Quiz 2 Day 5 Personal Lines
Quiz by Brian Morton
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20 questions
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- Q1Which of the following would be covered by Section II of a Homeowners Policy?A client slips and is injured at the insured’s officeAn insured is sued for failure to render appropriate professional serviceA pedestrian slips and injures himself on the insured’s icy sidewalkAn employee of the insured is injured while unloading the insured’s truck60s
- Q2Medical Payments to Others under Section II of the Homeowners Policy would apply to all of the following EXCEPT:Injury that was caused by an animal owned by the insuredInjury that was caused by the activities of the insuredTo a person on an insured location with the permission of the insuredInjury to a guest that was intended by the insured60s
- Q3Termination of a policy before its expiration date is called:CancellationNonrenewalEstoppelLapse60s
- Q4Which of the following terms describes the cost to replace property without deduction for depreciation?Replacement costMarket valueStated valueActual cash value60s
- Q5Which of the following is NOT a method of loss valuation?Agreed ValueReplacement costActual cash valueLimited value60s
- Q6Which of the following parts of an insurance policy describes the rules that the insured and insurer have agreed to follow?Insuring agreementExclusionsConditionsDeclarations60s
- Q7What is the purpose of the definitions section of an insurance policy?Clarifies policy languageContains basic information about the policy such as who the insurer is, what is insured, and what the limit of insurance isSpecifies what the insurer promises to do in return for the insured’s premium paymentSpecifies what the insurer promises to do in return for the insured’s premium payment60s
- Q8Which of the following terms describes the situation when a loss results from two causes occurring simultaneously or in succession?NonconcurrencyConcurrent causationProximate causeSpecific causation60s
- Q9Which of the following is not included in the insured’s duties after a loss?Give prompt notice to the insurerPrepare an inventory of the lossProtect the property from further lossSubmit a proof of loss to the insurer within 30 days from the insurer’s request60s
- Q10An insured purchased new furniture for $6,000. At the time of loss, it has depreciated $2,000. At current rates, the same furniture will cost $7,000 to replace. The actual cash value of the destroyed furniture is:$5,000$7,000$8,000$6,90060s
- Q11The National Flood Insurance Program does not cover which of the following losses?Mudslides caused by accumulation of waterUnusual and rapid accumulation or runoff of surface watersWater main breaksOverflow of inland or tidal waters60s
- Q12In property insurance, a policy that covers all property losses, EXCEPT for those specifically excluded, is classified as:Specified perilsNamed perilsUnspecified perilsOpen perils60s
- Q13Which of the following is a direct loss?Loss of incomeLoss of rentsLoss of incomeCollapse60s
- Q14What the company will do to protect the insured is found in what section of an insurance policy?DeclarationsConditionsExclusionsInsuring Clauses60s
- Q15Provisions for appraisal, subrogation and cancellation would be found in what section of an insurance policy?Insuring ClausesDeclarationsExclusionsConditions60s