Reference no: EM133331209
Property and Casualty Insurance (New York)
1. When a commercial crime form includes coverage for employee theft, which of the following is TRUE?
A. It covers company securities that are stolen by an employee.
B. It covers insider trading by an employee.
C. The shortage may be established by a profit and loss calculation.
D. The loss may result when an employee's personal identity is stolen.
2. Under the Personal Automobile Policy, trailers would NOT be covered when towed by a -
A. pickup truck used on a farm.
B. private passenger vehicle.
C. customized van taken on a vacation.
D. dump truck used to haul trash.
3. After a vehicle related loss, the insured MUST permit an inspection and appraisal of the damaged vehicle
A. before it is repaired or disposed of.
B. within six days of the loss.
C. within 48 hours of the loss.
D. after it is repaired.
4. After a vehicle related loss, the insured MUST permit an inspection and appraisal of the damaged vehicle
A. before itis repaired or disposed.
B. within six days of the loss.
C. within 48 hours of the loss.
D. after it is repaired.
5. All of the following are TRUE in regards to the other states section of the workers' compensation policy EXCEPT
A. the state must be listed in the information page of Part One.
B. the insured must provide notice to the insurer as work begins in a new state.
C. may be used to provide coverage for states not listed in the information page.
D. all states are automatically included.
6. An insured's home is built on a flood plain, therefore the home is susceptible to flood damage. This is an example of
A. strict liability.
B. risk sharing.
C. exposure.
D. damage.
7. A deli customer died from food poisoning because the chicken salad was not prepared correctly. Which type of loss Is this an example of
A. Bodily injury.
B. Property damage.
C. Health injury.
D. Personal injury.
8. An insured loses control of his car, hitting the neighbor's parked car, then he hits the neighbor's house, and runs over the insured's bicycle that was in his neighbors yard. The insured's Automobile Liability Policy will NOT cover the
A. injuries to the occupants of his car.
B. damage to the neighbor's car.
C. damage to the neighbor's house.
D. damage to the insured's bike.
9. What is one of the MAIN differences between Part One of the policy (workers' compensation) and Part Two of the policy (employer's ability?
A. Part One covers workers' compensation exposures while Part Two covers general liability exposures.
B. Under Part One, payments are made regardless of fault; under Part Two, negligence must be established by the claimant in order for payments to be made.
C. Part One covers statutory workers' compensation benefits, but Part Two covers non-statutory workers' compensation benefits.
D. Under Part One, the employee can sue the employer if the employer was at fault, under Part Two, the employee can sue a third party for damages.
10. In New York state, coverage for damage to the dwelling from vandalism and malicious mischief is excluded under the Homeowners Policy the de
A. unoccupied for more than 60 consecutive days immediately before the loss.
B. vacant for more than 30 consecutive days immediately before the loss.
C. under construction.
D. burglarized.