exam Flashcards

transpertation expenses

If the insured trades vehicles, the newly acquired vehicle

A deductible usually applies to which of the following automobile policy coverages

special damages

Symbol 1-5

symbol 6-19

Collision

comphrensive

specified auto-

maximum payable for auto electronic equipment permanently installed

provided worldwide for insureds for a period of

covered pollution costs

The supplementary payments under the personal auto policy:

bailment

Used clothing would be covered on

How many days does the insured have to file for proof of loss under a homeowner policy issued in Texas?

Which is not covered under the HO forms

Under an HO-3 form, what coverage is provided for watercraft lost due to theft

A standard ISO homeowner policy is best described as

Homeowner policies provide liability coverage for which of the following?

HO automatically coveres

Friendly fire

unfriendly

What does the "identity fraud expense" endorsement to a homeowner policy cover?

Are employers required to have workers comp in texas?

A first party claimant is the entity that receives the benefit of an insurance policy that specifically covers their property. A first party claimant can be all of the following

The Foreign Coverage Endorsement should be added to the company's workers compensation policy. However, this endorsement applies for a period of no longer than

How long after being notified of an injury does an insurance carrier or self-insured employer have to contest the compensability of a workers' compensation claim?

Subsequent Injury Fund

What is the minimum weekly income benefit payable under the Texas workers compensation law?

maximum medical improvement

The required unmodified workers compensation premium is

Longshore harbor act-

The Jones Act-AKA mercahnt marine act of 1920

black lung benfefits act

Federal employees comp act FECA

federal employers liability act

The premium charged for a standard Workers Compensation policy is based primarily on a company's:

Like physical damage coverage on an auto policy, the watercraft and yacht policies provide for the adjusting of physical damage losses to covered property on

For equipment breakdown policy, what is not covered

severability of insurance

personal articles floater fine arts.

Marine-oil haulers are only required to carry

aircraft policy
Commercial flights, passenger is covered

Marketing distribution systems.

The penalty for a violation

Under the dwelling insurance program, an endorsement may be attached to the policy to cover dwellings during the course of construction. The insurance company must be advised when construction is completed, and within

Which of the following most accurately describes the "debris removal" clause?

Which of the following dwelling forms provides broad perils coverage for personal property?

The DP Forms have a blank limitation of the Coverage C amount when personal property is OFF the premises.

Commercial liability also known as

What is excluded under Commercial liability

Commercial liability coverage A

Commercial liability coverage B

Coverage C

occurance form

claims made form

Basic extended reporting is provided

supplimental extended reporting

laser beam endorsent

products and completed operations

Endorsement CG 2407-

bail bonds amount covered

contingent liability refers to

The maximum limit an insurer must offer for Personal Injury Protection

Personal Injury Protection does not cover

Personal Injury Protection covers injuries up to

Which of the following time periods is ordinary payroll coverage limited to in case of a business income loss under the BOP?

jewelers block policy what is excluded

ABC Office Temps and Clean-Rite Dry Cleaning are both located in a strip mall and share a common party wall. Fire begins in the dry cleaners and damages the party wall. Clean-Rite decides to go out of business. How will the BOP policy of ABC Office Temps respond regarding the party wall?

red tags

Standard deductible for equipment breakdown

The BOP has limitations on the square footage in regard to eligible risks. What is the maximum square footage a building can contain and still be eligible for the policy?

insurance company can cancel the policy if the risk is blank vacant

What is required in order for seasonal increase coverage to apply under the BOP

What are the unique features of the Businessowners policy form?

In the Building and Personal Property Coverage form, under Loss Conditions, the Vacancy Clause states that when the policy is issued to the owner or general lessee of a building, such building is vacant unless at least

An Installation Floater

Hull coverage

Sue and labor clause

Jettison

For ocean- insurance is terminated the second

Adventure clause

Lay up endorsement

Break bulk

Cocontainerization

Bulk shipments-

Warehouse to warehouse clause

Demurrage

Freight insurance

Inchmaree clause

General average

Particular average

In ocean marine- must make claim within

Inherent vice-

Ivel clause

A conventional cargo ship is used to transport

The hull physical damage deductible applies to which of the following losses?

The boat is in transit and if physical damage should occur to the boat

Barratry

Personal article floater:

Commercial inland marine Key characteristic is

Controlled standardized form

Non controlled

Annual transit policy

Trip transit policy-

Motor truck cargo policy

Free on board FOB shipping point-

Free on board destination point

Contractor’s equipment coverage form

Commercial articles coverage form

Equipment dealers form

Jewerly block coverage- must take inventory every

What commercial inland marine form covers loss due to damage of records

Valuable papers and records covers

What is the ideal form of protection for the frequent shipper of goods

Installation floater

Bailee policy-

What is the only coverage territory approved for Equipment dealers policy-

Garagekeepers specified causes of loss does not specify

The term "average" in ocean marine insurance refers to

legal liablity garage

primary liablity garage

if a vehical is driven 50 miles from the workshop

accident

garagekeepers exludes almost all the following except

Which sections of an insurance policy states who may be considered an insured in addition to the named insured?

A company's promise to pay for damage caused by or resulting from a covered cause of loss would be found in which of the following sections of a Commercial Property Policy?

A company's promise to pay for damage caused by or resulting from a covered cause of loss would be found in which of the following sections

Insurable Interest

Which of the following is the type of report indicating the initial results of the investigation of a claim

Signing someone else's name or falsifying documents is considered

The insured owns a home with a swimming pool. The pool is not fenced. If a child were to drown in the pool, which of the following liability doctrines would most likely apply?

Since the insurance company drafts the insurance contract and it is not negotiable, if it is found to be ambiguous the courts will interpret the contract against the party that prepared it. This is an example of

Estoppel

An initial premium charged the insured under a reporting form type of policy is called the

Terrorism risk 2015 act: what is excluded

Terrorism risk 2015 act what is the only thing covered in case of war

Under the Terrorism Risk Insurance Reauthorization Act of 2015, the Secretary of the Treasury is charged with certifying that an act of terrorism has occurred and that it would be covered under the Act. However, before certification is complete the Secretary of the Treasury must consult with

In liability insurance the term "occurrence" means:

Bail bonds

loss sustained form

discovery form

fidelity bonds-

surety bond

public bonds-

replevin bond

robery bond

to be defined as burgalery, there has to be

messenger

three types of limits for commerical umbrella

Must acknowledge within

a dwelling vacant for more than blank is not covered

An emergency license in Texas is effective for a period not to exceed

A licensee must maintain records of evidence of each continuing education course completed for a period of

Under Homeowners insurance, "Medical Payments to Others" coverage will cover necessary medical expenses incurred within:

An employer in Texas whose workers compensation coverage is terminated or cancelled must notify each employee that the coverage has been terminated or cancelled not later than

Medical payments coverage under a BOP applies to expenses incurred by non-insureds for bodily injury and reported to the insurer within

Death benefits

must respond to an inquiry in writing not later than the after the date the inquiry was first received.

anything over 500K

Must examine a carrier once every

Must renew every blank on the adjusters birthday suspended or revoked

what is the renewal fee

what is the emergency licence fee

how many hours of continuing education for each reporting period

how many hours of education must be in ethics

how many days must education be finished before renewal

if you are continually licenced for blank you no longer have to renew your license.

penalties for criminalty of an adjuster-

if insured is notified insurerer will pay, payment must be made no later than

settlment offers must be responded to within

Standard form #24

The employer is required to report to their insurance carrier the fact that an employee is absent from work as a result of a work-related incident more than

Commercial Glass Coverage is suspended if, at the time of loss, the building has been vacant for more than:

Under workers compensation in Texas, income benefits may not be paid for an injury unless the injury results in disability that lasts longer than what period of time?

Preservation of Property" coverage when property is removed from the premises to protect it from a covered cause of loss. The coverage will apply at other locations for up to:

Premium costs for Workers Compensation insurance are paid by

The personal inland marine coverage form which provides open peril insurance for specific classes of personal property on an itemized and scheduled basis is called a:

A commercial umbrella policy would, in most cases, provide which of the following coverages?

Ruth has been in an auto accident caused by a third party. Her vehicle is totaled and she has injuries and loss of wages. The adjuster states that he does not want to pay for anything until she agrees to the damage to repair her vehicle and her special damages. This is considered:

When an insured is fulfilling the duty of proving a loss by taking an inventory of the damaged property, who pays the expenses incurred by the insured?

Even when extended coverage perils are added to a DP-1, not all of these perils are as broad as they are under the DP-2. The extended coverage perils which are broader under the DP-2 are:

An insured is covered under an HO-3 form. If the insured hits his own house and also damages the garage and the attached fence with his vehicle, what coverage would apply?

Oliver Dogwood was in an auto accident which destroyed his car. While investigating the accident, Adjuster Doright found that Mr. Dogwood paid $1,000 for the vehicle. After checking with others he found the same vehicle with an asking price of $1,700, a retail price of $2,150 and a dealer price of $1,750. What amount will Mr. Dogwood receive?

The insured carries an auto policy and a personal umbrella policy. In case of a loss, how would the policies respond to pay a covered claim?

Property with no occupants or contents is considered to be _____ whereas property with no occupants but with contents is considered:

Subject to all other reasons for the termination of income benefits, what is the maximum length of time a disabled employee can receive income benefits in Texas?

The insured carries a yacht policy and is pulling a water skier. The skier is a family member and is injured. What coverage might apply to this accident?

That branch of the law which defines rights and duties is referred to as:

How is property covered under an unendorsed BOP form

Under the Texas financial responsibility law, what is the minimum limit of liability that must be carried by the insured in an accident involving more than one injured party?

A dwelling insured under an HO-3 form has been vacant for 61 consecutive days. The dwelling has been vandalized. The vandals decide to set fire to the dwelling to conceal any evidence of their presence. The insurer will:

Which of the following would be covered under the "other than collision" coverage of a personal auto policy?

Mr. Robin is retired and lives in an older home in Maine. He has an old floor furnace to heat his home that is in need of repair and he forgets to have it checked. In the winter he stays in Florida for a month with his daughter. While Mr. Robin is away the furnace malfunctions and all his water pipes freeze and burst causing massive water damage. The furnace is also destroyed. He has a broad form homeowner policy, which includes water damage from a heating or plumbing system. What will the adjuster do?

After suffering a work-related injury, how soon must the employee (or someone acting on their behalf) notify the employer of the injury?

Fidelity bonds which apply coverage to an employee or employees acting in collusion with others are called:

QUESTION:
Which of the following best demonstrates the meaning of "contract of adhesion?"

In claims adjusting, which of the following is not considered an unfair claims act?

A damage award against a manufacturer of a defective automobile over and above the award for pain and suffering and special damages would be considered what kind of damages?

An item is covered on a personal articles floater. Under which of the following circumstances would the item be covered?

A ship has negligently collided with another ship and caused severe damage. What coverage would apply to cover this claim?

A deductible usually applies to which of the following automobile policy coverages

What commercial auto policy form would be used to cover a company that transports their own property and property of others?

Dwelling forms may be used to insure residential structures which:

John Smith has just made his last car payment which concludes his contract. The finance company, for reasons not immediately apparent, has the car repossessed. If Mr. Smith brings a suit, the court will allow Mr. Smith to retake possession of the car pending the court’s final ruling as to ownership if Mr. Smith provides the court a:

In order for a principal-agent relationship to exist there must be a:

Which commercial property form provides the broadest coverage

All of the following are excluded under the Commercial Building and Personal Property Form, EXCEPT:

Coverage for earthquakes and volcanic eruptions may be attached to Commercial Property Insurance. When the Earthquake Causes of Loss Form is attached, a series of earthquakes or volcanic eruptions will be treated as a single event whenever the series of shocks or eruptions occurs within a:

In which of the following situations should an adjuster consider obtaining a non-waiver agreement?

The form used to report the insured’s actual and estimated business income under an Equipment Breakdown policy is called:

direct" question by an adjuster addressed to an interviewee?

One of the purposes of the coinsurance clause is to:

What coverage under the BOP automatically applies if a customer slips and falls on the named insured's premises, regardless of legal liability?

Which of the following can bind an insurance coverage by oral or written agreement?

The insured has a one family dwelling with a detached garage. The dwelling is insured for $200,000. How much coverage applies to the garage?

Your car is damaged in an auto accident. While it is being repaired, the body shop loans you a replacement. From a coverage standpoint this replacement vehicle is known as:

Personal Injury Protection provided by auto liability coverage does not cover

If a large employer has a current Workers Compensation policy with an experience modification factor above 1.00, which of the following is the most accurate statement?

An alien insurance company is

A company that repairs customers' aircraft may need _______to cover the accidental damage to the customers' property.

What feature is common to most property insured under a commercial inland marine policy?

Loss of rental income on an apartment building caused by an insured peril is best described as:

What is the limit that will be paid for the fire department service charge in the BOP form

The doctrine of reasonable expectations is based primarily on

What is the name of the fund in Texas that provides a portion of lifetime income benefits to a worker who has sustained a second work-related injury

An insured who had a $500,000 primary liability policy purchased a $1 million Umbrella liability policy with a $2,000 self-insured retention limit. Later, the insured allowed the required underlying primary policy with a limit of $100,000 to expire. A week after that, the insured became liable for a $100,000 loss that is not excluded by the provisions of either the primary policy or the Umbrella policy. How will this loss likely be settled?

What type of automobile coverage might a person need if he or she does not own a vehicle?

If an employee is eligible to receive impairment income benefits, what is payment based on?

A civil wrong, considered to be a violation of another's natural right, not covered by a specific contract or law, is called a:

An insurance agent represents the interest of:

Under the dwelling policy, what is the purpose of adding the EC (extended coverage) endorsement?

If a person is found guilty of violating USC Section 1033 regarding Federal Fraud and False Statements, the Attorney General may do which of the following?

Which of the following is true regarding debris removal under the dwelling forms?

Under the Terrorism Risk Insurance Program Reauthorization Act of 2015, the maximum limit for the Act for total claims paid under the Act by either private insurers or the government is still limited to:

Which of the following allows the insured to increase their contents coverage amount for specified periods of time when inventory may be higher than usual?

The insured’s have a homeowner policy with a $5,000 loss deductible. The husband has purchased some expensive camera equipment to take on a cruise for recording their trip. Also special scuba gear and sportswear have been purchased for both. They are concerned about fire and theft. What coverage would you recommend?

A policyholder would expect to find which of the following information in the insuring agreement section of an auto policy?

What is the time limit for a person to file a claim for death benefits after an employee's death?

An insurance broker is a person who represents:

The insured has a primary liability policy with a limit of $300,000 per occurrence and a $1 million umbrella liability policy with a $10,000 self-insured retention limit. The insured became liable for $800,000 in damages that are excluded by the underlying policy, but not by the umbrella policy. How would this case likely be settled?

Prior to commencing subrogation, the insurer should

If the claim is not denied, an insurance carrier must initiate compensation under the laws promptly. Not later than the ___ day after the date on which an insurance carrier receives written notice of an injury, the insurance carrier must begin payment of the benefits.

In case of a loss, how many days notice does the insured have after notification of a claim to submit the claim to the underwriters of the ocean marine coverage?

A vehicle rolled over exiting the interstate. The insured carries collision coverage with a $1,000 deductible and other than collision coverage with a $500 deductible. The damage to the vehicle is $2,000. What amount is the insurer responsible to pay?

Ocean marine coverage for losses to the insured vessel caused by bursting boilers, latent defects in the vessel and negligence of the master or crew members are addressed by which of the following?

All forms and endorsements must be filed _____ before the date of use in Texas.

In terms of fidelity bonds, what does “name scheduled” refer to?

Under business income coverage, what coverage continues payment of income after the period of restoration is complete?

Which of the following sections of an insurance policy states who may be considered an insured in addition to the named insured?

Under Homeowners insurance, "Medical Payments to Others" coverage will cover necessary medical expenses incurred within:

When may an insured sue their insurance company?

The mandatory recoupment of the federal share through policyholder surcharges under Terrorism Risk Insurance Program Reauthorization Act of 2015 was increased from 133% to:

If an insurance company covered an excluded claim it may have to continue paying other such claims because of:

Which of the following coverages may be added by endorsement to an Equipment Breakdown Policy?

Mr. Adams is having his brakes repaired at the garage. The mechanic test drives the vehicle and hits a tree. What coverage would respond to protect the garage for repairs to Mr. Adam’s vehicle?

What coverage is provided under the BOP for a steam boiler explosion

On the way to Europe, heavy seas place a cargo ship in danger of sinking. The crew decides that if they dispose of the heavy equipment they are hauling the ship won’t sink. They toss overboard 10 tractors owned by John Deere. The cartons of cotton balls owned by Eli Cotton are safe as is the whipped marshmallow cream being shipped for Kraft Foods. When they get to Europe, Eli and Kraft are asked to share in the loss that John Deere sustained. This is an example of:

Which of the following types of property may be insured under a furriers block policy

An unendorsed Homeowner Policy provides no coverage for liability arising out of business related exposures, other than for permitted incidental occupancies. The ______Endorsement provides liability coverage for a business conducted away from or on the residence premises.

The maximum seating capacity and total floor space for a fine dining restaurant covered under a BOP is?

In insurance terms, the phrase "severability of insurance"

Watercraft coved boats

What is insurance

Transacting insurance:

Law of Large Numbers

Intervening cause

McCarren-Ferguson Act:

Reciprocal insurance exchange:

Fraternal Benefit Society

Rebating

Twisting

EC perils

Broad perils

What amount, if any, is paid for burial expenses under the Texas workers compensation law?

All of the following types of signs can be covered by the Sign Coverage Form, except

Which of the following homeowner forms does not provide full coverage on the dwelling - Coverage A

Which of the following may cancel a Commercial Package Policy

What is the most important advantage to an employer under the self-insured Texas workers compensation plan?

A common carrier has signed a contract to deliver goods of the seller. The goods are to be shipped "Free on Board Destination". When does the responsibility of the seller end?

The "last clear chance doctrine" addresses:

The Homeowners policy provides a special limit for Damage to Property of Others in the Section II (liability) Additional Coverages of:

The limit of a bond is known as its:

Risk is best defined as

Reporting forms

In which part of an insurance contract would you expect to find a description of the duties and obligations of the insured?

Under a personal auto policy, what is Coverage D

An aleatory contract is most accurately described by which of the following

When an insurer cancels a dwelling policy for non-payment of premium, it must give the insured advance notice of at least:

The workers compensation law of the State of Texas is administered and operated by what body?

What endorsement may be used on the dwelling policy to keep values current with the replacement cost of the buildings?

Which of the following would NOT be found in the conditions section of a homeowner insurance policy?

The insured is moving to a new location. Coverage for contents provided under a Homeowner Policy would be:

Transportation expenses in a personal auto policy apply to what type of loss?

Who is the principal in a bid bond?

When someone dies without a will they are said to have died:

An adjuster's report that contains all the facts, evidence and disposition of the claim and is considered to be the final report is known as the:

If a named insured obtains "newly acquired property" such as a new outboard motor after their Personal Watercraft policy period begins, that property is covered under the policy for a maximum of ____ days after the date it came into the insured's possession.

A person who has been previously convicted of operating a motor vehicle in violation of the motor vehicle liability requirement may be subject to a maximum fine of up to: