Declarations Page
has first named insured
Aleatory in nature refers to:
Unequal exchange by two parties
First aid costs for others injured on the insured's premises
Are paid in addition to the liability limit.
Which of the following actions would be considered an offer?
An applicant submitting the application
A homeowner lives in a 150-year-old adobe building that is on the National Register of Historic Places. The
homeowner has HO-8 coverage. If a fire destroys part of the roof, which of the following describes the insurer's
responsibility?
Partial roof replacement to current code specifications
An agent who solicits and files applications for the sale of life insurance represents
The insurer.
Which of the following would be covered under Coverage C - Personal Property of a dwelling policy?
Canoes
In which of the following situations would a property be considered unoccupied?
The insured went on vacation for a month while the house remained empty.
Which special liability insurance is designed to protect a business from financial mismanagement claims?
Fiduciary liability
The voluntary compensation endorsement in workers compensation coverage provides statutory coverage for which
types of employees?
Farm workers
All of the following types of property may be covered under Coverage E of a farm policy EXCEPT
Growing crops
, When the health insurance policy premium is paid monthly, the grace period is
10 days
Under the Motor Carrier Act of 1980, haulers transporting oil must maintain liability limits of at least
$1,000,000
Which of the following is NOT a feature of broad theft coverage under a dwelling policy?
It is automatically covered under DP-3 - Special Form.
Which of the following would protect an employer from legal action resulting from a work-related sexual harassment
claim
Employee practices liability insurance
What insurance principle means something of value that each party gives to the other?
Consideration
Over several years, a policyowner paid $10,000 in premiums for his insurance policy. When he suffered a loss, the
insurance company paid out $50,000 in benefits. What characteristic of an insurance contract does this describe?
Aleatory
An unidentified hit-and-run driver would be considered an
Uninsured motorist
Under the businessowners property coverage form, which common policy condition addresses what will happen if
the insured and the insurer do not agree on the amount of damage?
Appraisal
What is the purpose of requiring licenses for persons who transact insurance?
Protect the general public
In an auto insurance policy, what does the first limit represent in split liability limits?
Bodily injury to one person in a single accident
Which of the following watercraft will be covered under Section II - Liability Coverage of a businessowners policy?
Nonowned watercraft less than 51 feet long
has first named insured
Aleatory in nature refers to:
Unequal exchange by two parties
First aid costs for others injured on the insured's premises
Are paid in addition to the liability limit.
Which of the following actions would be considered an offer?
An applicant submitting the application
A homeowner lives in a 150-year-old adobe building that is on the National Register of Historic Places. The
homeowner has HO-8 coverage. If a fire destroys part of the roof, which of the following describes the insurer's
responsibility?
Partial roof replacement to current code specifications
An agent who solicits and files applications for the sale of life insurance represents
The insurer.
Which of the following would be covered under Coverage C - Personal Property of a dwelling policy?
Canoes
In which of the following situations would a property be considered unoccupied?
The insured went on vacation for a month while the house remained empty.
Which special liability insurance is designed to protect a business from financial mismanagement claims?
Fiduciary liability
The voluntary compensation endorsement in workers compensation coverage provides statutory coverage for which
types of employees?
Farm workers
All of the following types of property may be covered under Coverage E of a farm policy EXCEPT
Growing crops
, When the health insurance policy premium is paid monthly, the grace period is
10 days
Under the Motor Carrier Act of 1980, haulers transporting oil must maintain liability limits of at least
$1,000,000
Which of the following is NOT a feature of broad theft coverage under a dwelling policy?
It is automatically covered under DP-3 - Special Form.
Which of the following would protect an employer from legal action resulting from a work-related sexual harassment
claim
Employee practices liability insurance
What insurance principle means something of value that each party gives to the other?
Consideration
Over several years, a policyowner paid $10,000 in premiums for his insurance policy. When he suffered a loss, the
insurance company paid out $50,000 in benefits. What characteristic of an insurance contract does this describe?
Aleatory
An unidentified hit-and-run driver would be considered an
Uninsured motorist
Under the businessowners property coverage form, which common policy condition addresses what will happen if
the insured and the insurer do not agree on the amount of damage?
Appraisal
What is the purpose of requiring licenses for persons who transact insurance?
Protect the general public
In an auto insurance policy, what does the first limit represent in split liability limits?
Bodily injury to one person in a single accident
Which of the following watercraft will be covered under Section II - Liability Coverage of a businessowners policy?
Nonowned watercraft less than 51 feet long
