An insured would be prudent to rely upon health insurance to cover injuries sustained in an auto accident because medical payments coverage under a
... [Show More] personal auto policy. (PAP - correct answer has relatively low limits
If a group of insureds are rated by class, they will - correct answer be charged the same premium rate
Nelson is the president of his company and has a company car. He does not have a personal auto policy because he does not own another vehicle. Which endorsement to his company's business auto policy (BAP) will protect him when he uses another vehicle - correct answer Drive other car (DOC) - Broadened Coverage For Named Individuals Endorsement
When the insurance policy provides crime coverage on a loss sustained basis, coverage is triggered by the loss that occurs - correct answer During the policy period and is discovered within one year after the policy period ends
The difference between the Pollution Liability Coverage (CG 00 39) and the Pollution Liability coverage Form (CG 00 40) is that the Limited Coverage Form - correct answer does not clean up cover cleanup costs
Felix owns a 80 year old apartment building with narrow stairways .if his building is seriously damaged, Felix will not be permitted to rebuild it unless he makes the stairways wide enough to meet the current building code. His property insurance will NOT cover the extra cost of such an alteration if the policy contains a typical - correct answer ordinance or law exclusion
Which are typically NOT among the provisions of a typical property and casualty insurance policy - correct answer Waivers
Liability insurance basically involves - correct answer Tort law
Gina was the only employee in OK Convience Store at 3 a.m. when a gunman entered the store and made her give him all the money in the cash register . which of the following correctly describes the cause of loss? - correct answer Robbery
How long is an insurance producer's license valid - correct answer three years
Which of the following is NOT a category of workers compensation benefits payable to an injured workers or his or her dependents? - correct answer Unemployment
Fran's personal auto policy (PAP) lists her three autos. Each uninsured motorists coverage with a $50,000 limit. Fran is permanently disabled by injuries she receives while riding in a friends car that is struck by a hit and run drivers, How much can Fran expect to collect under her APP's uninsured motorists coverage - correct answer $50,000
Mandy is injured in a collision with a motorist who has no insurance coverage. However she and her insurer cannot agree on the amount of compensation she is entitled to receive . The policy's arbitration provison will enable them to resolve their dispute over - correct answer whether Mandy is entitled to damages and the amount of the damages
acting on reliable information the commissioner decides to take immediate action against two insurance companies suspected of illegally fixing premium rates for a class of insureds. Which disciplinary measure will the Commissioner take first? - correct answer issue a cease and desist order
Genevieve wants to renew her Iowa insurance producer license. Which pf the following is NOT a condition of renewal - correct answer report of insurance sales she made in the last two years
When a meeting with a prospect to discuss insurance, agent Tyler makes disparaging comments about the financial stability and reputation of a competitor to dissuade the prospect from purchasing its policies . Which unfair trad practice has Tyler Committed? - correct answer Defamation
Overland Express Company is insured under a motor carrier policy. Which person is NOT insured under the policy's liability coverage? - correct answer Sunshine Fruit Farms, whose products are transported by Overland Express
Compensation for an employee's injury will be allowed only if the employer knew about the injury or was notified of it within how many days after the injury contract - correct answer 90 days after the injury occurred
The right of an employee to benefits under workers compensation laws does not exist if the injury.. - correct answer was willfully caused , such as one that was intentionally self inflicted
Which of the following statements is correct about an insurer who issues automobile liability policies to its insureds? - correct answer it must make available both uninsured and underinsured motorists coverage
Which of the following is NOT a requirement to obtain a resident producer's license? - correct answer appointment by at least two insurers
What action will result if a driver willfully or negligently fails to report a traffic accident - correct answer Suspension of a resident's license or a nonresidents operating privilege's
Because Cassie's apartment is on the ground floor , she realizes it would be easy for a thief to enter her apartment through an open window, so she keeps her windows closed and locked at all times . What risk management technique did Cassie use? - correct answer Risk Prevention
Will is employed as a roofer for Shingle-Minded Roofing . While working one day , Will falls from a roof and injured. When he seeks to file workers compensation claim, he discovers that Shingle Minded failed to secure workers compensation insurance which is a violation of state law. In most states what should Will do? - correct answer Will should seek statutory workers compensation benefits and sue his employer for negligence if allowed by statue.
Ace bank lends Alice some money to buy a car, which Alice is paying back installments. To protect its interest until the loan has been paid off, Ace Bank should insist that Alice's insurance policy include an endorsement that names the bank as a - correct answer Loss payee
Which of the following persons would not qualify for a temporary producers license in Iowa? - correct answer part time producer of a licensed agency
In connection with an upcoming construction project which it hopes to participate , a construction firm is required to furnish a contact bond guaranteeing that it will do the job at the quoted price if the contract is awarded to it what kind of bond is this ? - correct answer bid bond
FAIR plans (Fair Access to Insurance Requirements) provide insurance coverage that is not available from insurers in the regular market. Which of the following types of coverage is NOT generally available from a FAIR plan? - correct answer business income coverage
Which of the following acts does not constitute insurance fraud in Iowa? - correct answer forgetting a list a prior illness on an insurance application
In Iowa, what is the minimum required limit in auto insurance policy for coverage of bodily injury ? - correct answer $20,000
In Iowa, which of the following persons is NOT required to have an insurance producers License - correct answer Sven , who administers employee benefits
In a radio advertisement for her insurance agency, Jasmine knowingly makes statements that could deceive listeners about the products of a competitor. What has Jasmine committed - correct answer False Advertising
All of the following statements are true about applying for a nonresident producers license in Iowa EXCEPT - correct answer An applicant must establish residency in IOWA
Janet was injured while working as a maid in her employers home. She has worked for this employer for the past ten months and has an annual salary $25,000 . Do workers compensation laws apply to her? - correct answer No, because she was not employed for at least 12 cosnetuive months for this employer
The Insurance Commissioner can take all of the following actions against a party believed to have violated the insurance code EXCEPT: - correct answer order the arrest of the party
Hazels store has an automatic sprinkler system that will be activated by a fire. In exchange for a reduced fire insurance premium , she signs a document stating that the automatic sprinkler system will always be in operating condition. What is the statement? - correct answer a warranty [Show Less]