Liability coverage on a PAP will cover all of the following EXCEPT:

A.Driving a pickup or van while engaged in the business of farming

B.Towing a farm wagon with a 5 ton dump truck

C.Your 15 year old daughter driving without a driver's license

D.Supplementary payments in addition to limits

Answer: B.Towing a farm wagon with a 5 ton dump truck

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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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All of the following are considered limited lines of authority EXCEPT
What is the other term for the cash payment settlement option?
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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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The pro rata liability clause is designed to protect the principle of
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Which of the following is NOT true regarding the accumulation period of an annuity?
Which of the following is NOT true regarding a Certificate of Authority?
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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?
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