Study RI practice test 3 Flash Cards
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RI practice test 3
RI practice test 3
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Which is an open peril policy?
a) HO2 b) HO5 c) HO3 d) HO6 |
| b) HO5 |
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An insured strikes a telephone pole. the insured carries coverage for other than collision. The vehicle sustains the following dmgs... 300.00 to windshield, 250.00 to front bumper, 180.00 to the left fender, how much will the insurance company pay?
a) 780 b) 300 c) 1090 d) 880 |
| b) 300 |
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Ice piles up on the roof of a covered structure. the roof collapses. which homeowners policy will provide the least amount of coverage while still providing coverage for the loss?.
a) HO2 b) HO3 c) HO4 d) HO5 |
| a) HO2 |
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What is the time line for submitting Med Pay bills?
a) one year b) two years c) three years d) no time limit just a dollar limit. |
| c) three years |
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the insured puts a livery for hire sign on his car. the insured is involved in an auto accident while using vehicle fo r livery and his passengers are injured. the insurance company will pay.
a) all medical bills within 2 years b) all medical bills within 3 years c) all medica bills minus the deductible d) the company has no duty to pay |
| d) the company has no duty to pay |
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A clmnt is awarded precuniary damgs as a result of an accident. These would be paid as
a) compensatory damages b) punitive damages c) exemplary damages d) under a personal umbrella |
| d) under a personal umbrella |
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An insurer must give written notice prior to non renewing an insurance policy how many days in advance?
a) 10 b) 20 c) 15 d) 30 |
| d) 30 |
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Any insurer who is found to have acted on a claim in an improper way with frequency that indicates it is a general business practiceis in violation of
a) insurance regulation guidelines b) unfair claims settlement practices c) adjustes codes of law d) none of the above. |
| b) unfair claims settlement practices |
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An insured's swown statement of value, date and place considered:
a) notice of loss b) proof of loss c) statement of loss d) notice of claim |
| b) proof of loss |
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At what stage should an adjuster send a non waiver?
a) before issuing payment b) before denying/disclaiming coverage c) as soon as you recognise a coverage issue. d) as soon as your recieve notice of claim. |
| c) as soon as you recognise a coverage issue. |
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What is the first step in claims handling when a loss is reported?
a) verify coverage b) check liability c) determine damages d) check deductible amount |
| a) verify coverage |
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What is the purpose of determining the limits of liablity on a policy?
a) to determine the highest point of the settlement ranges b) to determine how many people will pay. c) to determine the prorated amounts we will pay. d) to check for the deductible that will be involved. |
| a) to determine the highest point of the settlement ranges |
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How many days do you have to contact an insured regarding a UM/UIM claim?
a) 10 days b) 15 days c) 20 days d) 30 days |
| b) 15 days |
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Mary flies to florida and renta a car. the rental agent advises mary that her coverage contains exclusions and does not extend to the rental vehicle. Mary does not buy the coverage, and is involved in an accident. which of of the following is true.
a) the insurance company will pay minus marys deductible b) the insurance company will not pay the damages c) the insurance will pay because the contract does not include an exclusion d) none of the above. |
| c) the insurance will pay because the contract does not include an exclusion |
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An attachment that alters an original policy is known as an
a) warrenty b) endorsement c) declaratoin d) waiver |
| b) endorsement |
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The formula for ACV is the current replacement price minus depreciation.
t or f |
| true |
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What are the RI policy limits:
a) 50m for bi/100m per occ/25m for pd b) 25m for bi/50m per occ/25m for pd c) 100m for bi/ 50 per occ/50 for pd |
| b) 25m for bi/50m per occ/25m for pd |
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Which of the folowing would be covered uncer teh other than collision coverage?
a) freezing b) wear and tear c) car that sustained damage from the road when it was stolen d) Mechanical breakdown |
| c) car that sustained damage from the road when it was stolen |
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Mike has an HO4 policy. Mike accidentally caused a fire in his kitchen, which caused damg to his contents and the contents in the apt accross the hall. Both Mike and the other tenant sustained injuries from the fire. What would NOT be covered under Mikes HO-4 agreement?
a) the insureds medical payments b) the other tenants medica payments c) the insureds contents d) the other tenants contents. |
| a) the insureds medical payments |
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Which Homeowners policy will cover the insured against flood damage.
a) Ho3 -ho15 b) ho4 c) ho8 d) none of the above |
| d) none of the above |
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which of the following could be covered under a personal articles floater:
a) Dining room table, couch, entertainment center. b) candles, flowers, vacuums c) books appliances shoes d) jewelry, furs musical equipment, fine arts |
| d) jewelry, furs musical equipment, fine arts |
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Under a homeowners policy which stucture would not be covered?
a) attached garage b) radio tower c) fence surrounding the property d) tree |
| b) radio tower |
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Under an HO4 policy which structure not be covered?
a) attached garage b) fence surrounding the property c) detached storage shed d) all of the above |
| d) all of the above |
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when would a deductible be waived for a UMPD claim?
a) the insured is hit ini an intersection b) the insured is hit by a stolen car c) When hit by an unisured motorist d) when the insureds vehicle is illeagally parked |
| b) the insured is hit by a stolen car |
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Pure comparitive means:
a) you are not entitled to any recovery b) you are entitled to recovery even if you are 99% at fault c) you are entitled only if you are 100% at fault d) You are not entitled unless you are 50% at fault. |
| b) you are entitled to recovery even if you are 99% at fault |
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Under a homeowners policy, damages from a hurricane would be covered for what peril?
a) wind damage only b) flood damage only c) both a an b d none of the above |
| a) wind damage only |
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What would an HO3 cover that an HO4 would not:
a) contents b) motorcycle c) the dwelling d) loss of use |
| c) the dwelling |
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What is an acceptable claims practice?
a) refusing to acknowledge communications w/ clmnt. b) failing to disclose coverages c) asking clmnts if they have a repair shop in mind. d) compellng a clmnt to institute when not nessesary |
| c) asking clmnts if they have a repair shop in mind. |
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What policy would best cover a 60ft auxiliary powered sailboat:
a) yacht policy b) boat policy c) homeowners policy d) umbrella policy |
| b) boat policy |
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What would allow the use of non oem parts if the vehicle is less than 30 months old from the manufacturer date.
a) with customers written consent b) if parts are not available c) non oem parts are allowed in this timeline d) if the no oem parts cost the company less. |
| a) with customers written consent |
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All of the folowing would be covered by the HO policy for liabilty losses except.
a) a snowmobile that hits someone b) a runaway garden tractor c) a golf cart on a golf course d) an electric wheel chair |
| ) a snowmobile that hits someone |
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