On a PAP, all of the following are true about uninsured motorist (UM) coverage EXCEPT:

A.It pays regardless of fault

B.A UM claim is turned into the insured's own insurance company

C.It covers injuries sustained by an insured when a hit-and-run driver is involved

D.It cannot be written for more than the insured's limits for bodily injury liability

Answer: A.It pays regardless of fault

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?

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A domestic insurer issuing variable contracts must establish one or more
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The pro rata liability clause is designed to protect the principle of
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Life insurance policies will normally pay for losses arising from
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Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
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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
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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
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The authority granted to a licensed producer is provided via the
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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?
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All of the following statements concerning dividends are true EXCEPT:
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What is the purpose of establishing the target premium for a universal life policy?
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What documentation grants express authority to an agent?

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