Review to property & casualty

A producer sold an insurance policy subsequently his license was suspended in this case how much a commission would be a producer receive?

All And insurance entity or licensee cannot pay a commission or fee to a person if the person's license is suspended or revoked however a commission maybe paid if the person was license at the time of the sale

The term Fiduciary capacity refers to a producer's

Position of financial trust to clients and insurance company Producers have Fiduciary Responsibility a position of financial trust to their clients and insurance company. Producers are responsible to collect and disperse premiums, return premiums to the insured insured or in a timely manner

What type of liability would a person who owns a swimming pool have?

Absolute Any you conduct that is inherently dangerous swimming pool is using explosives keeping wild animals imposes absolute liability the claimant does not have to prove anything

In which of the following sections of a commercial auto policy will you find the specific information about the policy period?

Conditions The conditions section of an auto policy to find coverage in greater detail and determines such things as policy. Cover territory and how coverage will apply in certain situations

Which of the wood not be covered by medical payments to others in section 2 of your HO policy?

You cut your leg while whacking weeds in your backyard with your neighbors Weedwhacker Medical payments to other invitees resident employees not covered by Worker's Compensation injury to others caused by animals in your control if you hurt yourself accident and health insurance would be needed for your injuries

What is the basic limit for cost incurred at the place of vehicle is disabled provided by the towing and labor cost endorsement?

$25 This endorsement provide a basic limit of $25 for towing and labor cost incurred at the place a vehicle is disabled. Higher limits are available for an additional premium

Licensee must make a report of any action taken against them in another jurisdiction or buy another government agency in Pennsylvania within how many days of the final disposition of the matter?

30 Licensee must make a report of any action taken against them and another jurisdiction or buy another government agency in Pennsylvania within 30 days of the final disposition of the matter

A business owner has a building and personal property policy that covers a shed in which he stores extra parts if he buys the second shed for the same purposes this will be automatically covered for how long?

30 days

If I telemarketer wants to make an insolicited sale call to a potential customer what is the earliest time to telemarketer can call the prospective residents?

8 AM Permissible calling hours for telemarketers are between 8 AM and 9 PM

And insured is driving above the posted speed limit as he rounds the car he crashes into any legal parked car this is an example of?

Contributory negligence When one is partially responsible for his or her own boss. It is termed contributory negligence

Which of the following is true of dwelling policy coverage?

Exclusions apply to all three policy forms. Dwelling policy forms contain several general exclusions that define the actual extent of coverage provided. These exclusions are found in all three dwelling forms broad, basic and special

Which authority is not stated in an agent contract but is required for the agent to conduct business?

Implied Implied authority is not written in the agent contract but is required in order for the agent to conduct business. Implied authority exist because not every single detail of an agent authority can be written in a contract

State law specifically prohibits using illegal inducement in the marketing of insurance. All of the following would be considered illegal inducements except?

Inviting prospective clients to the ground opening of the company's new office Inducement is any legal practice. It involves offering anything of value to a prospective client that is not specified in the policy as an incentive to buy insurance stock ponds benefit certificate dividends or profit could be used as inducement

All of the following statements describes the concept of strict liability except?

It is imposed on defendant engaged in hazardous activities Strict liability is Carmen applied in product liability cases. The business is then liable for defective products regardless of fault or negligent.

A business uses its own truck to deliver their own product to the customer Which commercial auto coverage form should the business by to ensure the trucks?

Motor carrier coverage The motor carrier coverage form can cover anyone who transports good. Private carriers can be insured under the business auto coverage form or the motor carrier coverage form.

ABC trucking company recently purchased XYZ manufacturing company. ABC wants to transport the new company is freight with their trucking division. The company also wants to continue to haul freight for the clients it has served for many years. In regards to coverage which of the following is true?.

Motor carrier coverage is needed The motor carrier coverage form can cover anyone who transports good. Because the truckers coverage form does not cover private carriers the motor carrier coverage will cover both private and Carmen or contract carrier

Under the fair credit reporting act if the consumer challenges the accuracy of the information contained in his or her report?

Respond to the consumers complaint that consumer has the right to the results of the information on the report the reason for turn down And any adverse underwriting decision they're reporting agencies with choir to respond to the consumers complaint and if necessary to reinvestigate the report.

Which one of the following symbols used in business auto coverage is correctly described?

Simple 9 owned auto's Symbol one is used for any auto symbol to is used for owned autos only symbol 7 is used for specifically described Auto's only

Which of the following statements is true regarding the commercial general liability policy coverage C medical payments?

The coverage is considered good will because payments are made without regard to fault Coverage C Medical payments provide necessary medical surgical ambulance hospital nursing or funeral expenses for injuries to third parties. Payment will be paid without regard to the thought of negligence of the insured.

Which of the following losses would be covered under the property damage liability coverage of a personal auto policy?

The insured damages a rent a garage when he failed to stop in time Damage to a non-owned structure would be covered under property damage

In the personal auto policy owned trailers being towed by an insured auto are automatically covered by

Uninsured motorist coverage Trailers while being towed by an insured auto Are covered automatically for bodily injury property damage and uninsured motorist under part a of personal auto liability

The cost of restoring is an additional coverage offered under a farm policy pay to restore the records?

Up to $2000

Supplementary payment on the CGL provide all of the following except?

Up to $500 a day for the lost earnings and 2000 for the cost of bail bonds Supplementary payments will cover only $250 for these