4/5/25, 6:42 CT License Practice Exam 2 |
PM
CT LICENSE PRACTICE EXAM 2 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
Terms in this set (162)
The function in the adjusting process by Documentation and Reporting
which an adjuster records his or her
activities, findings, and thoughts on
disposition of a claim is know as what?
A "direct writing" insurance company A. Employees of the company
sells its policies through:
A. Employees of the company
B.Licensed insurance brokers
C. Independent insurance agents
D.Exclusive or Captive agents
The insured purchased a large tarp from Additional coverages
Home Depot to prevent further water
damage to his home after shingles were
blown off the roof during a storm. Which
section of the policy would pay for
reasonable repairs to protect the
property from further damage?
Identify the endorsement to a BOP policy, Protective Safeguards
which warrants that any fire alarm, burglar
alarm or sprinkler system in place is fully
functional and is in working order.
Which of the following is considered to A. Fire damage to a house
be a "direct" loss:
A. Fire damage to a house
B. Additional living expense
C. Food spoilage due to power outage
C. Loss of rental income after a property
is flooded
1/19
,4/5/25, 6:42 CT License Practice Exam 2 |
PM
Coverage E - Personal Liability of the D. Sexual molestation and mental abuse
Homeowners program protects an
insured from all of the following EXCEPT:
A. Premises liability
B.Personal activities away from the
premises
C. Negligent acts of residence employees
D.Sexual molestation and mental abuse
Identify the endorsement used to Sole Proprietors, Partners, Officers, and Others Coverage endorsement
properly cover volunteer workers.
The limit of insurance for business 25%
personal property is automatically
increased to offset seasonal variations in
business. The standard amount of the
increase is ____.
The maximum time period for which a 60 days
binder can be written in Connecticut is
what?
Pete, an employee of XYZ Moving A. Disability income
Company suffered a work-related injury
while in the course and scope of
employment. To ensure a full recovery,
Pete's doctor has recommended that he
stay off work for an extended period of
time. Upon discussing his workers
compensation benefits with the adjuster,
Pete is told that there is a waiting period
that he must endure prior to receiving
benefits. Accordingly, what type of
workers compensation "benefits" is the
adjuster referring to?
A. Disability income
B.Medical
C. Survivors benefits
D.Rehabilitation
All of the following type of businesses D. Convenience stores
would NOT be eligible for a BOP policy
EXCEPT:
A. Bowling alleys
B.Banks
C. Auto dealerships
D.Convenience stores
Identify the Specialty Liability Policy Employment Practices Liability insurance
that covers businesses against claims
by
employees alleging that their legal rights
as an employee have been violated.
Contractors seeking insurance coverage D. They have less than 10 full time employees
under a BOP must meet all of the
following eligibility requirements EXCEPT:
A. Their annual payroll is less than
$300,000
B. Their annual sales are less than
$3M
C. Their subcontracted work is less
than 10% of their sales
D.They have less than 10 full time
employees
2/19
, 4/5/25, 6:42 CT License Practice Exam 2 |
PM
The voluntary relinquishment or Waiver
"giving up" of a known right is
known as_________________________.
Under Part II - Employers Liability A. $100,000 per accident/occupational disease, $500,00 aggregate limit
Insurance of the Workers Compensation
policy, the minimum limits typically
include:
A. $100,000 per
accident/occupational disease,
$500,00 aggregate limit
B.$250,000 per
accident/occupational disease, with a
$500,000 aggregate limit
C. $500,000 per accident/occupation
disease, with a $1M aggregate
limit
D.$250,000 per accident/occupation
disease with no aggregate
Unique to the Lawyers Professional C. Are included in the policy limits
Liability Policy, legal fees resulting
from the defense of an insured:
A. Have a set limit of $50,000 per
occurrence
B. Are covered with a
self-insured retention limit of
$10,000
C. Are included in the policy limits
D.All of the above apply
At the end of the policy period the WC Deposit
insurance carrier will audit the insured's
books to determine the actual exposure.
If the actual exposure was higher than
what was originally estimated, the insurer
will send a bill to collect the difference
in premium owed. If the actual
exposure was lower, they will return a
portion of the premium to insured.
Accordingly, the
premium that is paid at the beginning of
the policy period is referred to as the
_______premium.
The process by which an adjuster Evaluation
considers all of the evidence gathered
and estimates how much the claim
will cost to resolve.
Similar to the BAP, the Garage Policy D. Symbol #32 designates Mobile Equipment subject to compulsory auto financial
contains numeric symbols identifying the responsibility requirements
types of autos covered. All of the
following are true regarding Garage
symbols EXCEPT:
A. Garage symbols are numbered in
the twenty and thirty series, beginning
with #21 - Any Auto
B. There are two (2) more Garage
symbols than BAP symbols
C. Symbol #30 designates the existence
of Garagekeepers' Coverage
D.Symbol #32 designates Mobile
Equipment subject to compulsory auto
financial responsibility requirements
3/19
PM
CT LICENSE PRACTICE EXAM 2 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
Terms in this set (162)
The function in the adjusting process by Documentation and Reporting
which an adjuster records his or her
activities, findings, and thoughts on
disposition of a claim is know as what?
A "direct writing" insurance company A. Employees of the company
sells its policies through:
A. Employees of the company
B.Licensed insurance brokers
C. Independent insurance agents
D.Exclusive or Captive agents
The insured purchased a large tarp from Additional coverages
Home Depot to prevent further water
damage to his home after shingles were
blown off the roof during a storm. Which
section of the policy would pay for
reasonable repairs to protect the
property from further damage?
Identify the endorsement to a BOP policy, Protective Safeguards
which warrants that any fire alarm, burglar
alarm or sprinkler system in place is fully
functional and is in working order.
Which of the following is considered to A. Fire damage to a house
be a "direct" loss:
A. Fire damage to a house
B. Additional living expense
C. Food spoilage due to power outage
C. Loss of rental income after a property
is flooded
1/19
,4/5/25, 6:42 CT License Practice Exam 2 |
PM
Coverage E - Personal Liability of the D. Sexual molestation and mental abuse
Homeowners program protects an
insured from all of the following EXCEPT:
A. Premises liability
B.Personal activities away from the
premises
C. Negligent acts of residence employees
D.Sexual molestation and mental abuse
Identify the endorsement used to Sole Proprietors, Partners, Officers, and Others Coverage endorsement
properly cover volunteer workers.
The limit of insurance for business 25%
personal property is automatically
increased to offset seasonal variations in
business. The standard amount of the
increase is ____.
The maximum time period for which a 60 days
binder can be written in Connecticut is
what?
Pete, an employee of XYZ Moving A. Disability income
Company suffered a work-related injury
while in the course and scope of
employment. To ensure a full recovery,
Pete's doctor has recommended that he
stay off work for an extended period of
time. Upon discussing his workers
compensation benefits with the adjuster,
Pete is told that there is a waiting period
that he must endure prior to receiving
benefits. Accordingly, what type of
workers compensation "benefits" is the
adjuster referring to?
A. Disability income
B.Medical
C. Survivors benefits
D.Rehabilitation
All of the following type of businesses D. Convenience stores
would NOT be eligible for a BOP policy
EXCEPT:
A. Bowling alleys
B.Banks
C. Auto dealerships
D.Convenience stores
Identify the Specialty Liability Policy Employment Practices Liability insurance
that covers businesses against claims
by
employees alleging that their legal rights
as an employee have been violated.
Contractors seeking insurance coverage D. They have less than 10 full time employees
under a BOP must meet all of the
following eligibility requirements EXCEPT:
A. Their annual payroll is less than
$300,000
B. Their annual sales are less than
$3M
C. Their subcontracted work is less
than 10% of their sales
D.They have less than 10 full time
employees
2/19
, 4/5/25, 6:42 CT License Practice Exam 2 |
PM
The voluntary relinquishment or Waiver
"giving up" of a known right is
known as_________________________.
Under Part II - Employers Liability A. $100,000 per accident/occupational disease, $500,00 aggregate limit
Insurance of the Workers Compensation
policy, the minimum limits typically
include:
A. $100,000 per
accident/occupational disease,
$500,00 aggregate limit
B.$250,000 per
accident/occupational disease, with a
$500,000 aggregate limit
C. $500,000 per accident/occupation
disease, with a $1M aggregate
limit
D.$250,000 per accident/occupation
disease with no aggregate
Unique to the Lawyers Professional C. Are included in the policy limits
Liability Policy, legal fees resulting
from the defense of an insured:
A. Have a set limit of $50,000 per
occurrence
B. Are covered with a
self-insured retention limit of
$10,000
C. Are included in the policy limits
D.All of the above apply
At the end of the policy period the WC Deposit
insurance carrier will audit the insured's
books to determine the actual exposure.
If the actual exposure was higher than
what was originally estimated, the insurer
will send a bill to collect the difference
in premium owed. If the actual
exposure was lower, they will return a
portion of the premium to insured.
Accordingly, the
premium that is paid at the beginning of
the policy period is referred to as the
_______premium.
The process by which an adjuster Evaluation
considers all of the evidence gathered
and estimates how much the claim
will cost to resolve.
Similar to the BAP, the Garage Policy D. Symbol #32 designates Mobile Equipment subject to compulsory auto financial
contains numeric symbols identifying the responsibility requirements
types of autos covered. All of the
following are true regarding Garage
symbols EXCEPT:
A. Garage symbols are numbered in
the twenty and thirty series, beginning
with #21 - Any Auto
B. There are two (2) more Garage
symbols than BAP symbols
C. Symbol #30 designates the existence
of Garagekeepers' Coverage
D.Symbol #32 designates Mobile
Equipment subject to compulsory auto
financial responsibility requirements
3/19
