PEARSON VUE: CASUALTY INSURANCE PRACTICE Exam Pack | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

A private passenger auto policy may be canceled more than sixty days after the effective date for what reason? (i.e. drivers license status) Correct Answer: Suspension of the insured's driver's license An insurance company may deny an employee's claim for Workers Compensation benefits if t...

Pure Risk Correct Answer: chance of loss or no loss but not gain insurable Speculative Risk Correct Answer: there is possibility of loss but of gain no insurablility exposure unit Correct Answer: subject to loss peril Correct Answer: cause of loss life insurance Correct Answer: death 2 He...

Admitted life insurance must pay interest, at a rate specified by life, on death benefits from the date of the insured's death, through how many days following the date the insurer receives the claim? a. 15 days b. 20 days c. 30 days d. 31 days Correct Answer: c. 30 days The policy loan a...

Which of the following persons may assign a Standard Fire Policy? Correct Answer: A Claims Adjuster Under the standard flood insurance policy, all of the following loss avoidance measures are covered up to $1,000 when damage to the insured property due to flooding is imminent EXCEPT: Correct ...

An insurer must provide claim forms to an insured within a MAXIMUM of how many days after receiving notice of an Accident & Health claim? A. Five B. Fifteen C. Twenty D. Thirty Correct Answer: b Under a group health plan, an employer may offer additional benefits to classes of employees on...

S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which...

P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary Correct Answer: B.revocable beneficiary A contract...

n insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone Correct Answer: C In ...

1. Which of the following perils is covered under the Commercial Property Basic Cause of Loss form? 1. A. Collapse 2. B. Sinkhole collapse 3. C. Falling objects 4. D. Breakage of glass Correct Answer: Answer: B Sinkhole Collapse The National Flood Insurance Program provides coverage for loss...

An insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone Correct Answer: C In...

Which of the following sections of an insurance policy would explain the term "auto" ? A.Declarations A. Declarations B.Definitions B. Definitions C.Insuring agreement C. Insuring agreement D.Obligations of the insurance company D. Obligations of the insurance company Correct Answer: ...

Under the social security retirement benefits, all of the following factors will influence how much a retiring individual will receive as a monthly income benefit except the individual's Correct Answer: Sex In life insurance, insurance interest must exist at the time the Correct Answer: Prod...

P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary Correct Answer: B A contract that has as its basic...

S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which...