home correct answers The mobilehome
endorsement alters the homeowners policy to cover a mobilehome and other structures on land
warranty correct answers Which of the following is a statement that is guaranteed to be true, and
if untrue, may breach an insurance contract?
Mechanical breakdown correct answers Which of the following is a common exclusion found in
Part D: Coverage for Damage to Your Auto of a PAP?
market value correct answers The insured's house is located one mile from the county's new
landfill and across the road from the entrance of a rock quarry. It would cost $150,000 to rebuild
the house is something happened to it, but when the insured tried to sell it, the best offer he
received was $80,000. The insurance company will insure the house for only $80,000. What
method of valuation is used to insure this property?
Each policy will pay $25,000 of the loss correct answers An insured has four separate but
identical policies written by different insurers to cover her $100,000 building. Each policy is
written for $100,000, and each has the pro rata liability other insurance clause. In the event of a
total loss to the building, what would each insurer pay?
declarations correct answers Which of the following is a mandatory part of an insurance policy
that varies with each individual policy?
Insuring agreement correct answers All of the following are conditions commonly found in the
insurance policy EXCEPT
Burglary correct answers The crime of forced entry into the premises of another by a person or
persons with felonious intent is defined as
, dwelling policy form correct answers Residential structures, including individual condominium
units, and their contents are insured by what part of the National Flood Insurance Program?
transportation/permission to move endorsement correct answers An insured covered under a
Mobile Homeowners Policy wants to move the location of the covered mobile home. Which of
the following must the insured obtain from the insurer?
Consideration correct answers An insurer neglects to pay a legitimate claim that is covered under
the terms of the policy. Which of the following insurance principles has the insurer violated?
Insured correct answers Who is responsible for filling out a notice of claim form?
occurrence correct answers Losses caused by continuous or repeated exposure to conditions
resulting in injury to persons or damage to property that is neither intended nor expected is the
definition of which of the following terms?
other than collision coverage correct answers Rental reimbursement is only available if the
policy includes which coverage?
How parties to the contact must act following a loss correct answers The policy conditions define
other insurance correct answers What insurance policy provision defines how the policy will
respond if there is more than one insurance policy written on the same risk?
uninsured motorist coverage correct answers In the personal auto policy, owned trailers being
towed by an insured auto are automatically covered for
hazards correct answers Events or conditions that increase the chances of an insured loss
occurring are referred to as
the completed application is submitted correct answers In insurance, an offer is usually made
when
The insured would be responsible for the amount required as underlying limits in the event of a
claim correct answers Which of the following statements would be correct if an insured failed to
maintain the underlying limits as required by a personal umbrella policy?
assigned risk correct answers A recent college graduate bought a new car and is trying to get
automobile insurance on it as required by the lienholder. After being rejected by several
insurance companies due to his driving record, he finally talked to an agent who can get him
coverage. His agent called him a residual market risk. From which type of automobile insurance
plan can the applicant purchase insurance?
alien insurer correct answers When transacting business in this state an insurer formed under the
laws of another country is known as a/an
