Missed on Guarantee Exam

cov C in HO offers all the following except a. coverage for property located at another residence b. coverage for loss of use c. worldwide coverage d. coverage for property of others

b

golfer slices tee shot and breaks window, broken glass paid for by a. property cov of golf course b. golfer's HO liability coverage c. homeowner's HO d. liability policy of golf course

b

other than perils, difference in the three DP forms is coverage, which of the following is covered by DP2/DP3 but not DP1 a. cov D-fair rental value b. cov E- additional living expense c. cov A- dwelling d. cov B-other structures

b

what part of insurance contract describes covered perils/nature of coverage of the contractual agreement between insurer and insured?

insuring agreement

FOR NEGLIGENT LIABILITY TO EXIST WHICH IS NOT REQUIREMENT a. intervening cause b. proximate cause c. breach of legal duty to act or not act d. injury or damage to another

a

an insured's diner suffers fire loss. floor covering had to be replaced because of water damage. it took 4 weeks for repairs to be completed. insured was w/o income. insured's policy includes both direct/indirect losses. what part of loss would be paid as indirect loss? a. both the loss of income and floor covering b. entire loss be paid as direct loss by fire c. loss of income for time diner was closed d. cost of replacing floor covering due to water damage

c

which sets minimum limits of liability for motor vehicle insurance policies a. director b. individual policy c .motor vehicle financial responsibility law d. automobile insurance plan

c

which exposure not covered under HO? a. personal liability b. medical payments to insured c. unscheduled personal property damage d. bodily injury to others

b

which is not required to be included on an insured's proof of financial responsibility card a. name of insurer b. mailing address insured c. telephone number of insurer d. mailing address of insurer

b

an insured rents out a bedroom for $50 per week. residence badly damaged by fire. 3 weeks to repair and insured pays $900 for short term apartment. Disregarding meals, how much would HO-3 pay under cov D?

$1050

homeowner has misplaced some of her insured personal property and does not know what has happened to it. Which HO policy would cover such a loss?

HO 5

a producer's license is placed on inactive status after ordered into military service. When may producer receive commission? a. producer may receive commission on sales before license made inactive b. once inactive, producer can no longer receive commissions c. producer can only receive commission when license made active again d. producer will continue to receive commission regardless

a

all are true regarding Fair Credit Reporting Act but a. reports may be sent to anyone who requests it b. insurers not required to give customers copy c. applies to credit reports in connection w insurance, banking, employment d. customer must be notified if adverse action is taken as a result of report

a

an insured has PAP with limits 100/300/50 and deductible is $1000. other driver gets $125000 for his injuries, $25000 for damage to his car. insured's vehicle has $1200 worth of damage. total payment made under the insured's policy is a. 125200 b. 126200 C. 100200 D. 150200

a

if a car is stolen and left on a snow bank, radiator freezes and is damaged, damage covered by PAP? a. yes, freezing exclusion removed if car stolen b. yes, no exclusion for freezing c. no, freezing never covered d. no, theft is never covered

a

in PAP, underinsured motorist coverage applies when a. you injured in auto accident where another is at fault who has limits of insurance that are not adequate to cover your medical expenses b. you are involved then discover your insuranbce company is insolvent c. you at fault but you limits won't pay d. you injured in auto accident where another is at fault who has no insurance

a

in contrasting stock/mutual insurers, which is true? a. stock insurers owned by shareholders and issue nonparticipating policies b. stock dividends are tax free while policy dividends taxable c. nonparticipating policies can pay out dividends to the policyholders d. mutual insurers are owned by shareholders and issue participating policies

a

personal umbrella policy may act as excess over any of the following except a. auto collision coverage b. HO section 2 c. auto liability cov d. comprehensive personal liability

a

under cov B, HO provides coverage for other structures on residence premises. Which is not true a. any loss paid under cov B reduces cov A limit of liability b. other structures must be set apart with clear space c. detached garage can be covered if rented out as private d. other structures may not be used to store business property of others

a

when insurance is written on a dwelling form, which of the following types of property would be insured under cov B? a. garage separated from dwelling b. materials/supplies used for construction/repair of dwelling c. laundry room attached d. building/outdoor equipment

a

which does not describe endorsements a. endorsements may only add coverage to current policy, not remove b. they may be added during term c. printed addenda to policy d. must be signed by executive officer

a

which of the following covers interest of a secured lender in personal property a. loss payable clause b. fair value clause c. third party clause d. indemnity clause

a

an insured's kid runs into planter and causes $500 of damage. Which section of the insured's HO would Pay? a. section 2, subject to deductible b. section 2, no deductible c. section 1 no deductible d. section 1, subject to deductible

b

deductible under earthquake cov is stated as a. half policy premium b. percentage of loss c. flat dollar amount d. percentage of policy premium

b

in reference to insurable interest, which is not element of insurable risk? a. business b. personal c. blood d. financial

b

under coverage C, and at request insured, personal property of a guest or resident employee is covered a. only while on resident premises b. while it is in any residence premise occupied by an insured c. while it is in any residence premise occupied by a named insured d. anywhere in world

b

which endorsement, when added to PAP, alters definition of covered auto to include golf carts, motorcycles, etc a. non highway b. miscellaneous type c. recreational d. extended coverage

b

a scheduled personal property endorsement will be used to insure a. personal vehicle used by travelers anywhere in world b. personal items at ACV c. higher limits of coverage for fine arts items d. high value items only within US

c

an applicant for disability insurance policy has heart condition of which they are unaware and answer no to question pertaining to heart problems. The answer is considered to be a. concealment b. fraudulent answer c. representation d. warranty

c

as part of special provisions AZ endorsement found in dwelling policy, a notice of cancellation a. not required b. includes 60 day grace period c. only be mailed to insurer d. must be delivered to insurer

c

change in fire dep. service charge, in AZ dwelling policy now states a. not cover property but will cover casualty costs b. be exempt from payments of reimbursement in event of arson c. not cover charges incurred when fire dep is called to save covered property d. cover all charges incurred when fire dep is called to save covered property

c

cov E/F would respond to claim arising from all except a. insured's boat stored in garage injures visitor b. insured's dog left in care of friend bites salesman c. insured's 14 son throwing rock at house and breaks windows d. resident maid trips and breaks leg

c

if the insurer cancels or nonrenews for nonpayment of premium after grace period, it must notify of it to the policy holder a. by end of month b. in person c. first class mail d. standard mail

c

which is not required to accompany a notice of cancellation on an automobile insurance policy a. notice of insured's right to complain to Director b. refund of unearned premium c. 30 day waiver coverage d. reason for cancellation

c

guaranteeing future dividends is deceptive act known as a. churning b. false financial statement c. rebating d. misrepresentation

d

if insurance policy has additional coverage provision, how does it affect policy premium a. premium recalculated when loss occurs b. additional premium assessed c. premium calculated pro rata d. no additional premium

d

in order to receive transportation expenses under PAP following damage to your auto caused by collision, you must have a. uninsured motorist property damage b. supplementary payments c. other than collision coverage d. collision cov

d

personal property off-premises extension of dwelling forms provides limits of coverage up to a. 10% cov A anywhere in US/Canada b. 10% cov A anywhere in world c. 10% cov C anywhere in US/Canada d. 10% cov C anywhere in world

d

policy limits are the maximum amount an insured may collect, or for which an insured is protected under the terms of the a. insuring agreement b. conditional receipt c . application d. policy

d

the amount of loss the insured is willing to absorb without insurance protection is a. maximum deductible b. stop loss c. limit of liability d. self insured retention

d

what kind of coverage does DP3 provide a. basic b. named c. broad d. open

d

which is covered under DP a. freezing plumbing systems b. flood/surface water c. structures used for commercial manufacturing d. fire caused by earthquake

d

if fire erupts and spreads to upstairs bedroom, resulting in destruction of furniture, what type of loss has occurred?

direct

trucking company has $1 million umbrella policy. agrees to 200/500/100 and personal liability of $400k. after accident, injuries awarded to single injured party to the amount of $300k. however business only carried 100/250/50 auto liability limits. total amt umbrella policy will pay? a. 50k b.100k c.200k d.300k

b