GA P&C Ones i dont know
Coverage B of an unendorsed standard BOP policy provides how much coverage for theft of money & securities?
$0
Farmer Ellen is covered by a Farm Property policy. During a storm, two trees located on each side of the farmhouse front porch are blown down and cause roof damage. How much coverage does Ellen's policy provide to remove the trees?
$1,000 for any one loss regardless of the number of trees that have fallen but no more than $500 for the removal of any one tree..
The basic limit for Coverage F -- Medical Payments of the standard Homeowners forms is:
$1,000 per person.
The NAIC Model Unfair Claim Settlement Practice Act provides for a financial penalty of _________ for each violation of the Act.
$1,000..
In Georgia, the Chief Deputy Commissioner must execute a bond in the amount of:
$15,000.
Mark is injured at work in a state that provides a TTD benefit at 66 2/3%, the state minimum is $40 and the state maximum is $540. The waiting period is 3 days and the retroactive period is 15 days. Which of the following is Mark's TTD benefit if he earns $20 per hour and usually works a 40-hour week. Mark is injured on July 14th and does not return to work until September 3rd. Which of the following is the amount of TTD benefit he would have received?
$20 X 40 - $800 (This is the average weekly wage). 66 2/3% X $800 = $533.33 (Still lower than the maximum). July 15th to September 2nd = 50 days, which is 7 weeks and one day (7 1/7th) weeks. The waiting period does not apply because the disability exceeded 15 days. 7 1/7 X $533.33 = $3,809.50.
An insured carries property insurance with a limit of $25,000 and an 80% coinsurance requirement. The covered building, however, is worth $40,000. How much would she collect in the event of a total loss?
$25,000.
$25,000/$50,000/$30,000Which of the following statements is TRUE regarding these numbers?
$30,000 represents the limit for property damage liability..
All of the following are basic limits of a standard Commercial General Liability policy, EXCEPT:
$50,000 Fire Damage Legal limit..
The "Business Income" additional coverage of the standard Businessowners policy provides coverage for "ordinary payroll coverage" for:
60 days unless the insured selects and schedules a different amount..
In Georgia, insurance binders are valid for a period not to exceed:
90 days..
All of the following would be considered a "non-residential building" under the National Flood Insurance Program, EXCEPT:
A condominium
Coverage G of a Farm Property policy would provide coverage for all of the following, EXCEPT:
A garage located at the end of the driveway leading to the farmhouse..
The "Part B - Medical Payments" coverage of a personal automobile policy covers injuries for all of the following, EXCEPT:
A passenger who is injured in another vehicle that is struck by the insured's vehicle in an accident..
Coverage A of a Homeowners policy would cover all of the following, EXCEPT:
A storage shed connected to the dwelling by a utility line..
Which of the following property would be excluded from coverage for loss under Coverage C of the Homeowners policies?
A valuable baseball card collection owned by the named insured's son that is covered under a separate personal articles floater. .
A consumer report may list adverse information about the consumer, such as lawsuits or arrests, only if those events occurred within seven years before the report or 10 years for bankruptcies. These restrictions do not apply to which of the following?
All responses listed are correct. .
An insurance broker is a person who represents:
An insured or prospective insured..
To prove negligence, the "proximate" or "legal cause" of an injury or loss, includes what important feature?
An unbroken chain of events lead to the bodily injury or property damage..
Which of the following would be "an insured" under a Business Auto policy?
Any person who is driving a covered auto owned by the named insured after receiving permission..
Sally's home is covered under an HO-3 policy. Coverage F of that policy will pay medical expenses for which of the following?
Anyone who is invited onto Sally's property and is injured while there..
Which of the following is NOT an exclusion of Coverage B under a Commercial General Liability policy?
Being sued when another company accuses the insured company of stealing their slogan and using it in their advertising..
The ACV settlement under a property insurance policy may be determined using "broad evidence rule", which means that the loss is valued:
By establishing the value of the property using any evidence a court finds relevant..
Under the Multi-Peril Crop Insurance program, the coverage providing the lowest level of yield protection available is:
Catastrophic Risk Protection (CAT) coverage
On a standard BOP policy, all of the following items have a limitation on the coverage amount if the cause of loss is theft, EXCEPT:
Computers.
Homeowners policies provide personal liability coverage that follows an insured anywhere in the world under:
Coverage E.
The medical payments coverage of a Commercial General Liability policy excludes all of the following, EXCEPT:
Customers slipping on the insured's wet floor..
Which of the following would NOT be excluded in the Coverage A - Exclusions section of the Commercial General Liability policy?
Damage from a fire caused by the insured in his rented office space..
An insured who would like to cover an employee while driving their own car on company time would need which of the following endorsements?
Employees as Insureds endorsement.
Which of the following is not covered by the supplementary payments section of a Commercial General Liability policy?
Expenses for first aid at the time of an accident..
A business covered by a standard Businessowners policy is shut down due to the acts of a civil authority. Which of the following additional coverages would NOT be subject to a waiting period before coverage would apply?
Extra Expense..
Brianna is applying for a new job at General Hospital. Which law limits how much information Brianna's bank and mortgage lender can share with General Hospital, regarding to Brianna's finances and credit score?
Fair Credit Reporting Act.
Which of the following would NOT be covered under the specified cause of loss physical damage coverage under a Business Auto policy?
Glass breakage
All of the following are perils NOT typically covered by property cause of loss forms, EXCEPT:
Hail..
Which of the following injuries would be covered under Part A of the Personal Auto policy?
Injuries to a pedestrian struck by the insured while driving the covered auto.
All of the following are true regarding the "Write Your Own" program of the NFIP, EXCEPT:
Insurers are required to participate in the program
All of the following are true regarding the "Write Your Own" program of the NFIP, EXCEPT:
Insurers are required to participate in the program..
A separate limit scheduled "per type of property" on a cause of loss form, is known as:
Insuring on a specific basis..
Under a Farm Property policy, the electrocution of covered livestock:
Is covered as part of the broad form perils for Farm property insurance..
Mitch is covered by a Personal Auto policy. One night a cow breaks through a fence and is standing on the roadway. Mitch does not see the cow until it is too late and he hits it with his vehicle. Coverage for the damage to Mitch's vehicle:
Is provided under Part D - Other Than Collision
Which of the following statements is TRUE concerning the Part D coverage of a standardized Personal Auto policy?
It can cover owned and nonowned automobiles..
Section I of a Homeowners policy covers all of the following, EXCEPT:
Locations owned by the named insured that are not described on the declarations page of the policy..
"Twisting" always involves some type of:
Misrepresentation..
Following a request for a hearing with the Commissioner, how soon must such a hearing be held?
No later than 30 days following the request.
Which of the following statements is TRUE regarding an Extended Reporting Period (ERP) of a CGL policy?
Once in effect, Extended Reporting Periods may not be cancelled.
The DP-3 standard Dwelling form provides:
Open peril coverage on the dwelling and other structures and broad form peril coverage on contents..
Which of the following types of bonds guarantees that all project materials will be paid in full by the contractor upon completion of the project?
Payment bond.
Homeowner policies typically provide coverage for all of the following, EXCEPT:
Personal injury
The Businessowners policy excludes coverage for all of the following, EXCEPT:
Property of others in the insured's care, custody, or control..
Which of the following best demonstrates the meaning of "contract of adhesion"?
Since the insurance company formulates the policy language, the courts usually will resolve any ambiguities in the insured's favor. .
What type of liability is specifically imposed by statutory law?
Strict liability..
What type of liability is imposed by law without regard to fault on those participating in certain activities or owning certain things that are considered especially hazardous?
Strict/Absolute.
Jerusha has her business automobiles covered under a Business Auto policy. She has purchased a new business automobile recently but was not required under her policy provisions to report her newly acquired auto. Based on this information, which BAP symbol is listed on the Declarations page of Jerusha's policy?
Symbol 1.
The insured auto dealer has opted to include Part IV - Garage Physical Damage coverage to her policy. Which of the following symbols must be indicated on the Declarations page of the policy for physical damage coverage to apply?
Symbol 31 indicates that physical damage coverage will be provided for the auto dealers' vehicles including owned autos, autos held for sale, and autos held on consignment, or trailer dealers.
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"?
The "Personal Effects" coverage extension will pay up to $2,500, but because the loss was only worth $2,000, that is the amount the insurer will pay.
Which of the following Commercial Automobile forms would be used to cover a limousine for hire?
The Motor Carrier Coverage form..
Which of the following individuals was NOT required to be in concurrence with certifying an act of terrorism under the Terrorism Risk Insurance Act of 2002?
The Secretary of Homeland Security.
Mr. Jones purchases a blender at a discount store. He brings it home, plugs it in and it malfunctions causing the house to catch fire. The fire destroys the blender, the home and its contents. It also causes bodily injury. Which of the following is NOT covered under the Commercial General Liability policy?
The blender..
Kathryn is covered under a property insurance broad cause of loss form. Which of the following statements is true for Kathryn?
The burden of proof lies with Kathryn to prove that a named peril in her policy caused her loss..
Gavin, the named insured under a Personal Auto policy, his daughter Tabitha, and two of her friends are riding in the covered auto when Gavin accidentally runs a stop sign, striking another vehicle. Everyone in Gavin's vehicle was injured as well as the driver and two passengers in the other car. Who would be covered for their injuries under Part A of Gavin's policy?
The driver and passengers in the other car.
An insured is covered under a CGL policy. He would like to purchase another policy to increase the limits of insurance for his commercial liability exposures. Which of the following statements is correct regarding the insured's situation?
The insured may purchase either a Commercial Umbrella or an Excess Liability policy to increase his liability insurance limits..
When a loss occurs and coverage is provided by a reciprocal exchange, which of the following is responsible to cover the loss?
The member insurers.
The Declarations page of an insurance policy contains:
The name and address of the insured and the duration of the policy..
The insured is wearing a diamond ring while on vacation in Europe. Her ring is valued at $1,500 is stolen. What coverage would apply under her Homeowners policy?
The policy will pay the loss less the deductible.
A worker has been injured on the job. He is off work for 4 weeks. The worker's weekly wage is $210. How much will he receive from workers compensation for loss of wages?
The worker will receive 66 2/3% of his average weekly wage. He was off from work 4 weeks. Four times $210.00= $840.00. $840.00 times 66 2/3 equals a payment due him of $560.00.
Under the DP-3 special form, which of the following would be covered?
Theft of outside lighting attached to the dwelling.
Which of the following best describes the reason for using various work classifications in the calculation of workers' compensation premiums?
To accurately reflect the risks of each employer.
Under a Businessowners policy, the "Hired and Nonowned Auto Liability" endorsement would cover:
Vehicles borrowed by the insured..
Which of the following is a covered basic form peril of the Homeowners policies?
Volcanic eruption..
Which of the following is NOT a duty of the insured in the event of an occurrence, offense, claim, or suit?
Voluntarily make a payment for incurred expenses..
The National Flood Insurance Program will pay which of the following amounts to assist with moving of property to safety when there is imminent flood danger?
$1,000.
Under the 1943 New York Standard Fire policy, the appraisal clause indicates that each party in a dispute must select an impartial appraiser within:
20 days
Which of the following is a type of "voluntary loss" taken to save the property from further loss?
A "General Average Loss" is a partial loss that is "voluntary". This type of loss is taken to save the property from further loss, such as an insured who uses a garden hose to extinguish a fire that has started on her couch. The water damage is "voluntary" but it prevented further loss to the house.
Which of the following basic coverages are provided under a Standard Fire policy?
Fire, lightning and removal..
Any corporation organized with a representative form of government solely for the mutual benefit of its members is a:
Fraternal benefit society. .
Gavin, the named insured under a Personal Auto policy, his daughter Tabitha, and two of her friends are riding in the covered auto when Gavin accidentally runs a stop sign, striking another vehicle. Everyone in Gavin's vehicle was injured as well as the driver and two passengers in the other car. Who would be covered for their injuries under Part B of Gavin's policy?
Gavin, Tabitha, and Tabitha's friends.
If the named insured is an organization as designated under a CGL policy, all of the following would be named insureds, EXCEPT:
Managers
Marty has full coverage under a standard Personal Auto policy for the three cars he owns. He and the members of his household are covered as insureds under the policy. Marty's 16-year-old son Gordy, spends the weekend at his friend Steve's home and during the visit, drives one of Steve's family's cars with permission. Gordy has an accident and he is at-fault for bodily injury to others. Which of the following statements best describes how this claim will be paid?
Part A - Liability of Steve's parents policy will be primary and the Part A - Liability section of Marty's policy will be excess to pay the claim..
All of the following statements are TRUE regarding Section II - Liability of the Garage Coverage form, EXCEPT:
Provides coverage when an employee causes damage to a customer's vehicle.
Which of the following is considered an Unfair Claim Settlement Practice?
Requiring a claimant to submit a preliminary claim report before moving forward on the claim.
Gino owns a pizza restaurant and has hired drivers to deliver pizzas to customer's homes in their own vehicles. His restaurant carries a standard Businessowners policy and a Commercial Automobile policy. One evening, one of Gino's hired drivers has an accident and injures other people. Those who were injured in the accident sue Gino's Pizza for damages. Which of the following statements best indicates how the claim will be handled?
The Commercial Automobile policy will respond to the claim..
All of the following statements are TRUE regarding the coverage of appurtenant structures covered by an NFIP policy, EXCEPT:
The Dwelling coverage form under the NFIP provides up to 10% of the building coverage limit for appurtenant structures as an additional amount of insurance.
The increased cost of compliance coverage on flood insurance provides:I. Policy limit coverage for ordinance and law changes.II. Coverage for flood plain management ordinance or law changes.III. $30,000 of coverage per building.
The correct answer is: II and III only.
In insurance terms, the phrase "severability of insurance" means:
The insurance applies separately to each insured..
Under a liability policy the insurance company will pay damages on behalf of an insured when:
When it is established that the insured is legally liable..
The MCS-90 Endorsement to a Truckers or Motor Carrier Coverage form can be cancelled:
With 35-days notice if either the insured or the insurer cancels..
An insured owns a set of six drawing pens designed and used by Benjamin Franklin. Each pen is worth $1,000 alone, but the set is worth $12,000. One pen is destroyed by a covered peril. Under the pair or set clause the insurance company will pay a maximum of which of the following amounts?
The company is obligated to repair, replace, or restore the set as one option. Since one pen was totally destroyed, there is no way to repair, replace, or restore the entire set. The second option is to pay the insured the difference between the actual cash value of the full set ($12,000) and the actual cash value of the undamaged part or parts. Each of the remaining pens is worth $1,000 for a total of $5,000 for the remaining five pens. The actual cash value of the full set ($12,000) less $5,000 leaves the insurer owing the insured $7,000.
What symbol is used for a non-owned auto under a Business Automobile policy?
Symbol 9. .
An insured is covered under an HO-2 form with a Coverage A limit of $125,000 and a Coverage C limit of $65,000. What amount will automatically be provided for Coverage D?
An HO-2 form provides 30% of the Coverage A limit for Coverage D - Loss of Use. 30% of $125,000 is $37,500.
Which of the following is a general summary of a policy?
Certificate of Insurance..
Which of the following is used to bring a standardized insurance form into compliance with state laws?
Endorsements
Which of the following best describes the purpose of the "insuring agreement" contained in an insurance policy?
To the insurer's promise to pay in case of a loss
All of the following are property policy additions and/or extensions of coverage that are likely to be amended by state statutory forms, EXCEPT:
Coverage for property removed.
Georgia licensees may carry forward continuing education credit not to exceed ___ of the annual continuing education requirement.
Credit for continuing education earned in one filing period in excess of the hours required may be carried forward to the next filing period, provided that credit carried forward may not exceed 50% of the annual continuing education requirement.
Which of the following statements regarding Crop-Yield Insurance is NOT TRUE?
It can cover the loss of crops or loss of income from crops.
Which of the following statements regarding Crop-Yield Insurance is NOT TRUE?
It can cover the loss of crops or loss of income from crops..
Which of the following statements is TRUE of Coverage F on the Farm Personal Property Coverage form?
Provides coverage for farm personal property on a blanket basis..
Matilda has been injured by a blender that turned out to be unsafe when she used it. Matilda has decided to file a lawsuit against the manufacturer for damages. Which of the following is NOT grounds for which Matilda may bring the lawsuit?
Breach of contract..
Nixon Construction Company carries a CGL policy that has a $500,000 per occurrence limit, $1,000,000 general aggregate limit and a medical payments limit of $25,000. Employees cause $200,000 property damage and $400,000 bodily injury when persons are injured and property is damaged in connection with an ongoing construction project. Two of the employees suffer medical expenses of $15,000 each. How much will the insurer pay on behalf of Nixon Construction?
We know that the claim was caused by an operations hazard because the question states that the claim was caused by an "ongoing" construction project. This means we look to the "general aggregate limit" and "per occurrence" limits to determine how much will be paid on the claim. The most the policy can pay is the "per occurrence" limit of $500,000. The employees are not covered under medical payments. They would collect under workers compensation coverage. Remember that the policy cannot pay more than the "per occurrence" on any one claim. Therefore, in this question the insured would have to pay the remaining $100,000 of this claim because the insurer will only pay $500,000 of this $600,000 claim.
An insured is covered under a standard Businessowners Policy for replacement cost coverage and has sustained a fire loss to his building. Due to changes in the building codes in his town, it's going to cost $20,000 extra just to comply with the new building codes and make the repairs. How much, if any, will the BOP pay for these extra costs?
There is a limited amount of $10,000 for the "Increased Cost of Construction" in order to comply with newer ordinances or laws. However, this coverage applies only to buildings insured on a replacement cost basis. Further, the $10,000 coverage cannot be used to pay any costs after a loss for an ordinance or law, that the insured was required to comply with before the loss, but failed do so. It is important to note that the ordinance or law exclusion is still in place, preventing the insured from assuming that the entire policy limit is available to pay these costs to bring the building up to code after a claim. The policy will then provide "Increased Cost of Construction" coverage through an "additional coverage", but these costs are limited to $10,000.
