Casuality

An insured has a personal umbrella with a $2,000 self-insured retention (SIR). Assuming no other policy is involved, how much would the umbrella pay after a $12,000 personal injury liability claim?

$10,000

grant lost his hand in a work-related accident. what is he entitled to receive, if anything, while he is taking rehabilitation classes in addition to disability and medical benefits?

$100 a week for up to 13 weeks

When an insurer inquires an insured's rights against a third party for the purpose of receiving indemnification for loss, this is called.

A. Subrogation

All of the following are requirements for enrollment in the Iowa Automobile Insurance plan Except

A. The applicant had a previous auto liability policy canceled.

Which of the following is FALSE concerning liability coverage of a business auto policy?

A. The company will reimburse the insured for all loss of earnings.

Although a businessowners policy (BOP) will cover fire damage legal liability, which of the following statements is true?

A. The general aggregate does not apply to fire damage legal liability.

After a hearing, who issues the written order resolving the factual issues presented in a hearing and stating what remedial action is necessary?

A. The insurance Division

Which of the following would NOT be covered by uninsured motorist coverage?

A. The insured causes a head-on collision with the car of an uninsured motorist.

If uninsured and underinsured motorist coverage is rejected at the issue of the policy, what happens to coverage upon renewal of the policy?

A. The rejected coverage will not be on the renewed policy.

Supplementary payments under personal auto policy include All of the following EXCEPT.

A. Ultimate cost of bail bonds.

Two individuals of the same age, health status, and life expectancy apply for individual insurance coverage. When policies are issued by the same insurer, the premium rates are different based on the insured's race. What practice does this describe?

A. Unfair discrimination

a general liability policy will respond to claims against an insured when bodily injury or property damage is caused by

an insured negligence

the supplementary payments section of the commercial general liability would cover

court costs were assessed against the insured in a suit

A sworn statement must usually be furnished by the insured to an insurer, and must include what information about the occurrence and the amount of indemnity claimed?

date and description

Which of the following would be considered a peril?

fire

harold died in an accident at work, leaving behind a wife and an autist child. for how long will the child's survivor benefits continue under the state's workers compensation law?

for the remainder of the childs life

which of the following injuries would be covered under Coverage C- Medical Payments of a commercial general liability policy?

injuries to a member of the public that occur on premises

an insurance agent visits a potential client and explains various types of policies. the customer displays lack of interest, so the agent guarantees highe dividends than he knows would be possible which term has the agent done?

misrepresentation

An insured has extended coverage on her dwelling that includes coverage for vandalism and malicious mischief. One evening she is sitting in her living room when she hears a crash and the sound of glass breaking. She runs to the door and discovers a brick has been thrown through her glass window. To inform her insurer of a possible claim, she fills out a form detailing the events leading to the loss. What is the name of the form?

notice of claim form

A small appliance manufactured in this state provides products from around the globe. A costumer is Switzerland is injured using one of its products. If the appliance manufacturer is found liable for the damages, why would its commercial general liability policy cover the customer's claim for bodily injury?

the appliance was manufactured in the United States

An insured has $5,000 of medical coverage under a personal auto policy at the time of a covered accident. The insured and 3 passengers were injured. The insured's medical expenses are $8,000. The first passengers totaled $4,000. The second passengers total is $6,500. And the third passengers total $1,200. How much will the policy pay under the medical payments coverage?

$15,200

What is the minimum limit for uninsured motorist coverage for bodily injury to one person in the state of Iowa?

$20,000

If a producer knowingly violates an insurance law, the producer may be fined up to what amount per violation?

$5,000

What is the waiting period for transportation expense coverage for a loss other than theft of a covered vehicle?

24 hours

How long is a waiting period for workers compensation loss of earning benefits?

3 days

An insured has an automobile policy with limits of 100/30/50 and a deductible of $1,000. He is involved in an auto accident and crashes into another driver's auto. The other driver is awarded $125,000 for his injuries and $25,000 for the damage to his car. The insured's vehicle has damage in the amount of $1,200. The total payment made under the policy is.

A. $125,200

An insurer intends to cancel a private passenger automobile policy because the insured did not pay his premiums. How many days' notices must be provided prior to cancellation?

A. 10

Which of the following is correct regarding continuing education requirements for producers in this state?

A. 36 hours including 3 hours of ethics every 3 years.

For how long must producer maintain records of completing continuing education hours?

A. 4 years

Which of the following is indicated on a certificate of insurance?

A. Amount and types of insurance

Under a commercial general liability policy, which of the following is NOT considered mobile equipment?

A. An automobile used as a company car by a real estate company.

The second injury fund will pay the benefits in which of the following situations?

A. An employee with a previous injury suffers a second injury that causes the disability to be more serious.

The businessowners liability coverage form would respond to a claim arising from which of the following events?

A. An injury arising out of a customer falling because of a wet floor.

Which of these would be covered by the medical payments coverage in a personal auto policy?

A. An insured slams a hand in a car door while getting in, breaking the hand.

In order to get a nonresident license in this state a producer must.

A. Apply and pay a fee to a nonresident state that reciprocates.

Which of the following is an example of an unfair claims settlement practice?

A. Failure to promptly settle a claim when liability has been clearly established.

Space age rockets makes model rocket supplies and has 12 employees. The company is located in Atlanta GA. Georgia has compulsory workers compensation laws. Space age's owner thinks that his company is too small and unprofitable to carry the workers comp plant mandated by the state. Possible consequences of noncompliance include ALL the following except?

A. Forced payment of billing for services rendered by any private insurer that "binds" coverage based on an employee's request for coverage.

After a hearing, if the commissioner finds that a producer is in violation of unfair business practices, his or her initial action will be to

A. Issue a cease-and-desist order.

Section III of the business auto policy provides physical coverage. All of the following are physical damages that may be selected coverages EXCEPT.

A. Limited peril coverage

Agents may be found guilty of defamation if they make false statements that are intended to.

A. Maliciously criticize another insurance company.

Which of the following is INCORRECT regarding the insurance Guarantee Association?

A. Producers may stress its guarantees to customers in a sales presentation.

All the following statements are true regarding uninsured/underinsured motorist coverage in this state EXCEPT.

A. Providing the coverage is optional.

Which of the following is a method of establishing a premium on large commercial accounts?

A. Retrospective rating.

An insured was injured at work on June 1. What is the latest date that his employer must be notified of the accident if the insured is to retain his workers comp benefits?

A. September 1

A cooperation is insured under a commercial general liability (CGL) policy and is named in a lawsuit to recover expenses for bodily injury and property damages from a claim. The insurance company is obligated to provide coverage for all of the following named in a suit EXCEPT.

A. Spouse of officers and stockholders.

Coverage B- Personal and Advertising Injury Liability responds to claims arising from

A. Suits alleging infringement of copyright.

What is the main distinction between a hired and a non-owned auto?

A. Who owns the auto.

Which of the following would be considered a covered auto on your personal auto policy?

A. Your farm wagon being towed by your pickup truck.

If an insurance policy has additional coverage provision, how does it affect the policy premium?

A.there is no additional premium

which of the following is covered by auto other-than-collision coverage (comprehensive)

Electronic equipment required for normal operations of the car

All the following reasons can justify denial of license for an insurance producer EXCEPT if the producer.

Fails to sell enough policies

Which of the following duties is NOT required of the insured in event of a loss?

Immediately notify the insurer when the insured has filed for bankruptcy

The garage coverage form is written to cover the insurance needs of an insured in the business of selling, repairing, servicing, or storing automobiles. Which of the following coverages are not included in a garage policy?

Physical damage on a costumer's auto

Which of the following symbols in a business owners policy indicates that coverage for newly acquired vehicles applies if the insurer already covers all autos owned by the insured?

Symbol 5

When an insured's gardener was spraying the weeds in his lawn, he failed to notice that the wind was drifting the spray into the neighbor's yard where he damaged their flower bed. The insured was found to be legally liable for this damage. This is an example of?

Vicarious Liability

Which of the following is NOT a classification of a Hazard?

speculative

An insured was traveling down an icy road and hit a sign, causing $1,350 damage to the car. The policy requires a $250 deductible. The insured already collected a $1,500 claim this year. How much will the insured collect on this claim?

$1,100