General Insurance Agent Practice Questions With Answers

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1. An accident is a specific, sudden and unforeseen event that results in damage.

Explanation

Chapter 2 

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About This Quiz
General Insurance Agent Practice Questions With Answers - Quiz

Are you a general insurance agent, or do you want to become one? If so, check out these practice questions with answers and make your understanding better regarding this concept. All questions are from the latest syllabus and cover general insurance all topics. These agents sell insurance products to othe... see moreinsurance brokers or agents and then sell these products to individuals or companies. Shall we begin the quiz now? Play it out and try to learn everything if possible.
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2. Installing an ADT alarm system in your home is an example of which risk management technique?

Explanation

Chapter 2

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3. If an agent lies to a client about the policy's terms and conditions, they may be found guilty of:

Explanation

Chapter 1 

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4. The type of insurance that allows a primary insurer to transfer their losses to another is called:

Explanation

Chapter 1

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5. Lieutenant Insurance Company guarantees in their commercials that you "WILL" save 20% by switching to their company. Several customers have complained that they did NOT save 20% by switching to the Lieutenant Insurance Company. The Lieutenant Insurance Company could be found guilty of:

Explanation

Chapter 1

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6. An insurance company falls under which status when doing business in a state where they were incorporated?

Explanation

Chapter 2

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7. Which one of the following would be considered a morale hazard?

Explanation

Chapter 2

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8. Which one of the following would be considered persons insured under an insurance policy?

Explanation

The 17 year old child of the insured that is unlicensed would be considered a person insured under an insurance policy because they are a family member of the insured.

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9. When an insured is returned to the same financial condition after the loss or made whole again, this is referred to as

Explanation

Chapter 2

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10. Which one of the following best describes the homeowner's clogged dryer vents?

Explanation

The homeowner's clogged dryer vents can be described as a hazard. A hazard refers to a potential source of danger or harm. In this case, the clogged dryer vents pose a risk of fire hazard due to the accumulation of lint and restricted airflow. This can lead to overheating and potentially cause a fire. Therefore, the clogged dryer vents can be considered a hazard that needs to be addressed to ensure safety.

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11. Insurance is

Explanation

Chapter 2

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12. Which of the following will only cover perils listed on the policy?

Explanation

Chapter 2

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13. The Insurance Commissioner is empowered to

Explanation

Chapter 1

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14. The directive that states the violation an agent committed requiring them to stop the illegal activity is called 

Explanation

A Cease and Desist Order is a directive that is issued by a regulatory agency or a court to an individual or organization involved in illegal activities. It requires them to immediately stop the specified illegal activity. This order is used to prevent further harm or damage caused by the violation and is an official warning that legal action may be taken if the activity continues.

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15. The insured sustained a large amount of damage to their living room from a candle that was accidentally knocked over by the cat. Fire, also known as the cause of loss, would be considered a/an

Explanation

Chapter 2

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16. An insurer operating in a state where they were not incorporated is called:

Explanation

Chapter 2

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17. How many days does an agent have to report a change in residency to the Commissioner?

Explanation

Chapter 1

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18. Lightning hits a power line causing it to catch fire and fall on the house. The house catches fire and burns down to the ground. The insured must stay in a hotel while the house is being rebuilt. Which one of the following is the indirect loss?

Explanation

Chapter 2

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19. Which of the following is NOT a nonresident agent requirement in Massachusetts?

Explanation

Chapter 1

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20. The term that identifies an agent who is authorized to represent more than one insurance company is known as

Explanation

Chapter 2

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21. Which marketing distribution uses captive agents and is restricted to representing only a single insurer?

Explanation

Chapter 2

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22. Which of the following would be considered real property?

Explanation

Chapter 2

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23. An individual appointed by an insurer to sell, solicit, or negotiate policies on its behalf is known as

Explanation

Chapter 1

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24. How much notice needs to be given to the agent by the Commissioner for examining their records?

Explanation

Chapter 1

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25. Risk is

Explanation

Chapter 2

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26. When an individual purchases insurance as a result of threats made by the agent, they have violated the:

Explanation

Chapter 1

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27. Which of the following is a federal law that regulates the collection, distribution and use of the consumer's credit information for underwriting purposes?

Explanation

Chapter 1 

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28. The term that describes an agent exclusively representing only one insurer is called:

Explanation

Chapter 2

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29. Mutual insurers are:

Explanation

Chapter 2

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30. Overall authority of an insurance agent includes:

Explanation

Chapter 2

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31. When an agent is acting within the scope of authority granted in an agency contract, the insurer:

Explanation

Chapter 2

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32. Which one of the following is NOT true about insurable interest?

Explanation

Chapter 2

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33. Which of the following is NOT correct regarding agent appointments?

Explanation

Chapter 1

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34. Dawn owns a shoe store and a fire occurs because of an overheated extension cord. The fireman come to put the fire out and they break the front windows to get the hose into the store. Dawn arrives to see her shoes displayed in the front window ripped by the glass and soaking wet. The shoes ripped by the glass is an example of a/an

Explanation

Chapter 2

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35. A deductible is an example of which risk management technique?

Explanation

Chapter 2

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36. Reinstatement of a terminated license for nonrenewing or not complying with continuing education may be done:

Explanation

Chapter 1

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An accident is a specific, sudden and unforeseen event that results in...
Installing an ADT alarm system in your home is an example of which...
If an agent lies to a client about the policy's terms and...
The type of insurance that allows a primary insurer to transfer their...
Lieutenant Insurance Company guarantees in their commercials that you...
An insurance company falls under which status when doing business in a...
Which one of the following would be considered a morale hazard?
Which one of the following would be considered persons insured under...
When an insured is returned to the same financial condition after the...
Which one of the following best describes the homeowner's clogged...
Insurance is
Which of the following will only cover perils listed on the policy?
The Insurance Commissioner is empowered to
The directive that states the violation an agent committed requiring...
The insured sustained a large amount of damage to their living room...
An insurer operating in a state where they were not incorporated is...
How many days does an agent have to report a change in residency to...
Lightning hits a power line causing it to catch fire and fall on the...
Which of the following is NOT a nonresident agent requirement in...
The term that identifies an agent who is authorized to represent more...
Which marketing distribution uses captive agents and is restricted to...
Which of the following would be considered real property?
An individual appointed by an insurer to sell, solicit, or negotiate...
How much notice needs to be given to the agent by the Commissioner for...
Risk is
When an individual purchases insurance as a result of threats made by...
Which of the following is a federal law that regulates the collection,...
The term that describes an agent exclusively representing only one...
Mutual insurers are:
Overall authority of an insurance agent includes:
When an agent is acting within the scope of authority granted in an...
Which one of the following is NOT true about insurable interest?
Which of the following is NOT correct regarding agent appointments?
Dawn owns a shoe store and a fire occurs because of an overheated...
A deductible is an example of which risk management technique?
Reinstatement of a terminated license for nonrenewing or not complying...
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