LA Property & Casualty Practice Questions and Correct Answers

First Street Supply Company has a good business relationship with its main customer, Alliance Metals, which it wants to maintain even if a First Street employee were to get injured while visiting Alliance's factory. Which of the following endorsements might First Street add to its workers compensation policy to minimize potential disputes should that ever happen? 1. Voluntary Compensation and Employers Liability Coverage endorsement 2. Waiver of Our Right to Recover from Others endorsement 3. Federal Employers Liability Act Coverage endorsement 4. General liability Rider endorsement waiver of our rights All of the following are described in the cancellation provision in property and casualty insurance policies EXCEPT: 1. why the policy may be canceled 2. who may cancel the policy 3. when the policy may be canceled 4. where the policy may be canceled where the policy may be canceled Under the terms of an insurance policy's liberalization clause, an insurer may revise a standard policy form at the time of renewal for all the following reasons EXCEPT: exposures decisions insurer's need to make the policy more profitable need to clarify the insurer's intentions the insurer's need to make the policy more profitable Mr. Abramson is having a new house built. You tell him he can purchase a dwelling policy while the house is being built, but he needs to add an endorsement to the policy. What endorsement does he need to purchase? 1.Broad Theft 2.Dwelling Under Construction 3.Personal Liability Supplement 4.Automatic Increase in Insurance .Dwelling Under Construction