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A resource covering the principles and applications, providing individuals and businesses with financial protection against potential risks and losses.
Which conditions under implied conditions?
Under liability insurance policies, what does the term "personal injury" usuallymean?
Premium: $80 Deductible: $500 Copay: $25 Out of Pocket Maximum: $2,500. What is the most you will pay for a year?
What type of Medicare plan covers prescription medications?
Under most property insurance policies, the policy territory includes which ofthe following?
Car B is not insured, what is one way Car A can have the damages paid for.
An insured has a terminal illness and needs to access 1/3 of his death benefit to pay mounting medical expenses. Which rider would meet the insured's current needs?
Your deductible is $550. So far this year you have paid $300 towards your deductible. If your medical bill is $100, how much will you pay?
An agent follows the rules and terms of his agent contract. He is exercising his _______ authority.
You laptop was missing during your vacation at one of hotel in Langkawi. Which subrogation that may arise from this situation ?
Which are the followings are the role of the director general of Insurance ?
What does bodily injury cover?
Claims-made general liability coverage does notapply to bodily injury or property damage that occurs when?
Two components of liability coverage.
What is the tallest mountain in the world?
Annie had a railway accident in 2018. This considerably weakened her health and she never regained full agility after the railway accident. In 2023, she could not avoid a street accident and got run over by a bus. She has an which covers railway accidents but not bus accidents. Can she indemnify her losses due to the street accident under the policy?
Coverage that provides financial protection against loss from the damage caused by something other than collision, such as fire, theft, and vandalism is called _______________.
The amount that must be paid by the patient for medical services before the policy begins to pay is the:
A cause of loss.
What is considered the total amount of income
Which best describes industrial insurance?
Bellatrix takes a life insurance policy in the name of her sister, Narcissa. A couple of years later, Narcissa dies by poisoning. It is later found in investigation that Bellatrix had in fact poisoned Narcissa. Is the insurance company bound to indemnify the loss of Narcissa's life to Bellatrix?
A device that is used to minimize small nuisance claims and that helps to keep insurance premiums down is called what?
What health insurance plan is sponsored by a large company who forms a contract with certain health agencies to provide certain types of health care at reduced rates?
True or False? You must be enrolled in Medicare Plan C to be eligible for Medicare Plan D.
A(n) _________ is the amount of money you must pay each year before your insurance company starts paying
How old do you have to be to be eligible for Medicare?
Something that might increase the likelihood that a loss will occur is called what?
In legal terms, the actions of one party might have the effect of giving up a known right. When this occurs, the party has created which of the following?
According to the California Insurance Code, what information is the agent required to include on their business card?
Which statement about the life insurance code and ethics is not true?
Which are the structures of scheduled policy? Please tick below.
Tommy Greene has a CLU certification. Which of the following names would automatically approve for use as his agency's name?
Insurance industry is supervised by ___________________
A crash that you cause, either partially or completely. After an at-fault accident, your liability insurance pays out up to the chosen limits for other people's injury and property damage bills, plus your legal defense costs if you're sued.
When Do I need ALE insurance?
Managed care networks are required to provide quality care at the:
all of the following are the institutions under Insurance industry EXCEPT:
A client's flexible premium is invested into a separate account. What type of insurance product did he purchase?
A small fixed fee paid by the patient at the time of an office visit.
Oldest type of insurance
When an uninterrupted chain of events resulting from a negligent act causes a loss, that act is considered to be which of the following?
You will keep paying the coinsurance until you have met this...
A person who is blind is eligible for what type of state-administered medical assistance program?
The insurance company's process of evaluating how risky you are is based on factors such as your vehicle, location, accident history, credit, and age. An insurer uses its underwriting findings to calculate your rates.
If a person has 80/20 co-insurance, what percent does the insurance company pay?
If your policy covers $100,000 of Bodily Damage and you cause $234,000 of Bodily Damage what will happen?
In a seven-year vesting schedule, what percentage of employer contributions is vested after seven years?
The Golden Gate Bridge is in the city of ________
What do the initials PPO stand for?
The things that you own like furniture, electronics, and clothing. Whether you own a home or rent an apartment, insurance policies typically include personal property coverage. This type of coverage helps pay to repair or replace your belongings after a covered loss, such as theft or fire.
A page in your policy listing its most important details, including your car’s VIN and other information, your address, drivers insured on the policy, liability limits and included coverage.
I own a Condo. Give the steps needed to get a Renters policy.
Policies issued under the National Flood Insurance Program provide removal coverage for property removed to protect it from the flood. This coverage applies at another location for up to how many days?
Advantages of Roadside Assistance
A commercial property coverage part with the basic causes of loss form attachedcovers all of the following perils except which one?
Which below are the first Insurance regulations in Malaysia ?
If one of the parties in the contract breached the duty of UGH, it can leads to _________.
__________ is acts on behalf of insured or customers.
Under the business auto coverage part, each of the following is true about theclassifications of covered autos, which are designated by numerical symbolsshown in the declarations, except for which ofthe following?
Under Insurance Act 1996, person aged 10-16 years old is allowed to enter the contract.
John must pay $10 for each visit to his physician. What term describes the $10 payment?
Which type of insurance professional does not actually sell insurance coverage but sells advice about insurance coverage?
Which of the following is not true about difference in conditions (DIC)insurance?
What type of coverage do I need if I crashed but the other driver just hit and run?
It helps pay to repair damage you cause to another person's vehicle or property.
If coverage for personal liability and medical payments is attached to adwelling policy, what basic limit of coverage applies to medical payments unlessa higher amount is purchased?
Rank from lowest to highest the amount of monthly income that would result from the following annuity settlement options:
You have reached your deductible of $2000, but you have not reached your maximum out-of-pocket limit of $4000 and your co-insurance begins. Your co-insurance is 20%. How much do you have to pay if you go to the doctor and the visit is $150?
All of the following statements about mutual insurance companies are correct, except:
Once you pay your deductible, you will have to pay this...
WFI Landlord Plan - We pay up to _____ times the weekly rent payable (Rent Default)
An insurer's loss ratio is determined by dividing what?
What is the largest country in the world?
You have met your deductible. How much will you pay on a bill if your coinsurance is 25% and your bill is $2,850?
This is what you pay at the beginning of the month for health insurance.
What is meant by underwriter?
When someone uses Medicare to pay for health care services, what percent does the individual pay?
All of the following are dividend options, except:
In which two states can you drive without any auto insurance?
What is a Preauthorization
A beneficiary decides to take the option that will have the largest amount per payment, knowing after death, no money will be paid out to any descendants. The settlement option is:
In your personal opinion, what is the main problem you have with insurance products as a customer ? Please tick ONE (1) only.
Bob and Neal are partners in a law firm together. If one of them were to pass away, they want to make sure that their surviving family will receive a fair value for their stake in the business. What life insurance arrangement would be most suited for transitioning the business during this time of loss?
What is the definition of out-of-pocket maximum?
You have met your deductible. The bill is $300 and your coinsurance is 30%. What will you pay?
Tom Baxter has an automobile insured by a personal auto policy. He trades in his car and purchases a new private passenger auto as a replacement vehicle. If he does not notify the insurance company, the liability coverage for his replacement vehicle will apply automatically for how long?
Which of the following is NOT considered Contents in a Landlord policy?
What kind of health insurance would someone who works for a corporate company usually have?
It covers injuries or damages to third parties and their property—not to the driver or the driver's property, which may be separately covered by other parts of their policy.
What type of health insurance is available for low income families, children needing assistance or the disabled?
Give THREE (3) reasons why insurance business is subjected to government regulation.
Which health insurance plans allows for freedom of choice when it comes to provider but usually requires the patient to pay up front for services?
Which one is NOT one of the seven continents of the world?
Our Landlord policies do not cover for tenant _____, carelessness, ____ housekeeping, or ________ living habits
Pays for other drivers and passengers' injuries when the policyholder is at fault in an accident. Bodily injury liability can cover medical bills, funeral expenses, lost wages, legal fees, and other related costs.
Under a personal auto policy, if an insured already has physical damage coveragefor at least one vehicle, a new vehicle will be automatically covered from thedate it is acquired as long as the insured notifies the insurer and requests thecoverage within how many days?
What is the term we used when we need to make alterations or amendment in our original insurance policy ?
The cost of treating injuries to the driver and passengers of the insured's auto if involved in an accident.
A life-only agent issues a binding receipt to his client since the client did include a check for the initial premium with his completed application. Which is true?
What type of Medicare plan covers outpatient services which usually require paying a premium and deductible?
What's the longest river in Africa?
What is a copayment?
What is not covered by collision insurance?
A deductible is described as the following: A dollar amount that each enrollee must pay for certain covered services before insurance begins paying benefits.
Is a coverage that helps pay to repair or replace your car if it's damaged in an accident with another vehicle or object.
According to the code, any person legally capable of making an insurance policy is considered:
Davis is planning to get motor insurance for the stolen car. This situation is refer to the missing of ______________ under insurance's principle .
Under which type of marketing system do agents or agencies operate asindependent businesses but agree to represent only one insurance company?
CGU Landlords - Accidental Damage by a Pet ....
The policyholder protected in case of a loss or claim.
Robin has a fire insurance policy for his shop premises in Kalamassery. Unfortunately, it catches fire on a day. Later, it was found that while the efforts to put out fire were going on, someone/ some persons stole Rs.10,000 that Robin had kept in his table from the store. This is where he usually keeps the moneys received during the course of business and takes it with him at the end of the day. Can Robin claim the losses under his fire policy?
Consideration flowing from the insured to the insurer in a contract of insurance is called _______.
Which rider pays a multiple of the original face amount?
Karla has been receiving social security for two years and now has a disability. What federal insurance is she eligible for?
What is the disadvantage of belonging to an HMO?
Is a way to purchase extra liability coverage that goes above liability limits in another insurance policy. That means if you cause an accident and reach your auto policy's liability limits, this policy would kick in to help pay the remaining covered costs.
How are the standard Homeowners policies divided?
Is the part of a homeowner's insurance policy that may help pay to rebuild or repair the physical structure of your home.
What kind of insurance covers a worker who is injured on the job?
1. Is used when the at-fault driver doesn't have enough (or any) liability coverage.2. Can save you from having to pay out of pocket for a car accident you didn't cause.3. Usually costs more to add to your policy in states with more uninsured drivers.
An employee has lost access to their group term life insurance plan, but they are allowed to convert to a new plan. Which best describes this new plan?
CGU Loss of Rent - after the death of a sole tenant we will pay up to ____ to a maximum of ____
In the event of a physical damage loss that makes a covered auto unavailable fora period of time, a personal auto policy will provide coverage fortransportation expenses at the rate of $20 per day up to how much?
Who pays the medical bills in the first stage of health insurance?
In disability insurance, the period of time between when the disability started and the commencement of benefits is the:
An insurance or licensed to operate by the state insurance agency where the company operates. They typically contribute to the state guaranty fund, which protects policyholders from the bankruptcy of their insurance carrier.
Under the NCCI worker's compensation and employers liability policy form, thebasic, or minimum, limit for employer's liability coverage is how much peraccident?
What's the Maximum limit for Rent Default under a CGU Landlord policy
An insurance contract has to be in writing
True or False? Type A Medicare covers the cost of a nursing home.
Any person who misappropriates fiduciary funds for personal use is guilty of:
A house, apartment, or other place of residence.
Some property insurance policies provide for payment of the full policy limit in the event of a total loss by a covered peril, regardless of the actual value of the property. These policies are known as which of the following?
Mrs. Anderson needs to invest the proceeds from her late husband's life insurance. She invests a portion of the money into an annuity. Since she is 62 and is still working, she decided to purchase a single premium deferred annuity. She won't need an income for a few more years. What should the agent make sure Mrs. Anderson understands?
Causa proxima in relation to risk means
Under liability insurance policies, what does an "aggregate limit" mean?
Is the stuff you own - furniture, electronics, and clothing. It helps to pay to repair or replace your belongings after a covered loss, such as theft or fire.
What health insurance plan is designated for military personnel and their families?
Savithri has a life insurance policy in her name. The insurance company has a condition that she ought not do things that alter the risk. With her friends, she climbs up a small peak in her locality to enjoy the sunset. Can the insurance company repudiate her policy?
what is the meaning of "consensus ad idem" or meeting of minds under consent ?
It is the amount equal to the replacement cost minus depreciation of a damaged or stolen property at the time of the loss.
What kind of information that going to be asked in proposal forms ? Kindly list out any FIVE (5) of it.
The amount of money the policyholder must pay on a loss.
The most you will pay for the year is...
Medical payments under a homeowners policy are available for expenses resulting from an injury to which of the following?
Someone who processes claims filed with insurance companies, either from insureds or claimants. They review the facts of each case and determine an appropriate claim settlement under the terms of the insured's policy.
The out-of-pocket max is a cap or limit on the amount of money you have to pay for covered services in one year.
A part of your homeowners policy that provides reimbursement for living expenses when loss of or damage to property by a covered peril forces you to maintain temporary residence elsewhere. Also known as additional living expenses.
Your deductible is $600. Copay is 25%. So far this year you have paid $200 towards your deductible. If your medical bill is $150, how much will you pay?
In the WFI Landlord Plan --- Damage caused by tenants falls under an optional benefit in WHICH section of the policy?
Rajat who lives in Kerala loves and adores actor Mohanlal. He has met the actor a couple of times and spoken to him. He genuinely wishes the actor well and wants to insure the actor's life. Will A be able to do so?
What is the name of platform created by BNM along with few institutions for customers to assess any insurance information and matters?
How many elements of contract of insurance ?
An action, condition circumstance or situation that makes the occurrence of a loss more likely. Read more to understand hazard insurance for your home.
How does the IRS classify the two different types of retirement accounts?
Which of the following characteristics would not stop an insurance company from accepting an insurance risk?
Which key features of new legislation that relates to Islamic financial sector ?
Which of the following does NOT affect the cost of your car insurance?
Does the WFI Landlord policy cover damage caused by or arising out of or in connection with germs, bacteria, disease, virus or other contagions?
Which of the following statements about a resident life-only agent licensing is incorrect?
Vandalism or a Malicious act : a wrongful act motivated by malice, vindictiveness or spite with the intention of ........................
It is a damage or theft to your insured's auto.
advertising is the one of the function of proposal form. Why ?
The cost of your auto insurance, either monthly, yearly or per six-month period.
Your health care policy starts over every year.
If general liability "claims-made" coverage is renewed by "occurrence" coverageand the insured purchases a supplemental extended reporting period (ERP), theperiod for reporting claims under the policy will be extended for how long?
Which is a false statement? The California Insurance Commissioner is:
Pays to repair or rebuild your house and structures attached to it.
Which of the following would not be considered a speculative risk?
Your insured's legal responsibility to others for bodily injury or property damage
CGU Landlords - When a rental agreement defaults to a periodic tenancy, we will only cover you for .......
Which dwelling policy forms are named peril forms?
What's the name of the policy that covers for jewelry, fine art or sports?
When the special causes of loss form are attached to a commercial property coverage part, coverage for theft of furs and fur garments is limited to how much?
In a non-contributory group policy:
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