All of the following are duties of the insured after a loss, EXCEPT:
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To provide the insurer with the amount they expect to be paid for the claim
submitted.
,The insured has her fur coat specifically covered under a Personal Articles policy. It
has been stored in a plastic garment bag in her closet during the summer months. She
decides to take the coat out and hang it outside to freshen up. The next door
neighbor's dog sees the coat and attacks it and ruins the garment. The insurer will:
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Pay the claim because the loss is not excluded
Mrs. Vincent is covered under a standard PAP that covers her 2016 Ford SUV. She
carries liability and full physical damage coverage. Her neighbor owns a 2002
Chevrolet pick-up truck with liability coverage only. Mrs. Vincent borrows the truck to
pick up lawn furniture, parks the truck at the store, and leaves the keys in the ignition.
The truck is stolen and later found wrecked. Which of the following would apply?
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The loss is covered under Mrs. Vincent's "other than collision" coverage.
Hannah must take time away from work to help assist in the investigation of a claim
that was made against her BOP policy. The policy will pay for Hannah's actual loss of
earnings up to:
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$250 per day.
,Nina has the "Preservation of Property" additional coverage included in her standard
Businessowners policy. How long does coverage apply while the property is being
stored at another location?
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30 days from the day the property was first moved.
Under a surety bond, the "principal" is the party that:
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Agrees to fulfill an obligation.
A structure made of modified fire resistive materials has a fire resistive rating of:
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At least 1 hour.
Ally's insurance agency has contracted with Indemnify Insurance to sell only those
insurance products offered by Indemnify. Ally's is utilizing which of the following
types of insurance marketing and distribution systems?
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, Exclusive agency system.
In order for a contract to be binding in a court of law, it must be designed for:
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Legal purposes.
Darla has her business covered by a standard Businessowners Policy that includes the
"Personal Effects" coverage extension. Catherine, one of Darla's employees, has
brought her brief case to work one day with her purse, make-up bag, tablet, and
laptop computer inside. A fire breaks out in Darla's building and all of the contents of
Catherine's briefcase, worth $2,000, are destroyed. How much will Darla's BOP pay for
Catherine's lost "personal effects"?
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$2,000
Which one of the following situations would be considered an example of absolute
(strict) liability?
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To provide the insurer with the amount they expect to be paid for the claim
submitted.
,The insured has her fur coat specifically covered under a Personal Articles policy. It
has been stored in a plastic garment bag in her closet during the summer months. She
decides to take the coat out and hang it outside to freshen up. The next door
neighbor's dog sees the coat and attacks it and ruins the garment. The insurer will:
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Pay the claim because the loss is not excluded
Mrs. Vincent is covered under a standard PAP that covers her 2016 Ford SUV. She
carries liability and full physical damage coverage. Her neighbor owns a 2002
Chevrolet pick-up truck with liability coverage only. Mrs. Vincent borrows the truck to
pick up lawn furniture, parks the truck at the store, and leaves the keys in the ignition.
The truck is stolen and later found wrecked. Which of the following would apply?
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The loss is covered under Mrs. Vincent's "other than collision" coverage.
Hannah must take time away from work to help assist in the investigation of a claim
that was made against her BOP policy. The policy will pay for Hannah's actual loss of
earnings up to:
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$250 per day.
,Nina has the "Preservation of Property" additional coverage included in her standard
Businessowners policy. How long does coverage apply while the property is being
stored at another location?
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30 days from the day the property was first moved.
Under a surety bond, the "principal" is the party that:
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Agrees to fulfill an obligation.
A structure made of modified fire resistive materials has a fire resistive rating of:
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At least 1 hour.
Ally's insurance agency has contracted with Indemnify Insurance to sell only those
insurance products offered by Indemnify. Ally's is utilizing which of the following
types of insurance marketing and distribution systems?
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, Exclusive agency system.
In order for a contract to be binding in a court of law, it must be designed for:
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Legal purposes.
Darla has her business covered by a standard Businessowners Policy that includes the
"Personal Effects" coverage extension. Catherine, one of Darla's employees, has
brought her brief case to work one day with her purse, make-up bag, tablet, and
laptop computer inside. A fire breaks out in Darla's building and all of the contents of
Catherine's briefcase, worth $2,000, are destroyed. How much will Darla's BOP pay for
Catherine's lost "personal effects"?
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$2,000
Which one of the following situations would be considered an example of absolute
(strict) liability?
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