Simulator test Pt 3

In applying for an original certificate of authority, an insurer must submit an application with the appropriate fees and the following information, EXEPT A. A copy of its last financial statement B. state or country of domicile C. the amount of insurance it intends to write D. Name of the company

the amount of insurance it intends to write

Which of the following is NOT a characteristic of an insurable risk? A. The loss must be measurable B. The loss exposure must be large C. the loss must be catastrophic D. The loss must be due to chance

the loss must be catastrophic

All of the following types of property are covered by a standard builders risk form EXCEPT A. Temporary structures B. machinery that will be permanently attached the building C. tools 50 ft away from the building D. the building itself

tools 50ft away from the building

Supplementary payments on a CGL provide all of the following EXEPT A. pre-judgement B. the cost of bonds to release attachment C. up to $500 a day for lost earnings and $2,000 for the cost of bail bonds D.$100 in gasoline costs by the insured driving a witness to and from court

up to $500 a day for lost earnings and $2,000 for the cost of bail bonds

For the reported losses of an insured group to become more likely to equal the statistical probability of loss for that particular class, the insured group must become

Larger

An insured is driving her auto and strikes a large pothole, causing a flat tire. Which coverage of the insured's personal auto policy will pay for the repair?

Loss is not covered

The part of the policy that sets forth the rules of conduct, duties, and obligations of the parties is called the

Conditions

Whenever the commissioner believes that a licensee is acting or using methods contrary to the insurance laws or regulations of Alabama, to prevent further acts or methods from being conducted before a hearing can be held to determine the facts, the commissioner may impose

a cease and desist order on the license

Which of the following could be covered in an HO policy? A. property of a tenant not related to the insured B. an oriental rug in an on-premises apartment C. birds, fish, and animals D. a sports car kept in an attached garage

an oriental rug in an on-premises apartment

The liability coverage of the business owners policy is written on a

businessowners liability coverage form