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Idaho Casualty UPDATED ACTUAL Questions and CORRECT Answers
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Idaho Casualty UPDATED ACTUAL Questions and CORRECT Answers another name for insurance agent is: principal producer broker recorder - CORRECT ANSWER- producer

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  • November 22, 2024
  • 66
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Idaho Casualty
  • Idaho Casualty

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Idaho Casualty UPDATED ACTUAL
Questions and CORRECT Answers
another name for insurance agent is:


principal
producer
broker

recorder - CORRECT ANSWER✔✔- producer


another name for insurer is:


principal
producer
broker

policymaker - CORRECT ANSWER✔✔- principal


The Broad Form Products Coverage endorsement in commercial auto policies does which of
the following?


Adds property coverage
Removes the defective products exclusion
Adds the defective products exclusion

Removes property coverage - CORRECT ANSWER✔✔- Removes the defective products
exclusion


All of the following conditions must exist for injury or damage to be included in the products
and completed operations hazard of a commercial general liability policy EXCEPT


The injury or damage must occur after the insured has released physical possession of the
product to another.

,The injury or damage must occur within 90 days after the insured's work is completed.


The injury or damage must occur away from the inured premises.


The injury or damage must arise out of the insured's product or work. - CORRECT
ANSWER✔✔- The injury or damage must occur within 90 days after the insured's work is
completed.


*The products and completed operations hazard included injuries or damage that occur after
the insured has completed its job and left the site, or relinquished control of t product it
manufactured or sold. There is no time limit on the injury or damage.


CGL Coverage B (Personal and Advertising Injury) will cover


An offense committed by an insured whose business is advertising.


Inadvertent injury to others caused in the course of advertising the insured's product.


The failure of goods o conform to advertised quality or performance.


Oral or written publication of material the insured knows is false. - CORRECT
ANSWER✔✔- Inadvertent injury to others caused in the course of advertising the insured's
product.


An applicant knowingly fails to communicate information that would help an underwriter
make a sound decision regarding coverage. This is an example of:


Concealment
Misrepresentation
Fraud

Breach of warranty - CORRECT ANSWER✔✔- Concealment

,When a parent is required to pay for damages caused by his or her children, this is an
example of


Strict liability
Intervening cause
Assumption of risk

Vicarious liability - CORRECT ANSWER✔✔- Vicarious liability


Which of the following statements is true regarding a mobile equipment endorsement in
commercial auto policies?


Mobile equipment is covered for property insurance.
The endorsement is available for additional premium.
The endorsement is automatic.
Liability coverage is not provided on equipment that is being towed. - CORRECT
ANSWER✔✔- The endorsement is available for additional premium


What is the legal defense that can be used in most states in which proportionate damages may
be awarded when both the plaintiff and defendant were negligent?


Proximate cause
Comparative negligence
Relative degree of damage statute

Contributory negligence - CORRECT ANSWER✔✔- Comparative negligence


Who are the parties to a bond?


Principal, obligee, and guarantor
Insured and agent
Surety and custodian

Contractor, broker, and dealer - CORRECT ANSWER✔✔- Principal, obligee, and guarantor

, Which of the following statements would be an example of a product liability claim?


The insured's product has to be recalled because of an expiration date.


Faulty packaging of a cereal caused spoilage that resulted in someone getting sick.


An insured, while delivering product to a customer hits another car with the delivery truck
causing bodily injury and property damage


Someone tampers with the insured's product causing the insured to have to recall all products
that are on the shelf. - CORRECT ANSWER✔✔- Faulty packaging of a cereal caused
spoilage that resulted in someone getting sick.


The court finds that both parties of the case are negligent. The extent of negligence is
determined for each party, and the amount of damages awarded are adjusted accordingly. This
illustrates the process of:


Comparative liability
Comparative negligence
Proportional negligence

Proportional liability - CORRECT ANSWER✔✔- Comparative negligence


Which of the following entities protects policyowners, insureds, and beneficiaries under
insurance contracts when insurers fail to perform contractual obligations due to financial
impairment?


Consumer Protection Agency
Insurance Guaranty Association
Insurance Consumer Protectorate

Insurance Solvency Association - CORRECT ANSWER✔✔- Insurance Guaranty
Association

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