Tentamen (uitwerkingen)
NC Casualty 2024/2025 already graded A+
- Vak
- Instelling
NC Casualty 2024/2025 already graded A+
[Meer zien]Voorbeeld 4 van de 54 pagina's
Voorbeeld 4 van de 54 pagina's
In winkelwagen
In winkelwagen
gesponsord bericht van onze partner
Verkoper
Volgen
Ashley96
Ontvangen beoordelingen
Voorbeeld van de inhoud
NC CasualtyC. A customer who attended a promotional dinner party - ANSWhich of the following is eligible
to receive CGL payments for medical expenses in the event of injury at the insured's premises?
A. The named insured
B. An employee injured while playing basketball for a company-sponsored team
C. A customer who attended a promotional dinner party
D. A contractor who was hired to perform work for the insured
Property Damage - ANSWhen Martha returned to her car after class, another driver who left no
name or phone number had damaged the rear bumper. Damage to the car was $400. Under
what coverage under her PAP could she collect?
Competition - ANSIn NC, employers have several options to choose from in purchasing Workers
comp insurance. This is utilizing what method?
45 days prior to the effective date - ANSThe liberalization clause of a Businessowner's policy
automatically applies favorable expansions of coverage, for which a premium is not charged, if
the changes are made during the policy period or within what time period?
$15,000 - ANSTo become a broker in NC requires a bond of what amount?
30 days - ANSIf an agent's appointment or license is cancelled by an insurer, the insurer must
give written notice to the Commissioner within
D. Clerical workers - ANSEach of the following classes of employment are exempt from
compulsory Workers Comp requirements EXCEPT:
A. Agricultural workers
B. Domestic workers
C. Farm workers
D. Clerical workers
B. Make insurance regulations (law) - ANSThe Commissioner may do all of the following
EXCEPT:
A. Examine the books and records of agents and insurers
B. Make insurance regulations (law)
C. Promulgate insurance law
D. Administer oath
15 - ANSWhen insurance rates come under the jurisdiction of North Carolina Rate Bureau and
an insurer wishes to change those rates, the insured must be given written notice of this change
at least how many days in advance?
,10 days advance notice for nonpayment of premium, 30 days notice for other reasons -
ANSWhen an insurer cancels a Commercial Package policy, it must give the insured
Garagekeepers coverage - ANSThe owner of a parking lot wants liability coverage for damage
to vehicles left in her custody. What is the best coverage?
Bodily injury caused by defect in a product - ANSWhich of the following situations would be
covered by the products-completed operations sublines in the Commercial General Liability
Policy (CGL)?
Physical Damage - ANSWhat is not covered through the NC Motor Vehicle Reinsurance
Facility?
B. a vehicle newly acquired by the named insured that has not been reported to the insurer -
ANSThe definition of an Uninsured Motorist (UM) under the Personal Auto Policy (PAP) includes
all of the following except:
A. a hit and run vehicle whose driver cannot be identified
B. a vehicle newly acquired by the named insured that has not been reported to the insurer
C. a vehicle to which no liability bond or insurance policy provides coverage at the time of the
accident
D. A vehicle insured by a company that is insolvent
$5,000 - ANSIf a person is found guilty of a violation for which an insurance license may be
suspended or revoked, the Commissioner may order the payment of restitution to any person
harmed by the violation and payment of up to what amount?
D. Honor the request of the Reinsurance Facility - ANSWhich of the following will not meet the
NC proof of financial responsibility laws?
A. Receiving certifications of self-insurance by depositing assets with the Department of Motor
Vehicles
B. Filing a bond acceptable to the DMV
C. Providing evidence of a valid automobile policy
D. Honor the request of the Reinsurance Facility
A. Property damage is between $1,800 and less than $3,000 - ANSWhich definition below best
describes an Intermediate accident?
A. Property damage is between $1,800 and less than $3,000
B. Property damage greater than $3,000 or BI
C. Property damage less than $1,800
D. Property damage between $1,000 and $2,000
Documentation required by an insurer from an insured to substantiate the specifics of a claim -
ANSProof of Loss
,B. Object Definitions Form - ANSWhich one of the following is NOT one of the components that
required in all Commercial Package policies?
A. Coverage Parts
B. Object Definitions Form
C. Common Policy Conditions
D. Common Policy Declarations
January 1st following the year of election - ANSWhen does the Commissioner's term of office
begin?
All statements or descriptions in an application for insurance - ANSRepresentations
Required for all insurers writing auto insurance in NC, including domestic companies -
ANSMembership in the NC Motor Vehicle Reinsurance Facility is?
B. Charges incurred for renting a car when the insured's vehicle was disabled in a wreck -
ANSUnder the PAP, supplementary payments could provide payment for all of the following
EXCEPT:
A. court costs if a civil lawsuit is defended
B. Charges incurred for renting a car when the insured's vehicle was disabled in a wreck
C. A parking garage fee that the insured incurs while attending a deposition at an attorney's
office
D. lost wages the insured might suffer by attending court proceedings
B. Illegal parking in a fire lane - ANSAll of the following violations could result in surcharges
under the Safe Driver Incentive Plan EXCEPT:
A. Driving while impaired
B. Illegal parking in a fire lane
C. Speeding in excess of 15 mph over the limit
D. Death by vehicle
B. Denying coverage of the property - ANSWhich of following results of an application would be
considered an adverse underwriting decision?
A. Reinsuring the risk with another insurer
B. Denying coverage of the property
C. Charging a higher premium for property insurance due to exposure changes to the property
D. Providing for back-up protection through the Postassessment Guaranty Association
C. Issuing a policy that insures property for amounts greater than the value of the property -
ANSWhich of the following is legal concerning property insurance policies and business
practices?
A. Providing a 10-year policy renewal period
B. Listing the rates charged for specific types of property coverage
, C. Issuing a policy that insures property for amounts greater than the value of the property
D. Adjusting losses according to company rules not stated in the policy
D. Coverage is guaranteed - ANSAll of the following are true about a binder EXCEPT:
A. Temporary insurance
B. Proof of coverage
C. It is no longer needed once the policy has been issued
D. Coverage is guaranteed
A. Property damage to the named insured's residence if struck by the insured's vehicle -
ANSUnder the PAP, all of the following could be covered EXCEPT:
A. Property damage to the named insured's residence if struck by the insured's vehicle
B. Medical payments to an insured person if struck as a pedestrian
C. Repair of a window broken by a falling object
D. Theft of a vehicle
type of Commercial Crime form covers losses that are sustained during the policy period and
discovered either during the policy period or up to one year after the policy expires -
ANSOccurrence
amount it would take to replace property without deducting for depreciation - ANSReplacement
cost
Cost to replace property with new property of like kind and quality with depreciation. -
ANSActual Cash Value (ACV)
Prevents payment for all of a partial loss - ANSCoinsurance
80% - ANSMinimum amount of insurance required to avoid coinsurance
Covers loss of earnings of the business due to damage or destruction of property -
ANSBusiness Interruption
Covers buildings in the course of construction - ANSBuilder's Risk
Covers losses due to dishonest acts by employees - ANSFidelity Bond
Protects the business from financial loss due to damages caused by products, operations, or
employees - ANSCommercial General Liability (CGL)
A financial guarantee of your performance of a specific action - ANSSurety Bond
provides protection above the basic limits of liability coverage - ANSUmbrella Coverage
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper Ashley96. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €9,21. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 73091 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen