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Fire & Casualty Practice Exam 5

71 Questions  I  By Pchinna
Fire & Casualty Practice Exam 5
Fire & Casualty Practice Exam 5 - For personal use only

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