LOL
ray is insured with an auto liabilty policy his insurer decides however not to renew the policy how many days prior to the expiration of the policy must ray be notified
45
An insred has a peronsal auto policy with the following limits, 50/100/25 the 25 refers to
property damage control
Which of the following types of property is not moveable
real property
What are the types of compensatory damages
special and general
Which of the following exposures is not covered under the garage liabilty forum
Contractual liability
Which of the following exclusions applies to both personal injury and advertising injury in the business owners policy
Willful violation of a penal statute or ordinance committed by the insured
The commissioner must examine the transactions and records of each domestic insurer at least ever
5 years
An insured was judged at fault in an automobile accident he has the 100/300 bodily injury liability coverage three other individuals were injured in the vehicle hit by the insured. they were award damages of 150000 75000 and 75000 what amount if any was not covered by his insurance policy
50000
When does an insurer duty to defend a suit or claim end in a commerical general liabilty policy
When loss payments equal the applicable limit of insurance
all of the following individuals are exempt from the state licensing requirements except
agents selling health insurance
For a producer to act on behalf of an insurance company the producer must have a
appointment
Insurers offering homeowners insurance polices in maryland must offer coveage for wate that backs up thru sewers or drains and is not caused by
insured
according to the law of agency, insurance producers represent
insurers
a structure may be eligible for coverage under the national flood insurance program if it meet all of the following requirements except
is entirely over water
Which of the following is not true of the agent implied authority
it is specifically stated in the contract
Insurance rates developed by the underwriter based on his skill and experience instead of actuarial analysis are known as
judgement rates
Lisa is a property and casualty producers who sells flood insurance Lisa has noticed that her continuing education requiremnts are different from Mikes who deos not sell flood insurance how are lias continnung education requirements different from mikes
lisa must recieve continung education directly related to flodd insurance and mike does not
Agents may be found guilty of defamation if they make a false statement that is intended to?
maliciously criticize another insurance company
Which valuation method takes into consideration what a willing buyer would pay for an insured property
market value
what coverage form in the farm policy insuers equipment on an open peril basis
mobile agriculture machinery and equipment
An insurance company that is ownerd by the policy holder is called a
mutual insurance
What kind of coverage does form DP3 provide
open peril
Coverage B - Personal and Advertising Injury responds to claims arising from
suits alleging infringement of a copyright
Which of the following types of bonds guarantees that a supplier will furnish supplies material products and equipment as specified in the written contract
supply bond
if a producer violates an insurance law who would impose the penalty
the commissioner
Each of the following may be insured under an HO-3 homeowners policy execpt
the owners occupant of a condominium unit
insruance rates are regulated to the extent of all the following except
they are in relation to the cost of living
The owner of arental dwelling insured under a DP2 turns off the heat in the insured dwelling durin the winter months because the dwelling is not occupied the buildings water pipes freeze and break causing damage how will the polciy react to this loss
this loss is excluded from coverage
What is if the purpose of a seperate notice on the collision coverage of a priavate passenger autos
to inform the insured that wiavers or additonal covers is not required ona rented auto
two individuals are in the same risk and age class but they are charged different rates for their insurance polcies due to an insignificant factor this is an example of
unfair discrimination
What amount of coverage if provided to HO polices for watercraft
up to 1500
bdf inusrance is not planning to renew sams property policy how much notice of this nonrenawal must bdf insurance give to same
45 days
The business owners policy liability coverage form will cover medical expenses incurred and reported within what maximum time period after the accident
1 year
The personal property off premises extension of dwelling forms provides limits of coverage up to
10% of coverage C anywhere in the world
if an individual willfully violates provisions of fair credit reporting act what is the maximum civil penalty
2500
An individual just applied for national flood insurance how many days can she expect to wait before coverage is effective
30
The second injury fund will pay the benefits in which of the following situations
An employee with a previous injury suffers a second injury that causes the disability to be more serious
Which of the following would not be covered as a loss under coverage d of a homeowners policy
An insured leased a dwelling for 5 years. two years later the property owner died and the new property owners wanted to make the property their principal residence so the lease was canceled.
Which of the following forms must surplus lines brokers obtain from the commissioner before they may place surplus lines policy
Certificate of qualification
Which of the following is covered under a dwelling policy
Fire caused by an earthquake
when an insured desires to cancel or non-renew a property inusrnce policy, what is the proper procedure for the insurer to follow
Give 45 days advacne notice and advise the insured of his ability to obtain replacement insurance
Which form of insures both buildings and personal property on an open peril rate
HO-5
Which of the following injuries may be covered under Coverage C-medical payments of a commercial general liability policy?
Injuries to another member of the general public that occurs on premises
Which of the following is not true regarding the automatic
It does not required additional premiums
With respect to the commerical package policy an interline endorsement is one that
May apply to more than one line of insurance that is included in the package
What does HO personal proerty coverage not cover
Personal property of roomers not related to the insured.
The garage coverage form is written to cover the insurance needs of an insured in the business of selling, rearing, servicing, or storing automobiles. Which o the following coverage are not included in a garage policy.
Physical damage on a customer auto
The exact, direct, uninterrupted cause of loss is the
Promimate cause
An insureds child ran into a neighbors planter on his bicycle and broke the planter and ruined the plants. The cost to replace the planter was 400 and the cost to replace the plants was 100. Which section of he insureds homeowner policy would pay
Section two with no deduction
Although a businessowners policy will cover fire damage legal liability, which of the following statements is true
The general aggregate does not apply to fire damage legal liability
If an insurance policy has the additional coverage provision, how does it affect the policy premium
There is not additional premium
What is an insured contract
Those contracts that are automatically covered under the exposure of premises coverage in a general liability insurance contract
With reagrd to homeowners policy section two which of the following does not meet the definition of insured location
a plot of farmland owned or rented by the insured
Which of the following best describes a rebate
a producer returning part of her commission to her client as an inducement to buy
Which of the following best describes a rebate
a producer reutring part of her commission to her client as an inducement to buy
which of the following could be insured with replacement cost coverage under the flood insurance program
a single family home
in auto insurance what is the term that defines parts that are used in the repair of an insured vehicle by other than the original manufacturer
after market parts
Which of the following would be added for coverage under a property policy by an endorsement
addtiional insureds
Which coverage form insurers the owners personal property in condominiums
condomiuium unit-owners coverage form
A performance bond is an example of which of the following types of bonds
contract
rental reimbursement will pay for which of the following in the event the insureds vehicle has been damaged
cost of renting a vehicle
Other-than-collusion would cover financial losses due to
damage to an insured's car caused by wind or hail
to determine the actual cash value of an insured property what must be dedected from the current replacement cost
deprecated value
The commerical crime coverage that would cover losses resulting from the theft of money, securites and other property by employees is
employee theft
The deducible under earthquake coverage is stated as what
percentage of loss
Which of the following is the cause of loss
peril
Which provion defines how the policy will respond if there is other valid insurance written on the same risk
other insurance
An employer that fails to comply with Workers compensation laws can be found guilty of a mesdemeanor ans subject to a maximum fine of
1000
Other than perils, the difference is the three DP forms is in coverage provided. Which of the following coverage options is covered by DP 2 and DP 3 but not DP1
Coverage E Additional Living Expense
all of the following are additional coverages under a homeowners policy except
outbuilding
Which of the following is FALSE concerning liability coverage of a business auto policy
The company will reimburse the insured for all loss
Under coverage B other structues a homeowners policy provides coverage for other strucutes on the residence premises, which of the following statements is not ture of this coverage
any loss paid under Coverage B reduces the Coverage A limit
An executive is accused of sexual harassment what type of coverage would respond
employment practices liability
What policy would business owner whose business fills scuba tanks most likely need to insure unfired pressure vessels and compressors
equipment breakdown
If an agent following the rules and terms of his agent contract he is exercising his
express authority
an important fact about the financial status of an insurer was deliberity withheld. which of the following terms best describes this action
false financial statement
an insured has a personal umbrella with 2000 self insured retention assuming no other policy is involved how much would the umbrella pay after a 12000 personal injury liability claim
10000
How often are insurance producers required to complete continuing education requirements
2 years
Which of the following risks would be eligble for coverage under a dwelling policy form.
A duplex that is occupied by two families each of which has a bedroom rented to a boarder
When insurance is written on a dwelling form, which of the following types of property would be inusred under Coverage B
A garage separated from the dwelling
The federal act that provided more favorable benefits for interstate railroad workers by allowing the injured worker to sue the employer for negligence
federal employers liability act
Under the employee theft coverage when a covered employee is found to have participated in a dishonest act the coverage for that employee
immediately