The insured carries collision and other than collision coverage. Which of the following losses would be considered a collision claim?

a - A rock rolls down a hill and strikes the insured vehicle

b - The vehicle is damaged when a flood occurs and a large log strikes the vehicle

c - The insured is going around a curve and fails to miss a large boulder in the road

d - A tree falls on the vehicle causing hood and glass breakage damage

Answer: c - The insured is going around a curve and fails to miss a large boulder in the road

Alabama Property and 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

In insurance,

In insurance, A) contracts made by the agent are considered to be contracts of the producer B) contracts made by the principal are considered to be contracts of the agent C) the insurer is the principal and the producer is the agent D) the producer is the principal and the insurer is the agent Answer: the insurer is the principal and the producer is the agent

Which is generally true regarding insureds who have been classified as preferred risks

Which is generally true regarding insureds who have been classified as preferred risks A) They can borrow higher amounts off of their policies. B) They can decide when to pay their monthly premiums. C) They keep a higher percentage of any interest earned on their policies. D) Their premiums are lower. Answer: Their premiums are lower

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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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The pro rata liability clause is designed to protect the principle of
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The voluntary relinquishment of a legal right is called
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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
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Which nonforfeiture option provides coverage for the longest period of time?
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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?
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Which of the following statements about group life is correct?
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Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
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Life income joint and survivor settlement option guarantees
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Which of the following is NOT an example of utilization review?
The requirement that agents not commingle insurance monies with their own funds is known as
An individual purchased a $100,000 Joint Life policy on himself and wife. Eight years later, he died in an automobile accident. How much will his wife receive from the policy?
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
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Which of the following is NOT true regarding the accumulation period of an annuity?
Group health plans may deny participation based upon the
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