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Insurance
100
Theft, Fire and hitting an animal, what are 3 other exposures that would be covered under OTC?
What is Glass breakage, Loss caused missiles, Falling objects, Explosion, Riot of civil commotion, windstorm, hail, water, malicious mischief or vandalism, EQ
100
For a partial property loss to be paid at replacement cost, what percentage of the market value of the home has to be insured? A. 100% B. 90% C. 80% D. 70%
What is 80%
100
When an insurance company cancels a Personal Auto Policy for nonpayment of premium, it is required to give the named insured at least: A. 10 days advance notice B. 20 days advance notice C. 30 days advance notice D. 60 days advance notice
What is A. 10 days advance notice
100
Which of the following basic perils is exclusion? A. Fire B. Lightning C. Explosion D. Falling object
What is D. Falling object
100
. What type of insurance coverage is used for strict liability? A. Railroad protection B. Owner/contractor protection C. Builder's risk D. No benefit to bailee
What is A. Railroad protection
200
Amy carries $300k single limit policy and has an at fault accident. John suffers 250k in injuries and his RV damages are $87,000. How much can be paid out to John for this loss?
What is $300k liab
200
In a homeowner's policy, what is Coverage D? A. Dwelling B. Other structure C. Loss of use D. Personal property
What is Loss of use.
200
What is coverage that protects property movement on land? A. Trucker insurance B. Cargo insurance C. Ocean marine insurance D. Inland marine insurance
What is D. Inland marine insurance
200
an abrupt falling down or caving in of a building with the result that it cannot be occupied for its current intended purpose.
What is Collapse
200
What is "losses are paid within 30 days after the insurer receives insured's proof of loss"? A. Reasonable repairs B. Mortgage clause C. Loss payment D. Insurance clause
What is C. Loss payment
300
Under a Personal Auto Policy, coverage for each of the following losses would apply regardless of whether an insured is at fault for the accident EXCEPT: A. collision damage to the insured’s car. B. other than collision damage to the insured’s car. C. medical payments for the injury to an insured. D. damage to another car which is struck by an insured driver.
What is D: damage to another car which is struck by an insured driver.
300
4 What is the most we will pay for Tree Debris removal in any one loss regardless of the amount of fallen trees and what is the limit for 1 tree?
What is $1,000 is the most we will pay in any one loss regardless the number of fallen trees.  And only $500 will be paid for the removal of any one tree.
300
. What type of hazard is a deliberate creation of loss by an insured in order to collect insurance payment or benefits? A. Morale hazard B. Physical hazard C. Moral hazard D. Legal hazard
What is C. Moral hazard
300
Bob parked his covered auto by the side of the road one day and turned off the engine. He realized too late that the soft sand of the road bank was beginning to give way, and the car started to slide off the road. It did not hit anything, but ended up on its roof and was damaged. Which personal auto coverage, if any, might cover this loss? A. Supplementary Payments B. Other Than Collision Coverage C. Collision Coverage D. The loss is not covered
What is D. loss is not covered
300
Two policies written identically are A. Concurrent B. Non concurrent C. Primary D. Excess
What is A. Concurrent
400
Which of the following locations are NOT within the Personal Auto Policy Territory? A. Puerto Rico B. Canada C. Mexico D. Hawaii
What is Mexico
400
Name 2 key features of the Scheduled Personal Property Endorsement HO 04 61?
What is it 1] Increases any existing policy limitation on a class of property (ex. jewelry) to a specific amount  2] Provides coverage on an Open Peril basis 3] Coverage applies with no deductible
400
Mac has split liability limits of $25,000 per person and $50,000 per accident for BI and $10,000 per accident for PD. If he causes an Accident and is held liable for $32,000 in damages to Mr. A and $18,000 in damages to Mr. B, plus $12,000 for damage to Mr. A’s car, what is the most that his policy will pay for these damages? A. $50,000 B. $53,000 C. $60,000 D. $62,000
What is 25k to MR A, 18k To Mr B and 10k for mr A's car. $63,000
400
In a hard rain storm Jeffrey drove thru a deep puddle stalling his engine. Jeffrey carries full coverage on his policy with a $500 collision ded and $250 OTC ded. Does Jeffrey have any coverage for this loss and how much is his deductible?
Yes there is coverage, $250 ded
400
9. 4Jane Doe is liable for an accident in which her car strikes Tom Kelly’s pickup. Jane’s personal auto liability coverage would apply to all of the following losses EXCEPT: A. injury to Tom Kelly. B. Injury to Jane Doe. C. injury to Tom’s passenger. d. damage to Tom’s pickup
What is d. damage to Tom’s pickup
500
The “Other Insurance” provision under Medical Payments coverage: A. prohibits an insured from having similar coverage under two or more policies. B. specifies how the coverage will apply if there is other applicable Medical Payments Coverage. C. states that the insured’s policy will apply as primary coverage in all cases. D. states that the insured’s policy will apply as excess coverage in all cases.
What is D. states that the insured’s policy will apply as excess coverage in all cases
500
What is the purpose of the – Specified Additional Amount of Insurance endorsement?
What is allows the Coverage A limit stated on the Declarations page to be increased when there is a loss to the structure insured under Coverage A which is greater then the stated limit. Amica’s form of this endorsement allows the Coverage A limit to be increased by a maximum of 30% (R/C)
500
What are the 4 sections of an Insurance contract?
What is D -declarations I- Insuring Provision ( Agreement) C- Conditions E - Exclusions
500
Each of the following are physical damage Exclusions found in Part D of a Personal Auto Policy EXCEPT: A. damage due to wear and tear B. loss to equipment designed to detect radar C. damage caused by a riot or civil commotion D. loss due to radioactive contamination
What is C. damage caused by a riot or civil commotion
500
In order for a replacement vehicle to have the same coverages as the auto it is replacing, the insured must notify the insurance company within 14 days only if he or she wishes to add or continue: A. Part A- Liability Coverage B. Part B- Medical Payments Coverage C. Part C- Uninsured Motorists Coverage D. Part D- Coverage for Damage to your Auto
What is Part D- Coverage for Damage to your Auto
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