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Terms in this set (297)
,uestion:
Riley's Rivispins, Inc. has had a theft loss that resulted in damage
to their warehouse. When the insurer finds that Riley's warehouse
has been vacant for more than 60 days, how will this claim under
Riley's Businessowner's policy be paid?
The claim will be denied because theft under these circumstances
is specifically excluded by the policy.
The amount of the claim will be reduced by 15% as specified in the
policy.
The claim will be paid in full because theft is a covered cause of
loss under a Businessowners policy.
The claim will be reduced by 50% as specified in the policy.
Answer Choices:
Select the Correct Answer
The claim will be denied because theft under these circumstances
is specifically excluded by the policy.
Question:
According to Regulation 64 of the New York Code of Regulations
governing the adjustment of total losses, a vehicle of the "current
model year" can include:
An automobile of the previous model year if it was purchased new
within 90 days prior to the loss.
An automobile of the current model year even if it has been
replaced by an officially introduced succeeding model.
An automobile of the previous model year if it was purchased new
within 60 days prior to the loss.
An automobile of the current model year only if it was purchased
new at least 90 days prior to the loss.
An automobile of the current model year only if it was purchased
new at least 90 days prior to the loss.
,Question:
The DP-1 basic form peril of "internal explosion" will cover which of
the following losses?
The explosion of a furnace that the insured owns that is located
inside the covered dwelling.
The explosion of a steam boiler the insured owns that is located
inside the covered dwelling.
The explosion of an oil tank located in the yard behind the covered
dwelling.
The explosion of a central air conditioning unit that is located on a
concrete pad behind the insured dwelling.
The explosion of a furnace that the insured owns that is located
inside the covered dwelling.
Question:
Insuring Agreement 7 - Money Orders and Counterfeit Money
provides coverage in which of the following countries?
Mexico.
Canada.
Any country.
The United States.
Any country.
Question:
All of the following are important functions of a vehicles exhaust
system, EXCEPT:
Controls pollution through the use of the catalytic converter.
Ignites the fuel to power the vehicle.
Carries gases away from the engine.
Quiets the engine through the use of a muffler.
Ignites the fuel to power the vehicle.
, Question:
Because a Homeowners policy provides both property and liability
coverage in a single policy, the policy is called:
A double indemnity policy.
A mono-line policy.
A multi-line policy.
A modified policy.
A multi-line policy.
Question:
If an insured carries Coverage C under a Dwelling policy, how
much coverage applies off the insured premises (world-wide
basis)?
10% of the Coverage C limit.
25% of the Coverage C limit.
40% of the Coverage C limit.
50% of the Coverage C limit.
10% of the Coverage C limit.
Question:
The Ordinance or Law Endorsement to a Homeowners policy is
used:
To provide coverage for any accidental spillage of pollutants on the
insured premises.
To provide coverage for the insured's liability for actions committed
on the insured premises that are against the law.
To provide ordinance or law coverage for an HO-8 form because it
is the only HO form that does not already include this coverage on
the form.
To provide coverage over and above what is already provided on
the Homeowners forms.
To provide coverage over and above what is already provided on
the Homeowners forms.
N
e
w
Y
o
r
k
L
i
c
e
n
s
e
Terms in this set (297)
,uestion:
Riley's Rivispins, Inc. has had a theft loss that resulted in damage
to their warehouse. When the insurer finds that Riley's warehouse
has been vacant for more than 60 days, how will this claim under
Riley's Businessowner's policy be paid?
The claim will be denied because theft under these circumstances
is specifically excluded by the policy.
The amount of the claim will be reduced by 15% as specified in the
policy.
The claim will be paid in full because theft is a covered cause of
loss under a Businessowners policy.
The claim will be reduced by 50% as specified in the policy.
Answer Choices:
Select the Correct Answer
The claim will be denied because theft under these circumstances
is specifically excluded by the policy.
Question:
According to Regulation 64 of the New York Code of Regulations
governing the adjustment of total losses, a vehicle of the "current
model year" can include:
An automobile of the previous model year if it was purchased new
within 90 days prior to the loss.
An automobile of the current model year even if it has been
replaced by an officially introduced succeeding model.
An automobile of the previous model year if it was purchased new
within 60 days prior to the loss.
An automobile of the current model year only if it was purchased
new at least 90 days prior to the loss.
An automobile of the current model year only if it was purchased
new at least 90 days prior to the loss.
,Question:
The DP-1 basic form peril of "internal explosion" will cover which of
the following losses?
The explosion of a furnace that the insured owns that is located
inside the covered dwelling.
The explosion of a steam boiler the insured owns that is located
inside the covered dwelling.
The explosion of an oil tank located in the yard behind the covered
dwelling.
The explosion of a central air conditioning unit that is located on a
concrete pad behind the insured dwelling.
The explosion of a furnace that the insured owns that is located
inside the covered dwelling.
Question:
Insuring Agreement 7 - Money Orders and Counterfeit Money
provides coverage in which of the following countries?
Mexico.
Canada.
Any country.
The United States.
Any country.
Question:
All of the following are important functions of a vehicles exhaust
system, EXCEPT:
Controls pollution through the use of the catalytic converter.
Ignites the fuel to power the vehicle.
Carries gases away from the engine.
Quiets the engine through the use of a muffler.
Ignites the fuel to power the vehicle.
, Question:
Because a Homeowners policy provides both property and liability
coverage in a single policy, the policy is called:
A double indemnity policy.
A mono-line policy.
A multi-line policy.
A modified policy.
A multi-line policy.
Question:
If an insured carries Coverage C under a Dwelling policy, how
much coverage applies off the insured premises (world-wide
basis)?
10% of the Coverage C limit.
25% of the Coverage C limit.
40% of the Coverage C limit.
50% of the Coverage C limit.
10% of the Coverage C limit.
Question:
The Ordinance or Law Endorsement to a Homeowners policy is
used:
To provide coverage for any accidental spillage of pollutants on the
insured premises.
To provide coverage for the insured's liability for actions committed
on the insured premises that are against the law.
To provide ordinance or law coverage for an HO-8 form because it
is the only HO form that does not already include this coverage on
the form.
To provide coverage over and above what is already provided on
the Homeowners forms.
To provide coverage over and above what is already provided on
the Homeowners forms.
