CPCU 520 PRACTICE TEST QUESTIONS
WITH 100% CORRECT ANSWERS
A database management system (DBMS) is a group of programs
that organizes data. Which one of the following statements is
correct with respect to a DBMS? - correct answer- A
DBMS collects data for reuse in other systems, such as premium
billing, finance, and claims.
A document management system (DMS) stores, organizes, and
retrieves image files. Which one of the following statements is
correct with respect to a DMS? - correct answer- At
some insurers, producers, field claims representatives, and
others can access electronic files directly.
A management control tool used to determine whether line
underwriters are properly implementing underwriting policy is
known as an underwriting - correct answer- Audit
All corporations are obligated to promote the well-being of
society. At the minimum, this obligation demands that the
insurer should - correct answer- Avoid causing any
public harm.
, All states attempt to ensure that continuous auto insurance
coverage is available to consumers by - correct answer-
Restricting the rights of insurers to cancel or nonrenew personal
auto insurance policies
An agency bill process in which the producer is usually not
required to pay the insurer until the premium is collected from
the policyholder is known as - correct answer- The
item basis.
Every state insurance department is headed by a state insurance
commissioner, a director, or by a - correct answer-
Superintendent.
Filip is quoting to get Osakri's business and is not concerned with
the adequacy of Mellfor's coverage with actual cash value on
contents. Filip's behavior involving Osakri is known as -
correct answer- Twisting.
How often does the National Association of Insurance
Commissioners (NAIC) meet to discuss important problems and
issues in insurance regulation? - correct answer-
Three times a year
WITH 100% CORRECT ANSWERS
A database management system (DBMS) is a group of programs
that organizes data. Which one of the following statements is
correct with respect to a DBMS? - correct answer- A
DBMS collects data for reuse in other systems, such as premium
billing, finance, and claims.
A document management system (DMS) stores, organizes, and
retrieves image files. Which one of the following statements is
correct with respect to a DMS? - correct answer- At
some insurers, producers, field claims representatives, and
others can access electronic files directly.
A management control tool used to determine whether line
underwriters are properly implementing underwriting policy is
known as an underwriting - correct answer- Audit
All corporations are obligated to promote the well-being of
society. At the minimum, this obligation demands that the
insurer should - correct answer- Avoid causing any
public harm.
, All states attempt to ensure that continuous auto insurance
coverage is available to consumers by - correct answer-
Restricting the rights of insurers to cancel or nonrenew personal
auto insurance policies
An agency bill process in which the producer is usually not
required to pay the insurer until the premium is collected from
the policyholder is known as - correct answer- The
item basis.
Every state insurance department is headed by a state insurance
commissioner, a director, or by a - correct answer-
Superintendent.
Filip is quoting to get Osakri's business and is not concerned with
the adequacy of Mellfor's coverage with actual cash value on
contents. Filip's behavior involving Osakri is known as -
correct answer- Twisting.
How often does the National Association of Insurance
Commissioners (NAIC) meet to discuss important problems and
issues in insurance regulation? - correct answer-
Three times a year
