INSURANCE QUEEN THINGS TO KNOW FOR EXAM EXAM

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INSURANCE QUEEN THINGS TO KNOW FOR EXAM EXAM

QUESTIONS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -69 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Coverage F

Answer:

Medical Payments Not at fault Usually only $3,000 - $12,000

Question 2: For commercial how much is fire department services?

Answer:

$2,500

Question 3: Workers comp covers all of the following except?

Answer:

Legal fees for sewing the employer Question 4: What kind of a loss is it when you stay at a hotel after your house is burned down?

Answer:

Indirect loss

Question 5: When was the Disaster protect Act passed?

Answer:

1973

Question 6: Who is legally bound by a policy?

Answer:

Insurer Question 7: If you start selling insurance in Texas and continue to sell in Texas what does that make you?

Answer:

Domestic Domestic= means the insurer is incorporate and selling in this state Question 8: What if you are an insurance agent and your client has a weird home that is made at of straw bale structure?

Answer:

You at least give them a renters to cover their stuff Question 9: For which type of coverage is personal property and liability automatically included?

Answer:

Homeowners Question 10: The company is in Texas but they are selling in Arizona what does that make them?

Answer:

Foreign Foreign- means the insurer is selling in this state but they are incorporate in a different state Question 11: How much is outdoor property for commerical- radio, fence, tree, shrub, sign

Answer:

$2,500 in total $1,000 per 1 thing

Question 12: Who is named first?

Answer:

First named insured

Question 13: What makes HO2 and HO3 Different?

Answer:

The walls on the roof are open on an HO3

Question 14: Is additional insured on the declarations page?

Answer:

No but is it added by endorsements. Added in regard to a specific interest Additional Insured: Mortgage/ lien holder added via an endorsement in regard to a specific interest

Question 15: What is different between Ho3 & Ho5?

Answer:

HO5 is open all the way around and that is why HO5 is the best policy you can get

Question 16: Out of Dwelling and Homeowners' which does not include theft?

Answer:

Dwelling Question 17: My business card saying licensed agent before I get my P&C licensed and customers believe is an example of?

Answer:

Apparent Authority is assumed by the customer also knows as perceived authority

Question 18: What is the minimum amount of coverage for an umbrella policy?

Answer:

$500,000

Question 19: What part of the policy lists the rules a customer has to follow?

Answer:

Conditions

Question 20: Coverage C

Answer:

Personal Property / contents (not attached to the house) (50% of A) Couching, clothing

Question 21: Which HO numbers are Open perils?

Answer:

• & 5

Question 22: Theft

Answer:

Act of stealing; both burglary and robbery

Question 23: You added this endorsement to your policy what does it mean?

Answer:

Your premium has went up

Question 24: What part of the policy lists the duties of the insurer?

Answer:

Conditions

Question 25: BBBICEGOLF

Answer:

Bursting of heating systems Burglary Damage Breaking of Water heaters Ice, snow, or sleet Collapse of building or part of a building Electrical Damage Glass Breakage Objecting falling from outside Leakage of water or Stream damage Freezing of plumbing