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Fire & Casualty Practice Exam 5

71 Questions  I  By Pchinna
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1.  A home is damaged minutes after an earthquake, first by fire, then by fuel pipes bursting and causing an explosion.  Under an HO-3 form:
A.
B.
C.
D.
2.  All of the following are covered by protection and indemnity insurance, except:
A.
B.
C.
D.
3.  After a collision loss, the personal auto policy requires the insured to:
A.
B.
C.
D.
4.  What additional coverage does a DP-2 have compared to DP-1?
A.
B.
C.
D.
5.  The commercial property policy part - " causes of loss - borad form " includes an exclusion for "concurrent causation". The effect of this exclusion is
A.
B.
C.
D.
6.  Coverage under a comprehensive personal liability policy or a homeowner's section 2 extends
A.
B.
C.
D.
7.  What coverage is available under the extended non-owned liability coverage ?
A.
B.
C.
D.
8.  Under an unendorsed personal auto policy, what coverage is available for personal effects ?
A.
B.
C.
D.
9.  Which of the following would be considered special damages ?
A.
B.
C.
D.
10.  Which of the following describes the act of making a false entry in any book, statement or report of any insurer with the intent to deceive any agent, examiner lawfully appointed to examine the affairs of the insurer ?
A.
B.
C.
D.
11.  If the named insured is not the owner of the building, improvements and betterments are covered under the
A.
B.
C.
D.
12.  Which of the following is an example of loss prevention?
A.
B.
C.
D.
13.  All of the following are areas that market regulation covers, except:
A.
B.
C.
D.
14.  An agent who diverts premium dollars for the agent's own use is guilty of
A.
B.
C.
D.
15.  Which of the following is covered by a building and personal property coverage form (BPP) ?
A.
B.
C.
D.
16.  What is the limit per day for transportation expenses in under -an unendorsed personal auto policy
A.
B.
C.
D.
17.  Which of the following collapse losses would be covered under an HO-3
A.
B.
C.
D.
18.  What is one of the principle rating factors under Proposition 103 allowed for personal auto policies ?
A.
B.
C.
D.
19.  When does a personal auto policy require the insured to notify the police?
A.
B.
C.
D.
20.  What gives an insured party the right to seek compensation if it is proven that another person with negligence contributed to the injury ?
A.
B.
C.
D.
21.  If an individual does not own an auto nor have a regular use of an auto, what endorsement to a personal auto policy could be used to properly protect that individual ?
A.
B.
C.
D.
22.  If an insured discovers an occurrence 75 days after the expiration of a claims-made commercial general liability policy, what must the insured have in order for the loss to be covered ?
A.
B.
C.
D.
23.  An insured has a personal auto policy but does not pay the initial insurance premium when it is due.  The insurer cancels the policy for non-payment.  How many days notice must the insurer give ?
A.
B.
C.
D.
24.  What coverage is available under the miscellaneous type vehicle endorsement
A.
B.
C.
D.
25.  When an employer has a choice to purchase workers compensation insurance from a state fund or a private carrier, the state fund wold be called
A.
B.
C.
D.
26.  Which of the following is considered an intentional tort?
A.
B.
C.
D.
27.  Which of the following statements is true regarding compensatory damages?
A.
B.
C.
D.
28.  In order to receive the principal sum benefit for death from a disability income policy, death must occur
A.
B.
C.
D.
29.  What is the main purpose of Tort law?
A.
B.
C.
D.
30.  Under the business income coverage form, extra expenses are
A.
B.
C.
D.
31.  Under the commercial building and personal property coverage extensions, property off-premises is covered while the property is located:
A.
B.
C.
D.
32.  What coverage is available under the named non-owner coverage endorsement ?
A.
B.
C.
D.
33.  Which of the following statements is true regarding insurers with admitted status in California ?
A.
B.
C.
D.
34.  All of the following are listed on a commercial general liability declarations page, except
A.
B.
C.
D.
35.  What is one of the main factors that the insurance Commissioner uses while determining whether a rate is excessive or unfairly discriminatory
A.
B.
C.
D.
36.  A physician may have misdiagnosed a patient for terminal cancer.  what type of insurance would protect the physician for this type of mistake ?
A.
B.
C.
D.
37.  All of the following are requirements for a notice by mail to an insured by an insurer, except
A.
B.
C.
D.
38.  Surplus lines brokers
A.
B.
C.
D.
39.  The inspections and surveys condition of a commercial package policy is important to the insurer for all of the following reasons, except
A.
B.
C.
D.
40.  Insurance which covers ship owners against vicarious liability claims due to operating the insured vessel is:
A.
B.
C.
D.
41.  What is one way in which the HO-2, HO4 and HO-6 are similar.
A.
B.
C.
D.
42.  Under an unendorsed personal auto policy, transportation expense coverage applies to
A.
B.
C.
D.
43.  The term "assignment" refers to
A.
B.
C.
D.
44.  An organization will cease to exist as an entity eligible to hold a license for all of the following reasons, except:
A.
B.
C.
D.
45.  Which advisory organization(s) develop forms for the standard market
A.
B.
C.
D.
46.  Which of the following is eligible for a business owner's policy
A.
B.
C.
D.
47.  Why is the examination of books and records condition important in a commercial policy ?
A.
B.
C.
D.
48.  Which coverages are typically provided in a boat owner's policy ?
A.
B.
C.
D.
49.  The term "subrogation" refers to
A.
B.
C.
D.
50.  A commercial general liability (CGL) policy is quite broad in scope.  However, there are a substantial number of exclusions. Three of the four following loss exposures are excluded.  Identify the loss exposure that is covered by an unendorsed CGL.  Property damage or liability arising out of
A.
B.
C.
D.
51.  The insurer's right to recover its claim payment to an insured from a negligent 3rd party is known as:
A.
B.
C.
D.
52.  Which of the following perils is covered by a causes of loss - basic form
A.
B.
C.
D.
53.  A person can base his/her claim for legal liability on the basis of all the following, except:
A.
B.
C.
D.
54.  What will happen when an agent's appointment to an insurance company is terminated and the agent has no other appointments with any other insurance company ?
A.
B.
C.
D.
55.  Which of the following is a common policy condition for a commercial package policy ?
A.
B.
C.
D.
56.  The watercraft endorsement on a homeowner's extends coverage for
A.
B.
C.
D.
57.  All of the following are typical exclusions in an inland marine policy, except:
A.
B.
C.
D.
58.  Which homeowners form is best for use on a brand-new single family dwelling
A.
B.
C.
D.
59.  All of the following statements concerning business owner's policies are true, except:
A.
B.
C.
D.
60.  An insurer's loss reserve for a claim is
A.
B.
C.
D.
61.  What steps need to be taken to terminate a licensee's license that is in the possession of an employer
A.
B.
C.
D.
62.  If an insured purchases an all-terrain vehicle (ATV), what endorsement can be added to the personal auto policy to insure the vehicle ?
A.
B.
C.
D.
63.  Which of the following is considered special damages ?
A.
B.
C.
D.
64.  Which of the following is an insurer's option when making a loss settlement with the insured under a personal auto policy ?
A.
B.
C.
D.
65.  What is the purpose of the inspections and surveys condition of the commercial package policy?
A.
B.
C.
D.
66.  Every admitted insurer in the state of California is required to maintain a unit or disivion to investigate which of the following ?
A.
B.
C.
D.
67.  A health insurance deductible is
A.
B.
C.
D.
68.  If the vacancy permit endorsement is added to a building and personal property coverage form, the vacancy condition under the basic policy is:
A.
B.
C.
D.
69.  What causes of loss are covered under the business income coverage form ?
A.
B.
C.
D.
70.  The ordinance or law exclusion/limitation in a homeowner's policy may cause a gap in coverage in which of the following situations?
A.
B.
C.
D.
71.  All of the following are mandatory coverages of a business owner's policy, except:
A.
B.
C.
D.
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