WRONG QUESTIONS

An insured was judged at fault in an automobile accident. he he has the the 100/300 bodily injury liability coverage . three other individuals were injured in the vehicle hit by the insured. They were awarded damags of 150,000 , 75,000 and 75,000 what amount if any was not covered by his insurance policy ?

50,000

joe refused matts written binder for a 20,000 policy as proof of insurance . joe is now being fined and held liable for the damage. what is the maxium amount that joe will be fined?

500

Joes notice of cancellation did not state a reason for the decision. joe writes a request to his insurer for the reason. how long does the insurer have to supply joe with the reasons for its decision?

6 days after receiving joes request.

using the pro rata method, if a property is covered by comapny A for 20,000 and company b covers the same property for 40,000 how much will company a pay on 24,000 loss?

8,000

a personal umbrella policy may act as excess ovver any of the followin insurnace coverage polices except

AUTO collision coverage

The obligation to compensate injured workers without regard to fault or negligence is known as

absolute liability

an insurance policy that covers a private passenger auto in nevada may exlucde reduce or limit coverage if a named insured or any member of a named insured household was bodily injured linflicted by

any named insured

In order to get a nonresident license in this state, agents must

apply and pay a fee to a nonresident state that reciprocates

when do binders expire?

as soon as the policy is issued ?

In order to recieve transportation expenses under the personal auto policy following damage to your auto cuased by collision you must have

collision coverage

an insured limit of liability applies to ta toal of damage for bodily inury and property damage resulting from one accident which may be used in any combination of amounts not to exceed the single limit. what type of limit does this insured have?

combined single.

herb is a musical instruments dealer at an inland marine site. he makes improvements to his building company automobile furniture and tools. which of these improvements is least liekly to be covered under his inland marine policy?>

company automobile

which of the following entities is eligible for a buisnessowners policy?

convenience stores

which of the following types of property would be covered under coverage C - personal property in a dwelling policy ?

rowboats

an insured child ran into a neighbors planter on his bicyle and broke the planter and ruined the plants. the cost to repalce the planter was 400 and the cost to replace the platns was 100 which wection of the insured homeowners policy would pay ?

section 2 with no deductible

which of the following statements is correct regarding business income coverage under the buisinessnowners policy BOP

the buisiness income losses are paybable for 12 consecutive months following the occurence

A golfer slices a tee shot and the ball goes through the window of a house beside the fairway.

the golfers homeowners liability coverage

which would not be covered by an insured uninsured motorist coverage?

the insured causes a head on collision with the car of an ininsured motorist

an insured was backing his car out of the driveway and hit a fire hydrant. the automobile sustained 1,300 of damage to the bumper. the insured auto policy has a 500 deductible which of the following is true?

the insured is responsible for the first 500 of any claim that me makes on his policy

all of the following are considerations in determing which states law applies when a worker is required to travel into another state and is injured while working in other state except

the insurers chartered location or domicile.

if the administrators finds that an employer has failed to provide workers compensation benefits to its employees the employer will be charged

the premium owed to a carrier plus interest.

homeland housing corp holds a mortage on a property that john and carol thomas purchsed john and carol have a homeowners policy with home protection insurance which has a mortagee clause naming homeland as a loss payee. If john and carol suffer a fire to their home

the thomasses and homeland will be considered co claimants and recieve loss reinbursement from home protection insurance

if an insurance policy has the additional coverage provision, how does it affect the policy premium?

there is no additional premium

which of the following is not true regarding insurance consultatnts?

they may be employed by licensed producers or brokers.

an agent who knowingly misrepresents mateiral information for the prupose of inducing an insured to lapse forgeit change or surrender al life insurance policy or annutiy has commited an illegal practice known as

twisting

supplemntery payment under the personal auto policy include all of the following except

unliimited cost of bail bonds

the insured product under a commerical general liability policy does not include which of the following?

vending machines rented to others

when in insured's gardener was spraying weeds in his lawn he failed to notice that hte wind was drifting the spray into the neighborys yard where he damaged their flower bed the insured was found to be legaly libable for this damage. this is an example of

vicarious liability

a producer previously licensed in aother state recently moved ot nevada and now wishes to obtain a resident license. in order to avoid education and examination requirements how soon must the licens application to be recieved?

within 90 days after establishing legal residence

Medical beneftis under works compensation statues are provides

without limit

which of the following would be an example of an insurer participating in the infair trade practice of discrimination.

charging the insured higher premiums based on her race

the businessowners policy bop extension coverage form for personal property off premises is limited to

10,000

Unless additional coverages are added to the buisiness owners policy bop, the maxium amount of coverage on an out door sign attached to a building is limited to

1000

how long is the certificate of registration as an adiminstrator valid ?

3 years

if an authorized insurer becomes insolvent unpaid claims may be turned over to the nevada insurance guaranty association. the maximum liability of the assocation for each covered claim with respect to any one life is

300,000

how is a professional libability policy written?

claims made

which form insurses both building and personal property on an open peril basis?

HO - 5

a homeonwer has misplace some of her insured personal property and has no idea what may have ahppend to it. which HO policy form would cover such a loss?

HO -5

The amount of loss the insured is willing to absorb without insurance protection is know n as

Self insured retention

what kind of insurance do you have if it indemnifies you against a loss arising from the lack of intergrity or fidelity of person holding positions of trust from the insolvency of debtors or from breachers of contract?

Surety insurance

which of the following is most likely ineligible for coverage under the businessowners policy?

a bank

which of the following would be required to become licsened as an insurance producer ?

a customer service representative who solicits no more than one policy a year

the failure by an insurer to issue a check to a garge chosen to perform repairs on the insured vehicle within 30 days of recieving the statement of charges is

a delay

in terms of workers comp which of the following would not be considered an employee

a theatrical performer

in a personal auto policy pap a covered auto includes all of the following except

a van used in the delivery business

insurance rates must be established to meet all of the follwing criteria except

be affordable for everyone.

which of the followin components is not part of a policy strucutre?

benefits

two men are partners in a moving company they have two trucks used to move property of others. they should insure their trucks under a

business auto policy

during policy solicitation an insurer exagerates the financial condition of one of its competitiros and makes it sound worse than it is. this is what>?

defamation

which of the following is covered by auto other than collision comprehensive coverage?

electric equipment required for the normal operation of the car

The commerical crime coverage that would cover losses resulting from the theft of money, securities and other property by employees is

employee theft

To have insurable interest in the person or property covered by a property insurance policy, which of the following potential risks must the policyowner face?

financial loss

which of the following is covered under a dwelling policy?

fire caused by an earthquake.

under the employee theft coverage, when a covered employee is found to have participated in a dishonest act the coverage for that employee will terminate

immediately

which of the follwoing provisions is usually found in homeowners polices and provides a replacement cost settlement to policy holders who carry adequate insurance?

insurance to value

which of the following is not true regarding the automatic increase in insurance endorsement in dwelling polices?

it does not require additional premium

How does insurance distribute the financial consequences of individual losses?

it transfers the risk to all persons insured

which of the following policies can be written by a nonresident agen without a resident agents countersignature ?

life insurance

a couple notcied yesterday that several items of personal property were missing from their home. there has not been any apparent robbery commited the items are merely missing and have seemingly disappeared mysteriously. the couple will

not be able to make a claim for the property since it is considered to have mysteriously disappeared

among people in hte same class and life expectanty which of the following facts can be used to influence premium rates ?

occupation

In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property covered by a dwelling policy. How many deductibles will the insured have to pay before the policy covers the damages caused by the eruptions? 1. Zero 2. One 3. Two 4. Three

one

which statement best describes agreement as it relates to insurance contracts?

one party accepts the exact terms of the other partys offer

which of the following would be covered under a building and personal property coverage form ?

outdoor sign

which of the following would be covered under a building and personal property coverage form?

outdoor sign

the garage coverage form is written to cover the insurance needs of an insured in the business of selling reparing servicing or storing automobiles. which of the following coverage are not included in a garage policy ?

physical damage on a customers auto

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

policy

Which of the followin would not be covered by commerical inland marine policies?

property lost due to a military action

the insurance company requires that an insured installs a fire alarm and an automatic sprinkler system as a condition for coverage. this is an example of what?

protective safeguards endorsement