Exam (elaborations)
AINS 102 Ch 4
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- AINS 102 Ch 4
- Institution
- AINS 102 Ch 4
Exam of 7 pages for the course AINS 102 Ch 4 at AINS 102 Ch 4 (AINS 102 Ch 4)
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AINS 102 Ch 4Marcus is buying insurance for his recent home purchase that will be covered
by a DP-3 policy. In reading his policy, which one of the following will Marcus
find is true?
Select one:
A. The DP-3 excludes coverage for theft of property that isn't part of the
covered structure.
B. The DP-3 provides named perils coverage for the dwelling and personal
property.
C. Marcus needs to add an endorsement to the DP-3 to cover personal
property damage.
D. Marcus wants to add a theft endorsement to his DP-3 to cover personal
property damage caused by burglars. - -A. The DP-3 excludes coverage for
theft of property that isn't part of the covered structure.
-The Jordans own a small ranch, and keep several ponies on the property for
their personal use. Mr. and Mrs. Jordan are concerned that their children's
friends and visiting relatives could be injured when riding the family's ponies.
What coverage would the unendorsed DP-3 policy provide for this loss
exposure?
Select one:
A. No coverage
B. Full coverage, up to the policy limits
C. Medical expenses only, up to $2,000
D. 20% of the Coverage A limit - -A. No coverage
-The "Write Your Own" (WYO) flood insurance program allows
Select one:
A. Participating Insurers write flood insurance using National Flood Insurance
Program guidelines.
B. Insureds to tailor flood coverage to their own specific needs.
C. Insureds to carry flood coverage regardless of the property's location.
D. Insureds to purchase flood coverage without an agent or representative. -
-A. Participating Insurers write flood insurance using National Flood Insurance
Program guidelines.
-With respect to new flood insurance policies and endorsements that
increase coverage on existing flood insurance policies, the National Flood
Insurance Program (NFIP) generally requires a waiting period of
Select one:
A. 14 days.
B. 30 days.
C. 60 days.
, D. 90 days. - -B. 30 days.
-The Personal Articles Standard Loss Settlement Form provides special form
coverage for
Select one:
A. Personal property, such as luggage, normally carried by tourists and
travelers.
B. Unscheduled personal property owned or used by the insured and
normally kept at the insured's residence. Examples include clothing and
household furniture.
C. Property normally kept in personally owned watercraft but not attached to
the watercraft.
D. Several classes of personal property with a specific amount of insurance
shown for each class of property or for each specific article. Examples
include jewelry and fine arts. - -D. Several classes of personal property with
a specific amount of insurance shown for each class of property or for each
specific article. Examples include jewelry and fine arts.
-Which one of the following types of personal inland marine forms is
designed for frequent travelers?
Select one:
A. Personal Articles Standard Loss Settlement Form
B. Personal Effects Form
C. Tenant Homeowners Form
D. Personal Property Form - -B. Personal Effects Form
-Which one of the following can be covered for physical damage and liability
coverage by a Personal Auto Policy (PAP)?
Select one:
A. Jet ski
B. Boat under 26 feet
C. Boat trailer
D. Boat being transported by personal auto - -C. Boat trailer
-Which one of the following is a warranty that is likely to be required by an
insurer that underwrites a boatowners or yacht policy?
Select one:
A. Uninsured boaters
B. Contractual liability
C. Seaworthiness
D. Transportation - -C. Seaworthiness
-Manuel has been sued and is awaiting a court judgment. In terms of legal
defense costs, which one of the following would most likely be covered under
a personal umbrella policy?
Select one:
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