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Personal Lines Broker/Agent Exam Questions And Answers With Verified Solutions Already Passed!!!
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Personal Lines Broker/Agent Exam Questions And Answers With Verified Solutions Already Passed!!!
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Personal Lines Broker/Agent ExamQuestions And Answers With Verified
Solutions Already Passed!!!
Which of the following describes an insurance company that meets the insurance
departments standards and is authorized to do business in the state? -
ANSWERS✔✔Admitted
Which of the following is a form of insurance organization that consists of
members who share losses with each other? - ANSWERS✔✔Reciprocal
What policy provision specifies a certain value that will meet the coinsurance
requirement? - ANSWERS✔✔Agreed Value
Which of the following terms means giving something of value, not specified in
the policy, to induce a customer to buy insurance? - ANSWERS✔✔Rebating
Forgery or alteration coverage pays for losses from forgery or alteration of the
following EXCEPT: - ANSWERS✔✔Instruments made by or drawn upon an
employee's account.
Which of the following ways did the Violent Crime Control and Law Enforcement
Act expand federal laws? - ANSWERS✔✔It prohibited anyone in insurance
convicted on a state or federal felony involving dishonesty or breach of trust
without a consent waiver from the Commissioner.
The Fair Credit Reporting Act permits consumer reporting agencies to include
applicant information about bankruptcies MORE than 10 years old under which of
, the following circumstances? - ANSWERS✔✔The applicant is seeking a
transaction greater than $150,000.
How many business days does a business have to honor a requested email to opt-
out according to the 2003 CAN-SPAM Act? - ANSWERS✔✔10
Which of the following is one of the ways the Gramm-Leach Bliley Act affects the
insurance industry? - ANSWERS✔✔It establishes which insurance products banks
and bank subsidiaries may provide as principal.
The Terrorism Risk Act and the National Flood Insurance Program are similar by
providing which of the following? - ANSWERS✔✔Subsidiaries, loss sharing, or
excess coverage.
Mysterious disappearance in insurance refers to which occurrence? -
ANSWERS✔✔The disappearance of property without any explanation of what
happened.
All of the following are used by the courts to establish negligence EXCEPT: -
ANSWERS✔✔Policy exclusions
Which of the following BEST differentiates the terms vacant versus unoccupied? -
ANSWERS✔✔Vacant means the absence of people and property.
Which term BEST describes when the leather seats in the policyholder's car begins
to wear and tear? - ANSWERS✔✔Occurrence
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