Casualty Pearson VUE Practice Tests Questions and answers, 100% Accurate, rated A+

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Casualty Pearson VUE Practice Tests Questions and answers, 100% Accurate, rated A+ A private passenger auto policy may be canceled more than sixty days after the effective date for what reason? ... (i.e. drivers license status) - ✔✔-Suspension of the insured's driver's license An insurance company may deny an employee's claim for Workers Compensation benefits if the employee was: - ✔✔-drunk and caused the injury Under the automobile insurance plan (AIP), all of the following coverage's are available to the eligible owner of a private passenger vehicle EXCEPT: - ✔✔-Rental Reimbursement The account of an insured employees workers compensation disability payments is based on the employer's - ✔✔-Weekly wage Proof of Motor Vehicle Liability insurance is required of the driver when ____ a vehicle - ✔✔-When registering a vehicle Proof of Financial Responsibility for damages caused by an automobile accident may be shown by all of the following documents EXCEPT: - ✔✔-A certified financial statement Which of the following statements is CORRECT about Uninsured/Underinsured Motorists coverage in this state? (it is subject to _____ by the policyholder in ____) - ✔✔-It is subject to rejection by the policyholder in writing A candidate for licensure as a property insurance produce must have completed a MINIMUM of how many hours of prelicensing education? - ✔✔-15 hours An employer who has been refused Worker's Compensation coverage by at least four insurance companies may apply for coverage with - ✔✔-The Assigned Risk Plan The Workers Compensation Act provide coverage for all of the following losses EXCEPT: - ✔✔-An on-thejob injury sustained by an employee who was intoxicated If an insured has more than one auto policy that provides Uninsured Motorists coverage, which of the following statements about the recovery of benefits is CORRECT? (total recovery is ____ to the highest or lowest limits of those coverages?) - ✔✔-Total recovery is restricted to the highest limits of those coverages The Nonrenewal of an auto policy does not become effective until how many days after the insured receives notice from the insurance company? - ✔✔-30 days Which of the following companies MUST participate in the Auto Insurance Plan? - ✔✔-All companies that sell auto insurance in this state Which of the following policies is intended to broaden the coverages and increase the limits of underlying insurance? - ✔✔-Umbrella Liability Under a Commercial General Liability Policy, medical payment expenses MUST BE: (___ within [x] year of the [time frame] of the ____) - ✔✔-reported within 1 year of the date of the accident Which of the following individuals is likely to have a valid Workers Compensation claim? - ✔✔-An employee injured while undergoing job training The principle of actual cash value is applied to claims for which of the following policies? (3 words) - ✔✔-Auto Physical Damage W, an electrician, caused damage to the main wiring of a shopping center while working on another building. As a result, the shopping center was forced to close early for the day. The loss resulting from this damage would be considered which of the following types under W's Commercial General Liability policy? - ✔✔-Operations Insurance purchased to protect an insured from death, injury, disability or property damage of another is defined as: - ✔✔-Liability insurance A Business insured under a Commercial General Liability policy has a General Aggregate limit of $1,000 and an Occurrence limit of $100,000. An injured party is awarded $100,000. What limits will remain available to the insured? - ✔✔-General Aggregate of $900,000; Occurrence Limit of $100,000 Which of the following vehicles is considered a covered auto under a Personal Auto Policy? A _____ car purchased a [time frame] ago but (has been/not yet) ____ to the insurance company - ✔✔- A Replacement Car purchased by the insured a week ago but not yet reported to the insurance company A Commercial General Liability policy provides coverage for which of the following hazards? (____ Liability) - ✔✔-Premises Liability Which of the following kinds of property/casualty insurance do CO rate regulations NOT apply to? - ✔✔- Surplus Lines insurance A bond guarantees the fulfilling of an obligation by one party to another party by a third party is known as a: - ✔✔-surety bond Which of the following occurrences would be included under the definition of a personal injury? - ✔✔-A tenant is evicted by his landlord and sues the landlord for invasion of privacy and wrongful eviction. (personal injury includes invasion of privacy) Under a Fidelity Bond, which of the following individuals is considered the obligee? (Employee or employer?) - ✔✔-An employer Principal (aka obligor), obligee, and surety (aka guarantor) definitions: A. Principal Definition +responsibility B. Obligee Definition +outcome if principal defaults on obligation C. A. Surety Definition +outcome if principal defaults on obligation - ✔✔-A. Principal= person who promises to fulfill obligations and purchases the bond; + goes through underwriting proces [Show More]

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