Practice exam missed questions
The BOP contains a seasonal increase that automatically increases the limit of insurance for BPP by what %
25%
the commissioner inssues a cease and desist order and recieves a request for a hearing. within how many days must a hearing be held?
30 days
min auto liability limits in TX
30/60/25
Common carriers are required to issue a what to every person for which they transport goods?
A uniform bill of lading
Max penalty for habitual willful noncompliance with the Fair Credit Reporting ACt?
$2500
A plasterer has completed a job. What kind of liability coverage would protect them if the plaster falls and hurts someone because they did not perform the job correctly?
completed operations
workers compensation is available through the commercial package policy, T/F?
false
persons covered under an insurance policy whether named or not are known as?
insureds
Who is considered an employee in a commerical general liability policy?
part time worker full time worker leased worker
Loss sustained form
pays for losses that occur during the policy period are are found up to 1 yr after the policy is terminated
property insruance that provides $100k for a building and $50k for personal property at a single location is called
specific coverage
under the commerical property coverage program the basic causes of loss form insures against loss caused by
sprinkler leakage
Homeowners polices provide coverage for?
up to $2500 of business prrop while on the premises
Earthquake coverage...
-may be written in a difference in conditions policy -excluded by most property forms -may be added through endoresements
What is considered a cause for flood conditions covered by the National Flood Insurance Program?
-overflow of waters -rapid accumalation of runoff -mudflow
the commissioner issued a cease and desist order on an agent. if the agent wants a hearing, how many days do they have to request this
60 days
what is the deductible of a personal liability unbrealla policy called?
SIR (self insured retention)
the property and casualty insurance guaranty association maintains what accounts?
auto insurance workers comp account all other insurance account
in commercial general liability policies, which of the following has a per person limit?
medical expenses
when does coverage begin under the builder's risk form?
on the date construction starts
before an insurer will pay any loss, what is required from the insured?
proof of loss
Property is insured on a what basis?
replacement cost
an employee is entitled to what kind of benefits if the employee has a diability and has not attained max medical improvement?
temporary
the occurernce form trigger is based on?
the date when the damage/injury occurs
When a regular bill of lading is issued, who will be responsible for the invoice cost of any damaged property?
the person to whom the goods are being shipped
