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Exam FX > Learn As You Go! > Flashcards

Learn As You Go! Flashcards

1
Q

Which endorsement can be added to business owners policy that would cover them for a power companies transformer being destroyed

A

Utility service time element endorsement

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2
Q

Wait so established based on the similarities of the risks are known as

A

Manual rates

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3
Q

Which federal act provides benefits To injured civilians who are employed by the federal government

A

Federal employees compensation act

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4
Q

Which of the following would be included in the farm liability coverage forms

A

Bodily injury to resident employee

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5
Q

What is the term for the entity that an agent represents regarding contractual agreements with third parties?

designee
insured
principal
client

A

Principal

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6
Q

When an insurer cancels an auto policy for an allow reason they must give notice to the named insured apostle Paul eligibility for coverage through the Pennsylvania auto insurance plan unless the reason for cancellation is

A

Non-payment of premium

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7
Q

When an insured makes truthful statements on the application for insurance and pays the required premium it is known as which of the following?

consideration
legal purpose
contract of adhesion
acceptance

A

Consideration because they gave each other something

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8
Q

I feel like this person moved to Pennsylvania wants to get license in Pennsylvania how many days do they have to submit an application

A

90 days

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9
Q

And a foreign policy which of the following coverages would be impressed the insured for loss of rental income falling damage to the insured dwelling

A

Coverage D loss of use

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10
Q

Extended non-own coverage endorsement in a PAP broadens which of the following coverages?

physical damage
liability medical payments
transportation expenses
uninsured motorist

A

Liability medical payments

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11
Q

For how long after the death of a named insured must basic property insurance continue coverage

A

180 days

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12
Q

A business using its own trucks to move it on cargo would ensure the cargo using what form?

Motor carrier form
Trip transit coverage
Motor truck cargo owners form
Motor truck cargo truckers form

A

Motor truck cargo owners form

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13
Q

When ensure cancels midterm and commercial property or casualty insurance policy for an allowable reason they must send and deliver a notice of cancellation how many days in advance

A

60 days

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14
Q

In a dwelling policy which of the following is true regarding personal liability coverage?

It does not cover medical payments to others
It is included in our dwelling policy’s
It is the same as in homeowners policies
It must be added as a supplement or written as a separate policy

A

It must be added as a supplement or written as a separate policy

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15
Q

A situation in which a person can only those I have no change represents:

Pure risk
speculative risk
Adverse selection
Hazard

A

Pure risk

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16
Q

If a person is using an auto with the belief that he’s entitled to do so subrogation rights under a personal auto policy would apply to all coverages except:

No-fault medical payments
Liability
Physical damage
Uninsured motorist

A

Physical damage

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17
Q

Which of the following regulatory authorities participated in creating the national do not call registry

A

FTC the federal trade commission

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18
Q

A claim is considered to have been made when:

When a notice is received and recorded by the insurer

When notice is received and recorded by insured or the insurer which ever comes first

When received in writing or telephonically by the insurer

When notice is received by insured

A

When notice is received and recorded by insured or the insurer which ever comes first

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19
Q

Which of the following pairs is covered by HO2 and H03?

War
Sudden and accidental future of heating system
Loss due to power interruption
Food

A

Sudden and accidental future of heating system

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20
Q

Ocean marine policy is commonly referred to the person covered by the policy as the

Assured
Master
Policy owner
Inchmaree

A

Assured

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21
Q

What type of information would be found in a policy ensuring agreement?

Insurers address
Renewal dates
location of premises
policy limits

A

Renewal dates

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22
Q

Which of the following samples used in business auto coverage is correctly described?

Symbol 7 hired autos only
Symbol 9 non owned autos only
Symbol 1 owned auto only
Symbol 2 owned autos subject to no fault

A

Symbol 9 non owned autos only

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23
Q

Under the commercial property coverage program the basic causes of loss form insurance against loss caused by:

Sprinkler leakage
earth movement
nuclear hazard
power failure off the premises

A

Sprinkler leakage

24
Q

Producer has successfully completed 52 hours of CE how many hours can a party supply to the curb. And how many hours can she carry forward

A

24 hours to the current reporting. And 24 can be applied to the next one the other four hours will not be carried over

25
Q

Which of the following would be covered by Broad theft endorsement on a dwelling policy:

An antique car
a camera the insured has with him on vacation a pedigree show dog
fabric and patterns in a clothing designer studio at home

A

Camera

26
Q

Because I need to as using stationary with the log having insurance company applicants for insurance assume that the agent is authorized to transact on behalf of the insurance what type of authority does this describe?

Assumed
apparent
express
implied

A

Apparent as an appearance

27
Q

The major portion of the premium for an equipment breakdown policy pays:

For inspections and examinations
for repairs after a loss
for coverage for bodily injury and property damage of others
for replacement parts

A

For inspections and examinations

28
Q

When transacting business in the state an insurer formed under the laws of another country it is known as an

A

Alien insurer

29
Q

When applying for life policy the applicant mentions nausea but does not mention chest pain what is this

A

Concealment

30
Q

Which of the following would be considered an insured under business auto coverage form

A

Anyone using with permission of covered auto

31
Q

Going to the last payment condition in HO policies last must be paid within how many days

A

60 Days

32
Q

A producer sold an insurance policy subsequently his license was suspended in this case how much is the commission will he receive

A

All of it

33
Q

Sublimit for hazardous substances is how much

A

$25,000

34
Q

Commercial Property special form covers property in transit up to how much

A

$5,000

35
Q

If a consumer request additional information concerning an investigative consumer report how long does the insurer or reporting agency have to comply?

A

5 days

36
Q

If insurance covered under a mobile homeowners policy moves the mobile home to protect it from a covered peril policy will pay how much

A

Up to $500

37
Q

What type of compensatory damages will pay for pain and suffering and disfigurement:

Special
Tort
Normal
General

A

General

38
Q

Which is NOT a DNC exception:

Calls by or on behalf on tax-exempt nonprofit organizations

Calls based from outside US

Calls for which the consumer gave prior consent

Calls which are not commercial

A

Outside US

39
Q

Part of the policy that says for the rules of conduct duties and obligations

Insuring clause
Conditions
Exclusions
Declaration page

A

Conditions

40
Q

And insured has a personal auto policy with both comp and collision. His car stolen and recovered five days later how much transportation expense of $20 a day what his policy pay

A

$60 After 48 hours

41
Q

Adverse selection is a concert best described as

A

Risks with higher probability of those seeking insurance more often than other risks

42
Q

Under farm liability coverage

A

Bodily Injury

43
Q

An individual was Caught acting as an exclusive general agent – Even though he is not properly license, assuming that this occurred in a single day, what is the maximum penalty he faces

A

Third-degree misdemeanor and $1000 fine

44
Q

An employee drives a company auto but doesn’t have a vehicle herself. What endorsement could be added to the insurance policy that would provide her coverage to drive someone else’s car for personal use?

Rental car coverage
personal injury protection
drive other car coverage
bobtail coverage

A

Drive other car coverage

45
Q

A regular NFIP what are you sure single dwelling for up to how much

A

250,000

46
Q

Under the fair credit reporting act if the customer challenges the accuracy of the information on the report the agency must

A

Respond to the customers complaint

47
Q

Then how many years of last man insured bring a lawsuit against the insured according to the dwelling policy?

Two years
three years
five years
seven years

A

2

48
Q

Which of the following statements is guaranteed to be true and if Untrue will breach an insurance contract

Representation
warranty
Concealment
indemnity

A

Warranty

49
Q

When must application for coverage be made by federal crop insurance

A

At or before a date established by the federal crop insurance corporation

50
Q

What is the penalty for violating the cease and desist order?

A

$10,000

51
Q

Which of the following can affect whether or not you have a license

Failing to pay child support
commission of a felony
commission of a misdemeanor
failing to pay taxes

A

Misdemeanor

52
Q

The authority granted to an agent through the agent contract is referred to as:

Absolute authority
expressive authority
Apparent authority
implied authority

A

Express

53
Q

Is property in transit by registered mail covered under the jewelers block extension

A

Yes

54
Q

Bull carriers are used to transport

A

Loose cargo

55
Q

FAIR

A

Fair access to insurance requirements

Exam FX (8 decks)

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