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20 Cards in this Set
- Front
- Back
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The commissioner obtains a restraining order against a person who has violated in insurance law. The person continues the violation for 10 days. How much will the person have to pay a fine of |
0 dollars |
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If reasonably possible a notice of proof of loss claim must be provided to the ensure within what period of time after the time required by the policy? |
12 months |
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Federal law makes it illegal for any individual convicted of a crime involving dishonesty or breach of trust to work in the business of insurance affecting intrested Commerce |
Without receiving written consent from an insurance regulatory authority |
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An agent includes a statement or omits a statement which when taken in context of the whole presentation May tend to mislead or deceive the person is addressed has committed |
Misrepresentations |
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The cancelation provision in a business owner's policy specifies all of the following except the method of refund of unearned premiums, the insureds cancelation requirements, the insurance company's cancelation requirements or the method of transferring the owner's rights |
The method of transferring owners rights |
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Which of the following DPs forms primarily insures a structure on an acv basis A. Dp 1 B. Dp 2 C. Dp 3 D. All forms |
Dp1 |
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Which of the following property clauses allows the extension of a major coverage applying to specific losses not already ensured The extensions of coverage clause, the additional coverage clause, the right of salvage clause or the pair and set clause |
Extensions of coverage |
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What is the Wisconsin insurance plans maximum limit of coverage against loss by burglary |
$15,000 |
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Insurance producers must ensure that contracts they recommend are in the best interest of the ensured this is called underwriting, suitability,Client protection or approval |
Suitability |
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Which of the following best describes the aleatory nature of an insurance contract ambiguities are interpreted in favor of the ensured, policies are submitted to the ensure on a take it or leave it basis, exchange of unequal values, only one of the party is being legally bound by the contract |
Exchange of unequal values |
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With and how many days of the original hearing and final issuance of an order may and aggrieved to person request a rehearing |
20 |
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A claim is considered overdue if it is not paid within how many days? |
30 |
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Insurance policies are not drawn up through negotiations and and ensured has little to say about his provisions. What contract characteristic does this describe? unilateral, conditional, personal or adhesion |
Adhesion |
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What is the minimum age to apply for an insurance license in Wisconsin? |
18 |
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What is the use of false misleading or deceptive statements to describe the terms or benefits of any policy? |
Misrepresentations |
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Which inland marine coverage condition States that payment of any claim will not reduce the limit of insurance except in case of a total loss on a scheduled item |
Reinstatement of limit |
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How much is covered under a mobile home owners policy if it is moved to protected from a covered peril |
$500 |
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What type of coverage does a homeowner's policy include that a dwelling policy does not |
Liability |
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What is an additional coverage that is covered by the broad causes of loss form |
Collapse |
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What is the limit for the forgery or alteration coverage in the business owners policy |
$2500 |
