Insurance exam: Missed questions

additional coverages in a HO policy

-trees, shrubs, and other plants -payment for reasonable repairs and debris removal following a covered loss -fire department service charge

unless additional coverages are added to the BOP, the max amount of coverage on an outdoor sign is

1,000

to cancel a PAP for nonpayment they must give notice of at least

10 days

waiting period for transportation expenses coverage for a loss other than theft of a covered vehicle

24 hours

provides open peril coverage for dwelling and contents

HO 5

emergency flood program goes into effect when

a community applies

risk eligible for coverage under the DP form

a duplex occupied by 2 families, each of which have a bedroom rented to a boarder

certificate of insurance indicates

amounts and types of insurance

replacement cost coverages under the BOP

an 80% insurance-to-value requirement is in place

disagreement on value

appraisal

in order to receive transportation expenses under a PAP following damage by a collision, an insure must have

collision coverage

exaggerates financial condition of one of its competitors and makes it sound worse than it is this is an example of

defamation

loss valuation method is best described as the process of

determining the premium charged and the amount of insurance required on a specific property

the federal act that provided more favorable benefits for interstate railroad workers by allowing the injured worker to sue the employer for negligence is the

federal employers liability act

to have insurable interest, the policy owner must face

financial loss

which of the following liability coverages in a general liability policy is NOT subject to the aggregate limit

fire legal liability

non compliance with workers compensation laws

forced payment of billing for services rendered by any private insurer that "binds" coverage based on an employees request for coverage

insurance to value

found in HO policy and provides replacement cost settlement to policyholders who carry adequate insurance

solicitation, negotiation, effectuation or advising related to an insurance contract

insurance transaction

how does insurance distribute the financial consequences of individual losses

it transfers the risk to all persons insured

debris removal coverage under a BOP

limit of liability is 25% of the sum of the direct loss payment plus the deductible amount

insurers responsibility for payment under a policy

limits of liability

insurers duty to defend a suit or claim ends in a CGL policy when

loss payments equal the applicable limit of insurance

100/300/50. the number 100 means

max limit for bodily injury claims that can be paid for one person

the other major coverage provided by the BOP form

medical payments

symbol 7

newly acquired vehicles if the insurer already covers all autos owned by the insured

policy limits are the maximum amount an insured may collect, or for which an insured is protected under the terms of the

policy

the CGL coverage A- BI and PD provides coverage for

premises

designed to assume risks that are generally unacceptable to the normal insurance market

residual risks

right to take property after paying loss

salvage

self-insured retention

the amount of loss the insured is willing to absorb without insurance protection is known as

a small appliance manufacturer in this state provides products around the globe. a customer in Switzerland is injured using one of its products. if the appliance manufacturer is found liable for the damages, why would its CGL policy cover the customers claim for bodily injury

the appliance was manufactures in the U.S.

a type of injury the could incur additional premiums and/or increased benefits paid by the employer

the employers willful failure to provide required safety goggles

PIP coverage in auto liability policies issued in the state

the insured may reject this coverage in writing

you do not need what in the reports required by the Texas department of insurance based on complaints about unfair settlement practices

the resident state of the claimant

surplus lines insurance can be obtained when

they are unable to procure insurance through an authorized insurer

mortgage clause naming homeland as payee and John and Carol Thomas just purchased. if they suffer a fire to their home

they will be considered co-claimants and receive a loss reimbursement

terrorism risk insurance act

to share the risk of loss from terrorists attacks with the insurance industry