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Fred Loya Test 2024 with Questions Solved 100% with Correct Answers
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Fred Loya Test 2024 with QuestionsSolved 100% with Correct Answers
Which of the following best describes an unfair trade practice of defamation? - ✔
The reduction in quality, quantity or value of property is called - ✔Loss
Identify the section of the policy from which the excerpt was taken. "In this policy, an
"occurrence" will mean a loss that develops over time as well as sudden and accidental losses. -
✔
In comparison to consumer reports which of the following describes a unique characteristic
of investigative consumer reports? - ✔
For how long must the Insurance commissioner have new forms in his possession before they
can be used? - ✔60 days
A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but
only if the customer purchases a life insurance policy from the bank in the amount of the loan.
This is an example of - ✔coercion
What is not included in the conditions section of a policy? - ✔
, Officers who manage stock insurance companies are - ✔
Which of the following is NOT a consideration in a policy? - ✔
Who receives a dividend from a mutual insurer? - ✔the insured
Which of the following was created to pay benefits due to insureds after their insurance
companies have been declared insolvent? - ✔Property and Casualty Insurance
Guaranty Association
In property insurance, actual cash value is defined as which of the following? - ✔
An agent tried to sell insurance over the phone to an applicant who appears to be confused,
but is eventually able to give enough information for the application to be completed. After
the policy was issued, the agent talked to the Insured's family, and they explained that the
insured was recovering from a surgery and might have been under the influence of medication
at the time of application. Which of the following is true? - ✔The policy may be voided if it
can be proven that the applicant was not capable of making a buying decision at the time of
the application.
A hard to place risk, written with a non admitted carrier is known as what? - ✔Surplus lines
After a claim, the insured must do all of the following EXCEPT - ✔Leave property
unmoved until photos of damages can be taken.
The commissioner may examine any carrier's records every - ✔5 years or as often
as necessary
Which of the following persons would be required to hold a producer license? - ✔A
person who negotiates insurance contracts.
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