Casualty Sim One

Who may sign and verify a minor's application for a driver's license before it will be issued?

An adult sponsor

Under farm liability, Coverage H includes

Bodily Injury

Which of the following is NOT found in a commercial package policy

Certificate of authority

All of the following are supplemental payments found in liability policies EXCEPT

Costs the insured incurred in hiring an attorney

All of the following are optional coverages that may be attached to an HO-3 policy, EXCEPT

Dwelling replacement cost

In liability insurance policies, supplementary payments are made

In addition to the limit of liability

Which rating method provides an insurer with that portion of a rate that does not include provisions of expenses (other than adjusting expense) or profit and is based on historical aggregate loss and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time?

Loss costs rating

An automobile liability insurance policy that is purchased to satisfy the requirements of the Wisconsin Financial Responsibility Law must contain all of the following coverages, EXCEPT

Medical payments

All of the following would be covered under the medical expense coverage of a businessowners policy EXCEPT

Mental health counseling

Illegal use of narcotics would be an example of a

Moral hazard

A notice of nonrenewal of an auto insurance policy must contain

The specific reason for the nonrenewal

Auto liability policies issued in Wisconsin must contain a provision to provide coverage for medical payments for the protection of all persons using the insured vehicle from losses resulting in bodily injury or death, in an amount of at least

$1,000

Which of the following exposures is insured under Coverage I - Personal and Advertising Injury Liability?

Unintentional act arising from the operation of a farming business

The neighborhood association, of which an insured is a member, has become liable for the damage to a third party. Each member of the association has been assessed a portion of loss equal to $2,000. How much will the Loss Assessment additional coverage of the insured's homeowners liability policy pay?

Up to $1,000

An insured's 9-year-old son threw a ball, accidentally breaking a neighbor's plate glass window. The insured was found legally liable for the cost of replacing the window. This is an example of

Vicarious liability

An insurance company receives an application with some information missing and issues the policy anyway. What is this called?

Waiver

An advertising company has its annual holiday party employees and customers, after which a customer who had too much to drink is involved in an automobile accident. Occupants of the other car involved in the accident sue the company for serving the customer too much alcohol. Will the company's businessowners policy provide coverage?

Yes, none of the exclusions will apply.

Which of the following is NOT considered an insured contract under the Commercial General Liability Policy?

A written agreement which indemnifies a person for fire damage to the premises rented to the insured

In a personal auto policy, the medical payments coverage is similar to

Accident insurance, because it pays medical expenses regardless of fault

An insurance agent's responsibilities include all of the following EXCEPT

Represent the client

Shipbuilders and repairers are covered by

The Jones Act

An agent is presumed to have exceeded the occasional exchange of business if the agent places more than how many insurance risks per calendar year with all insurers?

25

A surplus lines licensee must maintain records that are open and available for inspection by the Commissioner for how long after termination of the contract?

3 years

An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How many days in advance must the insured be notified?

60

Which of the following statements is INCORRECT with regard to surplus lines insurance?

Policies written by a surplus lines insurer typically contain standard coverages and forms