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Personal Lines Exam 2024-Questions with 100% Correct answers
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Personal Lines Exam 2024-Questions with 100% Correct answers
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Personal Lines Exam 2024-Questionswith 100% Correct answers
Which of the following is true regarding the Doctrine of Comparative Negligence:
A) It varies by state
B) It bars recovery if the injured party is to blame
C) It is known as contributory Negligence
D) In order to recover from the other party, you must be 50% or more at fault - Answer
A) It varies by state
All of the following have restricted capacity to enter into insurance contracts, EXCEPT:
A) Minors
B) Persons judged to be incompetent
C) Persons under the influence of control
D) Retired persons - Answer D) Retired persons
The fact that an insured may pay his premium for years but never have a claim
makes his insurance policy?
A. A contract of Adhesion
B. Aleatory
C. Unilateral
D. A contract of Utmost Good Faith - Answer B) Aleatory
All of the following are true about strict liability, EXCEPT:
, A) Negligence must be proven
B) It is also known as absolute liability
C) It is the direct responsibility for damages resulting from a deliberate action
D) It is liability w/o fault - Answer A) Negligence must be proven
On a HO-3 ('00) written w/ dwelling coverage of $100,000, an insured suffers a $95,000
fire loss plus $15,000 for removal of debris. How much of the debris is covered:
A) Zero
B) $5,000
C) $10,000
D) $15,000 - Answer C) $10,000
On a HO ('00) policy, coverage for personal property applies:
A) On premises only
B) Within the U.S Only
C) In North America Only
D) Anywhere in the world - Answer D) Anywhere in the world
On a Property policy, the exclusion on earth movement excludes all EXCEPT:
A) Earthquake
B) Explosion
C) Landslide
D) Mud flow - Answer B) Explosion
On a HO-3 ('00), rain damage to contents is covered:
A) Never, since contents coverage is named peril
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