Examfx practice test Exam Sample Questions And Answers Verified 100% Correct
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Course
Fx life
Institution
Fx Life
Examfx practice test Exam Sample Questions
And Answers Verified 100% Correct
Which of the following is NOT considered a misrepresentation as it pertains to unfair
trade practices? - ANSWER
The Pro rata liability clause is designed to protect the principle of - ANSWER Indemnity
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Examfx practice test Exam Sample Questions
And Answers Verified 100% Correct
Which of the following is NOT considered a misrepresentation as it pertains to unfair
trade practices? - ANSWER
The Pro rata liability clause is designed to protect the principle of - ANSWER Indemnity
When a resident producer changes his residence address, the Insurance Department
must be notified within - ANSWER 30 days
A building is insured, but no one has lived or worked in it for 10 years. The building is
completely empty of any furniture or personal belongings. From an Insurance
standpoint, the building is considered. - ANSWER Vacant
An insurer publishes intimidating brochures that portray the insurer's competitions as
financially and professionally unstable. Which of of the following best describes this act.
- ANSWER Legal, under any circumstances
Which bonds are required by courts whenever someone seeks a court order stating
another person must or must not dot something? - ANSWER Injunction bond
In comparison to consumer reports, which of the following describes a unique
characteristic of investigative consumer reports? - ANSWER The customer's
associates, friends, and neighbors provide the report's data.
An insured relocated to another state for work. However, she still owns and insurers a
house in this state, but has had one living in it for 3 months. She is also storing some of
furniture and clothes in the house. From an insurance standpoint, the insured's house is
considered? - ANSWER Unoccupied
If a farm building or structure is vacant or unoccupied, which is true? - ANSWER If for
120 consecutive days, the limits applicable to the building and its contents are reduced
by 50%
Which loss listed below would be fully covered by a homeowners policy? - ANSWER
$2,000 silver tea set stolen
A specific coverage part is listed on the commercial package policy declerations page,
but there is no premium shown. What does that mean, - ANSWER There is no
coverage.
, With respect to auto insurance, the term owned autos includes all of the following
EXCEPT: - ANSWER A pickup or van titled to and used in the named insured's
business
A deli owner has a businessowners liability policy. When a customer slipped and hurt
herself at the deli, the liability policy paid for medical expenses. The customer, however,
is now suing the business owner because she claims there was no caution sign warning
her that the floor was wet. What is the insurer obligated to do. - ANSWER Pay to defend
the policy owner in the lawsuit because liability coverage contains a duty-to-defend
provision
The part of the policy that sets forth the rules of conduct, duties, and obligations of the
parties is called the - ANSWER Conditions
What type of information would be found in a policy's insuring agreement? - ANSWER
Renewal dates
The commercial general liability coverage form excludes bodily injury or property
damage that the insured has assumed under any contract or agreement. However, the
exclusion does not apply to certain types of contracts, as long as the injury or damage
occurs - ANSWER After the execution of the contract
A restaurant is out of business for 3 days after an insured's automobile hits and
electrical pole. The pole fails and hits the building, knocking out all electrical power
supply. Which of the following is NOT covered under the insured driver's auto policy? -
ANSWER Lost revenues from the restaurant
What method of premium computation relates an employer's losses, payroll, and
premiums to the rating bureau's classifications of operations . - ANSWER Experience
modification factor
Which of the following terms refers to other insurance that is written on the same risk,
but not on the same coverage basis? - ANSWER Nonconcurrency
When is an employee entitled to rehabilitation services under Workers Compensation?
- ANSWER When the injured worker is unable to earn wages equal to what they earned
before the injury.
Limited fungi, wet or dry rot, or bacteria endorsement in HO policies applies to -
ANSWER Property and liability losses
Losses caused by continuous or repeated exposure to conditions resulting in injury to
persons or damage to property that is neither intended nor expected is the definition of
which of the following terms? - ANSWER Occurrence
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