What Do You Know About Fire And Casualty Insurance? Trivia Quiz

Nothing, unless the injured party can prove the damages are substantial

Reasonable attorney fees and costs only

Damages for breach, reasonable attorney fees and costs

Damages caused by the breach only

An amendment

An express warranty

A policy provision

An implied warranty

The agent can transact insurance business if it is done with another agents approval

The agent can transact any insurance business for which the agent is licensed

The agent can still transact insurance business in CA, but not in any other state until it is reactivated

The agent cannot transact any insurance business for which a valid, active license is required

It warrants that an insured has not knowingly violated an ordinance or law

The insured may not remove or modify the effect of the exclusion

It reduces the coverage on any loss if the loss was caused by the insured violating the ordinance or law

It excludes that part of the loss resulting from the enforcement of a building ordinance or law

Increased expense of repairing property to appreciated assets

The extra expense that a business incurs to continue a business while damage to the premises are being restored

The loss of profit a business incurs when it is shut down after a loss by a covered peril

Payroll and other overhead incurred when a business is shut down after a loss

There is limited glass breakage coverage in both of the broad and special forms

There is limited glass breakage coverage in the basic form

No policy limits apply to glass breakage coverage in the special form, all named perils

There is no glass breakage coverage in the broad or special forms

Impartial

Unfairly discriminatory

Excessive

Inadequate

Actual cash value

Replacement amount

Stated amount

Market Value

7 days or less

10 days or less

2 days or less

14 days or less

Occurrence

Loss sustained

Claims made

Discovery

Commercial general liability

Malpractice coverage

Employer's liability

Errors and omissions coverage

The agent must become an employee of the company within 30 days ofpolicy issuance

Name the agent to the list of the company's approved agents

Send the agent an appointment approval notice within 30 days of policy issuance

Forward to the commissioner a notice of appointment within 14 days of receipt of application

The employee pays after the deductible is met

The plan pays after the deductible is met

The employer pays after the deductible

The spouses' insurance company pays after the deductible

Both policies respon on a pro-rate basis

Only the neighbor's policy provides coverage; there is no coverage by the driver's policy

The driver's policy is primaty and the neighbor's policy is excess

The neighbor's policy is primary and the driver's policy is excess

Dealer's used stock

Motor vehicles designed for highway use

Customer's equipment in for service

Dealer's new stock

Equal the anticipated loss per month

Meet the out-of-pocket expense during the policy period

Exceed a specified limit in a set period of time

Average the maximum amount stated on the master policy

To maintain the correct limits of coverage without over or under insuring when the value of volume of the property varies during the policy term

To report losses and adjust insurance in force to conform

When the insured's premises are subject to periodic safety inspections

To establish a guaranteed amount of insurance based upon a report of values submitted the beginning of the policy term

The growing population

Employers who fail to secure the payment of workers compensation as required by law

Under-reported payroll by employers

Fraudulent claims

Personnel loss exposure

Personal property loss exposure

Personal loss exposure

Liability loss exposure

The source of investment funds

Retention of the loss by the insured

Redemption of the financial uncertainity of the insured

Payment for the cost of covered losses

Personnel loss exposure

Personal loss exposure

Indirect loss exposure

Liability loss exposure

When the structure is being renovated as the result of a fire

When the Insured's operation is halted due to a strike

When there is insufficient business personal property present to conduct customary operations

When less that 31% of the total building space is rented to others or in use by the insured

Tangible losses

Indirect losses

Intangible losses

Direct losses

Older truck cargo floater

Annual transit policy

Contract's equipment floater

Installment sales floater

The producer is an insurance solicitor

It is always a violation, no matter what type of producer

The producer is dually licensed in at least two states

The producer is a surplus lines broker