PKG & BOP
Which commercial property coverage form is designed to cover buildings under construction:
What is Builders Risk?
Uninsured motorists coverage applies to:
A) A Hit and Run Driver
B) A driver with insurance, but the limits of which are less than the states minimum requirements
C) A Driver with no insurance
D) All of the Above
What is all of the above?
After an audit, the estimated premium becomes the:
A) Final Premium
B) Remuneration
C) Manual Rate
D) Total Payroll
What is Final Premium?
An impact between the insured's auto and a cow would be covered under which part of the personal auto policy?
What is "Other than Collision"
An applicant for an insurance license is required to pass the state licensing exam and achieve a score of:
What is 70%?
A situation where two or more perils occur at the same time or in sequence to cause a loss is called:
What is Concurrent Causation?
A car swerves into a tree to avoid a moving deer. What coverage applies?
What is Collision coverage?
The part of a workers comp policy that provides the business owner coverage if his company is sued for an employee injury or illness
What is employer's liability?
What is covered by DP-2 that is NOT covered by DP-1?
A) Vandalism
B) Lightning
C) Fire
D) Theft
What is Vandalism?
Vehicles that are used for Transportation Network Companies (Uber, Lyft, ...etc) are generally covered by the driver's personal auto policy.
What is false?
The peril when there are visible signs that someone broke in to steal money when a business is closed
What is burglary?
I have 2 auto policies. One to cover my personal passenger vehicle, and one to cover my box trucks. Which symbols I should have?
3- Owned Private Passenger Autos Only
4- Owned Autos Other Than Private Passenger Autos Only
What types of injuries are covered under the Employers Liability section of the Workers Compensation policy?
A) Financial Damage
B) Physical Damage to Property
C) Bodily Injuries
D) Any type of injury which results in a law suit
What are bodily injuries?
Medical payments coverage under the personal auto policy applies for medical bills insured up to how long after an accident?
What is 3 years?
What party to a fidelity bond is protected by the bond?
What is the obligee?
In a commercial Property Policy with a vacancy permit endorsement, for a loss to be covered, the loss must occur when?
What is during the permit period?
What is a combined single limit comprised of?
What is any combination of bodily injury and property damage liability claims?
The number of days an injured employee must be out sick or recovering from an injury before the insurance company begins paying for wages
What is 3 days?
The standard amount of coverage of homeowners insurance for other structures (Coverage B) is typically for what percentage of the dwelling amount?
What is 10%
What law made ship-owners responsible for bodily injuries to seamen?
What is the Jones Act?
For debris removal coverage to apply, debris removal expenses must be reported within how many days of the loss?
What is 180 days?
What is the difference between GVW and GCW?
•Gross Vehicle Weight
The allowable loaded weight for an individual vehicle including the weight of the vehicle as indicated by the manufacture
•GCW – Gross Combined Weight
The allowable loaded weight for a tractor and trailer combined, as indicated by the manufacturer, including the weight of the vehicle.
"Misclassified" Employees are always covered
What is False?
A motorhome could be insured by:
A) Adding an endorsement to a homeowner's policy
B) Adding an endorsement to a personal auto policy
C) Purchasing a separate RV policy
D) Any of the above
What is any of the above?
In Ocean Marine if the captain and crew steal the ship and cargo without the ship-owners knowledge
What is Barratry?