RMIN 4000 UGA EDMUNDS FINAL EXAM ACTUAL
QUESTIONS AND ANSWERS SURE A+
✔✔duties after an accident or loss - ✔✔notify insurance company, cooperate with
insurer, send copies of legal notices to insurer, and notify police if a hit and run vehicle
is involved or owned auto is stolen
✔✔general PAP provisions - ✔✔policy changes, fraud, suit against insurer, policy
termination
✔✔PAP territory - ✔✔coverage in US, Puerto Rico, and Canada
✔✔PAP termination provisions - ✔✔named insured can cancel at any time. cancelled
after 60 days if premium is not paid, license of any insured is suspended, or policy is
obtained with misrepresentation
✔✔PAP nonrenewal - ✔✔insured must give 20 day notice before end of policy period
✔✔PAP automatic termination - ✔✔if insured declines the insurer's offer to renew
✔✔no-fault auto insurance - ✔✔after an accident involving bodily injury, each party
collects from their own insurer regardless of fault (motorists can still sue driver for
property damage)
✔✔pure no-fault - ✔✔accident victims cannot sue for bodily injury at all, no payments
for pain and suffering
✔✔modified no-fault - ✔✔accident victims can sue if bodily injury exceeds a certain
dollar amount or verbal threshold ( death, dismemberment, etc.)
✔✔rating variable for personal auto insurance - ✔✔Territory or garaging location,
age/gender/marital status, vehicle use, type of vehicle, driving record, # of vehicles,
limits/deductibles, insurance/credit score, good student discount, driver ed., and multi
policy discount
✔✔Section I of homeowners insurance coverages - ✔✔dwelling, other structures,
personal property, and loss of use
✔✔who is covered by homeowners insurance? - ✔✔named insured and spouse,
resident relatives, other person under 21, and full-time student away from home
✔✔Coverage A:Dwelling - ✔✔Covers the dwelling (house) on the residence premises,
structures attached to the dwelling, materials intended for construction, and no
coverage for land
, ✔✔Coverage B: Other Structures - ✔✔covers other structures on the residence
premises set apart from the dwelling by clear space (detached garage or tool shed,
rented out structures excluded)
✔✔coverage C: personal property - ✔✔covers personal property owned or used by an
insured while it is anywhere in the world. storage coverage is limited to 10% or $1000,
whichever is greater
✔✔what personal property is not covered in Coverage C? - ✔✔property insured
elsewhere, animals birds and fish, motor vehicles, aircraft, property of tenants, property
in a rented apartment, business data, credit cards, and water or steam
✔✔Coverage D: Loss of use - ✔✔Provides protection when the residence premises
cannot be used because of a covered loss (includes additional living expenses, fair
rental value, and prohibited use - civil authority)
✔✔additional coverages under Section I - ✔✔debris removal of damaged property,
reasonable repairs, trees and other plants, fire department service charge, unauthorized
credit card use, loss assessment, collapse, ordinance or law, graves markers or
landlord's furnishings
✔✔Section I perils insured against - ✔✔A and B has open perils and C has named
perils
✔✔exclusions to Coverages A and B - ✔✔Collapse, freezing of pipes, theft of materials,
vandalism if vacant more than 60 days, mold or rot unless caused by loss, wear and
tear, and animals
✔✔named perils of Coverage C - ✔✔Fire or lightning, hail, explosion, vandalism, theft,
volcano, accidental damage, riot, smoke, and aircraft
✔✔exclusions applying to coverages A,B, and C - ✔✔law, Earth movement, war,
neglect, flood, intentional loss, nuclear hazard, government action, and weather actions
✔✔section I conditions - ✔✔deductible (flat or %, coast states is higher for hail/wind,
highest is applied), duties after loss (prompt notice, police, protect, cooperate with
insurer), lost settlement (buildings-RC with 80% coins., personal property-ACV),
appraisal, other insurance, suit against insurer (2 years), and concealment/fraud
✔✔appraisal - ✔✔used when insured and insurer agree that loss is covered but
disagree as to loss amount
✔✔Section I and II conditions - ✔✔cancellation and nonrenewal Provisions similar to
PAP
QUESTIONS AND ANSWERS SURE A+
✔✔duties after an accident or loss - ✔✔notify insurance company, cooperate with
insurer, send copies of legal notices to insurer, and notify police if a hit and run vehicle
is involved or owned auto is stolen
✔✔general PAP provisions - ✔✔policy changes, fraud, suit against insurer, policy
termination
✔✔PAP territory - ✔✔coverage in US, Puerto Rico, and Canada
✔✔PAP termination provisions - ✔✔named insured can cancel at any time. cancelled
after 60 days if premium is not paid, license of any insured is suspended, or policy is
obtained with misrepresentation
✔✔PAP nonrenewal - ✔✔insured must give 20 day notice before end of policy period
✔✔PAP automatic termination - ✔✔if insured declines the insurer's offer to renew
✔✔no-fault auto insurance - ✔✔after an accident involving bodily injury, each party
collects from their own insurer regardless of fault (motorists can still sue driver for
property damage)
✔✔pure no-fault - ✔✔accident victims cannot sue for bodily injury at all, no payments
for pain and suffering
✔✔modified no-fault - ✔✔accident victims can sue if bodily injury exceeds a certain
dollar amount or verbal threshold ( death, dismemberment, etc.)
✔✔rating variable for personal auto insurance - ✔✔Territory or garaging location,
age/gender/marital status, vehicle use, type of vehicle, driving record, # of vehicles,
limits/deductibles, insurance/credit score, good student discount, driver ed., and multi
policy discount
✔✔Section I of homeowners insurance coverages - ✔✔dwelling, other structures,
personal property, and loss of use
✔✔who is covered by homeowners insurance? - ✔✔named insured and spouse,
resident relatives, other person under 21, and full-time student away from home
✔✔Coverage A:Dwelling - ✔✔Covers the dwelling (house) on the residence premises,
structures attached to the dwelling, materials intended for construction, and no
coverage for land
, ✔✔Coverage B: Other Structures - ✔✔covers other structures on the residence
premises set apart from the dwelling by clear space (detached garage or tool shed,
rented out structures excluded)
✔✔coverage C: personal property - ✔✔covers personal property owned or used by an
insured while it is anywhere in the world. storage coverage is limited to 10% or $1000,
whichever is greater
✔✔what personal property is not covered in Coverage C? - ✔✔property insured
elsewhere, animals birds and fish, motor vehicles, aircraft, property of tenants, property
in a rented apartment, business data, credit cards, and water or steam
✔✔Coverage D: Loss of use - ✔✔Provides protection when the residence premises
cannot be used because of a covered loss (includes additional living expenses, fair
rental value, and prohibited use - civil authority)
✔✔additional coverages under Section I - ✔✔debris removal of damaged property,
reasonable repairs, trees and other plants, fire department service charge, unauthorized
credit card use, loss assessment, collapse, ordinance or law, graves markers or
landlord's furnishings
✔✔Section I perils insured against - ✔✔A and B has open perils and C has named
perils
✔✔exclusions to Coverages A and B - ✔✔Collapse, freezing of pipes, theft of materials,
vandalism if vacant more than 60 days, mold or rot unless caused by loss, wear and
tear, and animals
✔✔named perils of Coverage C - ✔✔Fire or lightning, hail, explosion, vandalism, theft,
volcano, accidental damage, riot, smoke, and aircraft
✔✔exclusions applying to coverages A,B, and C - ✔✔law, Earth movement, war,
neglect, flood, intentional loss, nuclear hazard, government action, and weather actions
✔✔section I conditions - ✔✔deductible (flat or %, coast states is higher for hail/wind,
highest is applied), duties after loss (prompt notice, police, protect, cooperate with
insurer), lost settlement (buildings-RC with 80% coins., personal property-ACV),
appraisal, other insurance, suit against insurer (2 years), and concealment/fraud
✔✔appraisal - ✔✔used when insured and insurer agree that loss is covered but
disagree as to loss amount
✔✔Section I and II conditions - ✔✔cancellation and nonrenewal Provisions similar to
PAP
