OTL AUTO CHAPTER 2 questions n
answers graded A+ passed
What criteria must a driver meet to qualify for a retiree discount? - correct answer ✔✔The
person must be retired; aged 65 or older; the principal driver of the vehicle
What are two types of endorsements? - correct answer ✔✔Those that extend coverage or
restrict coverage
What is the automobile insurance application also known as? - correct answer ✔✔OAF (1)
How many sections does the application for automobile insurance contain? - correct answer
✔✔12
Which section of the automobile application (OAF 1) is used for the addition of information that
is important for underwriters to know, but may not be specifically requested? - correct answer
✔✔Remarks
Why does the section—Described Automobile—of the automobile application (OAP1) ask about
lienholders? - correct answer ✔✔To establish insurable interest
What is selecting risks and applying rates to the things that are to be insured? - correct answer
✔✔Underwriting
If a signed application is not received prior to the policy being issued, what must the insurer do?
- correct answer ✔✔Send a printed copy of the applicant's completed application form so It can
be signed and returned.
answers graded A+ passed
What criteria must a driver meet to qualify for a retiree discount? - correct answer ✔✔The
person must be retired; aged 65 or older; the principal driver of the vehicle
What are two types of endorsements? - correct answer ✔✔Those that extend coverage or
restrict coverage
What is the automobile insurance application also known as? - correct answer ✔✔OAF (1)
How many sections does the application for automobile insurance contain? - correct answer
✔✔12
Which section of the automobile application (OAF 1) is used for the addition of information that
is important for underwriters to know, but may not be specifically requested? - correct answer
✔✔Remarks
Why does the section—Described Automobile—of the automobile application (OAP1) ask about
lienholders? - correct answer ✔✔To establish insurable interest
What is selecting risks and applying rates to the things that are to be insured? - correct answer
✔✔Underwriting
If a signed application is not received prior to the policy being issued, what must the insurer do?
- correct answer ✔✔Send a printed copy of the applicant's completed application form so It can
be signed and returned.
