CFP 512 Practice Exam Questions with Correct Answers
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Course
2024/2025
Institution
2024/2025
CFP 512 Practice Exam Questions with
Correct Answers
What is the minimum for the deductible on a high deductible plan for an individual and a
family? - Answer-At least $1,200 for an individual and $2,400 for a family
Which of the following refers to the process of evaluating and classifying the...
insurance on a vehicle than collision coverage. Liability claims may be much higher than any
type of collision damage to a vehicle. Both Oscar and Judith are too young to consider long-term
care insurance at this time.
Preston called Joanna, an insurance broker, to obtain coverage on his 30-foot sailboat. Joanna
told him to send in a binder premium of $75. She told him that by doing so, he would be
covered and that he should go ahead and enjoy the boat. Joanna submitted an application for
insurance to Boater's Insurance Corp. for issuance of the policy. Boater's declined the coverage.
The day Joanna learned this, Preston called and told her a sudden wind caused him to lose
control of his boat. He then smashed into another sailboat, causing substantial damage to both
boats.
Who will be responsible for the damages?
A)
Boater's Insurance Corp. will have to pay the damages since it did not notify Preston that he was
not covered.
B)
Boater's will have to pay since Joanna collected a premium from Preston.
C)
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