*14 / 15 TB - Aviation Insurance

Question 1

Most aircraft hull policies are written on a:

Replacement cost basis

Market Value

Valued Basis

Actual cash value basis

Answer 1

Valued Basis

Question 2

A deductible that is commonly used in aircraft physical damage insurance is usually:

A percentage of the value

A flat deductible

A disappearing deductible

A franchise deductible

Answer 2

A percentage of the value

Question 3

Th hulk physical damage deductible applies to which of the following losses?

Pilferage

Fire

Collision

Fire and explosion (except when caused by collision)

Answer 3

Collision

Question 4

The covers territory for aircraft coverage does not include which of the following?

United States

Canada

Mexico

Puerto Rico

Answer 4

Puerto Rico

Question 5

Which of the following describes admitted aircraft liability?

Negligence is not a factor

Must prove legal liability

Based on a board review

Based on a limited threshold of damage

Answer 5

Negligence is not a factor

Question 6

What coverage under aircraft coverage can cover injuries to crew members as an optional coverage?

Liability coverage

Admitted liability

Medical payments

Workers compensation

Answer 6

Medical payments

Question 7

What type of physical damage coverage is needed by a company that repairs aircraft for damage to customers property?

Garage liability coverage

Hangarkeeper’s liability

General Liability

Garage keepers legal liability

Answer 7

Hangarkeeper’s liability

Question 8

Aircraft liability coverage is very similar to auto insurance coverage with the following exception:

Usually written with a deductible

Does not apply to property damage of others

Liability to passengers is treated as a separate exposure

Cannot exclude passenger liability

Answer 8

Liability to passengers is treated as a separate exposure

Question 9

Which of the following is not covered under aircraft hull insurance?

Personal effects

Fuselage

Wheels

Propeller

Answer 9

Personal effects

Question 10

Which of the following statements regarding Aircraft Insurance is incorrect?

The physical damage covered is written with a flat deductible

Coverage for passengers can be excluded

Special coverage must be arranged for air meet liability

Wear and tear is excluded

Answer 10

The physical damage covered is written with a flat deductible