Practice exam missed questions

The BOP contains a seasonal increase that automatically increases the limit of insurance for BPP by what %

25%

the commissioner inssues a cease and desist order and recieves a request for a hearing. within how many days must a hearing be held?

30 days

min auto liability limits in TX

30/60/25

Common carriers are required to issue a what to every person for which they transport goods?

A uniform bill of lading

Max penalty for habitual willful noncompliance with the Fair Credit Reporting ACt?

$2500

A plasterer has completed a job. What kind of liability coverage would protect them if the plaster falls and hurts someone because they did not perform the job correctly?

completed operations

workers compensation is available through the commercial package policy, T/F?

false

persons covered under an insurance policy whether named or not are known as?

insureds

Who is considered an employee in a commerical general liability policy?

part time worker full time worker leased worker

Loss sustained form

pays for losses that occur during the policy period are are found up to 1 yr after the policy is terminated

property insruance that provides $100k for a building and $50k for personal property at a single location is called

specific coverage

under the commerical property coverage program the basic causes of loss form insures against loss caused by

sprinkler leakage

Homeowners polices provide coverage for?

up to $2500 of business prrop while on the premises

Earthquake coverage...

-may be written in a difference in conditions policy -excluded by most property forms -may be added through endoresements

What is considered a cause for flood conditions covered by the National Flood Insurance Program?

-overflow of waters -rapid accumalation of runoff -mudflow

the commissioner issued a cease and desist order on an agent. if the agent wants a hearing, how many days do they have to request this

60 days

what is the deductible of a personal liability unbrealla policy called?

SIR (self insured retention)

the property and casualty insurance guaranty association maintains what accounts?

auto insurance workers comp account all other insurance account

in commercial general liability policies, which of the following has a per person limit?

medical expenses

when does coverage begin under the builder's risk form?

on the date construction starts

before an insurer will pay any loss, what is required from the insured?

proof of loss

Property is insured on a what basis?

replacement cost

an employee is entitled to what kind of benefits if the employee has a diability and has not attained max medical improvement?

temporary

the occurernce form trigger is based on?

the date when the damage/injury occurs

When a regular bill of lading is issued, who will be responsible for the invoice cost of any damaged property?

the person to whom the goods are being shipped