Essentials for Agent & Broker Final Exam Review

Some insurers offer discounts to specific types of clients or risks such as

Which of the following is not a reason for the employer to need employer liability insurance

Non owned auto covers employers when employees use their own vehicles during the course of employment

Improvements & Betterments for Condo policies covers the insureds improvements within the unit ie. fixtures/fittings/etc

Umbrella policies cover dropdown coverage and some gaps in coverage from underlying policies subject to terms

Seasonal dwelling coverages may exclude malicious mischief,vandalism and glass but they might be added by endorsement

Car sharing links vehicle renters to owners via an app to allow those who don't own a vehicle, access to one

Commercial property policies can include

Third party liability insurance covers injury or damage to a third party cause by any of the following except

Ground water is found in the cracks and spaces in soil, sand and rocks & it can constitute the water table

Which of the following is an example of the O in COPE?

What is the timeframe required for a statement of claim response in Ontario

Identity theft insurance can cover

Excess coverage follows the

A breach of a policy condition may cause the insured to __________ their right to recover under the policy

There is an exclusion for boat coverage due to use of the boat during layup

The owernship of animals can be a concern as well. The first bite rule is in effect currently

Overland water refers to surface water

With insuring computers, determining personal or commercial use is key. Which of the following is correct?

With personal lines package policies, which of the following is not an exclusion on the policy

A Waiver of Rights is a document that

Rental units are considered more of a commercial risk once they have more than 3 units

Seasonal Dwellings present different exposures than primary residence, which of the following is not unique to seasonals

Which type of adjusters are required to be licensed

The ABC rule is used to prove negligence. Which of the of the following is not a part of the ABC rule

Farms can be challenging to consider insuring as they incorporate both personal and commercial exposures?

What type of loss can be just as devasting as fire (choose the most correct)

The provinces that offer government issued auto insurance are

Products liability coverage typically includes those who are

FNOL stands for First Notice of Loss

Farms can have liability exposures that combine

Environmental Impairment Liability Coverage does not cover

Special Limits of Insurance could be applicable to the following items on a a personal lines package policy except?

Legal Liability can be imposed in different ways. The two most common torts are

The term referencing the non owned auto exposure for employers is

Reasons for an inspection on a property could include which of the following

Compulsory automobile coverages include all except

Vicarious Liability can be imposed by

With absolute liability, there is no need for negilgence to be proven

With respect to liability, which is not correct of liability exposures and coverages provided

The ownership of dangerous things can impose liability. It can include a swimming pool or pond

Buildings designated historic in nature may require specially tailored insurance wordings or high risk insurance markets

If claims are typically more complex, which of the following would be assigned

Liability exposures on a personal policy can include legal,voluntary medical payments/property damage/residence employee

Protection is referencing

Unidentified motorist coverage is someone who may or may not be responsible but fled the scene without being identified

A benefit of the liability in the personal lines package policies is the coverage is usually worldwide

Musical instruments and camera equipment are required to identify the professional vs personal use due to

If the insured refuses to sign a non waiver agreement from by the insurer, a reservation of rights letter will be sent

The rebuilding clause will impose which of the following requirements

Loss Assessment coverage on a condo policy will cover which of the following

Building Age and type of construction are BOTH incorporated under the Construction or "C" of COPE?

The term insured includes which of the following