Terms in this set (50)
it will pay 1,200
Berneice has 100,000 coverage under a commercial property policy with a building and personal property coverage form. she has a 1,000 deductible. she has a covered loss. the actual cash value of the loss is 1,800 and the replacement cost is 2,200. If she was NOT in compliance with the 80% coinsurance requirement, how will her policy respond?
radio and tv towers
A contractors equipment floater may be written to cover all of the following except:
no dollar limit / no time limit
medical expenses under workers compensation are subject to which of the following limitations?
robs policy will pay 3,000, and barb's will pay 2,000
rob and barb are neighbors. each has a personal auto policy with full pip and 1,000 in medical payments coverage. while driving barb to work in his car, rob has a not-at-fault accident. each has 2,500 in medical bills. how will the policies respond?
the 1/1/05 policy only
mr. jones purchases a claims-made policy on 1/1/04. the retro date is the policy inception date. he renews the policy on 1/1/05 with a retro date of 1/1/04. an injury occurs on 5/8/04, and the claim is made on 3/30/05. which policy will respond?
valuable papers and records
all of the following are optional coverages of the building and personal property coverage form EXCEPT:
it has no dollar limit and includes loss of rents and extra expense.
with respect to loss of income coverage in the Businessowners policy, which of the following statements is true?
value reporting coverage
the concept of "provisional amount" is used in conjuction with which of the folllowing optional coverages of the building and personal property coverage form?
loss of pay up to 50$ per day,
all of the following are correct supplementary payments under the CGL except:
all insurance carriers licensed in florida
many customers are concerned about residual' markets ability to pay claims. who is ultimately responsible for the operating results of the various residual markets?
I,III, AND IV
which of the following binders would require the insurer to provide the insured with a notice of cancellation if the insurer wanted to come off the risk ?
I. a 40 day binder for automobile coverage
II. a 40 day binder for homeowners coverage
III. a 70 day binder for automobile coverage
IV. a 70 day binder for homeowners coverage
monthly limit of indemnity
indirect loss coverage under boiler and machinery may be written in all of the following methods EXCEPT:
states where the insured begins operations after the workers compensation policy is written
in workers compensation insurance, part three, other states coverage, is designed to provide coverage for:
if he does not renew the option, the policy will again be subject to a coinsurance provision.
jonathan purchased the agreed value option on the building and personal property coverage form of his commercial property policy. which of the following is true?
it will pay 68,000
phillip has insured his warehouse for 150,000. due to a downturn in sales, it has been vacant for the last 3 months. if a fire causes 80,000 in damages to the warehouse, how will his policy respond? (ignore decuctibles and coinsurance)
fire legal liability
all liabilty endorsements apply to homeowners policies except:
medical payments coverage
all of the following coverages are available for commercial automobiles in the florida joint underwriting association except:
establishing and periodically reviewing companies, rules and rates
all of the following are responsibilities of the department of financial services except:
money paid for stock which was fake
outside the preimses covers all except:
it will pay nothing.
gina owns 2 cars. but only has 1 insured. while driving the uninsured car, she is injured in an accident. how will her pip coverage respond?
fair rental value
which of the following coverage is the automatically included in a DP-3, but not a DP-1?
Both forms cover the net loss caused by the damage.
With respect to Business Income Coverage, which of the following is true of BOTH coverage forms?
Builders Risk Coverage Form
A "Need for Adequate Insurance Clause" is commonly used in which of the following?
An attorney has Lawyers Professional Liability with 100/300 limits. How would his policy respond to a claim against him which creates the following expenses:
Defense Cost: $50,000
It covers costs not covered by Federal Medicare
What is the purpose of Medicare Supplement Insurance?
2% of Coverage A
The standard wind deductible on homeowner policies issued through the Citizens Property Insurance Corporation is:
All of the following coverages are available in policies issued though the Citizens Property Insurance Corporation EXCEPT:
Discovers dishonest act by employee
Employee Theft is cancelled at once if employer:
The Boiler and Machinery coverage form only
In Boiler and Machinery Insurance, the Object Definitions forms are used in conjunction with which of the following:
Damage to Your Auto Section
What part of a Personal Auto Policy provides benefits to any loss payee on the policy?
ptrippy who has properply insured his auto is involved in a accident, she has 30 grand in emergency medical bills, how much is he likely to recover if he sued the other driver.
an insured may purchase other than collision coverage without purchasing collision coverage.
Which of the following is true of part d coverage on a personal auto policy?
extra expense endorsement.
The boiler and machinery endorsement that allows the insured to recover monies required to recover the extra costs associated with maintaining normal business operations is known as:
Which is not an inland marine exclusion?
if a personal auto policy provides mandatory pip coverage, the insurer may cancel for non-payment for which of the following reasons?
I:payment is made by a dishonored check
II: insured did not pay additional premium
III: payment is made 3 days late
IV: payment is made 5 days late
how much is available to pay funeral expenses to an insured with the following?
-pip with a 1,000 dollar deductible
-part a liability coverage of 25/50/25
-2,000 medical payments coverage.
only the garage insurance policy has reporting provisions.
which of the following is true of the physical damage coverage under a business auto policy and a garage insurance policy?
removes dollar limit of coverage
the business income coverage form option, maximum period of indemnity changes the coverage form in all of the following ways EXCEPT:
a new business under the FWCJUA is assigned to what tier rating?
if any, how much would a new stereo system be covered for?
when written on a 90% coinsurance basis.
under which of the following would the building and personal property coverage form provide coverage extensions?
first 60 days
under florida law how long does an insurer have to cancel a new policy?
a DP-1 basic form covers all of the following EXCEPT:
if an automobile insurance policy is cancelled, how long does the insurer have to return any unearned premium to the insured?
need for adequate insurance
the provision in the builders risk coverage form that penalizes the insured for underinsurance is known as:
a car damaged when a carrier it is on jackknifes
carl has a garage insurance policy with dealers blanket coverage with collision and specified cause of loss coverage. which of the following would be excluded:
fair rental value
under DP-2 , which of the following is for an additional amount of insurance?
in the commercial property program, what endorsement provides specific increased property limits for a period of time specified on the endorsement?
in the building and personal property coverage form- special cause of loss form, the additional coverage for property in transit is:
20,000 for all injuries.
an insured has 3 autos insured on a personal auto policy. each has 10/20 non stacked uninsured motorist coverage. in the event of an accident in one of the cars, what is the maximum payout under the uninsured motorist coverage?
YOU MIGHT ALSO LIKE...
Series 7 Top-Off Exam Preparation | Knopman Marks Guide
Insurance Licensing - Chapter 13: Businessowners Coverage Form
Missed Q & A's