Property and casualty Missed practice Exam Questions and Answers (Solved Papers) who is NOT considered an employee in a commercial general liability (CGL) policy?
- temporary worker
- leased worker
- full-time worker
- Part-time worker - Correct Answers ✅A (in CGL policy, a
- telemarketers
- field underwriters
- Insurers
- insurance solicitors - Correct Answers ✅A
- they provide information about a customers character and
- the customer has no knowledge of this action
- The consumer's associates, friends, and neighbors provide
- they provide additional information from an outside source
temporary worker is not considered an employee) The national do not call registry was created to regulate
In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports?
reputation
the report's data.
about a particular risk. - Correct Answers ✅C (reports are 1 / 4
Property and casualty Missed practice Exam Questions and Answers (Solved Papers) provided from an outside source about a customer's character. both reports are used under Fair Credit Reporting Act) an insurance company assures its new policy holders that their premium costs will not increase for a period of at least five years. however due to increasing financial strain, they plan to raise premium costs for all insureds by 10% over the next two years. What term best describes this act?
- unfair discrimination
- erros and omissions
- fraud
- defamation - Correct Answers ✅C
(any falsely omissions of material fraud are considered unlawful insurance fraud) a premium discount is the term that describes when an insured owes a total standard premium greater than
A. $15,000
B. $1,000
C. $5,000
- $10,000 - Correct Answers ✅C (loss sustained crime
coverage pays for losses that occur during the policy period and are found for up to 1 year after the policy is terminated) 2 / 4
Property and casualty Missed practice Exam Questions and Answers (Solved Papers) Which type of commercial crime policy coverage is triggered by a loss that happens during the policy period, but is not necessarily discovered during the policy period?
- loss sustained form
- retroactive form
- mysterious disappearance form
- discovery form - Correct Answers ✅A (loss sustained
- it will provide coverage because the damage to the client
- it will not provide coverage; such physical damage to
- it will not provide coverage because the property damage
- it. will provide coverage because punitive damages have
crime coverage pays for losses that occur during the policy period and are found for up to 1 year after the policy is terminated) an insurance producer fails to obtain automobile insurance for a client after agreeing to do so. this client is involved in an automobile accident after running a red light and is found to be at fault. the damage to the other vehicle totals $5,000.which statement regarding the producer's errors and omissions liability policy is true?
resulted from the producers negligence
property is not covered
resulted from the client breaking the law
been awarded. - Correct Answers ✅A (Errors and omissions coverage protects insurance producers and brokers from 3 / 4
Property and casualty Missed practice Exam Questions and Answers (Solved Papers) financial losses they may suffer if an insured sues to recover his or her financial loss due to the producer giving incorrect advice or not informing the insured of important issues) a temporary license is good for
- 30 days
- 60 days
- 90 days
- 180 days - Correct Answers ✅D
In the event of a claim under a commercial general liability policy, the insured has all the following duties to the insurer
EXCEPT
- submitting to a medical exam when requested
- providing prompt written notice of any claim or suit
- Furnishing. the insurer with copies of any demands,
- assisting the insurer upon the request of any right against
- Correct Answers ✅A. (under medical payments coverage,
- / 4
actually filed against the insured
notices, or other legal papers received in connection with a claim or suit.
any person or organization that. may be liable to the insured.
the injured third party has to submit to an exam upon request, not the insured)