Exam (elaborations)
RIBO - AUTO (1)
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Exam of 9 pages for the course Intro to Clinical Psychology 3003 Flinders Univers at Intro to Clinical Psychology 3003 Flinders Univers (RIBO - AUTO (1))
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RIBO - AUTOUnder the defense costs, the insured is covered for Legal fees over and above their limit
of liability arising out of loss or damage to a person or property as a result of an auto
accident. T or F - ANS-True (OAP1 PG19-20 3.3.1 and 3.3.2)
Who is defined as the insured person on your OAP1 under Accident Benefits? -
ANS-Your sister in law while driving the car you lent her, if she doesn't have her own
policy. (OAP1 PG 25 4.1)
If a person is unable to work due to an injury suffered in an auto accident, their OAP 1
could potentially pay: - ANS-Up to 70% of gross income up to $400 weekly.
What is the definition of territory that is specified in OAP 1? - ANS-Canada and the USA
or on a vessel travelling between ports of these countries.
The recreational vehicle endorsement (OPCF32) provides coverage for which vehicles?
- ANS-Snowmobile, trail bike, mini cycle, and dune buggy
The daughter of your client calls to report an accident she has had with her father's car.
The vehicle is not drivable and she is in the hospital with injuries. On completing the
claim report you find out that her father died a month earlier and no one advise the
broker or insurer. You advise her the insurer will: - ANS-Pay the claim in full. Death and
Bankruptcy (OAP1 PG 53 Stat Conditions Material Change in Risk)
The Facility Association is: - ANS-An insurance pool subscribed to by all auto insurance
companies, in order to share the writing of risks that are not ordinarily written in the
normal insurance market.
The threshold in Ontario refers to: - ANS-Death or permanent serious disfigurement or
permanent serious impairment of an important physical, mental or psychological
function.
The insured has an OAP 1 with a $300 deductible on Comprehensive coverage. A
cigarette sets the car seat on fire causing $500 in damage. How much will the insurer
pay? - ANS-500 bones (OAP1 PG 48 7.3 and PG 44 7.1.2 , we insure stupidity)
, The driver loses control on a slippery road and collides with a telephone pole, causing
damages to the insured vehicle and no damage to the telephone pole. This would be
covered under: - ANS-Loss or damage to insured automobile collision.
What is the minimum limit for liability coverage under an auto policy for the province of
Ontario? - ANS-$200,000.00
In the case of an accident involving the insured and an uninsured but identified driver
who is found at fault, the insured can: - ANS-Make a claim for damages to the insured
vehicle from their own insurer.
Property damage, under section 3 of the auto policy means: - ANS-Damage to property
of others but not the insured's own property. (You drive your car into someone's house
the house id the PD not your car) Always property of other's never the insured's own
property
A rented auto is considered an "other" non-owned vehicle for the purposes of coverage
by an insured's auto policy. Is this true with respect to an auto rented by an insured
while on vacation in the USA? - ANS-True
Third parties are not a party to a policy, true or false? - ANS-True
The Highway Victims Indemnity Funds: - ANS-Will not pay if the claimant is responsible
for causing the accident.:(For unidentified/uninsured accidents where victim d/n have
own/a policy to claim to)
Liability must be established with respect to who is at fault in an accident in regards to
Direct Compensation Property Damage (DCPD) True or False - ANS-True
You may be found guilty of misrepresentation when you sign an Ontario Application for
Automobile Insurance if you fail to disclose that: - ANS-You may be found guilty of
misrepresentation when you sign an Ontario Application for Automobile Insurance if you
fail to disclose that:
Which of the following statements about the Facility Association (FA) is false? -
ANS-Underwriting and claims functions for facility business are provided by all
insurance companies operating in Ontario. F: (Only Servicing Carriers)
What is not a function of the Ontario Insurance Commission? - ANS-Approving auto
insurance rates. (Financial Service Commission of Ont)
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