Question 1

Car insurance may be canceled if the insured loses his or her license because of a driving violation.

Accepted Answer

A) True 
 B)False

Question 2

________ insurance provides a specific sum of money upon the death of the insured.

Accepted Answer

A)  Casualty
B)  Life
C)  Risk
D)  Consumer
E)  OccurrenceF) A) and B)
G) C) and E)

Question 3

If an insured makes a claim for property damage and the insurer offers a payout lower than what the insured believes the property was worth,the insured can demand an appraisal under the contract's antilapse clause.

Accepted Answer

A) True 
 B)False

Question 4

insurance protects contractors against liability for injuries that might occur while completing a job,excluding injuries to employees.

Accepted Answer

A)  Harm liability
B)  Contractors' liability
C)  Professional liability
D)  Compensation
E)  Building liabilityF) A) and C)
G) B) and E)

Question 5

Premiums for whole-life insurance are generally smaller than those for term-life insurance.

Accepted Answer

A) True 
 B)False

Question 6

Federal law is the primary law addressing when an insurance company can cancel a policy of insurance.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following best describes the insured's duty to cooperate with the insurer?

Accepted Answer

A)  The insured must provide information regarding the incident that led to the claim and provide a deposition within 30 days of the claim.
B)  The insured must provide information regarding the incident that led to the claim.
C)  The insured must provide information regarding the incident unless he or she is being sued as a result of the incident.
D)  The insured must provide information he or she finds relevant to the incident that led to the claim.
E)  The insured must provide information regarding the incident but does not have to provide self-incriminating information.F) B) and E)
G) B) and D)

Question 8

The insurer would likely attempt to deny coverage based on which of the following legal theories?

Accepted Answer

A)  Breach of contract
B)  Negligence
C)  Recklessness
D)  Illegality
E)  MisrepresentationF) A) and C)
G) A) and B)

Exam 51: Insurance Law

Which of the following best describes the insured's duty to cooperate with the insurer?

Correct Answer
verified

Car insurance may be canceled if the insured loses his or her license because of a driving violation.

Correct Answer
verified

________ insurance provides a specific sum of money upon the death of the insured.

Correct Answer
verified

Federal law is the primary law addressing when an insurance company can cancel a policy of insurance.

Correct Answer
verified

If an insured makes a claim for property damage and the insurer offers a payout lower than what the insured believes the property was worth,the insured can demand an appraisal under the contract's antilapse clause.

Correct Answer
verified

insurance protects contractors against liability for injuries that might occur while completing a job,excluding injuries to employees.

Correct Answer
verified

Premiums for whole-life insurance are generally smaller than those for term-life insurance.

Correct Answer
verified

The insurer would likely attempt to deny coverage based on which of the following legal theories?

Correct Answer
verified

Exam 51: Insurance Law

Which of the following best describes the insured's duty to cooperate with the insurer?

Correct AnswerverifiedShow Answer

Car insurance may be canceled if the insured loses his or her license because of a driving violation.

Correct AnswerverifiedShow Answer

________ insurance provides a specific sum of money upon the death of the insured.

Correct AnswerverifiedShow Answer

Federal law is the primary law addressing when an insurance company can cancel a policy of insurance.

Correct AnswerverifiedShow Answer

If an insured makes a claim for property damage and the insurer offers a payout lower than what the insured believes the property was worth,the insured can demand an appraisal under the contract's antilapse clause.

Correct AnswerverifiedShow Answer

insurance protects contractors against liability for injuries that might occur while completing a job,excluding injuries to employees.

Correct AnswerverifiedShow Answer

Premiums for whole-life insurance are generally smaller than those for term-life insurance.

Correct AnswerverifiedShow Answer

The insurer would likely attempt to deny coverage based on which of the following legal theories?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified