IIC Principles and Practice of Insurance - C11 Exam Questions
QUESTION NO: 1
Rashida claims she told her broker about the swimming pool when binding coverage. The adjuster disputes coverage because the insurer was not informed. What should have been done to prevent this dispute?
Rashida claims she told her broker about the swimming pool when binding coverage. The adjuster disputes coverage because the insurer was not informed. What should have been done to prevent this dispute?
Correct Answer: B
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QUESTION NO: 2
Which insurance industry impact is an example of a surety?
Which insurance industry impact is an example of a surety?
Correct Answer: A
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QUESTION NO: 3
Orianna is an insurance professional who acts on behalf of the insurerandthe insured. She owns her client list and is paid commission once policies are arranged. What is her profession?
Orianna is an insurance professional who acts on behalf of the insurerandthe insured. She owns her client list and is paid commission once policies are arranged. What is her profession?
Correct Answer: A
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QUESTION NO: 4
Which statement best describes a valued contract?
Which statement best describes a valued contract?
Correct Answer: C
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QUESTION NO: 5
Which legal term describes the time in which a claim may be brought by the policyholder?
Which legal term describes the time in which a claim may be brought by the policyholder?
Correct Answer: C
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QUESTION NO: 6
Ivana is in an auto accident. The agreed market value of her vehicle is$17,000.
Her policy deductible is$1,500.
A wrecking company offers$3,000for the salvage.
Ivana chooses tokeep the salvage.
What amount will Ivana receive?
Ivana is in an auto accident. The agreed market value of her vehicle is$17,000.
Her policy deductible is$1,500.
A wrecking company offers$3,000for the salvage.
Ivana chooses tokeep the salvage.
What amount will Ivana receive?
Correct Answer: C
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QUESTION NO: 7
Whose signatures wouldusuallyappear on therisk's policy?
Whose signatures wouldusuallyappear on therisk's policy?
Correct Answer: B
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