CISR MISC REVIEW EXAM 20 Questions with Answers,100% CORRECT

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CISR MISC REVIEW EXAM 20 Questions with Answers The coverage provided for children's motorized riding toys while off the "insured location" by the 2011 Homeowners Policy is granted by an exceptio... n to the exclusion. All of the following are required for there to be coverage except: - CORRECT ANSWER It must be designed for children under the age of 12 Aiden owns a lawn care business. He has converted his detached 2-car garage so that he has an office and storage space for this lawn equipment. Which of the following actions should Aiden take for his Homeowners Policy to cover his equipment? - CORRECT ANSWER Add the Permitted Incidental Occupancies - Residence Premises (HO 04 42) Your customer calls you on Monday morning to tell you about the snowmobile competition he won over the weekend. He then tells you he plans to do this more often. Which statement offers the best response for you to give your customer about his plans and his Homeowners 3 - Special Form Policy and the liability coverage offered? - CORRECT ANSWER His Homeowners Policy has an exclusion for practicing or racing for pre-arranged or organized race, speed contest or competition Which of the following statements would you NOT use to explain the exclusions found within the named perils listed for personal property in the Homeowners Policy that are important for those customers who own watercraft? - CORRECT ANSWER Damage to watercraft, trailers, outboard motors, furnishings and equipment will have the excluded named perils the insured selects at the time the policy is written When describing the exclusion for Watercraft Liability found in the ISO Personal Umbrella Policy, all of the following statements could be used correctly except: - CORRECT ANSWER The Exclusion for Watercraft Liability has an exception that gives back a basic $100,000 limit for all watercraft claims not covered by the underlying insurance While explaining the HO 24 75 Watercraft Endorsement to your customer, which of the following statements would not be used to describe the limitations that still exist for the customer and their scheduled watercraft? - CORRECT ANSWER The endorsement does not extend Medical Payments to Others Richard and Crystal have a Personal Auto Policy with bodily injury limits of $250,000 per person / $500,000 per accident and a Homeowners Policy with Section II limits of $300,000. They also have a $1,000,000 Personal Umbrella Policy. All underlying insurance requirements have been met. While driving, Crystal hits a man crossing the crosswalk resulting in a $400,000 bodily injury claim. How much of the $400,000 will their Umbrella Policy pay? - CORRECT ANSWER $150,000 Tom owns a home on 2 acres of land in a northern state. During the winter he uses a snowmobile to assist him in servicing the residence. When asked about the property coverage provided by his unendorsed Homeowners 3 - Special Form, all of the following statements are true except: - CORRECT ANSWER His policy has a $1,500 Special Limit of Liability for the snowmobile Besides the #1 reason, that being to provide our customers with the protection they need in the event of a loss, there are other sound business reasons an agency should offer Personal Umbrella/Excess Liability coverage? All of the following are those reasons except: - CORRECT ANSWER Qualify for annual promotional trip All of the following situations would be excluded in Section II Liability of the Homeowners Policy, except: - CORRECT ANSWER The insured's 17-year old daughter damages the neighbor's table while babysitting the neighbor's 2 children during the summer months. To explain the liability coverage provided for watercraft by the unendorsed Homeowners 3 - Special Form, which statement would NOT be used? - CORRECT ANSWER Watercraft that are owned and powered by Inboard and Inboard-outboard engines that are less than 75 horsepower are covered A Hybrid policy is said to be neither a true Umbrella Policy nor an Excess Liability Policy. Hybrid policies vary in many ways. All of the following are true about Hybrid policies except: - CORRECT ANSWER The value of the Hybrid policy is that it will always provide broader coverage and higher limits than the underlying policies Which of the following individuals is involved in a "business" as defined in the Homeowners Policy? - CORRECT ANSWER Alex is a part time CSR in the local insurance agency. Which activity described below would NOT be within the exception to the exclusion for Other Business Use and therefore would NOT be covered under the Personal Auto Policy? - CORRECT ANSWER George rents a 24 foot moving van to move his office furnishings to his new office on the other side of town The ISO Personal Umbrella Liability Policy has four Additional Coverages. Each of the following is one of those four except: - CORRECT ANSWER Pre judgment interest A customer has asked you about what limit of coverage, if any, she has with her Homeowners Policy for damage to her small fishing boat, its trailer and motor. You advise her that there are several areas to discuss, however you begin with the following: - CORRECT ANSWER The policy has a Special Limit of Liability that applies to the boat, trailer, motor and equipment and furnishings of $1,500 George uses his personally owned golf cart at the club for golfing. He also uses it to drive to the course from his home. When he asks about the liability coverage provided by his Homeowners 3 - Special Form Policy, all of the following are correct responses EXCEPT: - CORRECT ANSWER He will have coverage at any time he has his golf clubs strapped securely to the cart the way the manufacturer intended. Mike has an unendorsed Homeowners 3 - Special Form Policy. Select the description of the use of the detached garage where the policy would provide property coverage for the garage. - CORRECT ANSWER Mike rents space in the garage to his tenant Shawna to store her extra clothes. Your customer operates her golf cart inside her community to go to the community center for church, bingo, social events, and golfing. She has asked you about the property coverage provided by her Homeowners 3 - Special Form for the damage that might be done to the golf cart. Which of the following statements best describes the property coverage provided? - CORRECT ANSWER There is no property coverage on the Homeowners Policy unless it is used solely to service her residence or to assist the handicapped, and it is not required to be registered Irene rented a four wheel ATV while vacationing with her children. During a ride on the first trail, she lost control of the ATV and it was severely damaged. Which of the following statements correctly explains the exclusion if any found in the Homeowners 3 - Special Form that would apply? - CORRECT ANSWER The policy contains an exclusion for property rented to, occupied or used by or in the care of an insured [Show More]

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