If An HO-3 Policy Has A Coverage Limit Of $100,000 On The Dwelling, How Much Coverage
Would Automatically Apply To Cover The Insureds Personal Property Under Coverage C?
A. $20,000
B. $25,000
C. $50,000
D. $100,000 - ✔✔$50,000
Which Of The Following Insurance Principles Permits A Policy Holder To Be Reimbursed For
Losses Experienced? - ✔✔Indemnification
Uncertainty Concerning Financial Loss Best Describes The Concept Of ________ - ✔✔Risk
Collision Insurance Covers Which Of The Following?
A. All Damage To An Auto Struck By The Insured, If The Insured Is Legally Liable
B. Upset Of The Auto Without A Deductible Applying
C. Direct Loss To The Auto Caused By Collision With Another Object
D. Collision Of The Covered Vehicle With A Large Animal - ✔✔Direct Loss To The Auto
Caused By Collision With Another Object
All Of The Following perils Are Covered By A Basic Property Insurance Policy EXCEPT -
✔✔Falling Objects
,By Entering Into An Insurance Contract, A Policy Holder Transfers The Right Of Legal Action
Against A Responsible Third Party To The Insurer. This Process Is Known As ________ -
✔✔Subrogation
A Condition Creating Or Increasing The Chance For Loss Is Known As A - ✔✔Hazard
Aviation Insurance Provides An Insured With Liability Protection While An Insured Is ________ -
✔✔In The Air Or On The Ground
Replacement Cost Less Depreciation Defines - ✔✔Actual Cash Value
All Of The Following Statements Are Correct Regarding The Duties Of An Insured Following A
Loss Except The Insured Must_______ - ✔✔Reimburse The Mortgagee For Its Interest In The
Damage Property
Personal Business Property Out In The Open Is Covered Under A Commercial Property Policy
Only While _______ - ✔✔Within 100 Feet Of The Described Premises
A Short Term Proof Of Insurance Coverage Provided To An Applicant Until A Policy Can Be
Produced Is Known As A(N)_____ - ✔✔Binder
What Is The Primary Difference Between A Claims-Made And Occurrence Form Of A CGL Policy?
- ✔✔The Claims Made Policy Provides Coverage For Claims First Made During The Policy
Period
If A Neighbor Accidentally Drives His Vehicle Into The Insureds Fence, This Would_______ -
✔✔Be Covered Under The Broad Form-Dwelling Policy
, Uninsured Motorist Coverage In An Auto Policy Provides Payments For Which Of The Following?
- ✔✔Bodily Injury To The Insured.
In Which Of The Following Instances Would Coverage Be Triggered Under A Claims Made Form?
A. When A Claim Is Reported And Filed
B. When A Covered Employee Is Injured On The Job
C. When Bodily Injury To Others Occurs Following A Retroactive Date, If Any
D. When Injury Or Damage Occurs During The Policy Period - ✔✔When A Claim Is Reported
And Filed
Which One Of The Following Is NOT An Element Of Insurability - ✔✔Risk Of Loss Is A
Speculative Risk
What Part Of An Insurance Policy Personalizes The Policy As To Whom And What Are Insured? -
✔✔Declarations
Each Of The Following Is Covered Under A Commercial Property Policy EXCEPT
A. Merchandise
B. Outdoor Curbside Signs
C. Fixtures
D. Furniture - ✔✔Outdoor Curbside Signs
The Owner Of A Laundromat Who Dry-Cleans Clothing Belongs To Others Would Purchase
Which Of The Following - ✔✔Bailee Policy
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