Term
| A tool shed located in the insured's backyard is covered under DP |
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Definition
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Term
All of the following are covered by the DP forms except:
A. A tenant's personal property
B. a 6 family apartment building
C. a single family residence
D. a permanently installed mobile home |
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Definition
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Term
Fair Rental value under DP-3:
Is limited to _% of Covg. _
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Definition
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Term
| Under DP, an attached garage is covered under Covg. _ |
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Definition
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Term
Detached structures are covered under DP-1 in an amount of
_% of Covg. _ as an [addition/extension] |
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Definition
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Term
Personal property is covered under the DP forms:
A based on 10% of Covg. A
B up to $10,000
C up to the amounts stated on the declarations page
D based on an aggregatte amount of $12,000 |
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Definition
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Term
| The Fair Rental Value limit under DP-1 is _% of Covg. _ |
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Definition
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Term
Under Covg. C of a DP-3, which of the following would be excluded?
A Cash which was destroyed in a fire
B Sporting equipment such as golf clubs
C Clothing which was damaged by a covered peril
D A camera belonging to a 12 year-old son |
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Definition
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Term
Under Covg C of a DP, if personal property is moved to a new residence, coverage applies automatically at the new location for up to _ days.
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Definition
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Term
| Which mnemonic applies to Extended Perils? |
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Definition
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Term
| List W.C. SHAVVER perils: |
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Definition
Wind
Civil Commotion
Smoke
Hail
Aircraft
Vehicle
Volcanic Eruption
Explosion
Riot |
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Term
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Definition
Burglar Damage
Ice
Glass Breakage
Accidental Discharge
Falling Objects
Freezing of Pipes
Electrical
Collapse
Tearing Apart |
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Term
When is VMM covered under DP-1? What about under DP-2 or
DP-3? |
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Definition
| When insured purchases both EC and VMM endorsements. VMM is included under DP-2/3. |
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Term
| What are the DP/HO exclusions? |
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Definition
War
Earth Movement
Water Damage
Intentional Loss
Neglect
Power Failure
Statutory Exclusions
Nuclear Hazard |
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Term
| Rates must be filed with the commissioner within _ days of use |
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Definition
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Term
Which of the following does not need to hold an ins. license?
A A person soliciting ins in an agency w/o comm.n the
B A person selling ins door to door.
C A person soliciting ins. in the home office
D A pers delivering policies door to door |
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Definition
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Term
| Max fine for violating a cease and desist order? |
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Definition
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Term
| A producer may/may not solict ins when the exam is passed. An officer of an ins. may/may not produce w/o a license. A person can/can't be a producer if not a US citizen. |
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Definition
A producer may not solict ins when the exam is passed. An officer of an ins. may produce w/o a license. A person can be a producer if not a US citizen.
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Term
Which of the following is not a coercive occupation?
A Funeral home employee
B. bank employee
C. Real estate salesman
D. auto salesman |
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Definition
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Term
| The commisioner of insurance is appointed to a _ year term by the _ |
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Definition
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Term
| Insurance laws serve to protect _ |
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Definition
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Term
Pip provides covg. for
A survivors and property benefits
B survivors and medical benefits
C medical benefits only
D work loss and property benefits |
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Definition
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Term
Which isn't a common law defense regarding workers comp
A self inflicted injury by employee
B employee negligence
C harmful acts of other employees
D employee's awareness of risks of job |
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Definition
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Term
| Min MI no-fault residual liability limits |
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Definition
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Term
| Max PPI benefit under MI no-fault law is |
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Definition
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Term
the essential insurance act says prop covg can be denied in all of the following situations except:
A the applicant is ineligible
B the prop is uninsurable
C the prop has been vacant for more than 30 days
D the prop is below market value |
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Definition
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Term
| Farmer employees covered under Workers comp if the farmer : |
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Definition
| employs 3 workers for a min of 35 hrs a week, for 13 consecutive weeks. must be on a salary or hourly basis |
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Term
4 elig. points:__, ___,___
3 :___, ___
2 :____, ___, ___
Not eligible when have _ pts within past _ yrs.
Assume substantially at fault |
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Definition
4: careless driving, 15+ over, 2nd+ accidents
3: 11-15 over, 1st accident
2: 1-10 over, 1-15 over speed limit of 70+, other moving violations
6 pts in 3 years
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Term
| Workers comp = __% of workers take home pay. Maximum rate is _% of states average weekly wage. Rehab benefits provided for upt to _weeks |
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Definition
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Term
| MI no-fault consists of __, __, and ___ |
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Definition
| PIP, PPI, and liability covg. |
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Term
| Work loss benefits under PIP are _% for up to _ yrs |
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Definition
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