missed questions-11
A licensed insurance producer in Maine may engage in insurance activities throughout the State within the authority granted by any of the following, EXCEPT a) Surplus lines insurers. b) Admitted life insurance companies. c) Health Maintenance Organizations. d) Fraternal Benefit Societies.
a
Coverage under a Floor Plan Merchandise form is written on a reporting form basis that requires the insured to file reports with the insurer. What is the time frame for those reports? a) Within 30 days after the end of each month b) Within the first 10 days of each month c) By the 15th of each month d) 20 days after the report is due
a
Employment practices liability insurance (EPLI) would NOT cover claims arising from a) Deliberate law violation. b) Sexual harassment. c) Wrongful termination. d) Discrimination.
a
The HO-3 homeowners policy provides a) Open peril coverage on the dwelling and broad form coverage on personal property. b) Open peril coverage on the dwelling and basic form coverage on personal property. c) Basic coverage for the dwelling and broad form coverage for personal property. d) All-risk coverage for both the dwelling and personal property.
a
When may the Superintendent issue a letter of reprimand to a licensee? a) Only after the opportunity for a hearing has been provided to the persons who are the subject of the reprimand b) Only after a hearing has been completed on the subject of the reprimand c) At any time d) Only before any hearings are held on the subject of the reprimand
a
During a sales presentation a producer intentionally makes a statement which may mislead the insurance applicant. This describes a) Coercion. b) Misrepresentation. c) Defamation. d) Twisting.
b
Which of the following would NOT be covered under the liability section of a personal auto policy? a) After a party, the insured causes an accident and is charged with driving under the influence of alcohol. b) Bodily injury is caused by the insured's negligence while driving a three-wheel all-terrain vehicle. c) A trailer the insured vehicle is towing accidentally comes loose and causes injury to another person. d) A friend of your son is using the insured vehicle with the named insured's permission and causes an accident.
b
A building insured with commercial property insurance has been vacant 90 days. Which of the following is NOT true? a) The insured has no coverage for losses caused by glass breakage. b) Payment for unnamed perils is reduced by 15%. c) Payment for unnamed perils is reduced by 25%. d) The insured has no coverage for losses caused by theft.
c
An individual's construction company leaves mobile equipment and construction machinery on the job site until the project is completed. What could this individual use to insure it? a) Builders risk form b) General property form c) Contractors equipment floater d) Bailee's customers form
c
In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy period? a) Mysterious disappearance form b) Discovery form c) Loss sustained form d) Retroactive form
c
Medical benefits under Workers Compensation are provided without a maximum limit, but are subject to a) An underwriting requirement. b) Nothing. c) A fee schedule. d) A time limit.
c
Which of the following circumstances would be EXCLUDED under medical payments coverage of a personal auto policy? a) The insured's mother is injured while exiting from the insured vehicle. b) The insured is struck by another vehicle while crossing the street. c) The insured is injured while driving his motorcycle on his resident premises. d) The insured's friend is injured in an accident while riding as a passenger in the insured's car.
c
Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? a) Indemnity b) Representation c) Warranty d) Concealment
c
Which of the following types of valuation works best for property whose value does not fluctuate much? a) Stated amount b) Inflation guard c) Agreed value d) Market value
c
Frank's Steaks furnishes meat to steakhouses. An accident on the premises causes the building to lose refrigeration for 32 hours. The state inspectors will not allow the meat in the refrigerating units to be sold for human consumption, and Frank loses $18,500 in disposing of the meat. What coverage under Frank's BOP policy will cover the loss? a) Utility service - time element b) Extra expense c) Protective safeguards d) Utility service - direct damage
d
Termination of an in-force insurance policy prior to the expiration date shown in the policy is known as a) Rescission. b) Nonrenewal. c) Cessation. d) Cancellation.
d
Which of the following endorsements is used by individual business owners who use company vehicles for personal use rather than purchasing a personal vehicle? a) Drive other car b) Additional insured - lessor c) Hired autos specified as covered autos you own d) Individual named insured
d