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Fire & Casualty Practice Exam 5

71 Questions  I  By Pchinna
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1.  What is one of the principle rating factors under Proposition 103 allowed for personal auto policies ?
A.
B.
C.
D.
2.  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.
3.  Surplus lines brokers
A.
B.
C.
D.
4.  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.
5.  What coverage is available under the miscellaneous type vehicle endorsement
A.
B.
C.
D.
6.  What is the limit per day for transportation expenses in under -an unendorsed personal auto policy
A.
B.
C.
D.
7.  What causes of loss are covered under the business income coverage form ?
A.
B.
C.
D.
8.  All of the following are requirements for a notice by mail to an insured by an insurer, except
A.
B.
C.
D.
9.  Under the business income coverage form, extra expenses are
A.
B.
C.
D.
10.  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.
11.  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.
12.  The term "subrogation" refers to
A.
B.
C.
D.
13.  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.
14.  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.
15.  The term "assignment" refers to
A.
B.
C.
D.
16.  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.
17.  Which of the following is a common policy condition for a commercial package policy ?
A.
B.
C.
D.
18.  Which of the following perils is covered by a causes of loss - basic form
A.
B.
C.
D.
19.  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.
20.  What is the main purpose of Tort law?
A.
B.
C.
D.
21.  What coverage is available under the named non-owner coverage endorsement ?
A.
B.
C.
D.
22.  An insurer's loss reserve for a claim is
A.
B.
C.
D.
23.  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.
24.  Under the commercial building and personal property coverage extensions, property off-premises is covered while the property is located:
A.
B.
C.
D.
25.  Which homeowners form is best for use on a brand-new single family dwelling
A.
B.
C.
D.
26.  The watercraft endorsement on a homeowner's extends coverage for
A.
B.
C.
D.
27.  Which of the following would be considered special damages ?
A.
B.
C.
D.
28.  All of the following are typical exclusions in an inland marine policy, except:
A.
B.
C.
D.
29.  Which of the following collapse losses would be covered under an HO-3
A.
B.
C.
D.
30.  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.
31.  If the named insured is not the owner of the building, improvements and betterments are covered under the
A.
B.
C.
D.
32.  In order to receive the principal sum benefit for death from a disability income policy, death must occur
A.
B.
C.
D.
33.  Which of the following is covered by a building and personal property coverage form (BPP) ?
A.
B.
C.
D.
34.  What additional coverage does a DP-2 have compared to DP-1?
A.
B.
C.
D.
35.  Which of the following is considered an intentional tort?
A.
B.
C.
D.
36.  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.
37.  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.
38.  When does a personal auto policy require the insured to notify the police?
A.
B.
C.
D.
39.  Under an unendorsed personal auto policy, transportation expense coverage applies to
A.
B.
C.
D.
40.  Which of the following is considered special damages ?
A.
B.
C.
D.
41.  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.
42.  What steps need to be taken to terminate a licensee's license that is in the possession of an employer
A.
B.
C.
D.
43.  Which of the following is eligible for a business owner's policy
A.
B.
C.
D.
44.  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.
45.  The insurer's right to recover its claim payment to an insured from a negligent 3rd party is known as:
A.
B.
C.
D.
46.  After a collision loss, the personal auto policy requires the insured to:
A.
B.
C.
D.
47.  Which of the following is an example of loss prevention?
A.
B.
C.
D.
48.  What is the purpose of the inspections and surveys condition of the commercial package policy?
A.
B.
C.
D.
49.  Which coverages are typically provided in a boat owner's policy ?
A.
B.
C.
D.
50.  A health insurance deductible is
A.
B.
C.
D.
51.  What is one way in which the HO-2, HO4 and HO-6 are similar.
A.
B.
C.
D.
52.  Which of the following statements is true regarding insurers with admitted status in California ?
A.
B.
C.
D.
53.  Which of the following statements is true regarding compensatory damages?
A.
B.
C.
D.
54.  What coverage is available under the extended non-owned liability coverage ?
A.
B.
C.
D.
55.  All of the following are areas that market regulation covers, except:
A.
B.
C.
D.
56.  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.
57.  A person can base his/her claim for legal liability on the basis of all the following, except:
A.
B.
C.
D.
58.  Under an unendorsed personal auto policy, what coverage is available for personal effects ?
A.
B.
C.
D.
59.  All of the following are covered by protection and indemnity insurance, except:
A.
B.
C.
D.
60.  All of the following are listed on a commercial general liability declarations page, except
A.
B.
C.
D.
61.  An agent who diverts premium dollars for the agent's own use is guilty of
A.
B.
C.
D.
62.  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.
63.  Why is the examination of books and records condition important in a commercial policy ?
A.
B.
C.
D.
64.  Coverage under a comprehensive personal liability policy or a homeowner's section 2 extends
A.
B.
C.
D.
65.  All of the following statements concerning business owner's policies are true, except:
A.
B.
C.
D.
66.  All of the following are mandatory coverages of a business owner's policy, except:
A.
B.
C.
D.
67.  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.
68.  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.
69.  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.
70.  Insurance which covers ship owners against vicarious liability claims due to operating the insured vessel is:
A.
B.
C.
D.
71.  Which advisory organization(s) develop forms for the standard market
A.
B.
C.
D.
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