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840 Cards in this Set

  • Front
  • Back
  • 3rd side (hint)

When a homeowners policy has been in effect for 60 days in New York, an insurer can cancel at anytime for any of the following reasons, EXCEPT:


A large loss has occurred

Which of the following statements is correct?



I. Unendorsed DP-2 and DP-3 settle all losses to personal property at actual cash value.



II. Unendorsed DP-2 and DP-3 settle all partial losses to dwellings at replacement cost if insured 80% to value.

Both I and II.

A public adjuster represents the interest of:

The insured

Which one of the following is considered part of the cowl?

Vent panel.

An insured has taken a physical inventory of his merchandise and discovers a substantial shortage of valuable stock. He turns a claim in to the insurance carrier that provides his coverage under a Businessowners Policy. What coverage is provided by the BOP for merchandise that has mysteriously disappeared?

No coverage would apply.

Mr. Cato carries a watercraft policy covering his 25 foot pontoon boat. The boat is powered by a 150 h.p. motor. He transports it to the Florida Keys and operates the craft 20 miles out to sea. The boat capsizes and is destroyed. What coverage would apply to the boat?

No coverage would apply. No coverage would apply to the boat because the insured went outside the territorial limit of 12 miles.

What type of coverage would a physician, surgeon, or dentist require?

Professional

The name of the federal crop program is called:

Multi-Peril Crop Insurance.

The first effort to provide insurance for land transportation risks involved an extension of ocean marine coverage known as the:

This is called the “warehouse to warehouse” clause. Coverage applies from the warehouse from which the goods are shipped to the warehouse of the recipient.

The State Insurance Fund provides workers compensation coverage for which of the following?

The fund is for both those employers unable to obtain coverage and those purchasing coverage in the competitive market.

An electrocardiogram records the electrical activity of the:

The heart.

Aircraft medical payments can be amended by endorsement to include injury to:

The crew.

The workers compensation plan covering land based maritime workers is called:

Those who load, unload, build and repair ships are covered by the U.S. Long Shore and Harbor Workers Act. The key word in the question was “land based”. Maritime workers out at sea would be covered by the Jones Act.

An apartment dweller would need which of the following homeowner forms?

The HO-4 form is designed to cover the property of tenants.

If a person is qualified to receive benefits from the Motor Vehicle Accident Indemnification Corporation and are injured by a “hit and run” driver, how many days do they have to file a claim?

First they must report the incident to a law enforcement agency within 24-hours. They have 90-days from the date of the accident to file a claim.

The optional provision which automatically amends an existing policy to conform with changes in state law is called:

This provision keeps existing policies in compliance with state law without compelling insurers to constantly refilling and reissuing contracts as state laws change.

The giving up of a known right is called:

The giving up a know right is called a waiver. Known rights usually are not waived. However, a waiver can be intentional, unintentional, direct or indirect. Failure to report a claim in a timely fashion can affect a person’s right to coverage.

Under "additional coverages" of the Homeowners Section II - Liability coverage, damage to property of others will not be covered if it is caused intentionally by an insured who is at least:

If the child is under age 13 the policy will cover the intentional acts. This coverage is only for property damage and not bodily injury.

Which of the following would be considered an unfair trade practice act?

Advising the insured that if the auto policy is written, the other policies the insured carries must be switched to the same carrier.

Subject to certain limitations, the Superintendent of Insurance may issue a _____ day temporary permit to an individual to adjust claims while an adjuster’s application is pending.

The permit can be issued for a period of 120 days subject to restrictions.

All of the following would need a License and Permit Bond, EXCEPT:

A lawyer does not need to have a bond in order to practice law. They should have professional liability insurance. The other three would all need a bond to be licensed to do work in the city, state or other municipality.

Which one of the following is a key factor in determining workers compensation premium?

Annual payroll, along with work classifications, experience modification factor, and perhaps other factors, are the components which determine workers compensation premium.

A person, firm, or corporation that, for compensation, acts on behalf of an insured in negotiating the settlement of certain claims for loss or damage to property is known as a/an:

Public adjuster.

The deductible on the Equipment Breakdown form can be stated in which of the following ways?

The deductible on the form can be stated as a fixed dollar amount per accident, or a time deductible such as five days. The deductible could also be stated as a percentage of the loss. This deductible could also be subject to a minimum and maximum amount.

All 3 are correct

Which situation could be covered by Kim’s general liability insurance?

A client slips and falls in Kim’s design studio. The CGL policy is designed to cover premises liability.

Mr. Robin is retired and lives in an older home in Maine. He has an old floor furnace to heat his home that is in need of repair and he forgets to have it checked. In the winter he stays in Florida for a month with his daughter. While away the furnace malfunctions and all his water pipes freeze and burst causing massive water damage. The furnace is also destroyed. He has a broad form homeowner policy, which includes water damage from a heating or plumbing system. What will the adjuster do?

Pay for all damage except the furnace.

The National Flood Insurance Program provides coverage for losses caused by all of the following occurrences, EXCEPT:

Water-main breakage.

Mr. York had his pickup truck stolen while it was parked in a "no parking" zone outside his office. The value of the truck was $18,500. In addition, tools valued at $200, extra tires and hubcaps for the truck valued at $550 and a tarp worth $50 were in the truck. Mr. York has a collision deductible of $500 and a comprehensive deductible of $250. The insurance company will pay what amount?

$18,800. The loss of the truck plus the extra tires and hubcaps would be considered in this claim. These total $19,050 less the deductible of $250 equals $18,800.

In case of an injured employee, income benefits begin after a seven day waiting period. Retroactive benefits will be paid is the disability continues beyond a period of:

The benefits are retroactive to the date of the injury if the disability continues beyond a period of two weeks.

Smoke damage to the insured premises caused by the sudden faulty operation of the insured's fireplace is covered under the:

Both the DP-2 and the DP-3

Aircraft hull insurance will provide coverage for which of the following?


Aircraft hull insurance indemnifies the policyholder for damage to or loss of the aircraft hull or fuselage. These policies are similar to auto policies in terms of coverage's offered.

Which of the following is not a common way dental insurance programs work to minimize adverse selection?

Increasing the maximum annual benefit to encourage the insured to maintain dental health for the long term.

After an auto collision loss an insurance company may elect to pay the insured's claim and take possession of the vehicle. This practice is referred to as:

Salvage.

Clauson Construction Company has a claims-made CGL policy with a 01/01/00 retroactive date, an effective date of 01/01/01, and an expiration date of 01/01/02. A construction accident allegedly occurred on 12/31/00, but the claim against Clauson was not made until 02/28/01. The insurer will likely:

Cover the claim.

What is the definition of a non-resident agent?

Someone licensed in his or her state and obtains a license in another state to solicit insurance business in that state.

An insured purchases two homeowner policies from two different insurance companies. If a covered loss occurs, on what basis will the loss be settled by each of the insurers?

Pro rata basis.

An insured purchases two homeowner policies from two different insurance companies. If a covered loss occurs, on what basis will the loss be settled by each of the insurers?

Pro rata basis.

Which of the following statements is correct regarding pollution caused by smoke released from an industrial operation covered under the Commercial Property Policy

Covered if caused by a covered cause of loss peril

Which of the following lines of insurance are covered under the Terrorism Risk Insurance Act, now referred to as the Terrorism Risk Insurance Extension Act of 2015?

Workers compensation

Under the livestock coverage form, within how many days must newly acquired livestock be added to the policy?

Within 30 days of purchase.

Which of the following auto endorsements would include family members as insureds?

Extended non-owned auto.

While in England an insured has her purse stolen and files a claim for $500 of cash, $1,000 in airline tickets, $250 for miscellaneous items and $50 for the value of the purse. How much of this loss would be covered under a DP-1 dwelling form?

None of the dwelling forms provide theft coverage of personal property unless the theft coverage endorsement is purchased.

Vision care insurance normally covers all or part of the cost of prescribed eyeglasses once every:

2 years

How are household personal property claims settled under the farm policy?

Actual cash value.

Under workers compensation in New York, which of the following does not raise the premium based on it being a proportion of the charged premium?

A premium discount would not raise the premium. These are provided by modification rating factors based on the below average loss experience of the insured.

Risk is best defined as:

An uncertainty of loss

The maximum payable for damage or loss to signs attached to the building covered under a BOP is:

$1000.00

Insurable interest is clearly present in all of the following, EXCEPT:

A person is interested in buying a sports car and inquires about the cost of insurance. is correct.


Insurable interest is clearly present in all of the following, EXCEPT:

A person is interested in buying a sports car and inquires about the cost of insurance. is correct.


What is the limit of insurance that applies to property in transit in the BOP

The BOP provides a $10,000 limit for property in transit.

Which of the following would be covered under a multi-peril crop policy?

Low Yields. The multi-peril crop insurance program provides protection against low yields and poor quality crops as well as prevented planting, late planting and replanting costs for most crops subject to the perils insured against. The coverage applies to income protection. Crop revenue insurance goes a step further than multi-peril crop insurance by guaranteeing farms a certain income, which allows them to manage both yield and price risk.

The law recognizes two types of waivers. They are:

Express/implied. An express waiver occurs when the insurer or its representative knowingly gives up a known right under the insurance contract. Perhaps the right to request an appraisal of the damaged property is an example. By comparison, an implied waiver may be the result from some act of neglect on the part of the adjuster.

The law recognizes two types of waivers. They are:

Express/implied. An express waiver occurs when the insurer or its representative knowingly gives up a known right under the insurance contract. Perhaps the right to request an appraisal of the damaged property is an example. By comparison, an implied waiver may be the result from some act of neglect on the part of the adjuster.

Which of the following is not included under the Optional Basic Economic Loss (OBEL) coverage?

Pain and suffering.

The New York Superintendent of Insurance may refuse to renew, suspend or revoke a license as a result of which of the following?



I. A violation of any provision of the New York Insurance Code.


II. An adjuster making a material misstatement in application for license.


III. An adjuster being found guilty of fraud or dishonest practices.

I, II and III.

What is a “ball joint”?

Allows for pivotal and rotational movement .

What is a “ball joint”?

Allows for pivotal and rotational movement .

Public official bonds are meant to:

Guarantee faithful performance of the elected or appointed public official.

What feature is common to most property insured under a commercial inland marine policy?

Historically speaking, inland marine policies involved movement of goods over land. While some inland marine policies cover property at a fixed location (like fine art or maps and drawings), the common thread to most IM policies is transit risk, or property being off of an insured’s main premises – like cargo on trucks or contractor’s equipment.

Under Coverage E - Scheduled Farm Property, how is the property covered

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

Under Coverage E - Scheduled Farm Property, how is the property covered

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The maximum payable for damage or loss to signs attached to the building covered under a BOP is:

$1000

Under Coverage E - Scheduled Farm Property, how is the property covered

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The maximum payable for damage or loss to signs attached to the building covered under a BOP is:

$1000

On the HO-2 policy, damage caused by wind to personal property would be covered if:

Wind blew a hole in the structure allowing the wind to damage the contents.

Which of the following injuries would be paid under the Liability section of the Personal Auto Policy?

Injuries to the person the insured hit.

Which of the following is correct about long term care insurance?

Current policies are more likely to pay benefits regardless of the level of care required by the insured.

Which of the following people would not be considered “family members” under the Personal Auto Policy?


The divorced wife of the insured would not be considered a family member.

Which of the following people would not be considered “family members” under the Personal Auto Policy?


The divorced wife of the insured would not be considered a family member.

The insured was working with a subcontractor installing wiring in an office building the insured was remodeling for a customer. The insured accidentally caused a fire when he crossed some wires. Two of the offices were damaged, and the wiring had to be replaced. Which of the damages will the insured’s commercial umbrella liability policy likely cover if it is needed?

The coverage would only apply to the damage to the two offices only. The wiring is not covered. It is part of their work.

Which of the following people would not be considered “family members” under the Personal Auto Policy?


The divorced wife of the insured would not be considered a family member.

The insured was working with a subcontractor installing wiring in an office building the insured was remodeling for a customer. The insured accidentally caused a fire when he crossed some wires. Two of the offices were damaged, and the wiring had to be replaced. Which of the damages will the insured’s commercial umbrella liability policy likely cover if it is needed?

The coverage would only apply to the damage to the two offices only. The wiring is not covered. It is part of their work.

Which of the following statements is true regarding personal auto coverage?

Medical Payments Coverage pays the insured and others without regard to fault. is correct.

Which of the following people would not be considered “family members” under the Personal Auto Policy?


The divorced wife of the insured would not be considered a family member.

The insured was working with a subcontractor installing wiring in an office building the insured was remodeling for a customer. The insured accidentally caused a fire when he crossed some wires. Two of the offices were damaged, and the wiring had to be replaced. Which of the damages will the insured’s commercial umbrella liability policy likely cover if it is needed?

The coverage would only apply to the damage to the two offices only. The wiring is not covered. It is part of their work.

Which of the following statements is true regarding personal auto coverage?

Medical Payments Coverage pays the insured and others without regard to fault. is correct.

The Federal Terrorism Act covers all of the following, EXCEPT:

The Act does not apply to crop insurance. Note: The Act was amended and extended in 2015 to further limit the lines of insurance covered. It now also excludes commercial auto, surety, burglary and theft.

Which of the following people would not be considered “family members” under the Personal Auto Policy?


The divorced wife of the insured would not be considered a family member.

The insured was working with a subcontractor installing wiring in an office building the insured was remodeling for a customer. The insured accidentally caused a fire when he crossed some wires. Two of the offices were damaged, and the wiring had to be replaced. Which of the damages will the insured’s commercial umbrella liability policy likely cover if it is needed?

The coverage would only apply to the damage to the two offices only. The wiring is not covered. It is part of their work.

Which of the following statements is true regarding personal auto coverage?

Medical Payments Coverage pays the insured and others without regard to fault. is correct.

The Federal Terrorism Act covers all of the following, EXCEPT:

The Act does not apply to crop insurance. Note: The Act was amended and extended in 2015 to further limit the lines of insurance covered. It now also excludes commercial auto, surety, burglary and theft.

Which of the following crime endorsements affects employee theft coverage?



I. Name or position schedule.


II. Client's property.


III. Forgery


IV. Safe depository.

Employee theft coverage covers loss to the insured's property due to "theft" by an employee, whether identified or not. The name or position schedule endorsement requires that the guilty employee's name or position be named on the endorsement; the client's property endorsement extends coverage to property owned by a client, as long as the "theft" was by an "identified employee".

Which of the following would be considered "economic" losses?

Medical expense and lost wages . Economic losses are those that include out-of-pocket damages, such as incurred medical expenses or lost wages. It does not include disfigurement, pain and suffering or loss of consortium.

Which of the following would be considered "economic" losses?

Medical expense and lost wages . Economic losses are those that include out-of-pocket damages, such as incurred medical expenses or lost wages. It does not include disfigurement, pain and suffering or loss of consortium.

hich of the following statements about workers compensation coverage is correct?

Once an employer has purchased workers compensation coverage, it becomes the exclusive remedy for the payment of work related employee injuries.

Which of the following would be considered "economic" losses?

Medical expense and lost wages . Economic losses are those that include out-of-pocket damages, such as incurred medical expenses or lost wages. It does not include disfigurement, pain and suffering or loss of consortium.

hich of the following statements about workers compensation coverage is correct?

Once an employer has purchased workers compensation coverage, it becomes the exclusive remedy for the payment of work related employee injuries.

The insured owns the following properties. Which one of them would be considered to be “business property” by the personal umbrella liability policy?

In this case the apartment building would be considered “business property”.

Anyone who threatens, forces or corruptly influences, obstructs or impedes the due and proper administration of the fraud law relating to the insurance business may be fined and/or imprisoned up to:

Under the Federal Insurance Fraud and False Statements Act, if a person impedes a fraud investigation relating to insurance, they may be fined and/or jailed up to 10 years.

The National Flood Insurance Program will pay which of the following amounts to assist with moving of property to safety when there is imminent flood danger?

The NFIP provides $1,000 of coverage to move property to safety, but that amount decreases the coverage limit payable for damaged property.

Henry works for Better Burger, Inc. As part of his compensation package, he is supplied with a company vehicle which he is allowed to take home each evening. Henry wants to make sure that the Liability coverage under his Personal Auto Policy covers him while driving the company car. What coverage should the agent add to his policy?

The Personal Auto Policy excludes coverage for a furnished automobile. The agent should add the “Extended Nonowned Liability Coverage” endorsement for an additional premium.

Under a business owners policy, the hired–non owner auto coverage would apply to:

This endorsement used with the BOP where the insured does not carry business auto coverage. It provides two coverages. The first covers the "insured's" legal liability for bodily injury or property damage that arises out of the maintenance or use of a hired auto by the insured or the insured's employees in the course of the insured's business.The second purpose of this endorsement is to provide bodily injury or property damage that arises out of the use any non-owned auto in the insured's business by any person.

Under a business owners policy, the hired–non owner auto coverage would apply to:

This endorsement used with the BOP where the insured does not carry business auto coverage. It provides two coverages. The first covers the "insured's" legal liability for bodily injury or property damage that arises out of the maintenance or use of a hired auto by the insured or the insured's employees in the course of the insured's business.The second purpose of this endorsement is to provide bodily injury or property damage that arises out of the use any non-owned auto in the insured's business by any person.

Following the payment of a claim, the salvaged property becomes the property of.

Unless other arrangements are made and agreed upon, after the claim has been paid the salvaged property will belong to the insurer. The adjuster will take custody of the property and choose a salvage company to purchase the salvage.

Coverage for earthquakes and volcanic eruptions may be attached to Commercial Property Insurance. When the Earthquake Causes of Loss Form is attached, a series of earthquakes or volcanic eruptions will be treated as a single event whenever the series of shocks or eruptions occurs within a:

Even though all the Commercial Causes of Loss Forms cover volcanic action, the earth movement is not covered. Earthquake insurance must be purchased as a separate endorsement. The form defines an earthquake as a single event for a 168-hour limit.

All of the following uniform optional provisions permit the insurer to adjust benefits, EXCEPT:

Time payment of claims is a mandatory provision that favors the insured. It stipulates the time period in which a claim must be paid.

New York residents securing any type of insurance adjuster license must meet all the following qualifications, except:

The applicant must be at least 18 years of age.

New York residents securing any type of insurance adjuster license must meet all the following qualifications, except:

The applicant must be at least 18 years of age.

Though multiple parties may be involved in a lawsuit, the opposing sides are referred to as:

Plaintiff and defendant.

New York residents securing any type of insurance adjuster license must meet all the following qualifications, except:

The applicant must be at least 18 years of age.

Though multiple parties may be involved in a lawsuit, the opposing sides are referred to as:

Plaintiff and defendant.

A fire in an insured's restaurant burns the kitchen walls and causes smoke damage to the entire interior. Water used to extinguish the fire causes extensive damage to floors and furnishings. The water damage is BEST described as:

The water damage is considered a direct loss to the property as well as other damage the fire fighters may cause to the premises

New York residents securing any type of insurance adjuster license must meet all the following qualifications, except:

The applicant must be at least 18 years of age.

Though multiple parties may be involved in a lawsuit, the opposing sides are referred to as:

Plaintiff and defendant.

A fire in an insured's restaurant burns the kitchen walls and causes smoke damage to the entire interior. Water used to extinguish the fire causes extensive damage to floors and furnishings. The water damage is BEST described as:

The water damage is considered a direct loss to the property as well as other damage the fire fighters may cause to the premises

Which of the following is not required to obtain an adjuster license in New York?

None of those listed is required to be licensed.

Equipment Breakdown coverage does not apply to which of the following losses?

Coverage does not apply to loss outside the equipment (often referred to as the insured object or objects). An explosion outside the equipment is not covered whereas an explosion inside the equipment is covered.

Equipment Breakdown coverage does not apply to which of the following losses?

Coverage does not apply to loss outside the equipment (often referred to as the insured object or objects). An explosion outside the equipment is not covered whereas an explosion inside the equipment is covered.

When a claimant is represented by an attorney, which of the following is prohibited by the adjuster?

Once a claimant has hired an attorney, the adjuster may not contact the claimant directly without the consent of the attorney.

Equipment Breakdown coverage does not apply to which of the following losses?

Coverage does not apply to loss outside the equipment (often referred to as the insured object or objects). An explosion outside the equipment is not covered whereas an explosion inside the equipment is covered.

When a claimant is represented by an attorney, which of the following is prohibited by the adjuster?

Once a claimant has hired an attorney, the adjuster may not contact the claimant directly without the consent of the attorney.

The root word "glyc" refers to:

The root word "glyc" refers to sugar, such as "glycemia" meaning either an excess (hyperglycemia) or dearth (hypoglycemia) of blood sugars.

Equipment Breakdown coverage does not apply to which of the following losses?

Coverage does not apply to loss outside the equipment (often referred to as the insured object or objects). An explosion outside the equipment is not covered whereas an explosion inside the equipment is covered.

When a claimant is represented by an attorney, which of the following is prohibited by the adjuster?

Once a claimant has hired an attorney, the adjuster may not contact the claimant directly without the consent of the attorney.

The root word "glyc" refers to:

The root word "glyc" refers to sugar, such as "glycemia" meaning either an excess (hyperglycemia) or dearth (hypoglycemia) of blood sugars.

Commercial Inland coverages can be written as a stand alone policy and not included in the Commercial Package Policy (CPP), this would be called:

A monoline policy is a stand alone policy with policy forms that pertain to just that coverage.

Equipment Breakdown coverage does not apply to which of the following losses?

Coverage does not apply to loss outside the equipment (often referred to as the insured object or objects). An explosion outside the equipment is not covered whereas an explosion inside the equipment is covered.

When a claimant is represented by an attorney, which of the following is prohibited by the adjuster?

Once a claimant has hired an attorney, the adjuster may not contact the claimant directly without the consent of the attorney.

The root word "glyc" refers to:

The root word "glyc" refers to sugar, such as "glycemia" meaning either an excess (hyperglycemia) or dearth (hypoglycemia) of blood sugars.

Commercial Inland coverages can be written as a stand alone policy and not included in the Commercial Package Policy (CPP), this would be called:

A monoline policy is a stand alone policy with policy forms that pertain to just that coverage.

A sudden and unexpected event is known as:

This is a very narrow definition of damage or injury as it does not allow for claims that occur as a result of gradual damage or repeated injury. Thus, the term occurrence is now widely used which includes "accident" as well as the continuous repeated injury or damage resulting in a loss.

All of the following are types of limited risk policies, EXCEPT

Dread disease or specified disease policies limit coverage to certain illnesses only. Travel accident policies only cover death or injury due to an accident while traveling as a fare-paying passender. Hospital income plans pay a specific sum while confined in a hospital that is not related to expenses incurred or wages lost. A basic hospital plan will cover room and board and miscellaneous expenses up to certain limits or schedules but does not limit coverage to the type of accident or health condition.

A 40-year-old woman is insured under a $500 per month disability income policy that includes a change of occupation provision. After her policy was issued, she changed her occupation from insurance agent to farmer without notifying the insurance company and she was recently injured. She would most likely receive which of the following from the insurance company?

The change of occupation provision provides that a change to a more hazardous occupation provides for either a benefit reduction, or a premium increase. A change to a less hazardous occupation provides for a premium refund.

What is a Reporting Form policy?

A "Reporting Form" policy is one in which the policyholder is required to report the values of insured property to the company at certain intervals. A provisional (deposit) premium is charged initially and the final premium is determined by applying the rate to the average of the values reported. The insured is required to insure the property 100% to value. The insured is also required to report 100% of the value of the insured property.

What is a Reporting Form policy?

A "Reporting Form" policy is one in which the policyholder is required to report the values of insured property to the company at certain intervals. A provisional (deposit) premium is charged initially and the final premium is determined by applying the rate to the average of the values reported. The insured is required to insure the property 100% to value. The insured is also required to report 100% of the value of the insured property.


A common carrier is one that transports or handles the goods of the general public. The carrier has signed a transportation contract with the seller of the goods to be shipped to the buyer. If the goods are shipped Free on Board (FOB), when does the seller's responsibility for the goods cease?

FOB is one of several standard terms used in contracts of sale to indicate responsibility for damage to goods during shipment. When goods are shipped FOB, the seller's responsibility ends when a carrier takes possession of them, or, with respect to ocean shipments, when the merchandise is placed safely aboard the vessel or when an on board bill of lading has been issued. The buyer is responsible for insuring the goods from that point on. If the goods are damaged as a result of the negligence of the carrier, then the carrier's coverage applies to the damage.

In terms of fidelity bonds, what does “position scheduled” refer to?

Rather than schedule the individuals by name to be covered under the bond, their positions are scheduled.

In terms of fidelity bonds, what does “position scheduled” refer to?

Rather than schedule the individuals by name to be covered under the bond, their positions are scheduled.

Which of the following statements is correct?


I. Both DP-2 and DP-3 settle losses to covered personal property at actual cash value (ACV).


II. Both DP-2 and DP-3 settle partial losses to covered dwellings at replacement value in all situations

Both DP-2 and DP-3 cover partial dwelling losses at replacement value only if adequate insurance to value is in force. (Adequate insurance to value must be 80% or more of the replacement cost value of the structures.)

Coverage under the National Flood Insurance Program may be written.

To be a participating community, FEMA guidelines must be accepted. Once accepted, the community can first be covered under the emergency flood program, then the regular flood program.

Coverage under the National Flood Insurance Program may be written.

To be a participating community, FEMA guidelines must be accepted. Once accepted, the community can first be covered under the emergency flood program, then the regular flood program.

When may an insured sue an insurer?

The insured cannot bring a successful action against the insurer unless he or she has complied with the policy conditions. Most policies also state that the suit must be brought within two years of the claim.

All of the following are duties of the New York Superintendent of Insurance EXCEPT:

State laws are made by the New York legislature and the Superintendent is responsible for their enforcement.

Which of the following losses is not excluded under trailer interchange coverage?

The trailer interchange coverage applies whether the trailer is attached or unattached to a power unit. Coverage is provided under an agreement while the trailer is in the insured’s possession.

In the rating of workers compensation coverage, a risk that has suffered a frequency of losses may be subject to what is termed "experience risk modification factors". Which of the following factors would indicate a relatively high surcharge on rates?

A risk that has suffered a frequency of losses will probably have their rates increased. The factor of 1.25 is a relatively high surcharge and indicates a high loss ratio.

In the rating of workers compensation coverage, a risk that has suffered a frequency of losses may be subject to what is termed "experience risk modification factors". Which of the following factors would indicate a relatively high surcharge on rates?

A risk that has suffered a frequency of losses will probably have their rates increased. The factor of 1.25 is a relatively high surcharge and indicates a high loss ratio.

An earthquake and landslide has occurred and soon after a house insured on an unendorsed HO-3 is damaged by fire and then an explosion. What would be covered in this scenario?

The proximate cause of loss is apparently earth movement, but the insured does NOT need the earthquake endorsement to cover the fire and explosion. In the HO forms, the earth movement exclusion states that there IS coverage. If fire or explosion ensues the insurer will pay only for the ensuing loss. (Similarly, the water damage exclusion states that direct loss by fire, explosion, and theft resulting from water damage is covered.)

What is "gap" insurance?

Gap insurance pays the difference between the actual cash value of the vehicle at the time of the loss and the amount owed on the vehicle. However, it does not pay for any excessive use charges, warranty costs, late fees or overdue payments, and other loan add-ons such as the unpaid balance of a previous loan that was rolled into the loan on the new vehicle. This is often referred to as “negative equity”.

Every licensee must notify the Insurance Department of any change in the business or residence address within ____ of the change.

Licensees must make notification of a change of address within 30 days of the change.

Which of the following coverages provides payments to a third party, rather than to the named insured?

The third party will be provided payment under the liability section of the policy.

Which of the following coverages provides payments to a third party, rather than to the named insured?

The third party will be provided payment under the liability section of the policy.

Coach Joe loans his car, covered under a Personal Auto policy, to assistant coach Tom to take several members of the Lake Recreation Swim Team home after a meet. In the event of an accident, the liability section of the Personal Auto policy would cover all of the following, EXCEPT:

Coach Joe is covered because he owns the car. Assistant coach Tom is covered because he had Joe's permission to drive his car. Lake Recreation Swim Team is also an insured but only with respect to legal responsibilities for acts or omissions of a person for whom coverage is afforded.

If a crop insurance policy does not cover loss of the first 10% of a crop's value, but does cover a fixed percentage of any additional loss, the policy is said to be written:

The term "excess over" means that the coverage applies as excess, and that the insurer has no liability until the loss exceeds a particular threshold.

If a crop insurance policy does not cover loss of the first 10% of a crop's value, but does cover a fixed percentage of any additional loss, the policy is said to be written:

The term "excess over" means that the coverage applies as excess, and that the insurer has no liability until the loss exceeds a particular threshold.

Removing the side body panels when repairing a door or front end damage will enable the appraiser to check for:

Removing the side panels or the front fender will expose the door hinges to check for damage to them.

Which of the following business exposures would not qualify for the permitted incidental occupancies (HO-0442) endorsement on the homeowner policy?

The convenience store is not an acceptable incidental occupancy. This should be covered under a commercial policy.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.


The medical payments coverage on the farm policy can be claimed for up to:

Similar to a homeowner policy, medical payment claims can be made up to three years from the date of the injury.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.


The medical payments coverage on the farm policy can be claimed for up to:

Similar to a homeowner policy, medical payment claims can be made up to three years from the date of the injury.

Diane is fined by the Superintendent for a violation of the insurance law of New York. The fine is not paid within 20 days. What action may the Superintendent take?


If the fine has not been paid within 20 days the Superintendent will suspend or revoke the license.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.


The medical payments coverage on the farm policy can be claimed for up to:

Similar to a homeowner policy, medical payment claims can be made up to three years from the date of the injury.

Diane is fined by the Superintendent for a violation of the insurance law of New York. The fine is not paid within 20 days. What action may the Superintendent take?


If the fine has not been paid within 20 days the Superintendent will suspend or revoke the license.

The term "time element coverage" is used when the amount of loss depends on

The time it takes to repair, rebuild or restore damaged. This is called the restoration period.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.


The medical payments coverage on the farm policy can be claimed for up to:

Similar to a homeowner policy, medical payment claims can be made up to three years from the date of the injury.

Diane is fined by the Superintendent for a violation of the insurance law of New York. The fine is not paid within 20 days. What action may the Superintendent take?


If the fine has not been paid within 20 days the Superintendent will suspend or revoke the license.

The term "time element coverage" is used when the amount of loss depends on

The time it takes to repair, rebuild or restore damaged. This is called the restoration period.

Evergreen Lawn Care has two lawn maintenance crews on separate job sites. Coverage for the lawn maintenance equipment on the way to the site, while at the site and in transit back to the shop can be covered by which of the following forms?

The Contractors equipment Floater will cover the lawn maintenance equipment usually on an open peril basis. The covered territory is the US, its possessions, Puerto Rico and Canada.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.


The medical payments coverage on the farm policy can be claimed for up to:

Similar to a homeowner policy, medical payment claims can be made up to three years from the date of the injury.

Diane is fined by the Superintendent for a violation of the insurance law of New York. The fine is not paid within 20 days. What action may the Superintendent take?


If the fine has not been paid within 20 days the Superintendent will suspend or revoke the license.

The term "time element coverage" is used when the amount of loss depends on

The time it takes to repair, rebuild or restore damaged. This is called the restoration period.

Evergreen Lawn Care has two lawn maintenance crews on separate job sites. Coverage for the lawn maintenance equipment on the way to the site, while at the site and in transit back to the shop can be covered by which of the following forms?

The Contractors equipment Floater will cover the lawn maintenance equipment usually on an open peril basis. The covered territory is the US, its possessions, Puerto Rico and Canada.

Under the Equipment Breakdown policy loss settlement provisions, what date is used to determine value?

The value of the loss is determined at the time of the loss.

A statement taken from a witness is used by an adjuster to:

A statement taken from a witness will put in writing the facts and details of a claim situation as provided by the witness.


The medical payments coverage on the farm policy can be claimed for up to:

Similar to a homeowner policy, medical payment claims can be made up to three years from the date of the injury.

Diane is fined by the Superintendent for a violation of the insurance law of New York. The fine is not paid within 20 days. What action may the Superintendent take?


If the fine has not been paid within 20 days the Superintendent will suspend or revoke the license.

The term "time element coverage" is used when the amount of loss depends on

The time it takes to repair, rebuild or restore damaged. This is called the restoration period.

Evergreen Lawn Care has two lawn maintenance crews on separate job sites. Coverage for the lawn maintenance equipment on the way to the site, while at the site and in transit back to the shop can be covered by which of the following forms?

The Contractors equipment Floater will cover the lawn maintenance equipment usually on an open peril basis. The covered territory is the US, its possessions, Puerto Rico and Canada.

Under the Equipment Breakdown policy loss settlement provisions, what date is used to determine value?

The value of the loss is determined at the time of the loss.

Which of the following is not a basic claims handling activity

Communicating sympathy, although humane, is not a basic activity of a claims adjuster.

Duplicate recovery under New York No-Fault coverage is not permitted. If the employee is covered under the employer's auto policy what might be done to the employee's personal auto insurance coverage:

PP 05 92 will exclude medical expenses from the basic economic loss coverage for no-fault benefits. With commercial lines, endorsement CA 22 49 can be used. The premiums for the basic economic loss (PIP) will be reduced accordingly.

A drug store has an ice cream counter and someone spills ice cream on the floor. Both the employee and the store manager are aware of the situation. The store can be held legally liable when:

All of the responses are correct. The store has a legal duty to protect invitees from sustaining injuries if possible.

What is the purpose of the "liberalization clause?"

It states that if an insurer decides to broaden its standard policy coverages, then all outstanding policies issued prior to that decision will automatically receive those new coverage

What is the purpose of the "liberalization clause?"

It states that if an insurer decides to broaden its standard policy coverages, then all outstanding policies issued prior to that decision will automatically receive those new coverage

The insured has a one family dwelling with a detached garage. The dwelling is insured for $200,000. How much coverage applies to the garage?

The policy provides for 10% of the dwelling limit. Therefore, the garage is insured for $20,000 for the same perils that apply to the dwelling.

What is the purpose of the "liberalization clause?"

It states that if an insurer decides to broaden its standard policy coverages, then all outstanding policies issued prior to that decision will automatically receive those new coverage

The insured has a one family dwelling with a detached garage. The dwelling is insured for $200,000. How much coverage applies to the garage?

The policy provides for 10% of the dwelling limit. Therefore, the garage is insured for $20,000 for the same perils that apply to the dwelling.

A disability that is presumed to result from the same or a related cause of a prior disability, within 6 months of having been released from care of the original disability, is know as:

The recurrent disabilty feature prevents the insured from having to satisfy a new elimination period when a recurrence of the original cause of a disability occurs within six months following the insureds release from a physicians care and returns to work.

Which of these product liability lawsuits is not covered under the BOP or the CGL policy?

Product liability would not apply to products made in Zaire and the lawsuit brought in Germany. The product must be manufactured or sold within the covered territory which is the USA, its territories or possessions, Puerto Rico and Canada for coverage to apply.

The policy term of a flood insurance policy is:

Flood insurance is written on a one-year term basis.


The policy term of a flood insurance policy is:

Flood insurance is written on a one-year term basis.


What is the difference between a "vacant" building and an "unoccupied" building?

In insurance terms, vacant means void of furnishings and occupants; unoccupied is merely a state of not being occupied. A vacant building is empty. An unoccupied building is simply not in use, but is not empty. A vacant building increases the risk of certain perils.

The policy term of a flood insurance policy is:

Flood insurance is written on a one-year term basis.


What is the difference between a "vacant" building and an "unoccupied" building?

In insurance terms, vacant means void of furnishings and occupants; unoccupied is merely a state of not being occupied. A vacant building is empty. An unoccupied building is simply not in use, but is not empty. A vacant building increases the risk of certain perils.

The broad and special dwelling forms (DP-2 and DP-3) will provide replacement cost coverage for buildings if the amount of insurance written on the building is at least:

If the insured carries less than 80% of the replacement cost of the dwelling, the insured will be penalized in case of a partial loss.

The policy term of a flood insurance policy is:

Flood insurance is written on a one-year term basis.


What is the difference between a "vacant" building and an "unoccupied" building?

In insurance terms, vacant means void of furnishings and occupants; unoccupied is merely a state of not being occupied. A vacant building is empty. An unoccupied building is simply not in use, but is not empty. A vacant building increases the risk of certain perils.

The broad and special dwelling forms (DP-2 and DP-3) will provide replacement cost coverage for buildings if the amount of insurance written on the building is at least:

If the insured carries less than 80% of the replacement cost of the dwelling, the insured will be penalized in case of a partial loss.

What is the difference between arbitration and mediation in the adjusting of claims?

Arbitration is when the parties in a dispute submit their differences to a private body and the private body's decision is usually final and binding to both parties. Mediation involves an impartial person, usually in the law profession, who helps the parties analyze their dispute and devise a compromise.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.


QUESTION:


The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following policies would be best suited to cover a theft loss on a lake?

The boatowners policy would be the better product to cover a fresh water boat of this size and horsepower. The homeowner policy has a limitation for physical damage coverage and does not cover the theft of a boat off the insured’s premises. Also the HO policy would not cover the liability of an outboard motor of more than 25 horsepower.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

A unibody vehicle that was in a collision has been repaired. A four-wheel alignment shows that the car is tracking within manufacturer specs, but a visual inspection of the car reveals some misalignment with panels. Could the unibody still be bent?

Yes. A unibody can be seriously damaged and out of alignment in terms of factory specs. However, if the control points and suspension mounting points are within spec, the wheel alignment will be normal. This does not mean the car is repaired properly, although the safety of the car can only be ascertained on an individual basis.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.


QUESTION:


The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following policies would be best suited to cover a theft loss on a lake?

The boatowners policy would be the better product to cover a fresh water boat of this size and horsepower. The homeowner policy has a limitation for physical damage coverage and does not cover the theft of a boat off the insured’s premises. Also the HO policy would not cover the liability of an outboard motor of more than 25 horsepower.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

A unibody vehicle that was in a collision has been repaired. A four-wheel alignment shows that the car is tracking within manufacturer specs, but a visual inspection of the car reveals some misalignment with panels. Could the unibody still be bent?

Yes. A unibody can be seriously damaged and out of alignment in terms of factory specs. However, if the control points and suspension mounting points are within spec, the wheel alignment will be normal. This does not mean the car is repaired properly, although the safety of the car can only be ascertained on an individual basis.

Which of the following is not a claim settlement option in a property loss?

Offering market value only is not a claim settlement option. If the insured carries replacement cost coverage then the adjuster needs to address the payment of the claim accordingly.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.


QUESTION:


The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following policies would be best suited to cover a theft loss on a lake?

The boatowners policy would be the better product to cover a fresh water boat of this size and horsepower. The homeowner policy has a limitation for physical damage coverage and does not cover the theft of a boat off the insured’s premises. Also the HO policy would not cover the liability of an outboard motor of more than 25 horsepower.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

A unibody vehicle that was in a collision has been repaired. A four-wheel alignment shows that the car is tracking within manufacturer specs, but a visual inspection of the car reveals some misalignment with panels. Could the unibody still be bent?

Yes. A unibody can be seriously damaged and out of alignment in terms of factory specs. However, if the control points and suspension mounting points are within spec, the wheel alignment will be normal. This does not mean the car is repaired properly, although the safety of the car can only be ascertained on an individual basis.

Which of the following is not a claim settlement option in a property loss?

Offering market value only is not a claim settlement option. If the insured carries replacement cost coverage then the adjuster needs to address the payment of the claim accordingly.

The Federal Terrorism Act covers property and casualty losses that exceed ______in the aggregate.

The Act covers losses from a certified terrorism act that exceed $100,000,000 (the trigger) in the aggregate. The Federal Terrorism Act was amended in 2007 to this limit. The Act has was further amended and extended 2015. The trigger remains the same, but will increase each year by $20 million starting in 2016. Please refer to your testing vendor outline to determine if it is testing on the prevous amendment or if it is testing on the 2015 extension of the Act. The answer to this question is correct for either year.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.


QUESTION:


The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following policies would be best suited to cover a theft loss on a lake?

The boatowners policy would be the better product to cover a fresh water boat of this size and horsepower. The homeowner policy has a limitation for physical damage coverage and does not cover the theft of a boat off the insured’s premises. Also the HO policy would not cover the liability of an outboard motor of more than 25 horsepower.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

A unibody vehicle that was in a collision has been repaired. A four-wheel alignment shows that the car is tracking within manufacturer specs, but a visual inspection of the car reveals some misalignment with panels. Could the unibody still be bent?

Yes. A unibody can be seriously damaged and out of alignment in terms of factory specs. However, if the control points and suspension mounting points are within spec, the wheel alignment will be normal. This does not mean the car is repaired properly, although the safety of the car can only be ascertained on an individual basis.

Which of the following is not a claim settlement option in a property loss?

Offering market value only is not a claim settlement option. If the insured carries replacement cost coverage then the adjuster needs to address the payment of the claim accordingly.

The Federal Terrorism Act covers property and casualty losses that exceed ______in the aggregate.

The Act covers losses from a certified terrorism act that exceed $100,000,000 (the trigger) in the aggregate. The Federal Terrorism Act was amended in 2007 to this limit. The Act has was further amended and extended 2015. The trigger remains the same, but will increase each year by $20 million starting in 2016. Please refer to your testing vendor outline to determine if it is testing on the prevous amendment or if it is testing on the 2015 extension of the Act. The answer to this question is correct for either year.

BAP coverage would apply to an accident or loss during the policy period in each of the following places, except:

The policy territory does not include Mexico. The newer versions of the BAP include coverage on a world-wide basis for a private passenger vehicle that the insured hires, rents or borrows without a driver for a period of 30 days or less.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.


QUESTION:


The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following policies would be best suited to cover a theft loss on a lake?

The boatowners policy would be the better product to cover a fresh water boat of this size and horsepower. The homeowner policy has a limitation for physical damage coverage and does not cover the theft of a boat off the insured’s premises. Also the HO policy would not cover the liability of an outboard motor of more than 25 horsepower.

After receiving an inquiry from the Insurance Department regarding a claim, an insurer must respond within:

Every insurer, upon receipt of an inquiry from the Insurance Department regarding a claim, must, within 10 business days, furnish the Department with all available information requested regarding the claim.

A unibody vehicle that was in a collision has been repaired. A four-wheel alignment shows that the car is tracking within manufacturer specs, but a visual inspection of the car reveals some misalignment with panels. Could the unibody still be bent?

Yes. A unibody can be seriously damaged and out of alignment in terms of factory specs. However, if the control points and suspension mounting points are within spec, the wheel alignment will be normal. This does not mean the car is repaired properly, although the safety of the car can only be ascertained on an individual basis.

Which of the following is not a claim settlement option in a property loss?

Offering market value only is not a claim settlement option. If the insured carries replacement cost coverage then the adjuster needs to address the payment of the claim accordingly.

The Federal Terrorism Act covers property and casualty losses that exceed ______in the aggregate.

The Act covers losses from a certified terrorism act that exceed $100,000,000 (the trigger) in the aggregate. The Federal Terrorism Act was amended in 2007 to this limit. The Act has was further amended and extended 2015. The trigger remains the same, but will increase each year by $20 million starting in 2016. Please refer to your testing vendor outline to determine if it is testing on the prevous amendment or if it is testing on the 2015 extension of the Act. The answer to this question is correct for either year.

BAP coverage would apply to an accident or loss during the policy period in each of the following places, except:

The policy territory does not include Mexico. The newer versions of the BAP include coverage on a world-wide basis for a private passenger vehicle that the insured hires, rents or borrows without a driver for a period of 30 days or less.

The Terrorism Risk Insurance Act and its extensions is an agreement between:

This is an agreement between the Federal Government and insurance companies to provide coverage for acts of terrorism.

Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be:

Items such as bridges, tunnels, power lines, pipelines, and radio transmission towers fall specifically under the nationwide marine definition category because they are “instrumentalities of transportation or communication.” They are not insured under typical commercial property insurance. They fall specifically under the nationwide marine definition category called "bridges, tunnels, and other instrumentalities of transportation and communication

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Coverage is included under the building coverage and would apply since the materials are next to the insured’s premises..

Which policy provides a high single limit of protection for catastrophic medical expenses?

Major medical insurance is designed to pay catastrophic expenses, using deductibles and co-insurance limits to control costs (and usage) while providing high maximum benefits.

A compression of the median nerve in the wrist radiating pain to the hand and/or forearm is commonly known as:

The compression of the medial nerve between the inelastic carpal ligament and other structures within the carpal tunnel causes a common painful disorder known as carpal tunnel syndrome. The compression of the medial nerve is often caused by performing repetitive tasks.

The head of each state's insurance department (the Commissioner, Superintendent, or Director) is empowered to:

Only the legislature can write laws. The head of each state's insurance department can issue rules and regulations to enforce the laws. Insurance departments approve most policy forms and rates, but they do not write or develop them.


Which of the following claims would be paid under the CGL policy?

The standard ISO CGL policy provisions define the "coverage territory" to mean all other parts of the world if bodily injury or property damage arises out of goods or products made or sold by the named insured within the United States, its territories, possessions, Puerto Rico, or Canada.

Which of the following is correct regarding the duties and responsibilities of the insured following a loss under a Homeowners policy?

The insured is required to protect the property from further damage. The policy contains a “reasonable repairs” clause providing the coverage to make temporary repairs to protect the property until permanent repairs can be made. In case of theft the insured is required to notify the police.

Which of the following types crops would a "small grain" crop policy cover?

Small grain consists of wheat, barley, as well as oats.


QUESTION:


The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following policies would be best suited to cover a theft loss on a lake?

The boatowners policy would be the better product to cover a fresh water boat of this size and horsepower. The homeowner policy has a limitation for physical damage coverage and does not cover the theft of a boat off the insured’s premises. Also the HO policy would not cover the liability of an outboard motor of more than 25 horsepower.

Which one of the following situations illustrates “bodily injury”?

A customer tripped on a clothes hanger that was lying on the floor between display cases in a store. As the customer fell, his head hit the side of a glass case. He eventually dies as a result of the injuries to his head.

Which one of the following situations illustrates “bodily injury”?

A customer tripped on a clothes hanger that was lying on the floor between display cases in a store. As the customer fell, his head hit the side of a glass case. He eventually dies as a result of the injuries to his head.


QUESTION:


Which of the following would be an “uninsured motor vehicle

Uninsured motorist coverage does not apply to vehicles owned or operated by a self-insurer under any applicable motor vehicle law, except a self insurer which becomes insolvent.

Which one of the following situations illustrates “bodily injury”?

A customer tripped on a clothes hanger that was lying on the floor between display cases in a store. As the customer fell, his head hit the side of a glass case. He eventually dies as a result of the injuries to his head.


QUESTION:


Which of the following would be an “uninsured motor vehicle

Uninsured motorist coverage does not apply to vehicles owned or operated by a self-insurer under any applicable motor vehicle law, except a self insurer which becomes insolvent.

Whose responsibility is it to see that a ship is seaworthy?

The ship owner is ultimately responsible to see that the ship is sea worthy. This is an implied warranty in ocean marine insurance.

Which one of the following situations illustrates “bodily injury”?

A customer tripped on a clothes hanger that was lying on the floor between display cases in a store. As the customer fell, his head hit the side of a glass case. He eventually dies as a result of the injuries to his head.


QUESTION:


Which of the following would be an “uninsured motor vehicle

Uninsured motorist coverage does not apply to vehicles owned or operated by a self-insurer under any applicable motor vehicle law, except a self insurer which becomes insolvent.

Whose responsibility is it to see that a ship is seaworthy?

The ship owner is ultimately responsible to see that the ship is sea worthy. This is an implied warranty in ocean marine insurance.

What coverage is provided under the BOP for a steam boiler explosion?

A steam boiler explosion that occurs inside the boiler is excluded. Separate equipment breakdown coverage is required.

Which one of the following situations illustrates “bodily injury”?

A customer tripped on a clothes hanger that was lying on the floor between display cases in a store. As the customer fell, his head hit the side of a glass case. He eventually dies as a result of the injuries to his head.


QUESTION:


Which of the following would be an “uninsured motor vehicle

Uninsured motorist coverage does not apply to vehicles owned or operated by a self-insurer under any applicable motor vehicle law, except a self insurer which becomes insolvent.

Whose responsibility is it to see that a ship is seaworthy?

The ship owner is ultimately responsible to see that the ship is sea worthy. This is an implied warranty in ocean marine insurance.

What coverage is provided under the BOP for a steam boiler explosion?

A steam boiler explosion that occurs inside the boiler is excluded. Separate equipment breakdown coverage is required.

Workers compensation insurance is a contract between:

Workers compensation coverage is a contract between the insurance company and the employer. It is the employer that contracts with the insurance company to provide the statutorily required workers compensation benefits for the injured employee.

Which one of the following situations illustrates “bodily injury”?

A customer tripped on a clothes hanger that was lying on the floor between display cases in a store. As the customer fell, his head hit the side of a glass case. He eventually dies as a result of the injuries to his head.


QUESTION:


Which of the following would be an “uninsured motor vehicle

Uninsured motorist coverage does not apply to vehicles owned or operated by a self-insurer under any applicable motor vehicle law, except a self insurer which becomes insolvent.

Whose responsibility is it to see that a ship is seaworthy?

The ship owner is ultimately responsible to see that the ship is sea worthy. This is an implied warranty in ocean marine insurance.

What coverage is provided under the BOP for a steam boiler explosion?

A steam boiler explosion that occurs inside the boiler is excluded. Separate equipment breakdown coverage is required.

Workers compensation insurance is a contract between:

Workers compensation coverage is a contract between the insurance company and the employer. It is the employer that contracts with the insurance company to provide the statutorily required workers compensation benefits for the injured employee.

Jim drives Linda's car. Both Jim and Linda have a Personal Auto Policy. Which of the following statements is CORRECT concerning coverage if Jim causes an accident?

Insurance follows the car. Therefore, Linda's policy would pay first and Jim's policy would be excess. Assume that Linda did not have physical damage coverage but Jim did. If Jim had an at fault accident with Linda's car, the physical damage would be paid under Jim's policy.

A company's promise to pay for damage caused by or resulting from a covered cause of loss would be found in which of the following sections of a Commercial Property Policy?

The perils covered in each of the three "cause of loss" forms constitute the insuring agreement.

A company's promise to pay for damage caused by or resulting from a covered cause of loss would be found in which of the following sections of a Commercial Property Policy?

The perils covered in each of the three "cause of loss" forms constitute the insuring agreement.

The death benefit under the New York no-fault plan is:

The death benefit under the New York no-fault law is $2,000

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

Which of the following policies would be used to cover imports and exports?

Ocean marine pertains to import and export risk, including the cargo being shipped as well as the vessel transporting goods or people

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

Which of the following policies would be used to cover imports and exports?

Ocean marine pertains to import and export risk, including the cargo being shipped as well as the vessel transporting goods or people

An insured has fabricated a claim that would appear to be legitimate. What kind of hazard would this act represent?

This is the type of hazard that exposes the morals of the individual because of the fraudulent act.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

Which of the following policies would be used to cover imports and exports?

Ocean marine pertains to import and export risk, including the cargo being shipped as well as the vessel transporting goods or people

An insured has fabricated a claim that would appear to be legitimate. What kind of hazard would this act represent?

This is the type of hazard that exposes the morals of the individual because of the fraudulent act.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

Which of the following liability coverages may require the insured's consent before the insurance company settles and pays a loss?

This usually applies to medical professional liability insurance. Today, most companies do not include this clause in their policies.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

Which of the following policies would be used to cover imports and exports?

Ocean marine pertains to import and export risk, including the cargo being shipped as well as the vessel transporting goods or people

An insured has fabricated a claim that would appear to be legitimate. What kind of hazard would this act represent?

This is the type of hazard that exposes the morals of the individual because of the fraudulent act.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

Which of the following liability coverages may require the insured's consent before the insurance company settles and pays a loss?

This usually applies to medical professional liability insurance. Today, most companies do not include this clause in their policies.

When is it allowed for a telemarketer to call to a person's home

Unless a telemarketer has a person's consent to do otherwise, it is a violation to make outbound telemarketing calls to a person's home outside the hours of 8:00 am and 9:00 pm.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

Which of the following policies would be used to cover imports and exports?

Ocean marine pertains to import and export risk, including the cargo being shipped as well as the vessel transporting goods or people

An insured has fabricated a claim that would appear to be legitimate. What kind of hazard would this act represent?

This is the type of hazard that exposes the morals of the individual because of the fraudulent act.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

Which of the following liability coverages may require the insured's consent before the insurance company settles and pays a loss?

This usually applies to medical professional liability insurance. Today, most companies do not include this clause in their policies.

When is it allowed for a telemarketer to call to a person's home

Unless a telemarketer has a person's consent to do otherwise, it is a violation to make outbound telemarketing calls to a person's home outside the hours of 8:00 am and 9:00 pm.

An insured purchased a 10-year-old building for $50,000 that would cost $100,000 to rebuild today. If the physical value of the building has depreciated $2,000 each year, the building's present actual cash value is:

In this situation, the building's present actual cash value is $80,000.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

Phillip suffers severe pain after exercising. His doctor prescribes an EMG. An EMG:

An EMG (electromyography) is a test which measures muscle response to nerve stimulation. It is used to evaluate muscle weakness and to determine is the weakness is related to the muscles themselves or a problem with the nerves that supply the muscles.

In a standard workers compensation insurance policy, premiums are based on which of the following?

Workers compensation premiums are based primarily on the employer’s work classification(s) and the annual payroll for each classification.

Vision care insurance is _______ under a group health insurance plan.

Vision care is an optional benefit offered under a group health insurance plan.

Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least:

The person must wait for one year to be eligible to reapply. There is no assurance that the Superintendent will consider a reissue of license due to the previous revocation.

Which of the following would be eligible to purchase a BOP

Only the six unit apartment building would be eligible for the BOP.

Which of the following would be excluded under Coverage E - Personal Liability of the homeowner forms? I. Business activities II. Use of aircraft III. Personal activities in Paris, France IV. Use of licensed motor vehicles

Personal liability coverage in homeowner policies applies to covered occurrences taking place anywhere in the world. There are several exclusions, however, such as "business activities" as defined in the policy, and the use of licensed motor vehicles and aircraft other than hobby aircraft.

Which of the following would qualify for a homeowner policy?

The homeowner policy is designed for owner occupied property and also the primary residence. Once coverage is in place on the residence premises, many companies will cover a seasonal dwelling if it meets their underwriting standards. A dwelling under construction by the insured can be covered but not for someone else to occupy. A rental dwelling would be covered under a dwelling policy and not a homeowner policy.

Mr. and Mrs. Smith own a building worth $100,000 and have it insured under three policies, each containing a pro-rata other insurance clause. Carrier A provides 10,000; carrier B provides 10,000, and carrier C provides 80,000. If there is a $20,000 fire loss, how will the claim be divided, if at all?

Since more than one policy covers the loss, the other insurance clause will be invoked, and each carrier will pay according to how its limit compares to the total amount of insurance in force. Carrier A writes 10% of the total, and would pay 10% of the loss, and so on.

Under the BOP, which type of business would not normally be eligible for coverage?


Manufacturers are not typically eligible for businessowner's policies.

Which of the following policies would be used to cover imports and exports?

Ocean marine pertains to import and export risk, including the cargo being shipped as well as the vessel transporting goods or people

An insured has fabricated a claim that would appear to be legitimate. What kind of hazard would this act represent?

This is the type of hazard that exposes the morals of the individual because of the fraudulent act.

The custom farming endorsement is usually attached to a farmowners policy when receipts exceed

The custom farming endorsement is used when a farmer is farming for others and the receipts exceed $5,000 per year.

Which of the following liability coverages may require the insured's consent before the insurance company settles and pays a loss?

This usually applies to medical professional liability insurance. Today, most companies do not include this clause in their policies.

When is it allowed for a telemarketer to call to a person's home

Unless a telemarketer has a person's consent to do otherwise, it is a violation to make outbound telemarketing calls to a person's home outside the hours of 8:00 am and 9:00 pm.

An insured purchased a 10-year-old building for $50,000 that would cost $100,000 to rebuild today. If the physical value of the building has depreciated $2,000 each year, the building's present actual cash value is:

In this situation, the building's present actual cash value is $80,000.


Because the Federal Employees Liability Act governs the Jones Act, the statute of limitations for a maritime injury is _____years from the date of the incident.

A suit must be brought within three years of the injury.

With long-term care insurance, the ability to transfer from a bed to a chair without assistance or from a chair to a bed is considered:

Transference is one of six activities of daily living (ADLs)that trigger benefits in LTC policies. The others are mobility, eating, dressing, bathing and continence.

The definition of robbery is

The definition of robbery is the taking of property from a messenger or custodian by violence, by putting that person in fear of violence, by any overt felonious act committed in their presence and of which they were cognizant, or have been killed or rendered unconscious.

Under Coverage E - Scheduled Farm Property, how is the property covered?

The property is covered for the limit shown on the declarations page of the policy for the property specifically scheduled.

The term "theft" is broad enough to cover:

Theft includes robbery, burglary and larceny as well as a mysterious disappearance where there is the presumption of theft. This is correct because theft provides the broadest definition of criminal activity.

Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.


Which of the following protects against legal liability for loss or damage to baggage?

Cargo liability protects against legal liability for loss or damage to cargo or baggage.

Fidelity bonds are used to cover

As the name implies fidelity bonds provide coverage for theft by an employee in a job related situation.

An umbrella policy without any special endorsements would NOT cover:

Uninsured motorists must be added by endorsement in order for the umbrella policy to cover this exposure.

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

If the insured carries a DP-2 dwelling form and insures the dwelling for 80% of its replacement cost value, what will he be paid if his 30 year old roof sustains $10,000 in damages (disregarding any deductible)?

If the insured carries 80% to value he would be entitled to full replacement cost coverage for his damaged roof.

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

If the insured carries a DP-2 dwelling form and insures the dwelling for 80% of its replacement cost value, what will he be paid if his 30 year old roof sustains $10,000 in damages (disregarding any deductible)?

If the insured carries 80% to value he would be entitled to full replacement cost coverage for his damaged roof.

Aircraft liability coverage is very similar to auto insurance coverage with which of following exceptions?

Liability to passengers is treated as a separate exposure. Coverage can be written to include or exclude passenger liability

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

If the insured carries a DP-2 dwelling form and insures the dwelling for 80% of its replacement cost value, what will he be paid if his 30 year old roof sustains $10,000 in damages (disregarding any deductible)?

If the insured carries 80% to value he would be entitled to full replacement cost coverage for his damaged roof.

Aircraft liability coverage is very similar to auto insurance coverage with which of following exceptions?

Liability to passengers is treated as a separate exposure. Coverage can be written to include or exclude passenger liability

Who determines legal liability?

In cases of litigation it is the court/jury/judge that determines legal liability.

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

If the insured carries a DP-2 dwelling form and insures the dwelling for 80% of its replacement cost value, what will he be paid if his 30 year old roof sustains $10,000 in damages (disregarding any deductible)?

If the insured carries 80% to value he would be entitled to full replacement cost coverage for his damaged roof.

Aircraft liability coverage is very similar to auto insurance coverage with which of following exceptions?

Liability to passengers is treated as a separate exposure. Coverage can be written to include or exclude passenger liability

Who determines legal liability?

In cases of litigation it is the court/jury/judge that determines legal liability.

A family health policy would normally extend coverage to which of the following?

Under new federal guidelines, adult children can be covered up to the age of 26 regardless of their student, marital or tax dependent status.

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

If the insured carries a DP-2 dwelling form and insures the dwelling for 80% of its replacement cost value, what will he be paid if his 30 year old roof sustains $10,000 in damages (disregarding any deductible)?

If the insured carries 80% to value he would be entitled to full replacement cost coverage for his damaged roof.

Aircraft liability coverage is very similar to auto insurance coverage with which of following exceptions?

Liability to passengers is treated as a separate exposure. Coverage can be written to include or exclude passenger liability

Who determines legal liability?

In cases of litigation it is the court/jury/judge that determines legal liability.

A family health policy would normally extend coverage to which of the following?

Under new federal guidelines, adult children can be covered up to the age of 26 regardless of their student, marital or tax dependent status.


Any misinformation provided by an applicant which is such that the insurance company would not have issued a policy if the true facts were known is:

This statement defines material misrepresentation, which is deliberately withholding an important fact that would have a bearing on the acceptability and/or pricing of the risk.

An insured had a $300,000 underlying liability policy and a $1 million umbrella liability policy with a $300,000 retained limit and a $2,000 self-insured retained limit. An occurrence resulted in $400,000 in personal injury damages which are not excluded by either policy. Shortly thereafter the insurer providing the underlying policy became insolvent. How much of the damages would be covered by the umbrella liability policy?

The fact that the underlying insurer became insolvent has no bearing on the retained limit. It would still pay the excess of $100,000 over the retained (underlying) limit of $300,000.

If the insured carries a DP-2 dwelling form and insures the dwelling for 80% of its replacement cost value, what will he be paid if his 30 year old roof sustains $10,000 in damages (disregarding any deductible)?

If the insured carries 80% to value he would be entitled to full replacement cost coverage for his damaged roof.

Aircraft liability coverage is very similar to auto insurance coverage with which of following exceptions?

Liability to passengers is treated as a separate exposure. Coverage can be written to include or exclude passenger liability

Who determines legal liability?

In cases of litigation it is the court/jury/judge that determines legal liability.

A family health policy would normally extend coverage to which of the following?

Under new federal guidelines, adult children can be covered up to the age of 26 regardless of their student, marital or tax dependent status.


Any misinformation provided by an applicant which is such that the insurance company would not have issued a policy if the true facts were known is:

This statement defines material misrepresentation, which is deliberately withholding an important fact that would have a bearing on the acceptability and/or pricing of the risk.

All of the following are true of group dental plans, EXCEPT

Adverse selection is an issue with group dental plans and is managed by implementing long probationary periods, evidence of insurability and/or increased participation percentages.

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Faulty wiring causes a fire that destroys an insured's home. In insurance terms, the faulty wiring is called a:

he faulty wiring would be called a hazard. A hazard is something that increases the probability of loss.

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Faulty wiring causes a fire that destroys an insured's home. In insurance terms, the faulty wiring is called a:

he faulty wiring would be called a hazard. A hazard is something that increases the probability of loss.

All of the following are methods of satisfying coverage for workers compensation in New York, EXCEPT:

Filing a property bond is not a method of complying with the workers compensation laws of New York

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Faulty wiring causes a fire that destroys an insured's home. In insurance terms, the faulty wiring is called a:

he faulty wiring would be called a hazard. A hazard is something that increases the probability of loss.

All of the following are methods of satisfying coverage for workers compensation in New York, EXCEPT:

Filing a property bond is not a method of complying with the workers compensation laws of New York

The BAP uses Symbol 7 to cover “specifically described autos” identified in the declarations. An auto acquired during the policy period will only be covered:

First the insured must insure all of their vehicles they own, or the auto replaces a covered auto. In either case the insured must notify the insurance company of the change.

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Faulty wiring causes a fire that destroys an insured's home. In insurance terms, the faulty wiring is called a:

he faulty wiring would be called a hazard. A hazard is something that increases the probability of loss.

All of the following are methods of satisfying coverage for workers compensation in New York, EXCEPT:

Filing a property bond is not a method of complying with the workers compensation laws of New York

The BAP uses Symbol 7 to cover “specifically described autos” identified in the declarations. An auto acquired during the policy period will only be covered:

First the insured must insure all of their vehicles they own, or the auto replaces a covered auto. In either case the insured must notify the insurance company of the change.

Unfair claims practices include all the following, EXCEPT:

The pursuit of a full release on all claims is the goal of all adjusters to add closure to a claim.

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Faulty wiring causes a fire that destroys an insured's home. In insurance terms, the faulty wiring is called a:

he faulty wiring would be called a hazard. A hazard is something that increases the probability of loss.

All of the following are methods of satisfying coverage for workers compensation in New York, EXCEPT:

Filing a property bond is not a method of complying with the workers compensation laws of New York

The BAP uses Symbol 7 to cover “specifically described autos” identified in the declarations. An auto acquired during the policy period will only be covered:

First the insured must insure all of their vehicles they own, or the auto replaces a covered auto. In either case the insured must notify the insurance company of the change.

Unfair claims practices include all the following, EXCEPT:

The pursuit of a full release on all claims is the goal of all adjusters to add closure to a claim.

The BOP is designed to cover all of the following, EXCEPT

The list of eligible risks for the BOP is rather narrow. Gas stations, garages and repair shops would not qualify.

Which of the following would not be addressed by a court in the determination of a declaratory judgment?

The court would not determine the fault or monetary judgment in the determination of a declaratory judgment.

Faulty wiring causes a fire that destroys an insured's home. In insurance terms, the faulty wiring is called a:

he faulty wiring would be called a hazard. A hazard is something that increases the probability of loss.

All of the following are methods of satisfying coverage for workers compensation in New York, EXCEPT:

Filing a property bond is not a method of complying with the workers compensation laws of New York

The BAP uses Symbol 7 to cover “specifically described autos” identified in the declarations. An auto acquired during the policy period will only be covered:

First the insured must insure all of their vehicles they own, or the auto replaces a covered auto. In either case the insured must notify the insurance company of the change.

Unfair claims practices include all the following, EXCEPT:

The pursuit of a full release on all claims is the goal of all adjusters to add closure to a claim.

The BOP is designed to cover all of the following, EXCEPT

The list of eligible risks for the BOP is rather narrow. Gas stations, garages and repair shops would not qualify.

A professional liability policy can be:

The professional liability policy is a “stand alone” separate policy that can be purchased for an additional premium.

What is the additional penalty an employer could pay for failure to report a serious work related injury to the Board and insurer within 10 days of the incident?

Failure to report within 10 days of an injury is a misdemeanor and punishable by a fine. In addition, the Board may impose a penalty of up to $2,500.

What is the additional penalty an employer could pay for failure to report a serious work related injury to the Board and insurer within 10 days of the incident?

Failure to report within 10 days of an injury is a misdemeanor and punishable by a fine. In addition, the Board may impose a penalty of up to $2,500.


After the insurance company receives the insured's signed sworn proof of loss under his Homeowner policy, the insurance company may do all of the following, EXCEPT:

The insurer is not obligated to accept abandoned property from the insured. It is entitled to the salvage when the insured is paid for the loss.

The insured owns a motorhome that is not covered by the insured's Personal Auto policy. This vehicle can be added to the policy by using which of the following endorsements?

The Miscellaneous Type Vehicle endorsement can be used to cover motorhomes, motorcycles, etc.

The insured owns a motorhome that is not covered by the insured's Personal Auto policy. This vehicle can be added to the policy by using which of the following endorsements?

The Miscellaneous Type Vehicle endorsement can be used to cover motorhomes, motorcycles, etc.

How many days does the liberalization clause provide for under the BOP prior to or during the policy?

“If we adopt any revision that would broaden the coverage under this policy without additional premium within forty-five days prior to or during the policy period, the broadened coverage will immediately apply to this policy.”

The insured owns a motorhome that is not covered by the insured's Personal Auto policy. This vehicle can be added to the policy by using which of the following endorsements?

The Miscellaneous Type Vehicle endorsement can be used to cover motorhomes, motorcycles, etc.

How many days does the liberalization clause provide for under the BOP prior to or during the policy?

“If we adopt any revision that would broaden the coverage under this policy without additional premium within forty-five days prior to or during the policy period, the broadened coverage will immediately apply to this policy.”

All of the following may be eligible for group insurance, EXCEPT

Group insurance is a benefit provided for employees of an employer. Usually, Boards of Directors and Board Chairmen are not employees. If or when they are employees, then they are eligible for coverage.

The insured owns a motorhome that is not covered by the insured's Personal Auto policy. This vehicle can be added to the policy by using which of the following endorsements?

The Miscellaneous Type Vehicle endorsement can be used to cover motorhomes, motorcycles, etc.

How many days does the liberalization clause provide for under the BOP prior to or during the policy?

“If we adopt any revision that would broaden the coverage under this policy without additional premium within forty-five days prior to or during the policy period, the broadened coverage will immediately apply to this policy.”

All of the following may be eligible for group insurance, EXCEPT

Group insurance is a benefit provided for employees of an employer. Usually, Boards of Directors and Board Chairmen are not employees. If or when they are employees, then they are eligible for coverage.

Group insurance is a benefit provided for employees of an employer. Usually, Boards of Directors and Board Chairmen are not employees. If or when they are employees, then they are eligible for coverage.

Group insurance is a benefit provided for employees of an employer. Usually, Boards of Directors and Board Chairmen are not employees. If or when they are employees, then they are eligible for coverage.

Which of the following would be covered under the property damage section of the uninsured motorist coverage?

Tapes, discs or other media.

Which of the following would be covered under the property damage section of the uninsured motorist coverage?

Tapes, discs or other media.

Basic personal injury protection pays for necessary medical, dental, hospital, and rehabilitation expenses up to:

These expenses are paid up to 100% subject to a maximum limit of $50,000.

Which of the following would be covered under the property damage section of the uninsured motorist coverage?

Tapes, discs or other media.

Basic personal injury protection pays for necessary medical, dental, hospital, and rehabilitation expenses up to:

These expenses are paid up to 100% subject to a maximum limit of $50,000.

A business adjacent to an insured's business is damaged by fire. Because of the damage to the adjoining property, the insured is denied access to his business by the fire department. The insured's Commercial Property policy contains a Business Income coverage form, the insurance company will cover the loss of business income:

Coverage is limited to only four weeks, after a waiting period of 72 hours. In some cases, the insurer will extend this provision for an additional premium.

Which of the following would be covered under the property damage section of the uninsured motorist coverage?

Tapes, discs or other media.

Basic personal injury protection pays for necessary medical, dental, hospital, and rehabilitation expenses up to:

These expenses are paid up to 100% subject to a maximum limit of $50,000.

A business adjacent to an insured's business is damaged by fire. Because of the damage to the adjoining property, the insured is denied access to his business by the fire department. The insured's Commercial Property policy contains a Business Income coverage form, the insurance company will cover the loss of business income:

Coverage is limited to only four weeks, after a waiting period of 72 hours. In some cases, the insurer will extend this provision for an additional premium.

In ocean marine insurance, what is the purpose of the IVEL clause?

The purpose of the IVEL clause is to provide excess hull and collision liability coverage.

Coverage for goods in transit is usually provided by which of the following types of insurance?

There are various types of transit coverage provided by inland marine insurance. None of the other forms mentioned would provide physical damage to cargo.

If the Superintendent finds a licensee guilty of unfair and deceptive acts, the penalty is:

The monetary penalty is in lieu of revocation or suspension of a license.

Coverage A of the Homeowners policy would provide coverage for all of the following, EXCEPT:

Structures connected by a fence or utility line would be covered under Coverage B - Other Structures. Coverage A provides the dwelling coverage under the Homeowners policy.

An insurer fails to respond to a letter from a claimant requesting information. This is in violation of

The insurer must reply within a specified number of working days to all pertinent communications from a claimant that reasonably suggests that a response is expected.

An insurer fails to respond to a letter from a claimant requesting information. This is in violation of

The insurer must reply within a specified number of working days to all pertinent communications from a claimant that reasonably suggests that a response is expected.

The principle of indemnity is designed to avoid

The principle of indemnity is to restore the insured to the same position, if possible, prior to the loss. Overpayment of a claim violates this principle.

An insurer fails to respond to a letter from a claimant requesting information. This is in violation of

The insurer must reply within a specified number of working days to all pertinent communications from a claimant that reasonably suggests that a response is expected.

The principle of indemnity is designed to avoid

The principle of indemnity is to restore the insured to the same position, if possible, prior to the loss. Overpayment of a claim violates this principle.

How is the property causes of loss changed from risks of "direct physical loss" to "named perils" coverage under the BOP?

The named peril endorsement must be attached to the policy.

The prefix "neo" refers to:

"Neo" refers to something that is new.

Hired car liability under the business auto policy will cover all of the following for liability, except

Hired car coverage does not apply to employees using their own vehicles on company business. This would be an employers non-owned auto coverage and would only protect the employer in case the employee had an at-fault accident while using the vehicle for company business.


Janet Feldman sells an apartment building to another party. A month later she is found negligent for the following incidents. Which claim(s) can be covered on Janet’s general liability policy?

A tenant loses his footing and is injured when a balcony railing snaps. Janet installed the railing just prior to the sale of the building.


Janet Feldman sells an apartment building to another party. A month later she is found negligent for the following incidents. Which claim(s) can be covered on Janet’s general liability policy?

A tenant loses his footing and is injured when a balcony railing snaps. Janet installed the railing just prior to the sale of the building.

All of the following are examples of the types of exclusions found in professional liability insurance policies, EXCEPT:

One of the purposes of this coverage is to provide protection for compensatory damages.


Janet Feldman sells an apartment building to another party. A month later she is found negligent for the following incidents. Which claim(s) can be covered on Janet’s general liability policy?

A tenant loses his footing and is injured when a balcony railing snaps. Janet installed the railing just prior to the sale of the building.

All of the following are examples of the types of exclusions found in professional liability insurance policies, EXCEPT:

One of the purposes of this coverage is to provide protection for compensatory damages.

In the ocean marine insurance, which of the following is considered to be the most important implied warranty?



I. Seaworthiness.


II. Condition of the cargo.


III. Legality.

I only.


All of the responses are implied warranties in ocean marine insurance. The most important is considered to be the seaworthiness of the vessel.


Janet Feldman sells an apartment building to another party. A month later she is found negligent for the following incidents. Which claim(s) can be covered on Janet’s general liability policy?

A tenant loses his footing and is injured when a balcony railing snaps. Janet installed the railing just prior to the sale of the building.

All of the following are examples of the types of exclusions found in professional liability insurance policies, EXCEPT:

One of the purposes of this coverage is to provide protection for compensatory damages.

In the ocean marine insurance, which of the following is considered to be the most important implied warranty?



I. Seaworthiness.


II. Condition of the cargo.


III. Legality.

I only.


All of the responses are implied warranties in ocean marine insurance. The most important is considered to be the seaworthiness of the vessel.

The manager of a grocery store has checked out the cash register and places the checks and money in a night depository bank bag. He places the bag on the desk and goes to the rear of the store to check the back door. When he returns the money bag is missing. This is an example of:

This is an example of the presumption of theft. Property is missing from a known place where the property should be. This would be the case because theft has the broadest definition of criminal activity.


Janet Feldman sells an apartment building to another party. A month later she is found negligent for the following incidents. Which claim(s) can be covered on Janet’s general liability policy?

A tenant loses his footing and is injured when a balcony railing snaps. Janet installed the railing just prior to the sale of the building.

All of the following are examples of the types of exclusions found in professional liability insurance policies, EXCEPT:

One of the purposes of this coverage is to provide protection for compensatory damages.

In the ocean marine insurance, which of the following is considered to be the most important implied warranty?



I. Seaworthiness.


II. Condition of the cargo.


III. Legality.

I only.


All of the responses are implied warranties in ocean marine insurance. The most important is considered to be the seaworthiness of the vessel.

The manager of a grocery store has checked out the cash register and places the checks and money in a night depository bank bag. He places the bag on the desk and goes to the rear of the store to check the back door. When he returns the money bag is missing. This is an example of:

This is an example of the presumption of theft. Property is missing from a known place where the property should be. This would be the case because theft has the broadest definition of criminal activity.

Under an airport premises policy, all of the following are excluded, EXCEPT:

A passenger slips on a step in the airport, this would be covered because the coverage applies to premises liability.


Janet Feldman sells an apartment building to another party. A month later she is found negligent for the following incidents. Which claim(s) can be covered on Janet’s general liability policy?

A tenant loses his footing and is injured when a balcony railing snaps. Janet installed the railing just prior to the sale of the building.

All of the following are examples of the types of exclusions found in professional liability insurance policies, EXCEPT:

One of the purposes of this coverage is to provide protection for compensatory damages.

In the ocean marine insurance, which of the following is considered to be the most important implied warranty?



I. Seaworthiness.


II. Condition of the cargo.


III. Legality.

I only.


All of the responses are implied warranties in ocean marine insurance. The most important is considered to be the seaworthiness of the vessel.

The manager of a grocery store has checked out the cash register and places the checks and money in a night depository bank bag. He places the bag on the desk and goes to the rear of the store to check the back door. When he returns the money bag is missing. This is an example of:

This is an example of the presumption of theft. Property is missing from a known place where the property should be. This would be the case because theft has the broadest definition of criminal activity.

Under an airport premises policy, all of the following are excluded, EXCEPT:

A passenger slips on a step in the airport, this would be covered because the coverage applies to premises liability.

Under the New York workers compensation law, the income benefits for a permanent or temporary disability are generally ____ of lost wages, subject to certain maximum and minimum weekly amounts.

The coverage is 66 2/3% of the lost wages.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

In order for a "release of all claims" to be valid, what MUST occur?

The claim check for damages must be cashed.

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

In order for a "release of all claims" to be valid, what MUST occur?

The claim check for damages must be cashed.

The purpose of the bid bond is to guaranty to the obligee that the contractor will enter into a contract for the bid price and provide a performance bond. The performance bond, issued by the surety, guarantees the obligee that the work will be completed per the terms of the contract with the contractor.

A surety which provides a bid bond to a contractor might also provide another bond if the contractor is awarded the contract. This bond is a:

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

In order for a "release of all claims" to be valid, what MUST occur?

The claim check for damages must be cashed.

The purpose of the bid bond is to guaranty to the obligee that the contractor will enter into a contract for the bid price and provide a performance bond. The performance bond, issued by the surety, guarantees the obligee that the work will be completed per the terms of the contract with the contractor.

A surety which provides a bid bond to a contractor might also provide another bond if the contractor is awarded the contract. This bond is a:

The benefits generally payable from an individual disability policy are received income tax free if the individual policy is purchased by individuals who pay the premium with after-tax-dollars, allowing for the benefits to be received income tax free.


Generally, the benefits paid from an individual disability income policy are:

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

A farm employee is covered while acting within the scope of his duties. Farming includes the incidental operation of roadside stands where farm products principally produced by the "insured" are sold.

A farm stand employee would be considered an insured under the liability section of a farm policy?

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

In order for a "release of all claims" to be valid, what MUST occur?

The claim check for damages must be cashed.

The purpose of the bid bond is to guaranty to the obligee that the contractor will enter into a contract for the bid price and provide a performance bond. The performance bond, issued by the surety, guarantees the obligee that the work will be completed per the terms of the contract with the contractor.

A surety which provides a bid bond to a contractor might also provide another bond if the contractor is awarded the contract. This bond is a:

The benefits generally payable from an individual disability policy are received income tax free if the individual policy is purchased by individuals who pay the premium with after-tax-dollars, allowing for the benefits to be received income tax free.


Generally, the benefits paid from an individual disability income policy are:

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

A farm employee is covered while acting within the scope of his duties. Farming includes the incidental operation of roadside stands where farm products principally produced by the "insured" are sold.

A farm stand employee would be considered an insured under the liability section of a farm policy?

What is the terms is used to indicate that the insurance company is the only party legally bound to perform its duties under the policy?

An insurance policy is one-sided or unilateral because only the insurance company is legally bound to perform its part of the agreement. If an insured pays a premium and a loss occurs, the insurer is legally bound to pay for the loss under the terms of the policy. However, insureds are not legally obligated to pay premiums. If an insured stop paying premiums, the insurance company can cancel the contract but it cannot sue the insured for breaking the contract. On the other hand, if an insured fails to comply with conditions and duties specified in the contract, the insurance company may deny an insured's claim.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

In order for a "release of all claims" to be valid, what MUST occur?

The claim check for damages must be cashed.

The purpose of the bid bond is to guaranty to the obligee that the contractor will enter into a contract for the bid price and provide a performance bond. The performance bond, issued by the surety, guarantees the obligee that the work will be completed per the terms of the contract with the contractor.

A surety which provides a bid bond to a contractor might also provide another bond if the contractor is awarded the contract. This bond is a:

The benefits generally payable from an individual disability policy are received income tax free if the individual policy is purchased by individuals who pay the premium with after-tax-dollars, allowing for the benefits to be received income tax free.


Generally, the benefits paid from an individual disability income policy are:

What legal principle states that an insurer would be prohibited from denying a claim that one of its adjusters said was covered

In legal terms, agents speak and act for the principals they represent. Since a company or staff adjuster is, legally speaking, an agent of the insurer, the statements, promises, and acts of the adjuster are considered to be the statements, promises, and acts of the insurer. Claimants rely on the statements made by adjusters. Estoppel would prohibit a principal (in this case the insurer) from denying the validity or truthfulness of statements made by its agent (in this case the adjuster). If a company or staff adjuster states that a claim is covered, the insurer would in all likelihood be prohibited (that is, be estopped) from denying the claim.

A farm employee is covered while acting within the scope of his duties. Farming includes the incidental operation of roadside stands where farm products principally produced by the "insured" are sold.

A farm stand employee would be considered an insured under the liability section of a farm policy?

What is the terms is used to indicate that the insurance company is the only party legally bound to perform its duties under the policy?

An insurance policy is one-sided or unilateral because only the insurance company is legally bound to perform its part of the agreement. If an insured pays a premium and a loss occurs, the insurer is legally bound to pay for the loss under the terms of the policy. However, insureds are not legally obligated to pay premiums. If an insured stop paying premiums, the insurance company can cancel the contract but it cannot sue the insured for breaking the contract. On the other hand, if an insured fails to comply with conditions and duties specified in the contract, the insurance company may deny an insured's claim.

Under the money orders and counterfeit money coverage insuring agreement, all would be covered, except:

Taking a bad check from a customer is not a covered loss under this crime form.

Under the farm forms, theft of certain types of property has a theft coverage limitation. The theft limitation on firearms and other related equipment is:

The theft limitation on firearms and other related equipment is $3,000.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under the Federal Fraud and False Statement Regulation of the United States Code (USC 1033) will be prosecuted by:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

In strict liability there is little if any defense. In most jurisdictions where strict liability is imposed, the defendant is held responsible whether or not he or she is negligent. Wayne had a duty to keep the dog restrained when open for business.

Wayne keeps a large police-trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer..

The insured’s $1 million umbrella liability policy says it will pay prejudgment interest when it is awarded. A suit against the insured resulted in a $1.5 million judgment awarded on January 1. On April 1, the insurer paid the full policy limits. On May 24, the insured paid the claimant $500,000. On what amount did the insurance company pay prejudgment interest?

The insurance company must pay, under supplementary payments, the prejudgment interest on that part of the judgment that they will pay. Therefore, they would pay the prejudgment interest on the $1,000,000.

he Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

he Equipment Breakdown coverage form covers "breakdown" to "covered equipment" that causes direct damage to "covered property" on the described premises. The latter term is defined as "any property owned by the insured, or property of others that is in the insured's care and for which the insured is legally liable."

Any property that the insured owns or is in the insured's care is covered.

In order for a "release of all claims" to be valid, what MUST occur?

The claim check for damages must be cashed.

The purpose of the bid bond is to guaranty to the obligee that the contractor will enter into a contract for the bid price and provide a performance bond. The performance bond, issued by the surety, guarantees the obligee that the work will be completed per the terms of the contract with the contractor.

A surety which provides a bid bond to a contractor might also provide another bond if the contractor is awarded the contract. This bond is a:

The benefits generally payable from an individual disability policy are received income tax free if the individual policy is purchased by individuals who pay the premium with after-tax-dollars, allowing for the benefits to be received income tax free.


Generally, the benefits paid from an individual disability income policy are:

Al has an umbrella liability policy which does not pay damages until such time as Al is legally obligated to pay them. This type of policy is known as:


Most insurance contracts are indemnification policies.