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FUNDAMENTALS OF INSURANCE REVISION STUDY PRACTICE EXAM QUESTIONS CORRECTLY ANSWERED.
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FUNDAMENTALS OF INSURANCE REVISION STUDY PRACTICE EXAM QUESTIONS CORRECTLY ANSWERED.
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FUNDAMENTALS OF INSURANCEREVISION STUDY PRACTICE EXAM
QUESTIONS CORRECTLY ANSWERED.
Generally, Employers cannot be sued for bodily injuries sustained by their
employees in the course of their employment. This is because:
a. Employers cannot be expected to provide for continuous supervision of their
employees
b. Employees are responsible to obtain their own coverage under a separate
accident and sickness policy
c. Workers compensation plans provide employees with "no fault" insurance
benefits and remove their right to sue their employers for injuries received on the
job
d. employees are fully insured through contributions made to the federal
employment insurance plan
Verified Answer -c. Workers compensation plans provide employees with "no
fault" insurance benefits and remove their right to sue their employers for injuries
received on the job
Your client is considered hiring a contractor to preform renovations to a building.
She would share in any liability for injury or damage caused by such contractor in
all of the following instances, except one. Pick the exception.
a. When the work being contracted in inherently dangerous
b. When she supplied "blue prints" and leaves the contractor to his own resources
to arrive at the desired result
c. When she supplies effective machinery or equipment from which injury or
damage arises
,d. When she provides an on-site direction and on-going supervision of work
Verified Answer -b. When she supplied "blue prints" and leaves the contractor to
his own resources to arrive at the desired result
Parents will be requires to respond financially for injury or damage caused by
their children in all of the following instances, except one. Pick the exception:
a. When child shoots farmers cow while hunting with father
b. When child swerves to avoid a pot-hole in the road and runs over a toddler with
her bicycle
c. When child damages neighbour's fence will assist her farther in landscaping
their yard
d. When child employed part-time in the family business closes the door on
customers hand
Verified Answer -b. When child swerves to avoid a pot-hole in the road and runs
over a toddler with her bicycle
The following statements respecting liability insurance are all true except one.
Pick the exception:
a. Insure bodily injury and property damage caused to a third party
b. Are not intended to insure injury or damage intentionally caused
c. Provided for payment only when the insured is deemed to be legally liable
d. Provide for the payment of compensatory punitive and exemplary damages
Verified Answer -d. Provide for the payment of compensatory punitive and
exemplary damages
,Liability insurance policies provide coverage on an "occurrence" basis. An
occurrence basis policy:
a. Provides coverage only for a sudden and usual event
b. Provides coverage for accidents including injury or damage caused by
continuous and repeated exposure to substantially the same harmful conditions
c. Provides excess insurance over the existing liability policies
d. Provides coverage for bodily injury and property damage caused intentionally
Verified Answer -b. Provides coverage for accidents including injury or damage
caused by continuous and repeated exposure to substantially the same harmful
conditions
The only expense that insured is entitled to incur on behalf of the insurer in
respect to potential claim under a liability policy that is related to:
a. First aid
b. Legal Fees
c. Interest payments from the date the judgement is rendered
d. Amount of the judgement
Verified Answer -a. First Aid
Supplementary payments include all of the following costs, except one. Pick the
exception:
a. Cost of establishing the insureds defense
b. Court costs
c. Transportation
, d. Meals and accommodations
Verified Answer -d. Meals and accommodations
The liability coverage provided by homeowners form insure all of the following
premises owned or used by the insured, except on. Pick the exception:
a. Vacant farm land
b. Family cemetery plot
c. Vacant land purchased as a future dwelling site
d. Land where independent contractor is building a single family dwelling for the
insured
Verified Answer -a. Vacant Farm Land
The personal liability coverage provided on homeowners form are designed to:
a. Insure the legal liability of private citizens for their actions
b. Insurer the legal liability of insured arising out of their business pursuits
c. Insure the legal liability of insured arising out of the operation of all owned and
non-owned automobiles
d. Insure all exposures for which an insured might be legally liable
Verified Answer -c. Insure the legal liability of insured arising out of the operation
of all owned and non-owned automobiles
The voluntary payment for damage to property coverage provided under section 2
- liability coverage of the homeowners forms covers property damage
intentionally caused by insureds:
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