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What is NOT True of true or proximate cause...?
a) continuous and unbroken sequence
b) loss would have happenned anyway |
b) loss would have happenned anyway |
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p3779 Mon, 03 Nov 2008 22:29:42 GMT |
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Evidence that is relevant immediately after a loss but losses importance the further down the road from the loss is..?
a) physical evidence
b) ----no selection offered----
c) secondary evidence
d) Criitcal evidence |
c) secondary evidence |
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p3779 Mon, 03 Nov 2008 22:29:42 GMT |
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What would not be covered under PAP physical damage?
A) installed navigational equipment
B) installed telephone
C) On board mapping system
D) CD Disk |
D) CD Disk- media is not covered |
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p3779 Mon, 03 Nov 2008 22:14:02 GMT |
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What is the last thing on a statement?
a) settlement cost
b) signature
c) pictures |
b) signature |
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p3779 Mon, 03 Nov 2008 22:14:02 GMT |
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What is the reason for the difference in a competitive estimate.
a) labor
b) parts
c) comparison
d) none of the above |
a) labor |
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p3779 Mon, 03 Nov 2008 22:14:02 GMT |
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| When you tell your insurance company not to share or sell any of your information is known as what? |
opt out |
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p3779 Mon, 03 Nov 2008 22:14:02 GMT |
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When can arbitration be requested?
a) anytime
b) before mediation
c) after mediation
d) never |
c) after mediation |
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p3779 Mon, 03 Nov 2008 22:09:17 GMT |
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You an do all of the following if insured has a lawyer except...?
a) talk to the insured's neighbors
b) send questionaire to insured's address
c) talk to lawyer
d) examine previous claim reports of the inusured. |
d) examine previous claim reports of the inusured. |
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p3779 Mon, 03 Nov 2008 22:09:17 GMT |
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If an insured tells an aduster that he considering calling a lawyer, the unfair claims settlement act prohibits all of the following except:
a) continue to talk to an insured until he actually gets a lawyer.
b) tell insured that lawyers have limitations on how much they would be able to help them with.
c) tel the insured that amount awarded may be reduced by going thrugh the court process.
d) provide legal advise |
a) continue to talk to an insured until he actually gets a lawyer. |
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p3779 Mon, 03 Nov 2008 22:09:17 GMT |
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| Otc stand for what and what is also known as? |
other than collison and is also known as comprehsive. |
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p3779 Mon, 03 Nov 2008 22:09:17 GMT |
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The form that the clmnt will sign giving them more leeway than normal perameters but allows certain condistions to be met.
a) Release
b) Open ended Release
c) Close ended Release |
b) Open ended Release |
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p3779 Mon, 03 Nov 2008 22:02:25 GMT |
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| What is the reliquishment of a known right? |
Waiver |
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p3779 Mon, 03 Nov 2008 22:02:25 GMT |
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If a consumer report is ran, the insured under the FCRA must be able to do what?
a) Get the name of the credit agency the report was ran through. |
Get the name of the credit agency the report was ran through. |
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p3779 Mon, 03 Nov 2008 22:02:25 GMT |
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| Something that increases the chance of loss is known as what? |
Hazard |
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p3779 Mon, 03 Nov 2008 22:02:25 GMT |
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What is the definintion of unilateral?
a) a Contract based on the uncertainty of loss
b) A contract in which on party is legally bound and the other is not |
b) A contract in which on party is legally bound and the other is not |
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p3779 Mon, 03 Nov 2008 21:54:06 GMT |
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What is the definintion of Alleatory?
a) a Contract based on the uncertainty of loss
b) A contract in which on party is legally bound and the other is not |
a Contract based on the uncertainty of loss |
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p3779 Mon, 03 Nov 2008 21:54:05 GMT |
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Declatory Judment can be broght when?
a) there is a preponderance of evidence for any reason.
b) there is a preponderance of evidence which favors the insurance company
c) there is a preponderance of evidence which favors the insurer. |
c) there is a preponderance of evidence which favors the insurer.
note: preponderance of evidence the greater weight of evidence required in a civil ( non criminal) lawsuit for hte trier of fact ( jury or judge w/o a jury) to decide in favor of one since or other. The preponderance is based on the more convincing evidence and it probable truth or accuracy, and not the amount of evidence. thus, one clearly knowledgeable witness may provide a preponderance of evidence of a dozen witnesses with hazy testimony, or signed agreement with definate terms may out weigh opinions of speculation about what the parties intened. |
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p3779 Mon, 03 Nov 2008 21:54:05 GMT |
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Who determines a declatory judgement?
a) the state insurance dept
b) the insurer
c) the courts
d) the federal govt. |
c) the courts - note: this is believed to be an actual judgement so it would be the court. |
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p3779 Mon, 03 Nov 2008 21:54:05 GMT |
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What must you notify the COI in the state of CT whenever this happens?
a) you are having finacial problems
b) you changed your address
c) you changed your employer
d) all of the above |
d) all of the above |
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p3779 Mon, 03 Nov 2008 21:43:57 GMT |
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How many days to non-renew in CT?
a) 30 days
b) 60 days
c) 90 days
d) 180 days |
b) 60 days |
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p3779 Mon, 03 Nov 2008 21:43:57 GMT |
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Why can a claim be denied?
a) Ph paid bill during the grace period in cancellation notice
b) material misreprsentation
c) insureds 16 year old son woh lives in household was a driver not listed on the policy. |
b) material misreprsentation note: answer "a" is ok since it was during the grace period answer c is ok since the 16 year old not listed on the policy lives in the household and/or had permissive use. |
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p3779 Mon, 03 Nov 2008 21:43:57 GMT |
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Who owns a stock insuance company?
a) policyholders
b) shareholders
c) the insured
d) the state insurance dept |
b) shareholders |
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p3779 Mon, 03 Nov 2008 21:43:57 GMT |
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Who receives dividends under a mutual policy?
a) policyholders
b) investors
c) the insurance company
d) state insurance dept. |
a) policyholders |
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p3779 Mon, 03 Nov 2008 21:36:09 GMT |
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What does the Underinsured coverage cover?
a) Hit and run
b) other driver at fault had no insurance
c) other driver did not have state minimums
d) Insured did not have enough to cover thier loss |
d) Insured did not have enough to cover thier loss--- the other 3 are definitions of uninsured mostorist this is the only one that defines underinsured. |
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p3779 Mon, 03 Nov 2008 21:36:09 GMT |
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Which is exlcluded from the business auto form?
a) fire
b) freezing
c) vandalism
d) flood |
b) freezing- this in an exlusion on all physical damage policies |
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p3779 Mon, 03 Nov 2008 21:36:09 GMT |
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What would be covered under Collision
a) insureds car collides with a deer
b) car is stolen and then the theif subsequently collides vehicle with another.
c) fire
d) insured is speeding nad turns over on the road. |
d) insured is speeding nad turns over on the road. |
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p3779 Mon, 03 Nov 2008 21:36:09 GMT |
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| Keeping the PH updated on the clai, the purpose is to let the customer know that even though we are still investigaion the loss we still reserve our right to deny is known as what. |
reservation of rights letter |
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p3779 Mon, 03 Nov 2008 21:29:02 GMT |
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______ is a clause in the policy an 2 policies cover the same loss then we need to use an equation to figure out hte % each company will pay. the % each company pays is Pro-rated based on the amount of coverage the policy holder with company. the Company with the higher limit pays a larger % of the loss.
a) Pro rate
b) short rate
c) pro rata
d) pro football |
c) pro rata |
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p3779 Mon, 03 Nov 2008 21:29:02 GMT |
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What is a mechanic fixing insured's car covered for under the insured's PAP?
a) BI only
b) PD only
c) Both BI and PD
d) Neither BI or PD |
d) Neither BI or PD |
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p3779 Mon, 03 Nov 2008 21:29:02 GMT |
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Due to increased risk or due to extra hazardous conditions, public policy demands that even though other party may bear percent of negligence, insured mus be held 100% responsible for the loss. This is an example of?
a) comparitive negligence
b) Contributory Negligence
c) Strict liablity
d) pure liablilty |
c) Strict liablity- this definately explains strict/absolute liabilty- because if you participate in extra hazardous activities your are held responsible for anything that goes wrong even if someone else was somewhat liable |
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p3779 Mon, 03 Nov 2008 21:29:02 GMT |
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Policy A has a limit of 100M, Policy B has a limit of 300M. the insured has a loss of 40M. If policy A is primary and Policy B is excess, how much will each party pay out for the loss?
a) A pays nothing, b pays 40m
b) A pays 20m nad B pays 20m
c) A pays 40m and B pays nothing
d) A pays 10m and B pays 30m |
c) A pays 40m and B pays nothing since policy A is primary they pay for loss up to the policy limit since thier policy limit is enough to cover the total loss then Policy B will pay nothing |
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p3779 Mon, 03 Nov 2008 21:19:15 GMT |
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| Question on a definition of Mediation |
It is when an innocent 3rd party stands in - listens to both sides and helps to come to a decision - non binding- most lenient |
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p3779 Mon, 03 Nov 2008 21:19:15 GMT |
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A written claim should conclude with
a) estimated loss
b) claims adjusrs report
c) none of the above
d) the insureds signature or consent |
d) the insureds signature or consent- anything considered a written statement should end with a signature. |
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p3779 Mon, 03 Nov 2008 21:19:15 GMT |
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John has a collision deductible and a deductible of $50.00 on OTC. John has a $500.00 claim due to sliding on ice which caused the vehicle to hit the tree. How much will the insurance company pay?
a) 500
b) 250
c) 450
d) 50 |
b) 250 |
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p3779 Mon, 03 Nov 2008 21:19:15 GMT |
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