simulate test

unless additional coverages are added to the BOP. The maximum amount of coverage on an outdoor sign attached to a building is limited to...

$1,000

Which of the following statements is true regarding the premium computation for workers compensation insurance?

A premium auditor has the right to examine the insured's compensation records at the end of the policy period to determine the actual premium basis.

all of the following persons would be covered under a business auto policy except?

All employees of the named insured operating an auto owned by the employee spouse

In order to receive transportation expenses under the personal auto policy following to your auto cause by collision you must have...

Collision Coverage

All of the following are optional endorsements that may be added to the standard equipment breakdown coverage form except?

Debris Removal

An executive is accused of sexual harassment. What type of coverage would respond?

Employment practice liability

True or False: An umbrella policy will automatically cover all losses as they occur.

False

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

Implied

Which of the following endorsements is used by individual business owners who use company vehicles for personal use rather than purchasing a personal vehicle?

Individual named insured

What is the other major coverage provided by the business owner's liability coverage form?

Medical Payment

Guaranteeing future dividends is considered to be an unfair or deceptive act known as?

Misrepresentation

Which provision defines how the policy will respond if there is other valid insurance written on the same risk?

Other Insurance

Policy limits are the maximum amount an insured may collect, or for which an insured is protected under terms of the...

Policy

Personal Injury Protection includes coverage for which of the following accident-related expenses?

Prosthetic expenses for 2 years, up to a limit of $15,000

Adverse selection is a concept best described as?

Risks with higher probability of loss seeking insurance more often than other risks.

Which of the following symbols in a business auto policy indicates that coverage for newly acquired vehicles applies if the insurer already covers all autos owned by the insured?

Symbol 7

A golfer slices a tee shot and the ball goes through the window of a house beside the fairway. The broken glass is paid for by...

The golfer's homeowner's liability coverage

What is an insured contract?

Those contracts that are automatically covered under the exposure of premises coverage in a general liability contract.

True or False: On the business owners property coverage form, buildings and business personal property are covered

True

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

Uninsured motorist coverage

Medical benefits under worker's compensation are provided...

Without Limit

The obligations to compensate injured workers without regard to fault or negligence is known as?

absolute liability