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Question & Answers 2025
Which of the following is incorrect? Part A covers long term care Part A covers hospital care Part B covers physicians Part B requires monthly premium payments - CORRECT ANSWER ✔✔Part A covers long term care Medical payments coverage under the personal auto policy applies for medical bills insured up to how long after an accident? One year Five years Three years Two years - CORRECT ANSWER ✔✔Three years Workers Comp. Part. I covers: All sums the insurer is required to pay by state law All sums the insurer will pay when deemed necessary
Question & Answers 2025
All sums the insurer is required to pay by common law All sums the insurer is required to pay by federal law - CORRECT ANSWER ✔✔All sums the insurer is required to pay by state law The two major sublines of general liability coverage are: Products and completed operations Products and completed operations and advertising liability Premises operations and product liability Premises/operations and products and completed operations - CORRECT ANSWER ✔✔Premises/operations and products and completed operations Which of the following would NOT be covered under a typical homeowners policy? Music CDs Model aircraft Dog house Land - CORRECT ANSWER ✔✔Land
Question & Answers 2025
An individual buys the insureds product in the United States, but is injured when using the product in Japan The insured is flying to Japan from the United States - CORRECT ANSWER ✔✔An individual buys the insureds product in the United States, but is injured when using the product in Japan Which of the following is NOT a party to a surety bond? Surety Principal Bondsman Obligee - CORRECT ANSWER ✔✔Bondsman The Boiler and Machinery limit of insurance is written as: As an Aggregate Limit Any of the choices A single limit of insurance per policy period A single limit of insurance per accident - CORRECT ANSWER ✔✔A single limit of insurance per accident
Question & Answers 2025
A self-insured retention acts as a deductible and applies to claims covered by an umbrella policy, but excluded by an underlying policy in a personal umbrella. The S.I.R. ranges from $250 to: $1, $1, $ $750 - CORRECT ANSWER ✔✔$1, A fiduciary is: a person who has no financial responsibility whatsoever. a person who is in a position of financial trust. buys and sells used autos for a nominal fee. a person that handles cash in excess of $10,000 every month without any oversight. - CORRECT ANSWER ✔✔a person who is in a position of financial trust. All of the following are listed on the Boiler and Machinery Declaration page EXCEPT:
Question & Answers 2025
Stock - CORRECT ANSWER ✔✔Stock All of the following would be eligible for coverage under a BOP except: Self Storage Facility Office Building with 4 stories Bank Motel - CORRECT ANSWER ✔✔Bank A newly acquired auto is to replace a covered auto that has liability coverage only. How long will the insured have to request collision coverage on the new auto: 20 days 30 days 14 days 4 days - CORRECT ANSWER ✔✔4 days Which of the following types of personal property would NOT be covered under a homeowners policy?
Question & Answers 2025
Pets Money Watercraft Jewelry - CORRECT ANSWER ✔✔Pets In a surety bond the party that pays the premium would be: Bondsman Obligee Surety Principal - CORRECT ANSWER ✔✔Principal Things that increase the likelihood of a loss or the seriousness of a loss are called: perils hazards risks open perils - CORRECT ANSWER ✔✔hazards
Question & Answers 2025
Ocean Marine Hull Coverage - CORRECT ANSWER ✔✔Cargo Coverage A natural person employed to aid an insurance agent or insurance broker in transacting insurance other than life, disability, or health is an: Insurance broker Insurance agent Insurance solicitor Insurance salesperson - CORRECT ANSWER ✔✔Insurance solicitor Risk Retention Groups are: auto insurers owned by their drivers inland marine insurers owned by the Department of Insurance liability insurers owned by their policyholders life insurers owned by stockholders - CORRECT ANSWER ✔✔liability insurers owned by their policyholders In addition to ISO a commercial crime program falls under Jurisdiction of:
Question & Answers 2025
National Association of Insurance Commissioners Internal Revenue Service Surety Association of America FBI - CORRECT ANSWER ✔✔Surety Association of America The principle of restoring a victim of loss to the same financial position as before the loss occurred is called: indemnity estoppel consideration risk - CORRECT ANSWER ✔✔indemnity Long-term care policies may not be cancelled or non-renewed on the grounds of age. True False - CORRECT ANSWER ✔✔True
Question & Answers 2025
- Safeguard Rule, 2. HIPAA Rule, and 3. pretexting provisions
- Financial Privacy Rule, 2. Safeguard Rule, and 3. pretexting provisions
- IPPA Rule, 2. HIPAA Rule, and 3. pretexting provisions - CORRECT ANSWER ✔✔1. Financial Privacy Rule, 2. Safeguard Rule, and 3. pretexting provisions When written on a blanket basis, employee dishonesty coverage applies: per position per policy period per employee per loss - CORRECT ANSWER ✔✔per loss Supplement plans are meant to fill the gap in coverage that you find with medicare. What is true about these supplemental coverages D. Every company selling medicare supplement policies is required to have plan A C. They are not necessary for elders B. They require large premiums and deductibles
Question & Answers 2025
A. They are federally observed - CORRECT ANSWER ✔✔D. Every company selling medicare supplement policies is required to have plan A Every licensee and applicant for a license must immediately notify the commissioner in writing of any change in his residence address, business address, or mailing address. False True - CORRECT ANSWER ✔✔True Insurance broker means a person who, for compensation and on behalf of another person, transacts insurance other than life with, but not on behalf of, an insurer. False True - CORRECT ANSWER ✔✔True Which of the following must be provided when advertising insurance on the internet? Your license number
Question & Answers 2025
Sole remedy judgment Workers compensation remedy - CORRECT ANSWER ✔✔Family Member Services An umbrella policy covers: Excess liability and property damage to the insured Excess liability coverage beyond the underlying limits on a homeowners policy and auto policy Outside events (carnivals, fairs, etc.) Excess liability beyond the underlying limits on an auto policy only - CORRECT ANSWER ✔✔Excess liability coverage beyond the underlying limits on a homeowners policy and auto policy The California Insurance Code (CIC) consists of: statutes written and passed by the state legislature and signed into law by the governor laws written by the governor laws written by the federal government
Question & Answers 2025
statutues and laws written by the Insurance Commissioner - CORRECT ANSWER ✔✔statutes written and passed by the state legislature and signed into law by the governor What is true about the "shrinking limits" provision found in most EPLI policies? Insurers are not allowed to reduce/shrink limits for any reason Insurers can reduce coverage by a set amount each year, regardless of actual claims submitted Insurer payment of defense costs will reduce the policy limits Insurer will cover a claim only if it is smaller than the claim previously submitted - CORRECT ANSWER ✔✔Insurer payment of defense costs will reduce the policy limits Which of the following would NOT be considered an insured under the homeowner�s policy? The insureds spouse 18 year old daughter away at college 16 year old foster child residing on the premises
Question & Answers 2025
years old and has depreciated by $4,000. What will the homeowners coverage amount be? $12, $8, 0 $4,000 - CORRECT ANSWER ✔✔$12, Which type of pollution liability coverage can be written on either an occurrence or a claims-made basis? All of the choices can be written on either an occurrence or a claims- made basis Limited pollution liability coverage form Pollution liability extension coverage endorsement Pollution liability coverage form - CORRECT ANSWER ✔✔Pollution liability extension coverage endorsement Which of the following is NOT one of the three extensions of coverage under the special form?
Question & Answers 2025
newly acquired property outdoor property Collapse property off-premises - CORRECT ANSWER ✔✔Collapse An applicant for an insurance license must submit which of the following items: 1 - Department of Insurance application form 2- fees 3 - certificates showing completion of necessary course material 2 and 3 Only 1 and 3 Only 1 Only 1, 2 and 3 - CORRECT ANSWER ✔✔1, 2 and 3 Which of the following statements regarding a surplus lines broker is NOT TRUE?
