Exam (elaborations)
Other Personal Lines Insurance- Chapter 8 Questions and Answers Fully Solved
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Other Personal Lines Insurance- Chapter 8
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Other Personal Lines Insurance- Chapter8
Boats of what length require a Watercraft Policy for coverage? - answer longer than 26
feet
Which of the following items would not need to be covered under a personal articles
form? - answer A leather couch
Which of the following statements regarding a standalone windstorm policy is correct? -
answer The maximum deductible is usually 10%
All of the following are common exclusions found in inland marine insurance, EXCEPT?
- answer damage due to theft
An uncontrolled inland marine property form is: - answer not standardized by a rating
bureau
An insured wishes to purchase insurance that would protect her in the event that her
personal liability limits are exhausted. As her agent, you would suggest she purchase
a(n): - answer umbrella liability policy
Which of the following personal articles is best insured utilizing a stated value basis for
loss payment? - answer an original oil painting by a prominent artist
If Jim has $100,000 liability coverage under his personal auto policy, how much would
the insurer have to pay if the courts awarded a claimant $125,000, the costs of defense
was $3,000, and Jim had to take two days off from his job, which cost him $200? -
answer$103,200
When the liability limits of an existing or underlying contract have been exhausted,
additional coverage may be supplied by a(n): - answerumbrella policy
What loss is NOT covered by the National Flood Insurance Program? - answersewer
backup
Floyd purchased flood insurance when he purchased his dwelling since it was in a
designated flood plan. When a flood occurred 20 days after he took possession -
answerhis flood insurance carrier paid his claim
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