casualty simulation exam missed q's
after appointing agent, how long does insurer have to file with commish notice of appt?
15 days
once passed licensing exam, results valid for _ yrs
3!!
insured with claims made policy may request in writing claim and occurrence info from insurer at any time up to 60 days after policy ends, insured must give info within
45 days
if insurer meets all state reqs, certificate fo authority should arrive in _ days
60!!
employee theft crime policy includes extension that applies to employees outside coverage territory for up to _ days
90
what type of property valuation will policy pay full value on schedule regardless of appreciation of depreciation
AGREED VALUE
liability coverage of BOP written on
BO liability form
professional liability policy will provide coverage for loss in all cases except when doctor was
CRIMINALLY negligent
party to surety or fidelity bond who promises to fulfill obligation is the
PRINCIPAL
what policy written on claims made form?
PROFESSIONAL LIABILITY INSURANCE
loss valuation contrary to indemnity?
REPLACEMENT COST
which provision states legal right or interest in policy may be transferred?
assignment
insurance producer must disclose his or her name and agency
before personal solicitation
which fidelity bond pays no more than limit of liability for each separate occurrence no matter several employees involved in loss?
commercial blanket position
what kind of deductible applied between basic coverage and major medical coverage
corridor
_ _ audit lets insurer inspect insured's books at end of policy term to make sure sufficient payment has been collected for exposure
deposit premium
in disability income insurance, deductible stated in days instead of dollars known as
elimination period
when employee injured and gets workers comp, cannot sue for more damages, called
exclusive remedy
all describe concept of strict liability except
imposed on defendants engaged in hazardous activities
all statements describe concept of strict liability except
imposed on defendants engaged in hazardous activities
CGL coverage B will cover
inadvertent injury to others caused in course of advertising insured product
according to workers comp form, state should be listed in pt 3 when
insured expects to extend operations to that state
most likely to occur if determined premium was too high
insured gets return premium
which is unfair claims practice?
insurer advises if claim goes to arbitration would get less than what's offered
any regularly salaried employee of licensed insurer, without license or other qualification, may act on behalf of insurer provided
licensed producer participates in sale of insurance
true regarding business liability and medical payments coverage?
loss of electronic data excluded
insured get insurance policy 5 yrs ago, last year gets check for dividends, this year no check. what type of insurer?
mutual
business owner not aware of loss until several yrs after policy expires, which types of policies would cover loss?
occurrence policy
rental reimbursement only available if policy includes what coverage?
other than collision
which liability exposures most likely for small retail boutique
premises
payment for medical, loss of wages, funeral or cost to repair property is
special
2 types of compensatory damages
special and general
property insurance policy not subject to any coinsurance reqs but has set amount of insurance for property would use
stated amount
prior to state directed workers comp laws, employees had to
sue employer for loss and prove it
purpose of claims made form?
to allow insurer to determine adequate rates for unknown losses
purpose of claims made form
to allow insurers to get adequate rates for unknown losses in future
