missed questions part two

an executive is accused of sexual harassement. what type of coverage would respond?

employment practices liability

what policy would a business owner whose business fills scuba tanks most likely need to insure unfired pressure vessels and compressors?

equipment breakdown

A property insurance provision that allows major coverage to be extended to specific types of property loss that would not otherwise be insurance is known as

extensions of coverage

what is the purpose of requiring licenses for persons who transact insurance?

protect the general public

which of the following types of property is NOT moveable?

real property

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

self-insured retention

all of the following statements regarding personal property coverage in the HO program are corret EXCEPT

the HO-3 policy covers mysterious disappearance of personal property

In a liability policy with split limits of 25/50/25, which number is the max amount that would be payable in the event of damage to a person's property?

the amount of the third number: $25,000

an insured was having a new home built. the contractors found a solid rock formation and found it was necessary to blast the formation in order to remvoe the rocks. The force of the blast broke several windows and some chinaware in a neighbor's home. Who pays for the damage?

the contractor

what ypes of injuries could incur additional penalties and/or increased benefits paid by the employer?

the employer's willful failure to provide required safety goggles

which form under the commercial property policy provides the best coverage for commercial plate glass, glass frames, glass lettering and glass ornamentation?

the glass coverage form, not a cause of loss form

a golfer slice a tee shot and the ball goes through the window of a house beside the fairway. the broken glass is paid for by

the golfer's HO liability coverage

an insured was backing his car out of the driveway and hit a fire hydrant. the automobile sustained $1,300 of damage. The insured's auto policy has a $500 deductible. Which of the following is true?

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

which of the following best depicts the law of large numbers?

the larger the pool of risks under study, the more accurate the predictions will be

an insured uses a restaurant's valet parking services. The restaurant hires a third part to perform the valet services, who, in term, rents parking spaces in a private parking garage. The valet gets into an accident with the insured's car. whose insurance coverage will be primary in this situation?

the valet services' insurance

what is the purpose of reinsurance?

to allow the insurer to share risk with other insurers

when does the federal emergency flood insurance program go into effect?

when a community applies for the program

what is a bailee responsibile for?

property of others in his custody

an insured rents out a bedroom in his residence for $50 per week. The residence is badly damaged by fire. During the three weeks required to repair the fire damage. The insured pays $900 in rent for a short-term apartment, and the renter is forced to find other accommodations. How much would an HO-3 pay under Coverage D?

$1,050

a trucking company has a $1 million umbrells policy in place. the businessowner agrees to maintain 200/500/100 limit on auto liablity. After a car accident, the business is sued. injuries are awarded to a single injured party in the amount of $300,000. it turned out the business acutally carried only !00/250/50 auto liabilty limits. what is the total amount the umbrella will pay?

$100,000

When an insured purchased his home 10 years ago for $80,000, it had a replacement cost of $100,000. Today the home as a replacement cost of $200,000 and has depreciated by 4% each year. The insured' home has an actual cash value of

$120,000

an insured has $5,000 of medical coverage in a personal auto policy at the time of an accident. The insured and 3 passengers are injured. The medical expense are: $8,000 for the insured, $4,000 for the first passenger, $6,500 for the second and $1,200 for the second. How much will the policy pay under the medical payments coverage?

$15,200

a commercial building insured on a 80% coinsurane policy is valued at $500,000. To avoid a coinsurance penalty, at the time of a partial loss, the building would need to be insured for at least

$400,000

an insured was juged at fault in a automobile accident. He has 100/300 bodily injury liabiltiy coverage. three other individuals were injured in the vehicle hit by the insured. They were awarded damages of $150,000, $75,000 and $75,000. What was NOT covered by his insurance policy?

$50,000

an individual just applied for National Flood insurance. How many days can she expect to wait before coverage is effective?

30

for all policies that are written or renewed on a residential property in the state of California, the insured is provided a disclosure statement. The agent or insurer must obtian the applicant's signature acknowledging reciept of the disclosure form within ____ of the date of the application beginning at the time of the original application

60 days

Coverage C in the HO policvy forms offers all of the following EXCEPT

Coverage for loss of use

section III of the business auto policy provides physical damage coverage. All of the following are physical damages that may be selected coverages EXCEPT

Limited peril coverage

which of the following would NOT be eligible for coverage under a personal auto policy?

a vehicle purchased 90 days ago

an insurer who trancts insurance in this state but whose articles of incorporation are registered in Canada is considered what type of insurer?

alien

all of the following persons would be covered under a business auto policy EXCEPT

an employee of the named insured operating an auto that is owned by the employee's spouse

you are at fault in an auto wreck out of state. How does your company adjust?

at least to the minimum required by that state

the equipment breakdown coverage form provides coverage for all of the following EXCEPT

bodily injury liability

in order to receive transportation expenses under the personal auto policy following damages to your auto caused by collison, you mudt have

collision coverage

which of the following is NOT true regarding the automatic increase in insurance endorsement in dwelling policies?

it does not require additional premium

which of the following describes an insurer's responsibility for payment under a policy, as stated in the common policy provisions?

limits of liability

which of the following is the other major coverage provided by the businessowners liability coverage form?

medical payments

which of the following is correct regarding the California Workers Compensation law?

minimum and maximum payments ger adjusted according to increases in the state average weekly wage

an insurance company that is owned by the policyholders is called a

mutual insurer

what kind of coverage does Form DP-3 provide?

open peril

the defendant being released on a surety bail bond is the

principal