Insurance Licensing Exam Latest Updated
Which would NOT be covered by the inside the premises- robbery or safe burglary other property coverage? - ANSWER-An employee caught stealing cash from the register
The primary purpose of a surety bond is to - ANSWER-Make sure obligations are fulfilled
An ...
Which would NOT be covered by the inside the premises- robbery or safe burglary
other property coverage? - ✔✔✔ANSWER-An employee caught stealing cash
from the register
The primary purpose of a surety bond is to - ✔✔✔ANSWER-Make sure
obligations are fulfilled
An insurance agency could purchase an errors and omission insurance policy
which would provide protection in the event of any of the following events
EXCEPT - ✔✔✔ANSWER-The agency loses commission income from policies
that were not issued by the insurer
An uninsured motor vehicle includes all of the following EXCEPT -
✔✔✔ANSWER-A vehicle being used for public livery
,A bond is written for a set limit, and the surety will be liable only for this amount
of the limit. This limit is known as the - ✔✔✔ANSWER-Penalty
Workers compensation statutes provide coverage for diseases that occur as a result
of working in the employers working environment. Which of the following is an
example of a disease that would NOT be covered by such provisions -
✔✔✔ANSWER-An employee of a medical facility who suffers from a common
cold
All of the following are factors in rating workers compensation insurance EXCEPT
- ✔✔✔ANSWER-Sales
The medical payments coverage in a personal auto policy will pay reasonable
medical expenses for all of the following EXCEPT - ✔✔✔ANSWER-The insured
is injured while exiting a friends mobile home
In the event of a claim under a commercial general liability policy, the insured has
all of the following duties to the insurer EXCEPT - ✔✔✔ANSWER-Submitting to
a medical exam when requested
Which of the following special liability coverages will provide protection to
managers of a corporation for claims arising from wrongful act committed by the
manager while in an official capacity - ✔✔✔ANSWER-Directors and officers
liability
A passenger in a friends car is injured while getting into the car. Which of the
following statements would apply if both the passenger and the driver had medical
payments coverage under a personal auto policy? - ✔✔✔ANSWER-The drivers
policy would be primary
, The occurrence form trigger is based on which of the following? -
✔✔✔ANSWER-The date when injury or damage occurs
All of the following are factors in rating workers compensation EXCEPT -
✔✔✔ANSWER-Sales
Workers compensation rating is developed by applying a rating bureau job
classification rate to each - ✔✔✔ANSWER-$100 of payroll
A meteorite hits the insureds car, causing damage. Under which of the following
coverages in a personal auto policy would this loss be paid? - ✔✔✔ANSWER-
Other-than-collision
An insured has $5,000 of medical coverage on a personal auto policy at the time of
a covered accident. The insured and two passengers are injured. Medical treatment
costs $7,000 for the insured, $4,000 for the first passenger, and $8,000 for the
second passenger. How much will the policy pay under medical payments
coverage? - ✔✔✔ANSWER-$14,000
The limit is not more than $5,000 per person, per accident
When an umbrella policy is broader than underlying insurance and it pays a loss
that is not covered by the underlying policy, it usually only pays -
✔✔✔ANSWER-The excess over the self-insured retention
The party to a surety or fidelity bond who promises to fulfill the obligation is the -
✔✔✔ANSWER-Principal
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