Exam (elaborations)
Mastery Exam Questions and Correct Answers
- Course
- Institution
Mastery Exam Questions and Correct Answers
[Show more]
Content preview
Mastery ExamAn Insurance company may examine and audit an insured's books and records for up to...
a. 5 years
b. 3 years
c. 4 years
d. 8 years - Answer-b. 3 years
Under the building and personal property coverage form, the duties in the event of loss condition states
that after a loss, the insured must send a signed, sworn statement to the insurance company within...
a. 90 days
b. 60 days
c. 30 days
d. 45 days - Answer-c. 30 days
The golf shop, located at the golf course, is open all year. However, the highest levels of inventory are
carried between May and September. What is the best way to insure the increase in coverage for those
months?
a. value reporting form
b. peak season endorsement
blanket policy
,business income and extra expense endorsement - Answer-b. peak season endorsement
Restaurants and bars present a risk exposure for bodily injury and property damage for which the
insured may become liable as a result of contributing to a person's intoxication. The coverage these
businesses require is...
a. commercial general liability
b. liquor liability insurance
c. premises liability insurance
d. products liability insurance - Answer-b. liquor liability insurance
If an insurer violates any section of the insurance code, what can the Commissioner issue to stop the
insurer from committing the violation?
a. notice of a hearing
b. cease and desist order
c. suspension order
d. notice of violation - Answer-b. cease and desist
which of the following coverages is included in the homeowners policy but is not included in an
unendorsed dwelling policy?
a. other structures
b. dwelling
c. personal property
d. liability - Answer-d. liability
which of the following commercial general liability coverages would protect a policyholder from
assumed liability under a construction contract to install water lines for a city?
a. completed operations
, b. premises liability
c. contractual liability
d. independent contractors - Answer-c. contractual liability
commercial umbrella liability policies provide coverage...
a. when the underlying contract has been nonrenewed
b. when a loss is excluded under the underlying policy but not excluded under the umbrella
c. only for a commercial auto liability
d. for usual and everyday types of exposures - Answer-b. when a loss is excluded in the underlying
policy but not excluded under the umbrella
all of the following perils are covered under the basic commercial property causes of loss form except...
a. falling objects
b. vandalism
c. fire
d. sprinkler leakage - Answer-a. falling objects
all statements and descriptions in any application for an insurance policy by an insured are,,,
a. representations and not warranties
b. neither warranties nor representations
c. warranties and not representations
d. both warranties and representations - Answer-a. representations and not warranties
which of the following could be scheduled under a miscellaneous type vehicles endorsement to the
personal auto policy?
a. taxi
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Zanaya. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now