FOI Final Exam Review (Practice) 100+
Questions with Definitive Solutions / 2025.
Terms in this set (101)
The majority of insurance private insurers (ch. 1)
business in Canada is
transacted by:
General Insurance life insurance
involves all of the
following types of (property, automobile, liability)
insurance, except one.
Pick the exception. (ch. 1)
The definition of Insurance is in the Insurance Act of each province
found;
(ch.1)
The amount of indemnity is immediately prior to the loss
determined by the value of
the insured property;
(ch.1)
Brokerage owners are; self-employed
(ch.1)
,Which of the following is not manitoba public insurance
an example of a private
insurer
(intact, portage, wawanesa)
(ch.1)
void or voidable
When one of the eight
elements of an insurance
contract are not present, the (ch.2)
contract may be;
Insurance companies use all telephone change log
of the following documents
to make changes in the
(endorsement or rider, floater)
insurance contract, except
one. Pick the exception.
(ch.2)
Risks people face fall into financial risk
one of the following (personal, liability, property)
categories, except one.
Pick the exception. (ch.2)
None of the following seniors
people have the legal
capacity to contract,
(minors, mental incompetents, persons under the influence of
except one. Pick the
exception. alcohol)
(ch.2)
Which of the following McDonald's Landscaping Ltd.
entities have the legal
capacity to contract.
(ch.2)
Which of the following is the transfer
recommended form of
dealing with risk.
(retention, avoidance, controlling)
(ch.2)
, the insurer and the broker
Agency Agreements are
between
(ch.2)
The Removal Clause only the peril of fire will be insured at the new location
contains all of the
following conditions,
except one. Pick the (the property must be removed to prevent damage or further
exception. damage thereto, the coverage at the new location will be in
effect for 7 days or the unexpired team of the policy,
whichever is less, the amount of coverage at the new location
will be reduced by the amount used at the named location)
(ch.3)
Only the following an officer of the insurance company
person(s) have the
authority to change the
(ch.3)
policy.
The following three fire, lightning, explosion of natural, coal or manufactured gas
coverages are required on
every policy insuring loss by
fire. (ch.3)
When an insurer terminates the refund must be calculated on a short rate basis
a policy all of the following
conditions must be followed,
(15 days notice termination by registered letter must be
except one, for the
termination to be valid. provided to the insured, the 15 days notice begins on the
day following it is received at the post office to which it was
addressed, the refund must accompany the notice)
(ch.3)
Questions with Definitive Solutions / 2025.
Terms in this set (101)
The majority of insurance private insurers (ch. 1)
business in Canada is
transacted by:
General Insurance life insurance
involves all of the
following types of (property, automobile, liability)
insurance, except one.
Pick the exception. (ch. 1)
The definition of Insurance is in the Insurance Act of each province
found;
(ch.1)
The amount of indemnity is immediately prior to the loss
determined by the value of
the insured property;
(ch.1)
Brokerage owners are; self-employed
(ch.1)
,Which of the following is not manitoba public insurance
an example of a private
insurer
(intact, portage, wawanesa)
(ch.1)
void or voidable
When one of the eight
elements of an insurance
contract are not present, the (ch.2)
contract may be;
Insurance companies use all telephone change log
of the following documents
to make changes in the
(endorsement or rider, floater)
insurance contract, except
one. Pick the exception.
(ch.2)
Risks people face fall into financial risk
one of the following (personal, liability, property)
categories, except one.
Pick the exception. (ch.2)
None of the following seniors
people have the legal
capacity to contract,
(minors, mental incompetents, persons under the influence of
except one. Pick the
exception. alcohol)
(ch.2)
Which of the following McDonald's Landscaping Ltd.
entities have the legal
capacity to contract.
(ch.2)
Which of the following is the transfer
recommended form of
dealing with risk.
(retention, avoidance, controlling)
(ch.2)
, the insurer and the broker
Agency Agreements are
between
(ch.2)
The Removal Clause only the peril of fire will be insured at the new location
contains all of the
following conditions,
except one. Pick the (the property must be removed to prevent damage or further
exception. damage thereto, the coverage at the new location will be in
effect for 7 days or the unexpired team of the policy,
whichever is less, the amount of coverage at the new location
will be reduced by the amount used at the named location)
(ch.3)
Only the following an officer of the insurance company
person(s) have the
authority to change the
(ch.3)
policy.
The following three fire, lightning, explosion of natural, coal or manufactured gas
coverages are required on
every policy insuring loss by
fire. (ch.3)
When an insurer terminates the refund must be calculated on a short rate basis
a policy all of the following
conditions must be followed,
(15 days notice termination by registered letter must be
except one, for the
termination to be valid. provided to the insured, the 15 days notice begins on the
day following it is received at the post office to which it was
addressed, the refund must accompany the notice)
(ch.3)
