Question 1

Perils insured under Dwelling Property 1 (basic form) include which of the following?
I.Earthquake
II.Smoke

Accepted Answer

A)  I only 
B)  II only 
C)  both I and II 
D)  neither I nor II 
A)  I only 
B)  II only 
C)  both I and II 
D)  neither I nor II

Question 2

Reasons why an insured might add a scheduled personal property endorsement to a homeowners policy include which of the following?
I.To lower the premium by limiting the perils covered
II.To obtain higher limits for certain personal property

Accepted Answer

A)  I only 
B)  II only 
C)  both I and II 
D)  neither I nor II 
A)  I only 
B)  II only 
C)  both I and II 
D)  neither I nor II

Question 3

Tina purchased a personal umbrella policy with a $1 million limit. Her insurer required her to carry liability limits of 250/500/50 under her auto insurance policy. The personal umbrella policy was written with a $1,000 self-insured retention. Tina was responsible for an auto accident in which the other driver was severely injured. The other driver's bodily injuries were $400,000 and the property damage was $20,000. How much will the insurer pay under Tina's umbrella policy?

Accepted Answer

A)  nothing 
B)  $149,000 
C)  $150,000 
D)  $170,000 
A)  nothing 
B)  $149,000 
C)  $150,000 
D)  $170,000

Question 4

Under the ISO program, a mobile home can be insured by

Accepted Answer

A)  adding the appropriate endorsement to the ISO personal auto insurance policy. 
B)  using an ISO floater policy. 
C)  adding the appropriate endorsement to an ISO Homeowner 2 or Homeowners 3 form. 
D)  using an ISO inland marine form. 
A)  adding the appropriate endorsement to the ISO personal auto insurance policy. 
B)  using an ISO floater policy. 
C)  adding the appropriate endorsement to an ISO Homeowner 2 or Homeowners 3 form. 
D)  using an ISO inland marine form.

Question 5

Frank purchased a building in a run-down area of a city. When Frank was unable to obtain property insurance in the voluntary insurance market, an agent suggested that he contact a state pool created in the 1960s that makes property insurance available in riot-prone areas. The state pool the agent referred to is called a(n)

Accepted Answer

A)  unsatisfied judgment fund. 
B)  FAIR plan. 
C)  guaranty fund plan. 
D)  assigned risk plan. 
A)  unsatisfied judgment fund. 
B)  FAIR plan. 
C)  guaranty fund plan. 
D)  assigned risk plan.

Question 6

All of the following statements about the boatowners package policy are true EXCEPT

Accepted Answer

A)  Physical damage coverage for the boat is usually written to cover all losses except those losses specifically excluded. 
B)  Liability coverage is provided for bodily injury only. 
C)  Some policies provide optional uninsured boaters coverage. 
D)  Medical payments coverage for water-skiers is available under the policy. 
A)  Physical damage coverage for the boat is usually written to cover all losses except those losses specifically excluded. 
B)  Liability coverage is provided for bodily injury only. 
C)  Some policies provide optional uninsured boaters coverage. 
D)  Medical payments coverage for water-skiers is available under the policy.

Question 7

Which of the following statements about types of property covered under the Personal Articles Floater is true?

Accepted Answer

A)  Golfer's equipment is covered only in the United States. 
B)  Furs are covered on a blanket basis without the necessity to schedule individual items. 
C)  A higher premium must be paid to insure musical instruments if they are played for pay. 
D)  Coverage for silverware and goldware is not available under the Personal Articles Floater. 
A)  Golfer's equipment is covered only in the United States. 
B)  Furs are covered on a blanket basis without the necessity to schedule individual items. 
C)  A higher premium must be paid to insure musical instruments if they are played for pay. 
D)  Coverage for silverware and goldware is not available under the Personal Articles Floater.

Perils insured under Dwelling Property 1 (basic form) include which of the following? I.Earthquake II.Smoke

Reasons why an insured might add a scheduled personal property endorsement to a homeowners policy include which of the following? I.To lower the premium by limiting the perils covered II.To obtain higher limits for certain personal property

Under the ISO program, a mobile home can be insured by

All of the following statements about the boatowners package policy are true EXCEPT

Which of the following statements about types of property covered under the Personal Articles Floater is true?

Risk and Its Treatment

Insurance and Risk

Introduction to Risk Management

Enterprise Risk Management and Related Topics

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Government Regulation of Insurance

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Life Insurance Contractual Provisions

Buying Life Insurance

Annuities and Individual Retirement Accounts

Health-Care Reform; Individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Auto Insurance

Auto Insurance (continued)

Homeowners Insurance, Section I

Homeowners Insurance, Section II

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters

Exam 24: Other Property and Liability Insurance Coverages

Perils insured under Dwelling Property 1 (basic form) include which of the following? I.Earthquake II.Smoke

Reasons why an insured might add a scheduled personal property endorsement to a homeowners policy include which of the following? I.To lower the premium by limiting the perils covered II.To obtain higher limits for certain personal property

Under the ISO program, a mobile home can be insured by

All of the following statements about the boatowners package policy are true EXCEPT

Which of the following statements about types of property covered under the Personal Articles Floater is true?

Risk and Its Treatment

Insurance and Risk

Introduction to Risk Management

Enterprise Risk Management and Related Topics

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Government Regulation of Insurance

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Life Insurance Contractual Provisions

Buying Life Insurance

Annuities and Individual Retirement Accounts

Health-Care Reform; Individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Auto Insurance

Auto Insurance (continued)

Homeowners Insurance, Section I

Homeowners Insurance, Section II

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters