20-44 simulation exam complete

The basic limits for Section II of the Homeowners policy are: A)$100,000 Liability and $1,000 Medical Payments B)$300,000 Liability and $3,000 Medical Payments C)$500,000 Liability and $5,000 Medical Payments D)$1,000,000 Liability and $10,000 Medical Payments

A)$100,000 Liability and $1,000 Medical Payments

Your Homeowners insured has suffered a fire loss to their residence. The Coverage A Dwelling amount on the policy is $300,000.How much coverage would the insured have for debris removal? A)$15,000 B)$30,000 C)0 D)$45,000

A)$15,000

our insured has had a one vehicle accident with the roadbed. The policy has Other Than Collision coverage with a $250 deductible and no Collision coverage.The insured vehicle has $1,500 in damages how much will the insured collectafter applying the correct coverage and deductible? A)0 B)$250 C)$1,250 D)$1,500

A)0

Other Coverages in the DP1 policy provides Other Structures coverage up to ____ of Coverage A. A)10% B)20% C)30% D)40%

A)10%

In the DP-1 policy ___% of the Coverage A limit may be applied to Other Structures: A)10% B)25% C)50% D)75%

A)10% Feedback:In the DP-1 policy 10% of the Coverage A limit may be applied to Other Structures.

According to F.S. 626.731(1)(a) an applicant must be ___ years old to be eligible for a General Lines insurance license. A)18 B)21 C)25 D)there is no age requirement listed in the Florida Statutes

A)18

A General Lines Agent has how many days to notify the Department of Financial Services of name OR address changes? A)30 B)60 C)90 D)120

A)30 Feedback:626.551 Notice of change of address, name.- -Every licensee shall notify the department in writing within 30 daysafter a change of name, residence address, principal business street address, or mailing address.

Under the PAP definitions "your covered auto" includes all BUT which of the following? A)Any vehicle you own B)Vehicles shown on the Declarations Page C)Newly Acquired Autos D)Any trailer you own

A)Any vehicle you own Feedback:All owned vehicles must be listed on the Declarations Page unless newly acquired.

Chris was permanently injured in an auto accident by the negligence of Melanie. Chris's injuries are valued at $1,000,000. Chris has PIP and has recovered hisfull $10,000 limit, and he has $100,000 per person and $300,000 per occurrenceUM coverage. Melanie has a liability insurance policy with limits of 50,000/100,000/$50,000.How much is Chris's UM recovery? A)$10,000 B)$40,000 C)$100,000 D)$300,000

C)$100,000

Your insured has a Dwelling Policy with the Broad Form Theft endorsement and want to know how much coverage he will have for silverware, gold ware, and pewter ware. How much is covered? A)$500 B)$1,000 C)$2,500 D)$5,000

C)$2,500

The PIP death benefit is: A)PIP does not have a death benefit B)$500 C)$5,000 D)$50,000

C)$5,000

Keith was permanently injured in an auto accident by the negligence of Shelby. Keith's injuries are valued at $150,000. Keith has PIP with a $500 deductible and has recovered $10,000 from PIP. He has UM coverage of $50,000/$100,000.Shelby has a liability insurance policy with limits of $10,000/$20,000/$10,000.How much is Keith's UM recovery? A)$10,000 B)$19,500 C)$50,000 D)None of the above

C)$50,000

Dan was permanently injured in an auto accident by the negligence of Cynthia. Dan's injuries are valued at $250,000. Dan has PIP with a $500 deductible and has recovered $10,000 from PIP. He has UM coverage of $50,000/$100,000. Cynthia has a liability insurance policy with limits of 10,000/20,000/$10,000. How much is Dan's UMBI recovery? A)$9,500 B)$10,000 C)$50,000 D)$250,000

C)$50,000 Feedback:Dan will collect $50,000 the per person limit of his UMBI coverage.

Florida law requires each Homeowners insurer to offer higher than the basic 10% Ordinance and Law coverage to their insureds in the following amounts___% and ___%. A)11% and 12% B)20% and 50% C)25% and 50% D)33 1/3% and 66 2/3%

C)25% and 50% Feedback:Florida law requires each Homeowners insurer to offer higher than basic (10%) Ordinance and Law coverage in 25% and 50% of the dwelling limit for the coverage.

A claimant has filed a claim against your Homeowners insured for $800 of damage to their property. Your insured has contacted you and advised you that they were legally responsible for the damage. Is there coverage for this claim? A)No coverage for property of others in the insureds care, custody, or control B)Additional Coverages under Section II Liability of the Homeowners policy will cover up to $500 for damage to the property of others C)Additional Coverages under Section II Liability of the Homeowners policy will cover up to $1,000 for damage to the property of others D)Additional Coverages under Section II Liability of the Homeowners policy will coverup to $5,000 for damage to the property of others

C)Additional Coverages under Section II Liability of the Homeowners policy will cover up to $1,000 for damage to the property of others

An _______ insurer is an insurer other than a domestic or foreign insurer. A)Domestic B)Foreign C)Alien D)None of the above

C)Alien Feedback:An alien insurer is an insurer other than a domestic or foreign insurer.

By listing the Loss Payee on the PAP's Declarations page: A)The Loss Payee is jointly paid with the insured for losses incurred under Coverage D B)The Loss Payee's collateral is protected C)Both A & B D)Neither A or B

C)Both A & B

Other Than Collision covered perils include: A)Theft B)Hail C)Both A & B D)Neither A or B

C)Both A & B

Part E of the PAP requires an insured to: A)Submit to examination under oath if requested B)File a proof of loss if requested C)Both A & B D)Neither A or B

C)Both A & B

Coverage E of the Homeowners policy protects the insured from legal liability for: A)Bodily Injury to others B)Property Damage to others C)Both A & B D)Neither A or B

C)Both A & B Feedback:Coverage E of the Homeowners policy protects the insured from legal liability for property damage and bodily injury to others.

Unfair claim settlement practices include... A)Failing to adopt and implement standards for the proper investigation of claims B)Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue C)Both A and B D)Neither A or B

C)Both A and B

Mechanical Breakdown covers the failure of: A)Original parts B)Replacement parts C)Both A and B D)Neither A or B

C)Both A and B Feedback:Mechanical Breakdown covers the failure of original and replacement parts.

Your insured in involved in a multi-vehicle accident. Which coverage is the physical damage to the insured's vehicle covered by? A)Other Than Collision B)Specified Perils C)Collision D)Multi-Vehicle Incident

C)Collision

Flood insurance is available only for _______ buildings, or _______contents within _______ buildings, and only if the building or contents is located within an ______ community. A)Permanent B)Regular C)Eligible D)All of the above

C)Eligible Feedback:Flood insurance is available only for "eligible" buildings, or "eligible" contents within "eligible" buildings, and only if the building or contents is located within an "eligible" community.

This Flood Form is written for all buildings and/or contents not eligible to be insured under the Dwelling Form: A)Homeowners Flood Form B)Preferred Risk Policy C)General Property Form D)Residential Condominium building Association Policy Form

C)General Property Form Feedback:The General Property Form is written for all buildings and/or contents not eligible to be insured under the Dwelling Form.

Which if any of the following are required to have a Certificate of Authority? A)Agency B)Agent C)Insurance Company D)All of the above

C)Insurance Company

Additional Coverages under Section II Liability in the Homeowners policy include: (a) claims expense, (b) first aid expenses, (c) damage to property of others, and _____________. A)Employment practices liability B)Professional liability C)Loss assessment D)None of the above

C)Loss assessment

Your insured, Otis, has been found guilty of driving under the influence of alcohol and has pierced Florida's Financial Responsibility law. What can Otis do to satisfy Florida's Financial Responsibility law? A)Post a bond in the amount of $150,000 B)Post a bond in the amount of $250,000 C)Post a bond in the amount of $350,000 D)None of the above

C)Post a bond in the amount of $350,000

Misrepresentations, omissions, concealment of facts, and incorrect statements shall not prevent a recovery under the policy or contract unless: A)They are fraudulent B)They are material C)The insurer in good faith would either not have issued the policy D)All of the above

D)All of the above

Which if any of the following are considered an Insured Location for Section II - Liability coverage in the Homeowners policy? A)Newly acquired residences during the policy period B)Temporary residences used for non-business use C)Vacant land owned by the insured D)All of the above

D)All of the above

Other Than Collision covered perils include: A)Water Damage B)Glass Breakage C)Wind Damage D)All of the above

D)All of the above Feedback:Other Than Collision covers all direct and accidental loss not covered by Collision coverage unless specifically excluded.

True or False: Florida law mandates first dollar coverage in the adjustment of all glass claims.

False

True or False: The Personal Articles Floater is used to insure only one class of scheduled property.

False

True or False? Fraud only applies to the filing of insurance claims.

False

True or False: The named insured is covered for PIP benefits while occupying any defined motor vehicle?

True

True or False: Uninsured Motorists coverage does not apply towards punitive or exemplary damages.

True

True or False? An insured's Collision coverage covers loss from the collision, upset, or overturn of an insured vehicle.

True

True or False? Limited Form Theft may be written on an owner occupied or tenant occupied exposure

True

True or False? Medical Payments coverage is issued on an excess basis to coordinate with PIP?

True

True or False? An insured's Collision coverage covers loss from the collision, upset, or overturn of an insured vehicle.

True Feedback:Collision and upset or overturn is covered by the insured's Collision coverage.

True or False? Controlled Business is not allowed if more than 50% of income is from controlled business.

True Feedback:Controlled business is not allowed if more than 50% of income is from controlled business.

True or False? PIP benefits include coverage for those who rely on spiritual means through prayer alone for healing, in accordance with religious beliefs.

True Feedback:It is true that PIP benefits include coverage for those who rely on spiritual means through prayer alone for healing, in accordance with religious beliefs.

True or False? The PAP's Liability coverage requires the insurer to provide a defense for the insured up to the policy limits.

True Feedback:It is true, the PAP's Liability coverage does require the insurer to provide a defense for the insured up to the policy limits.

True or False? Part E of the PAP requires the insured to cooperate and to protect against any further loss.

True Feedback:Part E of the PAP requires the insured to cooperate and to protect against any further loss.

True or False: The HO-6 can be taken out by a condo owner for either their own occupancy or tenant occupancy of the condominium.

True Feedback:The HO-6 can be used for either owner occupancy or tenant occupancy.

True or False? The PAP's Declarations identifies the named insured and any loss payees.

True Feedback:The PAP's Declarations identifies the named insured and any loss payees.

True or False? Transportation Expense coverage applies only if Other Than Collision and Collision coverage is provided by an insured's policy.

True Feedback:Transportation Expense coverage applies only if Other Than Collision and Collision coverage is provided by an insured's policy.

True or False. Insurance may be placed into effect, or "bound," prior to issuance of a policy contract.

True Feedback:True, insurance may be placed into effect, or "bound," prior to issuance of a policy contract using a binder.

True or False? Uninsured Motorists (UM) coverage pays compensatory damages for bodily injuries for amounts which otherwise should have been recovered from the liability insurance of another.

True Feedback:Uninsured Motorists (UM) coverage pays compensatory damages for bodily injuries for amounts which otherwise should have been recovered from the liability insurance of another.

Your Homeowners insured has rented an off-road recreation vehicle at Cape May to drive up and down the beach. Unfortunately she ran over two sunbathers.How will the Homeowners policy respond? A)Bodily Injury for the injured parties will be covered up to the policy limits B)The Homeowners policy will not pay anything as owned RVs are not covered forLiability off the residence premises C)The policy will pay for the damages as long at the length of the recreational vehicledoes not exceed 200 horsepower D)The policy will pay for the damages as long at the length of the recreational vehicledoes not exceed 350 horsepower

A)Bodily Injury for the injured parties will be covered up to the policy limits Feedback:The Homeowners policy will pay up to the policy limits for the legal liability of the insured operating a non-owned RV anywhere in the world.

Stacked UMBI coverage means: A)Coverage limits for two or more vehicles are added together B)UM deductibles are waived C)Both A & B D)None of the above

A)Coverage limits for two or more vehicles are added together

This Homeowners policy endorsement specifies a percentage increase in Section I coverage based upon increases in values. A)Inflation Guard B)Building Ordinance or Law C)Personal Property Replacement Cost D)Extended Replacement Cost

A)Inflation Guard Feedback:Inflation Guard endorsement specifies a percentage increase in Section I coverage based upon increases in values based upon increased material cost and labor rates.

Unfair discrimination includes... A)Knowingly making or permitting any unfair discrimination between individuals of the same actuarially supportable class B)Knowingly making or permitting any actuarially supportable distinctions between individuals C)Knowingly charging more for any actuarially supportable distinctions between individuals D)Knowingly precluding coverage for any actuarially supportable distinctions between individuals.

A)Knowingly making or permitting any unfair discrimination between individuals of the same actuarially supportable class Feedback:Read F.S. 626.9521 for a complete review.

Which of the following is/are true concerning Section II - Liability of the Homeowners Insurance policy? A)Liability Coverage is predicated upon the negligence of an insured B)Medical Payments Coverage is predicated upon the negligence of an insured C)Both A & B D)Neither A or B

A)Liability Coverage is predicated upon the negligence of an insured

An insurance company owned by its policyholders is a.... A)Mutual Insurer B)Reciprocal Exchange C)Stock Insurance Company D)Lloyds of London

A)Mutual Insurer Feedback:A mutual insurer is owned and controlled by its policyholders.

Which of the following does NOT apply to the Mortgagee Clause: A)Right to cancel the policy B)Advance notice of any cancellation C)Coverage even if the insured actions prevent recovery by the insured D)Right to pay a policy premium

A)Right to cancel the policy

Penny Pennypincher is a coin collector who wishes to purchase a Personal Inland Marine policy. She does not want to schedule her collection.What is the maximum amount she can insure on an unscheduled basis? A)$500 B)$1,000 C)$10,000 D)$100,000

B)$1,000 Feedback:$1,000 limit for unscheduled coin collection and $250 for any one stamp, coin or individual article.

Your insured has suffered a compensable Collision loss and is in need of a rental car for use while the insured vehicle is being repaired. You advise the insured thattheir Transportation Expense coverage begins ___ hours after the loss. A)0 B)24 C)48 D)72

B)24

Which of the following is NOT a trigger of the financial responsibility law? A)Accident involving bodily injury B)Accumulation of driving points C)Property damage rendering vehicle inoperable D)Certain traffic offenses

B)Accumulation of driving points

You have bound a Citizen's Wind-only policy for your insured. She has suffered flooding at her home. How will her Citizen's Wind only policy respond? A)Advise the insured that her Citizen's Wind-only policy covers losses from Windstormand Flooding so she will be covered for the flood loss B)Advise the insured that her Citizen's Wind-only policy covers losses from Windstormand Hail so she will not be covered for the flood loss C)Advise the insured that her Citizen's Wind-only policy covers losses from Windstormand Sinkhole so she will not be covered for the flood loss D)Advise the insured that her Citizen's Wind-only policy covers losses from Windstormand Lightning so she will not be covered for the flood loss

B)Advise the insured that her Citizen's Wind-only policy covers losses from Windstormand Hail so she will not be covered for the flood loss Feedback:The Citizen's Wind only policy covers the perils of windstorm and hail.

All of the following are duties of the Office of Insurance Regulation EXCEPT? A)Company solvency B)Appoint physical location of insurers C)Policy forms and rates D)Market conduct performance

B)Appoint physical location of insurers Feedback:The Office of Insurance Regulation is responsible for: (a) company solvency; (b) policy forms and rates; and (c) market conduct performance

This Homeowners policy endorsement covers losses incurred by the enforcement of a Building Ordinance or Law to otherwise undamaged property A)Inflation Guard B)Building Ordinance or Law C)Personal Property Replacement Cost D)Extended Replacement Cost

B)Building Ordinance or Law

The FAJUA is a residual market for individuals who: A)Can obtain automobile insurance in the private - competitive market but seek a lower premium B)Cannot obtain automobile insurance in the private - competitive market C)Can obtain automobile insurance in the private - competitive market but seek broader coverage D)None of the above

B)Cannot obtain automobile insurance in the private - competitive market

This Homeowners policy form insures the Dwelling and Other Structure on with a "special" form cause of loss. A)HO-2 B)HO-3 C)HO-4 D)HO-6

B)HO-3

Additional Personal Injury Protection... A)Extends PIP medical benefits to 100% and work loss benefits to 80% -applicable to the named insured and family members only B)Increases the basic PIP benefit of $10,000 per person for additional amounts C)Both A and B D)Neither A or B

B)Increases the basic PIP benefit of $10,000 per person for additional amounts

Lightning strikes Joe's building and a fire ensues, with resulting fire, smoke, and water (to put out the fire) damage to the property.Which peril would be considered the proximate cause of the loss? A)Fire B)Lightning C)Water D)All of the above

B)Lightning Feedback:The doctrine of proximate cause states that when there is an unbroken connection between an occurrence and damage that grows out of the occurrence, then the resultant damage is all a part of the originating occurrence.

An example of an indirect loss is: A)Physical damage after a collision B)Loss of use C)Both A & B D)Neither A or B

B)Loss of use

You insured's guest has tripped over her own shoe laces at the insured's residence. The insured has agreed in writing to pay all medical bills, lost wages, and pain andsuffering to the guest. Has the insured met the conditions of his policy? A)Yes, he has merely started the claim for the insurer B)No, he has prejudiced the insurer's rights C)Yes, first aid and ancillary damages are always covered D)No, because he is not a licensed claims adjuster

B)No, he has prejudiced the insurer's rights

Toe Nail roof connectors A)Are eligible for mitigation credits B)Not eligible for mitigation credits

B)Not eligible for mitigation credits Feedback:Toe Nail roof connectors are not eligible for mitigation credits

An insured has come to the office to file a claim. She expresses concern that the legal fees defending her will probably consume all of her policy limits. You tell her... A)She is right and her limit will probably be consumed by defense cost B)Not to worry because the PAP's liability coverage includes a defense for herup to her policy limits C)If her defense cost consumer her auto policy limits she can file a liability claimunder her Homeowners policy also D)Some of the above

B)Not to worry because the PAP's liability coverage includes a defense for her up to her policy limits Feedback:The insured should not worry as the PAP's Liability coverage does require the insurer to provide a defense for the insured up to the policy limits.

Liability insurance responds on behalf of an Insured's liability to an ___________. A)Insured B)Other Party C)Insurer D)All of the above

B)Other Party

Your insured has struck a mailbox in a one vehicle accident which resulted in a broken windshield. What type of physical damage claim will he be filing? A)Special B)Other Than Collision C)Collision D)Mailbox

B)Other Than Collision

An "_______" insurer is one which does not have a certificate of authority issued by the department to transact insurance in this state. A)Authorized B)Unauthorized C)Stock D)Mutual

B)Unauthorized Feedback:An "unauthorized" insurer is one which does not have a certificate of authority issued by the department to transact insurance in this state.

A non-licensed member of your office has solicited a potential insured for an insurance policy is this considered "transacting insurance"? A)No, because the staff member is unlicensed B)Yes, because any solicitation of an insurance policy is considered "transacting insurance" C)No, it is only considered "transacting insurance" if the person were to purchase the policy D)Both A and C

B)Yes, because any solicitation of an insurance policy is considered "transacting insurance"

Your potential customer and a Citizens Property Insurance Corporation policy candidate has advised you that the fifty-six (56) year old house she wants to insure was inherited from a distant family member and to the best of her knowledge has not been upgraded in any way. What is your response? A)No problem as long as the properties is not in disrepair B)No problem as long as the properties is not over 75 years of age C)Properties over 50 years of age without upgrades are ineligible for a policy with Citizens D)None of the above

C)Properties over 50 years of age without upgrades are ineligible for a policy with Citizens

Which of the following is NOT typically a "credit" or "discount" in the PAP? A)Good Student B)Multi-car C)Radar Detection Unit D)Anti-theft Device

C)Radar Detection Unit

Automobile insurance rates are lowest when the territory class is: A)Urban B)Suburban C)Rural/Farm D)International

C)Rural/Farm Feedback:Automobile insurance rates are lowest when the territory class is rural/farm.

Which of the following is NOT a "type" of a General Lines License? A)Personal Lines Agent B)Limited Customer Service Representative C)Title Agent D)Customer Representative

C)Title Agent Feedback:Title Agent is not one of the "types" of General Lines Licenses. Review the Unit on Preparing for the state Licensing Exam for more information if you got this one incorrect.

You, a General Agent, have hired a Customer Representative with an understanding that the Customer Representative's compensation will be predominately commission based. Is commission based compensation permitted for Customer Representatives? A)any agreement between a Customer Representative and the agency-employer is permitted B)compensation based upon premium or other production is permissible per F.S. 626.7354 C)no, production based compensation (i.e. commission based) is not permitted per 626.7354 D)none of these apply

C)no, production based compensation (i.e. commission based) is not permitted per 626.7354

Defamation includes... A)Libel and Slander B)Dissemination information which is false C)Dissemination of information which is calculated to injure a third party D)All of the above

D)All of the above

An insurer is required to provide an insured with a ___ day notice of cancellation for #2286underwriting reasons. A)10 B)20 C)30 D)45

D)45

Sliding is the act or practice of... A)Representing to the applicant that a specific ancillary coverage or product is requiredby law in conjunction with the purchase of insurance when such coverage or productis not required B)Representing to the applicant that a specific ancillary coverage or product is includedin the policy applied for without an additional charge when such charge is required C)Charging an applicant for a specific ancillary cover-age or product, in addition to thecost of the insurance coverage applied for, without the informed consent of the applicant D)All of the above

D)All of the above Feedback:Read F.S. 626.9521 for a complete review.

Liability exclusions under the Homeowners policy INCLUDE all but which of the following: A)Damage to Property Owned by an Insured B)Injury to any insured C)Business or professional activities D)All of the above are excluded

D)All of the above are excluded Feedback:Liability exclusions under the Homeowners policy include: (a) business or professional activities; (b) motorized land conveyances; (c) watercraft; (d) aircraft; (e) damages to the property owned by an insured; (f) injury to any insured; (g) property rented to, occupied by, or used in the care of an insured; and (h) responsibilities under a workers compensation law.

Your Homeowners Insured leases her garage out as a private residence. Which Homeowners coverage applies? A)Coverage A - Dwelling B)Coverage B - Other Structures C)Coverage C - Personal Property D)An insured's garage rented to another party as a residence is not covered under the Homeowners policy

D)An insured's garage rented to another party as a residence is not covered under the Homeowners policy

Your insured has been injured in an automobile accident and wants to know what her PIP will cover: A)You tell her 80% of her reasonable medical expenses B)You tell her she will be reimbursed up to 60% of her gross income C)You tell her she will have replacement services up to 75% D)Both A and B

D)Both A and B

Other Than Collision covered perils include: A)War B)Civil Commotion C)Vandalism D)Both B & C

D)Both B & C Feedback:Other Than Collision coverage covers all direct and accidental loss not covered by Collision or excluded (War is excluded).

Property and liability insurance policies are said to be ___________ contracts because the obligation of the insurer to perform may be conditioned upon the insured satisfying certain conditions. A)Personal B)Adhesions C)Written D)Conditional

D)Conditional Feedback:Property and liability insurance policies are said to be conditional contracts because the obligation of the insurer to perform may be conditioned upon the insured satisfying certain conditions.

Unfair methods of competition and/or deceptive acts include which of the following... A)Comparisons between product pricing B)Comparisons between policy features C)Comparisons between policy benefits D)Misrepresentations and false advertising of insurance policies

D)Misrepresentations and false advertising of insurance policies

You have been contacted by Jane Smith who is inquiring into a Homeowners policy for the duplex she just purchased. Jane has taken on three boarders to help make her mortgage payment. Is she eligible for a Homeowners policy? A)Yes, roomers and boarders are permissible under the Homeowners policy B)Yes, but not if she has more than four roomers or boarders C)Yes, but not if she has more than four roomers or boarders D)No, the Homeowners policy permits up to two roomers and boarders E)No, the Homeowners policy does not permit any roomers or boarders

D)No, the Homeowners policy permits up to two roomers and boarders

Which of the following increase the probability and/or severity of loss? A)Physical, Moral, and Operational Hazard B)Fiscal, Moral, and Operational Hazard C)Fiscal, Morale and Operational Hazard D)Physical, Moral, and Morale Hazard

D)Physical, Moral, and Morale Hazard Feedback:Physical, moral, and morale hazards all increase the probability and/or severity of loss.

Shirley Timple purchased a PIP/PD policy from your agency 61 days ago. She now wants to cancel the policy. Under what conditions can she cancel the policy? A)The insured vehicle is totally destroyed B)The insured vehicle is sold C)He has purchased replacement coverage D)Place the insurer on formal written notice of her intention to cancel

D)Place the insurer on formal written notice of her intention to cancel

Your insured has borrowed his brother's golf clubs. While the insured is enjoying a cold beverage after his round of golf at the clubhouse his brother's golf clubsare stolen. How will the Homeowners policy respond to this loss? A)Covered as "other-brother-cover" up to $5,000 B)No coverage for the stolen clubs as they were not owned by the insured C)The clubs are covered but up to the maximum limit of $1,000 for "sporting equipment,musical equipment, and competition equipment" D)The clubs are covered as they were in the care custody and control of the insured

D)The clubs are covered as they were in the care custody and control of the insured

Zoe Kenney's hot water tank developed a leak while she was on vacation. As a result her home suffered some mild water damage to the flooring but substantial damage to several expensive pieces of furniture. Her Homeowners policy has theReplacement Cost Endorsement for Coverage C Personal Property.Zoe replaced her flooring immediately and was paid the full replacement cost.She did not immediately replace the furniture and was compensated at its depreciated replacement value. Seven months later Zoe has found the perfect replacements and she has purchased them and placed the insurer on formal notice of her replacement.How will the insurer respond? A)The insurer will pay Zoe the amount previously deducted for depreciation B)The insurer will pay Zoe nothing as an insured has only 30 days after the notice of loss to submit receipts for replacement as a valuation method to apply C)The insurer will pay Zoe nothing as an insured has only 90 days after the notice of loss to submit receipts for replacement as a valuation method to apply D)The insurer will pay Zoe nothing as an insured has only 180 days after the notice of loss to submit receipts for replacement as a valuation method to apply

D)The insurer will pay Zoe nothing as an insured has only 180 days after the notice of loss to submit receipts for replacement as a valuation method to apply

Who is a licensed insurance representative responsible to? A)Agency B)Insurance Company C)Insured D)each of these are correct

D)each of these are correct

True or False? There are some times a sales agent may need to use coercion to "move" the sales process along; this is referred to as a hard sell. TrueFalse

False Feedback:Good faith and fair dealings with all insureds requires a licensed insurance representative to refrain from using coercion under all circumstances.

True or False? Most insurance related needs are met by private insurance companies offering insurance products in a competitive insurance marketplace commonly referred to as the "residual market".

False Feedback:Most insurance related needs are met by private insurance companies offering insurance products in a competitive insurance marketplace commonly referred to as the "voluntary market".

True or False? The gross vehicle weight eligible under the PAP is 20,000 pounds?

False Feedback:The gross vehicle weight eligible under the PAP is 10,000 pounds.