PNC study questions

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

Row boats

unless additional coverages are added to the businessowners policy (BOP) the max amount of coverage on an outdoor sign attached to a building is limited to

$1000

A commercial building insured on an 80% coinsurance is valued at 500k. To avoid coinsurance penalty, at the time of a partial loss, the building would need to be insured for at least___

400k

a person acting as a public adjuster without first being licensed can be subject, for each violation to a penalty fine of

500 or 6 months in jail

An executive is accused of sexual harassment. What type of coverage would respond?

Employment practices liability

Which of the following is a federal act the covers crews of ships the same as railroad workers?

Jones Act

All of the following are true regarding the Federal Credit Reporting Act EXCEPT

Reports may be sent to any who requests one

For an additional premium, the extended coverages written on the basic form dwelling policy would cover which of the following?

Riot

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

in order to obtain a nonresident license in this state a producer must

apply and pay q required fee

how is professional liability policy written

claim made

which part of the policy clarifies the terms that are use throughout the policy?

definitions

when an insurer desired to cancel or non renew a property insurance policy, what is the proper procedure?

give 45 days' advance and advise the insured of his ability to obtain replacement insurance

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

golf owners HO liability covg

Which of the following is not true regarding the automatic increase in insurance endorsement in dwelling policies?

it does not require additional premium

With respect to the commercial policy, an interline endorsement is one that

may apply to more than one line of insurance that is included in the package

what type of coverage is PIP

no fault

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

one party accepts the exact terms of the other party's offer

Underwriters use all of the methods to protect the insurer against adverse selection except

only accepting a small percentage of applicants

What does HO personal property coverage not cover?

personal property of roomer not related to the insured

All of the following statements concerning Surplus Lines Brokers are true EXCEPT

surplus lines brokers are not permitted to be licensed as an insurance agent

Which of the following statements is correct regarding the business income under the business owners BOP?

the business income is payable for 12 consecutive months following the occurrence

All of the following are true about the cancellation of a commercial insurance policy except?

the insurer is required to provide proof that the insured received the cancellation notice prior to cancelling the policy

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

the insurer's chartered location or domicile

Rates for earthquakes covg in property are generally determined by?

the type of construction

Insurance rates are regulated to the extent of all of the following except

they are in a relation to the cost of living

in an insurer wants an insured to appear at a trail to defend charges against himself, the insurer must pay?

up to $200 per day for lost earnings

If the actual values exceed the limit of insurance, the BOP contains a seasonal increase provision that automatically increases the limit of insurance for a business personal property by

25%

A personal umbrella policy may act as excess over any of the following insurance coverage except

Auto collision

Which of the following exposures is not covered under the garage liability coverage from?

Contractual Liability

which of the following would be considered a peril?

Fire

Which of the following is covered under a dwelling policy?

Fire caused by an earthquake

which homeowners form provides open peril coverage from dwelling (covg A) and (covg C)

Form 5

All of these types of property may be covered on a farm coverage except

Growing crops

an insured is injured while driving his own. Which coverage will pay for the loss?

Part B- medical payment

What is a bailee responsible for?

Property of others in his custody

Which of the following types of property is NOT moveable?

Real property

each of the following may be insurer under an Ho-3 homeowners policy EXCEPT

THE OWNER- OCCUPANT OF A CONDOMINIUM UNIT

Which of the following exclusions applies both personal injury and advertising injury in the business owners policy?

Willfull violation of a penal statue or ordinance committed by the insured

compulsory automobile financial responsibility laws may be satisfied in all of the following ways except

a certificate of passing a safe drivers education course

Loss Valuation is best described as the process of

determining an appropriate value for the repair or replacement of property following a specific loss

if a fire erupts in the kitchen and spreads to the upstairs bedroom, resulting in the destruction of furniture, What type of loss?

direct

Which is covered by auto Other than collision (comp) Covg?

electric equip required for the normal operation of the car

Agents may be found guilty of defamation if they make false statements that are intended to

maliciously criticize another insurance company

what was the purpose of the motor carrier act of 1980?

to establish financial responsibility requirements of interstate motor carriers

What is the purpose of a separate notice on the collision of private passenger autos?

to inform the insured that waivers or additional covg is not required on a rented auto

What amount of covg is provided an HO policies for watercraft?

up to $1500