Insurance Number Cards

If, after a hearing, the Arizona Director of Insurance finds a person has unknowingly engaged in any act or practice defined as an unfair or deceptive act or practice, he will order the person to cease and desist from those acts or practices. The Director may also impose a minimum penalty of:

$1,000

The standard Businessowners policy extension of coverage for "Outdoor Property" provides ________ of coverage for any one tree, shrub, or plant that has been destroyed due to a covered cause of loss.

$1,000

Erica forgot to renew her Arizona insurance license until 2 months past its expiration date. In addition to the renewal fee she should have paid on the expiration date, Paula must pay an additional _______ as a late renewal fee.

$100

How much coverage is provided under the Businessowners policy coverage extensions for newly acquired business personal property?

$100,000

The Section II - Additional Coverages of Homeowners policies, damage to the property of others (whether or not in the insured's custody and regardless of fault) is covered up to

$1000

The Section II - Additional Coverages of Homeowners policies, damage to the property of others (whether or not in the insured's custody and regardless of fault) is covered up to:

$1000

The additional coverage of the Commercial Property cause of loss forms known as the "Limited Coverage for Fungus, Wet Rot, Dry Rot, and Bacteria" provides:

$15,000 coverage for all occurrences within a 12-month period..

The additional coverage on the Building and Personal Property coverage of a Commercial Property policy for electronic data provides _________ for the cost of replacing and restoring electronic data that has been destroyed or corrupted by a covered cause of loss.

$2,500 in the aggregate

Coverage C of the Homeowners forms provides which of the following amounts for business personal property?

$2,500 on the premises and $1,500 off the premises

The required limits of financial responsibility for Personal Auto policies purchased or renewed on or after July 1st, 2020 are:

$25/50/15

How much coverage is available for the theft of firearms under the Broad Theft endorsement to a Dwelling policy?

$2500

Mr. Kessler has an auto policy with bodily injury limits of $15,000/$30,000. He injures two people in one accident. Mr. Brown receives injuries of $19,000. Mr. Jones receives injuries of $15,000. Legal expenses to defend Mr. Kessler total $10,000. How much is Mr. Kessler liable for after his insurance company makes its payment?

$4,000

The Arizona endorsement to the Personal Auto policy allows an auto insurer to impose a lien to recover medical payments paid over:

$5,000

The civil penalty for violation of Arizona fraud regulations is an amount up to:

$5,000

The minimum deductible found in an earthquake endorsement for homeowner's policy is

$500

The Builders' Risk form provides an extension of coverage for building materials within 100 feet of the building being constructed and belonging to others, but under the care, custody, and control of the insured for up to:

$5000

The Motor Carrier Act of 1980 requires those hired to transport nonhazardous property to carry a minimum limit of liability of:

$750,000

Upon receiving notification of a claim, every insurer in Arizona must acknowledge the receipt within:

10 working days

The limits of liability required by the Motor Carrier Act affect all vehicles that have a gross vehicle weight of:

10,000 pounds or more

The NAIC Model Unfair Claim Settlement Practice Act provides for a financial penalty of _________ for each violation of the Act.

1000

License suspension from director of insurance can be effective for up to:

12 months

The NAIC Model Unfair Claim Settlement Practices Act specifies that the insurance company must provide the proper claim forms with a reasonable explanation of how to use them to the claimant within:

15 calendar days of the request

If the Arizona Insurance Department makes a claims inquiry, how many days does the insurer have to respond back to the Department of Insurance?

15 working days

What is the Part D limit of liability for damage to a non-owned trailer under the Personal Auto policy?

1500

Under "pollution cleanup and removal" coverage under the standard ISO BOP form, when must a loss be reported?

180 days

The standardized Dwelling forms allow the insured to bring legal action against the insurer if they have complied with all policy provisions and the action is brought within:

2 years after the date of the loss

Personal property that is covered under the Personal Property Replacement Cost Endorsement of a Homeowners policy is damaged and a claim has been filed. The replacement cost of the property at the time of the loss is $2,500. The full cost to repair the property is $2,000. The Coverage C limit of the Homeowners policy is $8,000. No special limits apply to this property and there is no limit applied to the type of property being claimed. Which of the following is the amount that will be paid under the endorsement?

2,000

A Business Auto policy covers trailers with a load capacity of:

2,000 pounds or less

If insurer is going to increase premium rates for a Commercial Property Policy, they must give them a notice of _____ in advance.

30

All Homeowners forms provide the "Property Removed" additional coverage for up to how many days

30 days

The Commercial Building & Personal Property coverage form includes an Additional Coverage for property removed from the premises because of being endangered by an insured peril. The coverage applies for:

30 days

Willie's Widgets has had a complaint filed against them with the Arizona Workers' Compensation Commission. Willie's must respond to this complaint within _________ of being served with the complaint.

30 days

The BOP has limitations on the square footage in regard to eligible retail and service risks. What is the maximum square footage a building can contain and still be eligible for the policy?

35,000 sq ft

When the "Extended Period of Indemnity" option is selected by the insured on their Business Income form, the additional coverage "Extended Business Income" is extended from 60 days up to a maximum of _____ days.

360 days

When an insured purchases the "Automatic Increase in Insurance" endorsement to their Dwelling policy, they can select which of the following percentages of increase?

4, 6, or 8%

An automobile insurer in Arizona would like to reduce the limits of liability in an issued policy. How many days' notice must the insurer provide the insured of this change?

45 Days

Arizona statutes require an insurer who is cancelling or nonrenewing a personal automobile policy for generally approved reasons to provide the insured advance notice of:

45 days

To be eligible for coverage under a standardized Dwelling policy, the insured must not allow more than _______ boarders to live on the premises.

5

The Arizona Insurance code requires insurers to notify commercial policyholders 45 days in advance of its intent to cancel, non-renew or change the provisions of a commercial policy. However, the mandatory endorsement required to be attached to all Businessowners policies issued in Arizona, changes this advance notice to:

60 Days

If the insurer plans to change the deductible on a Businessowner's policy, they must provide a notice of _____ days in advance

60 days

The "Business Income" additional coverage of the standard Businessowners policy provides coverage for "ordinary payroll coverage" for:

60 days

The Arizona Insurance code requires the Director to make the state licensing exam available to students at least every:

60 days

If Commercial Property coverage is written on the Building and Personal Property coverage form and a loss occurs, the insured must furnish a signed statement of loss within:

60 days after the request of the insurer.

In motor vehicle insurance policies, there must be a provision that the policyholder is entitled to a minimum grace period of

7 days

For restaurants to be eligible for coverage by the standard BOP policy, they cannot exceed _______ in total floor area.

7500 sq ft

Aaron's Arizona farm is covered by a Farmowner's policy obtained through Binders Keepers, Inc. When Aaron fails to pay his premium, Binders Keepers decides to cancel Aaron's policy. According to Arizona statutes, Binders Keepers must send a cancellation notice to Aaron:

At least 10 days prior to the cancellation of the policy..

In Arizona, when an insurer decides to nonrenew a policy, they must send a notice to the insured:

At least 45 days before the end of the policy period

Which of the following fidelity bonds guarantees both the honesty and faithful performance of the principal?

Coverage form O

How much coverage would Alexander have under Coverage B of his DP-1 policy, to cover the grave markers and mausoleums in his family cemetery

Excluded

An insured carries a Personal Property Replacement Cost endorsement attached to his Homeowners policy and he has suffered a loss to covered personal property. He submits a claim for actual cash value (ACV) at the time of the loss and notifies the insurer that he intends to make a claim for replacement cost later. The insurer will pay the replacement cost claim later if which of the following two conditions are met?

If the cost to repair or replace is more than $500 and the insured has already had the property repaired or replaced..

A licensee in Arizona has intentionally violated the insurance code. In addition to or instead of revoking the license, the Director can:

Impose a civil penalty of not more than $2,500 for each violation.

Personal Liability Supplement Coverage M

Minimum $1,000

Personal Liability Supplement Coverage L

Minimum $100,000

Under a standard Equipment Breakdown policy, the loss settlement is:

On a replacement cost coverage, if the repair or replacement, is made within 24 months of the loss.

The Section I Additional Coverage of the standard Businessowners policy provides coverage for "Debris Removal". Which of the following statements best describes the limit for this coverage?

The total limit may be up to 25% of the policy limit for the loss payable with the deductible included, plus up to an additional $25,000 if the policy limits are exhausted..

Under the Businessowners policy, for up to how many years can the insurer request to examine the books and records of an insured after the policy has expired?

Three Years

Flora designs and makes custom dresses out of a small room at the back of the home she owns. She has the home covered by a Dwelling policy with the Permitted Incidental Occupancies endorsement attached. She has boxed up several dresses and stored them in the back room to be shipped out later when fire breaks out and burns them up. How much coverage will Flora's endorsed Dwelling policy provide?

Up to $10,000

The MCS-90 Endorsement to a Truckers or Motor Carrier Coverage form can be cancelled

With 35-days notice if either the insured or the insurer cancels

The "Medical Payments" coverage of the standard Yacht policy covers all medical expenses incurred by an insured, family members, invitees, or guests if a claim is submitted

Within 1 year following a covered accident

An insured carries a Personal Property Replacement Cost endorsement attached to her Homeowners policy and has suffered a loss to her personal property. The insured submits a claim for actual cash value (ACV) at the time of the loss, but she intends to make a claim for replacement cost later. What is the time frame in which the insured must notify the insurer that she intends to make the replacement cost claim later?

Within 180 days of the loss

The Arizona Insurance code requires that every individual who has taken an examination for licensing, be provided with their examination score:

Within 30 days after taking the examination

Which of the following statements is TRUE regarding the deductible of the Earthquake Endorsement to a Homeowners policy?

minimum of $500 deductible