Compliance Quiz #5 (5/15/14)
- 1.If an agency declares prior insurane information and indicates the customer owns property, what additional documentation is required?
- A.
Proof of Homeownership
- B.
Property CCDB hit validating ownership of property
- C.
No additional documentation is required
- D.
A signed letter from the customer stating they own the property.
- 2.True or False: When making changes to the new business PQB, a letter from the prior carrier's agent will be acceptable.
- A.
True; A letter from the prior carrier's agent is acceptable.
- B.
False; Acceptable documentation must be obtained from the prior carrier Claims Department, Underwriting or Customer Service
- 3.If a husband, wife and son all live in the same household, an Allstate agent can write the son's solely-owned vehicle on the parent's policy.
- A.
Yes, as long as the son is under the age of 30.
- B.
No, the son must be listed on his own Allstate policy
- C.
Yes, but only if the son is over 18 years of age
- D.
Yes, as long as the son is enrolled in Drive Wise.
- 4.An AFCIC auto policy can be re-written into a new AFCIC auto policy.
- A.
No
- B.
Yes, only if the customer qualifies for a better rate
- C.
Yes, if the customer wishes to change package plans
- D.
Yes, only if the customer initiates the request.
- 5.True or False: You may reorder the CR (Consumer Report) on an application as many times as you would like when quoting a policy.
- A.
True, duplicate hits on the CR do not affect POSIS scores.
- B.
False, this causes a duplicat hit which will reflect on your POSIS score
- 6.If an agency is selected for a POSIS review, they are in the bottom _____% of agents in the region.
- A.
2-3
- B.
10
- C.
5
- D.
1-2
- 7.It is OK to delete a driver on an auto policy when: (Choose all that apply)
- A.
The driver is insured with another carrier. Narrative must include the new insurer and policy number.
- B.
The driver is out of household and you have a new PO Box number
- C.
The driver has been staying at Grandma's house for the last week.
- D.
The driver voluntary surrendered their license due to poor eyesight.
- E.
The driver flunked English class and his/her parents took away driving privileges.
- 8.Where can you find out if a customer qualifies for a Standard Line 10 auto policy based on their driving record?
- A.
Rules and Rates
- B.
Risk Managment Policies
- C.
Line 10 Auto Policy Jacket
- D.
There are no driving record based guidelines for Line 10 auto.
- 9.On a homeowner's policy, the RMBC will only pursue for Insurance to Value (ITV) when the difference between the replacement cost on the policy and the inspector's replacement cost is _____% or greater
- A.
10
- B.
50
- C.
5
- D.
100
- 10.Is Allstate required to send a point-of-sale FCRA notice when a quote is created in the system?
- A.
Yes; but only when it is a standard Line 10 auto quote.
- B.
It depends on the Pre-Qualifying Business (PQB) results returned
- C.
Yes; FCRA notices are sent with every quote.
- D.
No; if you are able to offer the consumer a quoted (i.e. price) in a standard company, no point-of-sale FCRA notice is sent, regardless of whether the policy is written.
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