General Insurance Essentials - C81 + C82 EXAM 2025/2026
Actual Complete Real Exam Questions & Correct Answers |
Already Graded A+ | Newest Exam | Just Released!!
What factor needs to be present for an insurer to pay a
claim? - ANSWER-
Policy must be
valid
What is salvage? - ANSWER-It is the process of taking steps
to reduce the
amount of a
loss.
Give an example of an accident basis claim: - ANSWER-
While fixing an
electrical wire, the insured accidently caused a spark that
started a fire.
Give an example of an automobile claim being prejudiced: -
ANSWER-The insured delays reporting the claim and tries to
settle the claim "under the table" with the third party.
Derek has an automobile with an actual cash value (ACV) of $500
and attached
,equipment with a value of $1,200. His policy has an
endorsement to limit the
amount paid to the ACV or a stated amount, whichever is less,
in case of a loss.
If the automobile was declared a total loss following an accident,
what would the
insurer pay? -
ANSWER-$500
Would there be coverage for Transporting the automobile from
Vancouver, British Columbia, to San Francisco, California, by
ship under an automobile policy? - ANSWER-Yes
Some automobiles are more attractive to thieves than others,
but the incidence of theft is also influenced by what element? -
ANSWER-Territory in which the automobile is normally
operated
The application requires past driver's licence experience and
information about
any convictions for which period of time? -
ANSWER-3 years
What action should a broker take when the insured asks the
broker to suspend all coverages from the insured's only
automobile while the insured goes south for four (4) months
during the winter? - ANSWER-Request the insurer suspend
coverages by the use of the approved Suspension of Coverage
Endorsement
,What information is required under the Particulars of the
Described Automobile section of the automobile insurance
application? - ANSWER-Name and address of any lessor
What is the purpose of motor vehicle liability cards? - ANSWER-
They are proof
of
insurance
What would qualify as a newly acquired automobile under the
Owner's Policy? - ANSWER-A pre-owned automobile acquired
to replace an automobile that was destroyed in an accident
Which type of vehicle use is prohibited under the Statutory
Conditions? -
ANSWER-A driver using the automobile for
street racing
What is covered under premises liability coverage? -
ANSWER-Legal liability
arising out of the insured's ownership, use, or occupancy
of the described
premises
What does the comprehensive home insurance form cover? -
ANSWER-Any
loss or damage not excluded by the exclusions and
conditions in the wording
, The insured injured another person while golfing on a
course in the United
States - would personal liability insurance respond? -
ANSWER-Yes
Which additional condition warrants that no one other than the
policyholder who has custody of the insured property will
benefit from the policy? - ANSWER-No benefit to bailee
A house valued at $200,000 is damaged by fire: half of the
building is destroyed. The house was insured for the full value
on a Homeowners Insurance policy WITHOUT any optional By-
Law Endorsement. The town required the undamaged portion
of the house to be torn down. How would the insured's policy
respond to the claim? - ANSWER-Pays $100,000 for the section
damaged
What does liability insurance indemnify the insured for? -
ANSWER-Sums the insured may be required by law to pay to
third parties as damages for bodily injury or damage to
property
What is meant by the term inherent vice? - ANSWER-The
object will by its
nature suffer
loss.
Actual Complete Real Exam Questions & Correct Answers |
Already Graded A+ | Newest Exam | Just Released!!
What factor needs to be present for an insurer to pay a
claim? - ANSWER-
Policy must be
valid
What is salvage? - ANSWER-It is the process of taking steps
to reduce the
amount of a
loss.
Give an example of an accident basis claim: - ANSWER-
While fixing an
electrical wire, the insured accidently caused a spark that
started a fire.
Give an example of an automobile claim being prejudiced: -
ANSWER-The insured delays reporting the claim and tries to
settle the claim "under the table" with the third party.
Derek has an automobile with an actual cash value (ACV) of $500
and attached
,equipment with a value of $1,200. His policy has an
endorsement to limit the
amount paid to the ACV or a stated amount, whichever is less,
in case of a loss.
If the automobile was declared a total loss following an accident,
what would the
insurer pay? -
ANSWER-$500
Would there be coverage for Transporting the automobile from
Vancouver, British Columbia, to San Francisco, California, by
ship under an automobile policy? - ANSWER-Yes
Some automobiles are more attractive to thieves than others,
but the incidence of theft is also influenced by what element? -
ANSWER-Territory in which the automobile is normally
operated
The application requires past driver's licence experience and
information about
any convictions for which period of time? -
ANSWER-3 years
What action should a broker take when the insured asks the
broker to suspend all coverages from the insured's only
automobile while the insured goes south for four (4) months
during the winter? - ANSWER-Request the insurer suspend
coverages by the use of the approved Suspension of Coverage
Endorsement
,What information is required under the Particulars of the
Described Automobile section of the automobile insurance
application? - ANSWER-Name and address of any lessor
What is the purpose of motor vehicle liability cards? - ANSWER-
They are proof
of
insurance
What would qualify as a newly acquired automobile under the
Owner's Policy? - ANSWER-A pre-owned automobile acquired
to replace an automobile that was destroyed in an accident
Which type of vehicle use is prohibited under the Statutory
Conditions? -
ANSWER-A driver using the automobile for
street racing
What is covered under premises liability coverage? -
ANSWER-Legal liability
arising out of the insured's ownership, use, or occupancy
of the described
premises
What does the comprehensive home insurance form cover? -
ANSWER-Any
loss or damage not excluded by the exclusions and
conditions in the wording
, The insured injured another person while golfing on a
course in the United
States - would personal liability insurance respond? -
ANSWER-Yes
Which additional condition warrants that no one other than the
policyholder who has custody of the insured property will
benefit from the policy? - ANSWER-No benefit to bailee
A house valued at $200,000 is damaged by fire: half of the
building is destroyed. The house was insured for the full value
on a Homeowners Insurance policy WITHOUT any optional By-
Law Endorsement. The town required the undamaged portion
of the house to be torn down. How would the insured's policy
respond to the claim? - ANSWER-Pays $100,000 for the section
damaged
What does liability insurance indemnify the insured for? -
ANSWER-Sums the insured may be required by law to pay to
third parties as damages for bodily injury or damage to
property
What is meant by the term inherent vice? - ANSWER-The
object will by its
nature suffer
loss.
