Janet

which of the following would be required to provide workers compensation benefits? a) volunteers b) farm employee c) 1 part -time employee d0 domestic employee

1 part time employee

surety bonds are a) 2 party contracts b) 3 party contracts c) double party contracts d) first party contracts

3 party contracts

Inland Marine Policies normally provide coverage on what basis? a) ACV b) guaranteed replacement cost c) agreed amount d) blanket

ACV

Which of the followeing is not a component of the Commercial Package Policy? a) Common Policy Declarations b) Common Policy Conditions c) General Conditions d) Coverage Parts

General Conditions

an insured is concerned about the vicarious liability that could be created by an employee driving his/her own auto on company business. What coverage symbol on the Business Auto Policy would you recommend to provide liability insurance? a) Symbol 8 b) Symbol 9 c) Symbol 7 d) Symbol 2

Symbol 9

which of the following would be an eligible business for a Business Owners Policy? a) a fast lube auto sho b) a six unit apartment building c) a huge shopping mall d) an amusement park

a six unit apartment building

Under the Business Auto Policy, the definition ofhired auto would not include? a) an auto leased by the insured b) a can owned by a company employee c) a truck rental d) a borrowed pick-up truck

a van owned by a company employee

the coverage on an Equipment Breakdown Policy is triggered by an a) occurrence b) accident c) event d) explosion

accident

All of the following are time element coverages EXCEPT... A) Extra Expense Coverage Form B) BUsiness Income Coverage Form c) Homwoeners Coverage D- Loss of Use d) Additional Coverages

additional coverages

Under OK Workers Compensation, when do benefits for Loss of Income Benefits begin? a) as soon as the claim is filed b) after 3 days c) after 7 days d) after the waiting period

after 7 days

Under OK Statutes 36 O.S. 3636, an uninsured motor vehicle includes all of the following, EXCEPT... a) a hit-and-run driver b) a driver insured by an involvent insurer company c) an insured vehicle driven by an illegal alien d) a driver w/ no auto liability insurance

an insured vehicle driven by an illegal alien

All of the following are true regarding bid bonds EXCEPT... a) principal pays for thebond b) a refund is given to the contractor if he/she does not get the bid c) it is a type of contract bond d) any contractor can probably buy a bond

any contractor can probably buy a bond

the Owner and Contractors Protection (OCP) Form covers the insured for liability: a) arising out of the operations of independent contractors or subcontractors b) arising out of contractual liability c) arising out of the insured premises d) arising out of products and completed operations

arising out of the operations of independent contractors or subcontractors

All of the following are excluded property from the Business Owners Policy EXCEPT... a) boats b) securities c) money d) attached signs

attached signs

Which of the following would NOT be covered under "comprehensive" coverage? a) auto sinking b) auto burning c) auto overturning d) auto flooding

auto overturning

Inland Marine Insurance could be used to insure all of the following EXCEPT... a) tunnels and bridges b) bulldozer c) cargo d) autos

autos

All of the following would be exclusions on an Equipment Breakdown Coverage Part EXCEPT... a) damage to the object while being tested b) damage to the object by mechanical breakdown c) depletion, deterioratoin, and corrosion d) damage to the object caused by flood

damage to the object by mechanical breakdown

Fidelity Bonds are known as... a) dishonesty bonds b) excess liability bonds c) utmost good faith bonds d) judicial bonds

dishonesty bonds

an employee uses her employers computer to fraudulently wire transer funds from the employers business account to her personal account. Which Crime Coverage Form would provide Coverage? a) Compute fraud b) forgery or alteration c) employee theft d) inside the premises-theft of money & securities

employee theft

Which of the following Crime coverage forms would you recommend for a business owner who wants employee dishonesty coverage on all employees? a) employee theft- schedule basis b) employee theft- blanker basis c) robbery and safe burglary d) forgery and alteration

employee theft- blanket basis

an injured worker would NOT be entitled to Workers Compensation benefits in which of the following? a) if the employee was injured by a co worker b) if the employee knew the dangers c) if the employee was intoxicated d) if the employee was the cause of the accident

if the employee was intoxicated

A financial institution has 12 tellers bonded on a blanket schedule bond. If one teller quits and a new employee is hired, when is the new emplyee covered by the bond? a) after the probationary period b) immediately c) after 15 days d) after the employer notifies the surety

immediately

If an insurance company representative finds an insureds boiler in a dangerous condition, coverage can be suspended... a) immediately b) w/ 10 days notice c) w/ 30 days notice d) upon policy arrival

immediately

when do the benefits for medical benefits become payable? a) 3 days b) immediately c) after temporary total d0 after 12 months

immediately

the physical damage section of the Business Auto Policy excludes... a) earthquake b) flood c) theft d) mechanical breakdown

mechanical breakdown

Under the Crime Coverag Forms, which of the following is authorized to have money outside the premise? a) messenger b) guard c) watchman d) custodian

messenger

What does the Garagekeepers Coverage cover? a) physical damage to vehicles owned by garage b) damage to the garage c) product liability for a car part sold by the garage d) physical damage to car in the custody of the insured

physical damage to car in the custody of the insured

A Contractors Equipment Floater could be used to cover all of the following EXCEPT... a) a backhoe used on the job site b) bulldozer used on road project c) portable cement mixer d) pickup truck used to haul supplies to the job site

pickup truck used to haul supplies to the job site

The BUsiness Owners Policy is all of the following EXCEPT... a) package and policy b) commercial policy c) policy designed for small mercantile risk d) policy designed for small "mom and pop" hometown bar

policy designed for small "mom and pop" hometown bar

Which of the following is not a primary coverage provided under the CGL policy? a) personal and advertising liability b) pollution cleanup property damage c) bodily injury to a neighbor on the business premise d) medical payments to a customer

pollution cleanup property damage

A commercial business would use what type of insurance coverage to protect against a customer slipping and falling? a) products b) personal injury c) premises and operations d) completed operations

premises and operations

the realtionship between insured and insurer in insurance is the same as _____/______ in bonding. a) principal/safety b) obligee/surety c) obligee/principal d) surety/obligee

principal/safety

If a child becomes ill from eating an improperly packaged food, what type of liability exposure does the food manufacturer have? a) premises b) operations c) products d) completed operations

products

a physician causes bodily injury to a patient while performing a medical procedure. Which would cover the physicians negligence? a) personal injury liability b) excess liability c) professional liability d) premises and operations liability

professional liability

Under the building and personal property coverage form, which of the following is a coverage extension? a) property off premises b) business personal property c) land d) fixtures

property off premises

medical payments on the Commercial Liability Coverage Part are a) provided up to one year from the date of the injury b) provided up to three years from the date of the injury c) provided for an unlimited time since no negligence is required d) is provided if negligence is proven

provided up to one year from the date of the injury

The Business Owners Policy... a) provides property coverage only b) provides both property and liability coverage for specific types of businesses c) is a package policy w/ great flexibility of coverages d) is a package policy which can be used for almost any commercial exposure

provides both property and liability coverage for specific types of businesses

Regarding professional liability policies, all of the following are true EXCEPT... a) written on a claims-made basis b) include a consent to settle clause c) require underlying limits of insurance d) medical profession is referred to as malpractice

require underlying limits of insurance

On the BUilding and Personal Property Coverage Form, coverage applies to all of the following EXCEPT... a) real property b) business personal property c) residential dwellings d) personal property

residential dwellings

The Basic Cause of Loss Form provides coverage for which of the following perils? a) earthquake b) flood c) sprinkler leakage d) theft

sprinkler leakage

Which of the following could be insured by a Business Auto Policy? a) motorcycle b) mobile equipment c) taxi d) domestic goods transported by the delivery truck

taxi

an oil field worker is off work 60 days before returning to work. what type of disability? a) temporary total b) temporary partial c) permanent partial d) permanent total

temporary total

which of the following is false about medical payments? a) it pays regardless of fault b) the amount of medical payment is applicable per occurence c) the amount is applicable per person, per accident d) medical payments can be claimed up to one year from the date of the accident

the amount of medical payment is applicable per occurence

rehabilitation benefits under Workers Compensation include... a) medical bill of the rehabilitation b) loss of income until retraining is complete c) the cost of occupational and medical rehabilitation d) supplemental payments

the cost of occupational and medical rehabilitation

A customer in our insureds office trips on worn carpet and incurs BI. what date triggers coverage under the Commercial General Liability (CGL) policy? a) the date the accident b) the date the customer gives notice of his/her BI c) the date the claim is made d) the date the customer hires an attorney to sue our insured

the date the accident

The BUilding and personal Property Coverage Form can be cancelled in writing w/ the consent of a) any insured b) any named insured c) the first name insured d) the first or second name insured

the first name insured

Which of the following coverage parts is available on a Commercial Package Policy? a) aircraft b) farm c) workers compensation d) umbrellas

farm

which of the following bonds are similar to the CPP Crime Coverage? a) judicial bond b) bail bond c) fidelity bond d) bid bond

fidelity bond

when the court designates an individual to handle the assets of aminor, which of the following bonds would be appropriate? a) court bond b) performance bond c) fiduciary bond d) position schedule fidelity bond

fiduciary bond...

All of the following are common exclusions on the Commercial Causes of Loss Forms, EXCEPT... a) ordinance b) power failure off premises c) earth movement d) fire

fire

The Business Owners Policy would cover which of the following? a) guard dog b) fire extinguisher c) petty cash d) detached outdoor sign

fire extinguisher

All of the following could be insured on an Inland Marine Policy EXCEPT... a) bulldozer b) fishing boat c) bridge d) domestic goods in transit

fishing boat

A parking lot owner wants to have coverage in the event a vehicle in his/her care, custody, and control is damaged. Which of the following types would provide the proper coverage? a) business auto b) garage liability c) garagekeepers d) commercial general liability

garagekeepers

a commercial building insured for $100000 under a Building and Personal Property Coverage form has been vacant for over three months when it is totaled by fire. What amount of coverage would apply? a) $100000 b) $85000 c) $50000 d) none after 60 days of vacancy

$85000

all of the following are liability exposures under the Commercial General Liability Policy EXCEPT... a) BI b) premises c) operations d) product liability

BI

an employer may purchase workers compensation insurance through all of the following EXCEPT... a) mutual insurance company b) stock insurance company c) Blue Cross Blue Shield d) CompSource

Blue Cross Blue Shield

Which of the following businesses would be eligible for a Business Owners Policy? a) First National Bank of Small-town USA b) Dewey, Cheatem, and How Attorney-at-Law c) Jim's Good Time Bar and Grill d) Twenty One Flags Amusement Park

Dewey, Cheatem, and How Attorney-At-Law

John is named as legal guardian for his nephew PETE. The court judge is requiring a fiduciary bond. Who will be the obligee on the bond written by Indemnity Surety? a) Pete b) John c) Indemnity Surety d) court judge

Pete

the named insured on a Commercial General Liability Policy is Petes Paint Store. Medical payments would provide coverage for which of the following? a) a gallon of paint falls off the shelf and hits a customers foot b) a painter over-sprays paint, damaging several cars in a parking lot c) an employee suffers from fume inhalation while painting d) a subcontractor falls off a ladder at a customers house

a gallon of paint falls off the shelf and hits a customers foot

If a Commercial Package Policy is written w/ only one Coverage Part, it is referred to as: a) a package policy b) a monoline policy c) a monotone policy d) an interline policy

a monoline policy

Workers Compensation benefits pay for job-related a) accidents only b) diseases only c) both accidents and disease d) neither accidents nor disease

both accidents and disease

Which of the following loss forms would provide coverage for weight of ice, snow, and sleet? a) basic, broad, special, and earthquake b) broad, special, and earthquake c) broad and special d) special

broad and special

Which of the following is not included in the Nationwide Marine definition? a) imports b) building addition c) instruments of transportation d) personal property floater risks

building addition

Forcible entry into locked premises, w/ visible signs of forced entry, in order to steal is called.... a) theft b) robbery c) mysterious disappearance d) burglary

burglary

Surety bonds can be cancelled by the surety w/ the following notice? a) 10 days b) 20 days c) 30 days d) cannot be cancelled once issued

cannot be cancelled once issued

the insured overturns his truck while driving too fast on the interstate. Which of the business auto coverages provide coverage for damage to the truck? a) comprehensive b) collision c) liability property damage d) no coverage for intentional acts

collision

a patient trips and falls in the dr's office incurring severe bodily injury. Which policy would provide coverage for the bodily injury? a) workers compensation b) professional liability c) commercial general liability d) personal liability

commercial general liability

Under the Commercial General Liability Policy what type of coverage would pay for bodily injury from a garage door improperly installed at the home of the customer? a) products liability b) premises liability c) completed operations liability d) operations liability

completed operations liability

All of the following information must appear on the Declarations Page, EXCEPT.... a) applicable premium for each Coverage Pary b) description of the business insured c) conditions d) countersignature of the producer (AGENT)

conditions

All of the following are covered as business personal property EXCEPT... a) executive office furniture on the insureds premises b) inventory on the insureds premises c) concrete outdoor furniture on the insureds premises d) raw materials stacked on the insureds premises

conrete outdoor furniture on the insureds premises

a performance bond is what type of bond? a) contract bonds b) judicial bonds c) fiduciary bonds d) fidelity bonds

contract bonds

All of the following coverage could be covered on an Equipment Breakdown Coverage form EXCEPT... a) heating & air conditioning system in an office building b) refrigeration system in a grocery store c) cook stove in a restaurant d) high pressure boiler

cook stove in a restaurant

who would not be covered by Workers Compensation benefits? a) independent contractor b) company president out of state on business c) employee injured by negligence of a fellow employee d) employee injured by own negligence

independent contractor

which situation would NOT be covered under the Inside the Premises- Theft of Money & Securities Crime Form? a) cash taken from the owner in a robbery of the premise b) damage to the fron door cause by burglars c) inventory stolen from the supply room d) securities that mysteriously disappeared

inventory stolen from the supply room

Bodily injury to an insureds employee is excluded in a Commercial General Liability Policy because... a) it is considered assumed risk b) it is considered workers compensation c) the employee is considered an insured d) coverage is provided under personal liability

it is considered workers compensation

All of the following could be anamed insured under a Business Auto Policy EXCEPT?... a) corporation b) association c) sole proprietor d) lien holder

lien holder

Under the building coverage of the building and personal property coverage, which of the following is covered? a) lighting fixtures b) inventory c) executive office furniture d) office supplies

lighting fixtures

A permit surety bond would be required for what type of business? a) insurance agency b) medical doctor c) veterinarian d) liquor store

liquor store

the primary purpose of Business Income coverage is to indemnify the insured for: a) loss of income resulting from business interruption b) loss of income resulting from destroyed accounts receivable by records c) loss of income resulting from employee theft d) loss of income resulting from employees work-related injury

loss of income resulting from business interruption

Which of the following would not be covered under the Cause of Loss- Earthquake? a) lava flow damage b) volcanic eruption c) mud slide d) shockwaves from earthquake

mud slide

all of the following are Surety Bonds, EXCEPT... a) bid bond b) permit bond c) name scheduled bond d) performance bond

name scheduled bond

Under the Loss of Income Benefits what determines how long benefits will be paid? a) nature of the injury b) nature of the employees job position c) amount of the benefits purchased d) after the waiting period

nature of the injury

Employee's autos used in business of the insured are referred to as a) hired autos b) borrowed autos c) drive-other-car autos d) non-owned autos

non-owned autos

On an Equipment Breakdown Policy, the insured machinery is called the... a) device b) object c) insured equipment d) instrument

object

What party is protected by a Surety Bond? a) principal b) obligee c) insured d) surety

obligee

who would generally pay for a Fidelity Bond? a) bond company b) obligee c) principal d) surety

obligee

Workers compensation provides all of the following benefits EXCEPT a) income benfits b) funeral benfits c) pain and suffering d) medical benefits

pain and suffering

in a commercial inland marine policy form, if an insured loses one part of a set, the insurance company may choose to adjust the loss by all of the following methods, EXCEPT... a) replacing the set b) paying the difference between the value of the set before and after the damage c) paying for the value of the lost part d) paying more than the value of the loss

paying more than the value of the loss

the premium for Workers Compensation is based on... a) # of employees b) # of permanent employees c) payroll d) income tax level

payroll

the amount of the bond is known as... a) limit of liability b) amount of coverage c) penalty amount d) focus amount

penalty amount

which of the following types of disabilities would pay a lump sum payment, in addition to a monthly loss of income? a) permanent total b) temporary partial c) permanent partial d) temporary total

permanent partial

the most severe form of disability would be a) permanent total b) temporary total c) permanent partial d) temporary partial

permanent total

what type of bond would be required for a convenience store selling cigarettes? a) fidelity bond b) permit bond c) payment bond d) bail bond

permit bond

a person snatches a womans purse and runs. Under the crime coverage definitions, this act would be called... a) robbery b) safe burglary c) theft d) burglary

theft

What is the link between inland marine and ocean marine insurance? a) water b) replacement cost coverage c) transportation d) warranties

transportation

What is the name of the coverage that provides excess protection when liability has been exhausted on the primary liability policy? a) difference in conditions b) excess property coverage c) umbrella coverage d) time element coverage

umbrella coverage

What is the amount of defense cost provided by the Commercial General Liability Coverage Part? a) 50% of the amount of the limits of liability b) 25% of the amount of the limits of liability c) included in the policy limits d) unlimited

unlimited

all of the following would be considered employees EXCEPT a) part time high school help b) state of OK government employees c) volunteers d) officers

volunteers

All are available coverage parts on a Commercial Package Policy EXCEPT... a) workers compensation b) commercial property c) commercial liability d) inland marine property

workers compensation

advertising injury and personal injury do not cover a) wrong description of prices b) slander and libel c) copyright infringement d) violation of privacy

wrong description of prices