Fire & Casualty Practice Exam 5

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