In which of the following instances would pollution liability be covered under a business auto policy?

A.When pollutants are being transported in a semi-trailer

B.When pollutants are being moved from or onto a covered auto

C.When pollution results due to the normal mechanical functioning of a covered auto

D.While pollutants are being stored in a covered auto

Answer: C.When pollution results due to the normal mechanical functioning of a covered auto

Casualty

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive?

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Which of the following terms best describe the coverage provided by term policies, as compared to any other form of protection?
All of the following are considered limited lines of authority EXCEPT
What is the other term for the cash payment settlement option?
The pro rata liability clause is designed to protect the principle of
What does the Group Life underwriting risk selection process help protect insurance companies from?
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All of these statements concerning whole life insurance are false EXCEPT
All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
All of the following could own group life insurance EXCEPT
Fixed annuities provide each of the following EXCEPT
What is the purpose of establishing the target premium for a universal life policy?
A domestic insurer issuing variable contracts must establish one or more
All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
All of these statements about the Waiver of Premium provision are correct EXCEPT
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A beneficiary change can occur
No existing agent's license will be revoked until
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A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
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Under an extended term nonforfeiture option, the policy cash value is converted to
Which type of life insurance policy generates immediate cash value?
What rule is used to determine the importance of a representation?
Which of the following is NOT the purpose of HIPAA?
The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following statements are true regarding installments for a fixed amount EXCEPT
Fraternal Benefit Society has each of the following characteristics EXCEPT
Which contract element is insurable interest a component of?
Which nonforfeiture option provides coverage for the longest period of time?
Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of:
A securities license is required for a life insurance producer to sell
Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
All of the following statements are correct regarding Credit Life Insurace EXCEPT:
All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
Health insurance will typically cover which of the following perils?
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Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death?
The authority granted to a licensed producer is provided via the
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Which of these would be the best example of a limited pay life insurance policy?
All of the following entities regulate variable life policies EXCEPT
The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
What is the benefit of choosing extended term as a nonforfeiture option?
All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT
All of the following statements concerning dividends are true EXCEPT:
All of the following are true regarding rebates EXCEPT
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All of the following are elements of an insurance policy EXCEPT
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All of the following are true of key person insurance EXCEPT
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Items stipulated in the contract that the insurer will not provide coverage for are found in the
All of the following would be different between qualified and nonqualified retirement plans EXCEPT
The paid-up addition option uses the dividend
A Universal Life insurance policy has two types of interest rates that are called
Which of the following statements about group life is correct?
The paid-up addition option uses the dividend
Another name for a substandard risk classification is
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
A tornado that destroys property would be an example of which of the following?
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Life income joint and survivor settlement option guarantees
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Which of the following is NOT true regarding the accumulation period of an annuity?
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The requirement that agents not commingle insurance monies with their own funds is known as
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What is the purpose of establishing the target premium for a universal life policy?
What is the other term for the cash payment settlement option?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
Insurance represents the process of risk
All of these are valid options for an Adjustable Life Policy EXCEPT
What is the purpose of establishing the target premium for a universal life policy?
Which of the following is NOT true regarding the accumulation period of an annuity?
Group health plans may deny participation based upon the
In insurance, an offer is usually made when
Which of the following is true regarding a market value adjusted annuity?
What is the other term for the cash payment settlement option?
What documentation grants express authority to an agent?

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