AUTO
the uninsured motorist coverage covers against if the at fault motorist is
A) Insured
B) Uninsured and Unidentified
C) Uninsured
D)Uninsured and Identified
D)Uninsured and Identified
What is not covered in Glass Insurance ?
FIRE is not covered, war, nuclear damage, explosion, lightning
1. Jack was in a multi-vehicle accident. After making a claim, what should Patrick do?
a. Hire a public adjuster to advocate and investigate the claim on his behalf
b. Help the insurer obtain information and evidence about the incident, including witnesses.
c. Do nothing, as the claim investigation is the responsibility of the insurer.
d. Attempt to settle the claim with the other accident victims.
b. Help the insurer obtain information and evidence about the incident, including witnesses.
a fire damages your neighbors house, during repairs the damage extends to your house, what would the peril of fire be to your property?
a- immediate cause
b- effective cause
c- proximate cause
d- remote cause
c- proximate cause
Reference: C81 - Study 4 - LO2
1. What is a tort?
a. A civil wrong committed against another person.
b. A criminal harm committed against another person.
c. The legal process where the insurer can recover the amount of a loss from those found legally liable.
d. A declaration made under statutory authority before a commissioner of oaths, asserting knowledge of facts.
a. A civil wrong committed against another person.
under a homeowners policy, which of the following is not an additional condition:
a - parts -
b- sue and labour-
c- subrogration
d- benefits to bailee
d- benefits to bailee
Eddie has mandatory coverages plus collision and comprehensive coverages. When he finds out that his car is stolen, he immediately reports to the police. Does his coverage help with the costs of ride sharing service to commute to work?
a. No, as he did not wait 72 hours to report it to the police
b. Yes, for the first 72 hours up to $900 total
c. Yes, after the first 72 hours up to $900 total
d. No, as this is not a reasonable expense
c. Yes, after the first 72 hours up to $900 total
What are the sections of insurance coverage in a tenants policy?
a. Personal property; Personal liability; Additional living expense
b. Personal property; Personal liability; Loss assessment coverage
c. Personal property; Personal liability; Detached private structures
d. Personal property; Personal liability; Improvements and betterments
Reference: C82 - Study 5 - LO1
a. Personal property; Personal liability; Additional living expense
under professional liability - errors and omissions , which of the following is not covered :
a - lawyer
b- doctor
c- accountant
d- engineer
B - Doctor
1. What limit of insurance is provided by the family protection endorsement (OPCF 44R)?
a. The limit is a maximum of $500,000.
b. The limit is a maximum of $1,000,000, which is the standard limit amount for the OPCF 44R.
c. The limit is a maximum of double the provincial minimum limits or $400,000 in Ontario.
d. The limit is a maximum of the difference between the provincial minimum limit ($200,000 in Ontario) and the OPCF 44R endorsement limit.
d. The limit is a maximum of the difference between the provincial minimum limit ($200,000 in Ontario) and the OPCF 44R endorsement limit.
What are intermediaries required to do after they become licensed?
a) They must follow the requirements of the provincial & territorial insurance Act and regulations in the operation of their business.
b) They must demonstrate knowledge of the insurance business through an annual exam.
c) They must sell as many insurance policies as possible, for the companies they represent.
d) They must report the status of their licence to the insurance companies they represent.
a) They must follow the requirements of the provincial & territorial insurance Act and regulations in the operation of their business.
Reference: C81 - Study 4 - LO4
What is the priority of payment for uninsured motorist coverage:
a) 95% for bodily injury and 5% for death
b) 95% for damage to vehicle and 5% for death
c) 95% for bodily injury or death and 5% for damage to vehicle
d) 95% for damage to vehicles and 5% for damage to contents
c) 95% for bodily injury or death and 5% for damage to vehicle
What is NOT included in the items covered under a produce endorsement?
a) Fertilizers
b) Seeds
c) Packaging
d) Growing crops
d) Growing crops
Reference OTL HO C82 CHP 6 Commercial MCQ AK NEW / Answer Key Quizzes
Generally, what does the family protection endorsement (OPCF 44R) cover?
a. The total cost of a claim with an uninsured and unidentified driver if the accident occurred in Ontario.
b. The shortfall created if an at-fault driver carries inadequate insurance to pay for the bodily injury or death damages s/he caused to a third party.
c. The total cost of a claim with an uninsured but identified driver if the accident occurred in Ontario.
d. The shortfall created if an at-fault driver carries inadequate insurance to pay for the physical damages s/he caused to a third party.
b. The shortfall created if an at-fault driver carries inadequate insurance to pay for the bodily injury or death damages s/he caused to a third party.
Under the basic fire insurance policy, a fire claim will be excluded if the fire
a) Occurred as a result of a civic disturbance.
b) Occurred during a civic disturbance.
c) Originated in a neighboring property.
d) Was started intentionally by someone other than the insured.
a) Occurred as a result of a civic disturbance.
. Why does an insurer require an OPCF 19—Limiting the Amount Paid endorsement for a 20-year-old Honda civic that has recently received an expensive custom paint job?
a. The replacement cost of the car now exceeds the values used when establishing the rate groups
b. To minimize their exposure because Honda’s are considered a high theft risk
c. To discourage depreciation claims when the custom paint fades or is subject to wear and tear
d. The Actual Cash Value (ACV) of the car now exceeds the values used when establishing the rate groups
d. The Actual Cash Value (ACV) of the car now exceeds the values used when establishing the rate groups
What type of insurance would best suit the needs of an insured who owns a cottage that is in use all year long and has many features of a primary residence?
a. Rental Property Form
b. Seasonal Homeowners Form
c. Homeowners Form
d. Cottage or Seasonal Dwelling Form
Reference: C82 - Study 5 - LO3
b. Seasonal Homeowners Form
What is the relationship between losses and insurable claims?
a) A loss can occur whether or not it is an insurable claim.
b) An insurable claim can occur even if there is no loss.
c) A loss is an insurable claim if it occurred during the policy period.
d) All losses result in insurance claims.
a) A loss can occur whether or not it is an insurable claim.
Reference: C81 - Study 6 - LO2
A Lawsuit for non-economic loss is subject to a deductible, what endorsement would offset this deductible?
a) Opcf 48
b) Opcf 38
c) Opcf 24
d) Opcf 42
a) Opcf 48
Insurance under property policies cannot normally be assigned unless the insurer consents. Which of the following changes in interest is the exception and receives automatic consent?
a. Rishma sells her house to Sean. Since Rishma is moving in with her sister, she no longer needs her Homeowners policy and sells the remaining term of the policy to Sean as well.
b. Alison begins to have trouble making her mortgage payments soon after moving into her house. Her parents agree to pay her mortgage. They ask Alison to change her Homeowners policy to show them as the named insureds.
c. Georgette has the ownership changed on her mother’s home after her mother dies, as Georgette is the sole survivor. She doesn’t contact the broker or arrange other insurance because there is six months remaining on her mother’s policy.
d. Melinda’s Flower Shop goes bankrupt. Leah buys the business from the receiver. Leah retains the employees and suppliers and will continue to operate under the original name. Nothing but the ownership has changed and the insurance policy that existed on the shop when it was owned by Melinda does not expire for four months.
c. Georgette has the ownership changed on her mother’s home after her mother dies, as Georgette is the sole survivor. She doesn’t contact the broker or arrange other insurance because there is six months remaining on her mother’s policy.
1. Following an accident involving two drivers, who has the onus of proof during a lawsuit?
a. The person suing (plaintiff).
b. The person being sued (the defendant).
c. Each party’s insurer in the lawsuit (plaintiff and defendant) must prove their respective sides.
d. Each party’s lawyer in the lawsuit (plaintiff and defendant) must prove their respective sides.
a. The person suing (plaintiff).
What three areas does the Insurance Companies Act regulate?
a. Establishment of an insurance company, prerequisites to operation, and supervision during operation
b. Establishment of an insurance company, prerequisites to operation, and licensing of executive officers
c. Establishment of an insurance company, capacity during operation, and licensing of executive officers
d. Capacity during operation, licensing of executive officers, and reporting of loss results to a general insurance statistical agency
a. Establishment of an insurance company, prerequisites to operation, and supervision during operation
A property valued at $2,000,000 and insured for $1,500,000 suffers minor fire damage. There is an 80% coinsurance clause. Calculate the amount to be paid by the insurer. Damage is $2300.
a) $2156.25