Hawaii Insurance exam Latest Update -

Hawaii Insurance exam Latest Update - Actual Exam with 170 Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor

A building valued at $100,000 was insured for $80,000 with a policy containing 80% co- insurance. How much would the insurance pay for a loss of $80,000? - CORRECT

ANSWER: $80,000

A cancellation notice for nonpayment of premiums of a motor vehicle policy must be provided in at least: - CORRECT ANSWER: 20 days

A contract whereby one undertakes to indemnify the other: - CORRECT ANSWER: Insurance

A person who acts on behalf of an insurance company is called: - CORRECT ANSWER: An independent adjuster

A person who license is revoked or suspended is required to provide: - CORRECT

ANSWER: Proof of financial responsibility

A standardized set of agreements offered by one party to another on a take it or leave it

basis - CORRECT ANSWER: an adhesion contract

A statement given by an insured following a loss is called: - CORRECT ANSWER: Proof of loss

After a loss has been paid, what belongs to the insurance company? - CORRECT

ANSWER: Salvage

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An agreement between an insured and the insurer that certain conditions will be met is called a: - CORRECT ANSWER: Warranty

An employee taking money or property away from the premises: - CORRECT

ANSWER: Messenger

An employee will receive what % of their average weekly earnings for a total disability

from a work injury? (up to the state avg weekly wage) - CORRECT ANSWER: 66.7%

An expired producer's license may be reinstated within how many months of the due

date? - CORRECT ANSWER: 12 months

An insurance company that is formed in Canada would be: - CORRECT ANSWER: Alien

An insured buys a CLP on a building and fails (purposefully) to tell her agent he only owns 50% of the building is an example of: - CORRECT ANSWER: Concealment

An order and notice of commissioner will not be effective unless: - CORRECT

ANSWER: Signed by the Commissioner or under the Commissioner's authority

At least how many days of notice must be filed before the cancellations of workers'

comp insurance contracts? - CORRECT ANSWER: 10 days

Covers the driver if they are involved in an accident with another uninsured person or if

the party is covered but not according to the states required limits: - CORRECT

ANSWER: UM or UIM will be primary

Employers must report workers' comp losses to the Director of Labor within: -

CORRECT ANSWER: 7 days

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Excess coverage over underlying insurance: - CORRECT ANSWER: Also provides broader coverage than most underlying coverage

Failure to acknowledge claims within a reasonable time: - CORRECT ANSWER: Unfair claims practice

For a temporary partial disability, benefits are what % of the difference between wages

before and after the injury? - CORRECT ANSWER: 66.7%

For how many years must a licensed surplus lines broker keep records after a contract

termination? - CORRECT ANSWER: 5 years

Forcible removal of property from a messenger through the threat of violence is called: -

CORRECT ANSWER: Robbery

Hawaii public adjusters are required to post a: - CORRECT ANSWER: $10,000 bond

HO6 Covers: - CORRECT ANSWER: Condos

Homeowners liability will pay for all of the following: - CORRECT ANSWER: The homeowner damage to the neighbors window

House valued at $100K, insured for $80K. If the house burned down and debris removal

was $15K, how much would the insurer pay? - CORRECT ANSWER: $85K

How long should an insured keep records in a business? - CORRECT ANSWER: 5

years

How many days do violators of Insurance Code have to pay any fines received? -

CORRECT ANSWER: 10 days

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