New Hampshire Property & Casualty Questions with accurate
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detailed solutions ||
What is true about controlled forms? - correct answer✔✔These forms are usually issued
|| || || || || || || || || || || || ||
according to published rules and rates || || || || ||
When will an insurance company pay damages on behalf of an insured under a CGL policy?
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- correct answer✔✔when the company determines that the insured is legally liable
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A loss reserving method that establishes aggregate reserves for all claims for a single type of
|| || || || || || || || || || || || || || || ||
insurance is known as - correct answer✔✔Loss ratio method || || || || || || || ||
What is a "board foot" ? - correct answer✔✔A piece of lumber 12" wide by 1' long by 1"
|| || || || || || || || || || || || || || || || || || ||
thick - this is a unit of measurement to calculate pricing
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In New Hampshire, every insurer, upon notice of a claim, must acknowledge the receipt of
|| || || || || || || || || || || || || || ||
such notice in writhing within: - correct answer✔✔10 days
|| || || || || || || ||
A customer is injured on the insured's premises and the insured is not found legally liable.
|| || || || || || || || || || || || || || || ||
The insured carries a Commercial General Liability policy. Which of the following CGL
|| || || || || || || || || || || || ||
coverages would apply to cover the customer's injuries? - correct answer✔✔Medical
|| || || || || || || || || || ||
payments
All of the following are covered under the "supplementary payments" section of a
|| || || || || || || || || || || || ||
Commercial General Liability policy, EXCEPT || || || ||
Court costs. || ||
Costs incurred by the insurer in investigating the claim.
|| || || || || || || || ||
,Insured's loss of earnings incurred at insurer's request. || || || || || || ||
Costs of repair service performed on personal property at the scene of the accident. - correct
|| || || || || || || || || || || || || || || ||
answer✔✔Costs of repair service performed on personal property at the scene of the || || || || || || || || || || || || ||
accident.
Which of the following would be required to obtain an adjuster's license in New
|| || || || || || || || || || || || || ||
Hampshire?
An attorney|| ||
Claims processed by a salaried office employee
|| || || || || || ||
A person that adjusts automobile claims
|| || || || || ||
A licensed company insurance agent - correct answer✔✔A person that adjusts automobile
|| || || || || || || || || || || ||
claims
What is the maximum limit that can be paid on a property or casualty claim under the New
|| || || || || || || || || || || || || || || || || ||
Hampshire Insurance Guaranty Association? - correct answer✔✔$300,000 - Claims in || || || || || || || || || ||
excess of $50.00 that do not exceed $300,000 can be paid by the New Hampshire Guaranty
|| || || || || || || || || || || || || || || ||
Association.
Marty has full coverage under a standard Personal Auto policy for the three cars he owns.
|| || || || || || || || || || || || || || || ||
He and the members of his household are covered as insureds under the policy. Marty's 16-
|| || || || || || || || || || || || || || ||
year-old son Gordy, spends the weekend at his friend Steve's home and during the visit,
|| || || || || || || || || || || || || || ||
drives one of Steve's family's cars with permission. Gordy has an accident and he is at-fault
|| || || || || || || || || || || || || || || ||
for bodily injury to others. Which of the following statements best describes how this claim
|| || || || || || || || || || || || || || ||
will be paid? || ||
Part A - Liability of both Marty's and Steve's family's policy will pay for their portion of the
|| || || || || || || || || || || || || || || || || ||
claim "pro-rata" ||
||
Marty will have to pay for the claims out-of-pocket because Gordy is not covered under
|| || || || || || || || || || || || || || ||
Marty's policy or Steve's family's policy. || || || || || ||
,Part A - Liability of Steve's family's policy will pay the entire claim and Marty's policy will
|| || || || || || || || || || || || || || || || ||
not apply.
|| ||
Part A - Liability of Steve's parents policy will be primary and the Part A - Liability section
|| || || || || || || || || || || || || || || || || ||
of Marty - correct answer✔✔Part A - Liability of Steve's parents policy will be primary and
|| || || || || || || || || || || || || || || ||
the Part A - Liability section of Marty's policy will be excess to pay the claim.
|| || || || || || || || || || || || || || ||
Angie has suffered an automobile physical damage loss. All of the following are the
|| || || || || || || || || || || || || ||
insured's duties after a loss under Angie's Personal Automobile policy, EXCEPT:
|| || || || || || || || || ||
Take reasonable steps after the loss to protect the property from further damage.
|| || || || || || || || || || || || ||
Promptly notify the police if the vehicle is stolen. || || || || || || || || ||
Allow the insurer to inspect and appraise the damaged property.
|| || || || || || || || || ||
Facilitate the repairs to the vehicle and submit the invoice to the insurer - correct
|| || || || || || || || || || || || || || ||
answer✔✔Facilitate the repairs to the vehicle and submit the invoice to the insurer - The || || || || || || || || || || || || || || ||
insured is not permitted to make repairs on the vehicle until after the vehicle has been
|| || || || || || || || || || || || || || || ||
inspected and/or appraised and an agreement as to the damages has been reached with the
|| || || || || || || || || || || || || || ||
insurer.
Conrad is a contractor with Builders' Risk coverage written on a reported value basis on his
|| || || || || || || || || || || || || || || ||
current construction job. He started clearing the land on May 1st, digging the basement on
|| || || || || || || || || || || || || || ||
May 13th, pouring the foundation on May 31st, blocking the basement walls on June 5th,
|| || || || || || || || || || || || || || ||
flooring the first floor above the basement on June 15th, and constructing the walls of the
|| || || || || || || || || || || || || || || ||
first floor on June 30th. When did Conrad's Builders' Risk policy begin providing coverage?
|| || || || || || || || || || || || ||
, June 5th. || ||
June 15th. || ||
May 1st. || ||
May 13th. - correct answer✔✔If a Builders' Risk form is written on a reported value basis
|| || || || || || || || || || || || || || || ||
and the building includes a basement, coverage begins on the date construction begins on
|| || || || || || || || || || || || || ||
the lowest floor that will be located above the basement. In this scenario, this would be on
|| || || || || || || || || || || || || || || || ||
June 15th. ||
Gavin, the named insured under a Personal Auto policy, his daughter Tabitha, and two of
|| || || || || || || || || || || || || || ||
her friends are riding in the covered auto when Gavin accidentally runs a stop sign, striking
|| || || || || || || || || || || || || || || ||
another vehicle. Everyone in Gavin's vehicle was injured as well as the driver and two
|| || || || || || || || || || || || || || ||
passengers in the other car. Who would be covered for their injuries under Part A of Gavin's
|| || || || || || || || || || || || || || || || ||
policy?
Gavin and Tabitha. || || ||
Gavin, Tabitha, and Tabitha's friends.
|| || || || ||
Gavin, Tabitha, Tabitha's friends, the driver and passengers in the other car.
|| || || || || || || || || || || ||
The driver and passengers in the other car. - correct answer✔✔The driver and passengers in
|| || || || || || || || || || || || || ||
the other car
|| || ||
Sebastian throws a roast in the oven and decides to go to the movies, thinking that he has
|| || || || || || || || || || || || || || || || || ||
plenty of time before roast will be fully cooked. After the movie, he is caught behind a car
|| || || || || || || || || || || || || || || || || ||
accident and it takes him several hours to get home. When Sebastian finally arrives home,
|| || || || || || || || || || || || || || ||
the roast is completely blackened and the contents of his home are thoroughly covered in
|| || || || || || || || || || || || || || ||
soot from the smoke. Which of the following statements is true regarding how this claim
|| || || || || || || || || || || || || || ||
would be handled under a Homeowners policy?
|| || || || || ||
The loss would be covered under the peril of fire
|| || || || || || || || ||
. ||
The loss would not covered because the peril of smoke is excluded.
|| || || || || || || || || || || ||
|| || || || || || || ||
detailed solutions ||
What is true about controlled forms? - correct answer✔✔These forms are usually issued
|| || || || || || || || || || || || ||
according to published rules and rates || || || || ||
When will an insurance company pay damages on behalf of an insured under a CGL policy?
|| || || || || || || || || || || || || || ||
- correct answer✔✔when the company determines that the insured is legally liable
|| || || || || || || || || || || ||
A loss reserving method that establishes aggregate reserves for all claims for a single type of
|| || || || || || || || || || || || || || || ||
insurance is known as - correct answer✔✔Loss ratio method || || || || || || || ||
What is a "board foot" ? - correct answer✔✔A piece of lumber 12" wide by 1' long by 1"
|| || || || || || || || || || || || || || || || || || ||
thick - this is a unit of measurement to calculate pricing
|| || || || || || || || || ||
In New Hampshire, every insurer, upon notice of a claim, must acknowledge the receipt of
|| || || || || || || || || || || || || || ||
such notice in writhing within: - correct answer✔✔10 days
|| || || || || || || ||
A customer is injured on the insured's premises and the insured is not found legally liable.
|| || || || || || || || || || || || || || || ||
The insured carries a Commercial General Liability policy. Which of the following CGL
|| || || || || || || || || || || || ||
coverages would apply to cover the customer's injuries? - correct answer✔✔Medical
|| || || || || || || || || || ||
payments
All of the following are covered under the "supplementary payments" section of a
|| || || || || || || || || || || || ||
Commercial General Liability policy, EXCEPT || || || ||
Court costs. || ||
Costs incurred by the insurer in investigating the claim.
|| || || || || || || || ||
,Insured's loss of earnings incurred at insurer's request. || || || || || || ||
Costs of repair service performed on personal property at the scene of the accident. - correct
|| || || || || || || || || || || || || || || ||
answer✔✔Costs of repair service performed on personal property at the scene of the || || || || || || || || || || || || ||
accident.
Which of the following would be required to obtain an adjuster's license in New
|| || || || || || || || || || || || || ||
Hampshire?
An attorney|| ||
Claims processed by a salaried office employee
|| || || || || || ||
A person that adjusts automobile claims
|| || || || || ||
A licensed company insurance agent - correct answer✔✔A person that adjusts automobile
|| || || || || || || || || || || ||
claims
What is the maximum limit that can be paid on a property or casualty claim under the New
|| || || || || || || || || || || || || || || || || ||
Hampshire Insurance Guaranty Association? - correct answer✔✔$300,000 - Claims in || || || || || || || || || ||
excess of $50.00 that do not exceed $300,000 can be paid by the New Hampshire Guaranty
|| || || || || || || || || || || || || || || ||
Association.
Marty has full coverage under a standard Personal Auto policy for the three cars he owns.
|| || || || || || || || || || || || || || || ||
He and the members of his household are covered as insureds under the policy. Marty's 16-
|| || || || || || || || || || || || || || ||
year-old son Gordy, spends the weekend at his friend Steve's home and during the visit,
|| || || || || || || || || || || || || || ||
drives one of Steve's family's cars with permission. Gordy has an accident and he is at-fault
|| || || || || || || || || || || || || || || ||
for bodily injury to others. Which of the following statements best describes how this claim
|| || || || || || || || || || || || || || ||
will be paid? || ||
Part A - Liability of both Marty's and Steve's family's policy will pay for their portion of the
|| || || || || || || || || || || || || || || || || ||
claim "pro-rata" ||
||
Marty will have to pay for the claims out-of-pocket because Gordy is not covered under
|| || || || || || || || || || || || || || ||
Marty's policy or Steve's family's policy. || || || || || ||
,Part A - Liability of Steve's family's policy will pay the entire claim and Marty's policy will
|| || || || || || || || || || || || || || || || ||
not apply.
|| ||
Part A - Liability of Steve's parents policy will be primary and the Part A - Liability section
|| || || || || || || || || || || || || || || || || ||
of Marty - correct answer✔✔Part A - Liability of Steve's parents policy will be primary and
|| || || || || || || || || || || || || || || ||
the Part A - Liability section of Marty's policy will be excess to pay the claim.
|| || || || || || || || || || || || || || ||
Angie has suffered an automobile physical damage loss. All of the following are the
|| || || || || || || || || || || || || ||
insured's duties after a loss under Angie's Personal Automobile policy, EXCEPT:
|| || || || || || || || || ||
Take reasonable steps after the loss to protect the property from further damage.
|| || || || || || || || || || || || ||
Promptly notify the police if the vehicle is stolen. || || || || || || || || ||
Allow the insurer to inspect and appraise the damaged property.
|| || || || || || || || || ||
Facilitate the repairs to the vehicle and submit the invoice to the insurer - correct
|| || || || || || || || || || || || || || ||
answer✔✔Facilitate the repairs to the vehicle and submit the invoice to the insurer - The || || || || || || || || || || || || || || ||
insured is not permitted to make repairs on the vehicle until after the vehicle has been
|| || || || || || || || || || || || || || || ||
inspected and/or appraised and an agreement as to the damages has been reached with the
|| || || || || || || || || || || || || || ||
insurer.
Conrad is a contractor with Builders' Risk coverage written on a reported value basis on his
|| || || || || || || || || || || || || || || ||
current construction job. He started clearing the land on May 1st, digging the basement on
|| || || || || || || || || || || || || || ||
May 13th, pouring the foundation on May 31st, blocking the basement walls on June 5th,
|| || || || || || || || || || || || || || ||
flooring the first floor above the basement on June 15th, and constructing the walls of the
|| || || || || || || || || || || || || || || ||
first floor on June 30th. When did Conrad's Builders' Risk policy begin providing coverage?
|| || || || || || || || || || || || ||
, June 5th. || ||
June 15th. || ||
May 1st. || ||
May 13th. - correct answer✔✔If a Builders' Risk form is written on a reported value basis
|| || || || || || || || || || || || || || || ||
and the building includes a basement, coverage begins on the date construction begins on
|| || || || || || || || || || || || || ||
the lowest floor that will be located above the basement. In this scenario, this would be on
|| || || || || || || || || || || || || || || || ||
June 15th. ||
Gavin, the named insured under a Personal Auto policy, his daughter Tabitha, and two of
|| || || || || || || || || || || || || || ||
her friends are riding in the covered auto when Gavin accidentally runs a stop sign, striking
|| || || || || || || || || || || || || || || ||
another vehicle. Everyone in Gavin's vehicle was injured as well as the driver and two
|| || || || || || || || || || || || || || ||
passengers in the other car. Who would be covered for their injuries under Part A of Gavin's
|| || || || || || || || || || || || || || || || ||
policy?
Gavin and Tabitha. || || ||
Gavin, Tabitha, and Tabitha's friends.
|| || || || ||
Gavin, Tabitha, Tabitha's friends, the driver and passengers in the other car.
|| || || || || || || || || || || ||
The driver and passengers in the other car. - correct answer✔✔The driver and passengers in
|| || || || || || || || || || || || || ||
the other car
|| || ||
Sebastian throws a roast in the oven and decides to go to the movies, thinking that he has
|| || || || || || || || || || || || || || || || || ||
plenty of time before roast will be fully cooked. After the movie, he is caught behind a car
|| || || || || || || || || || || || || || || || || ||
accident and it takes him several hours to get home. When Sebastian finally arrives home,
|| || || || || || || || || || || || || || ||
the roast is completely blackened and the contents of his home are thoroughly covered in
|| || || || || || || || || || || || || || ||
soot from the smoke. Which of the following statements is true regarding how this claim
|| || || || || || || || || || || || || || ||
would be handled under a Homeowners policy?
|| || || || || ||
The loss would be covered under the peril of fire
|| || || || || || || || ||
. ||
The loss would not covered because the peril of smoke is excluded.
|| || || || || || || || || || || ||
