If an insurer terminates a producer, the Commissioner will receive a notification. Within how many days of this notification must the producer be sent a copy?
15
A business income coverage form would cover all of the following situations EXCEPT
A union strike of construction workers causes the repair of the insured's building to be delayed for a period of time.
Which of the following is NOT settled on an actual cash value basis while covered under the business property coverage form?
Valuable papers and records
Expenses that an organization would not have incurred if business interruption had not existed are known as
extra expenses
Which of the following terms refers to other insurance that is written on the same risk, but not on the same coverage basis?
Nonconcurrency
Under a businessowners policy, an insured can cancel the policy
At any time by mailing a written notice of cancellation
All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT
Dividends from a mutual insurer.
Which part of an insurance policy covers claims-related expenses, reasonable expenses incurred by an insured to protect damaged property from further loss, or defense expenses?
additional coverage
All of the following are conditions commonly found in the insurance policy EXCEPT
Insuring agreement
Under businessowners policy Section I, if an insurer wants to cancel a policy for any reason except nonpayment of premium, how many days before the effective cancellation date must the insurer notify the mortgageholder?
30 days
An applicant knowingly fails to communicate information that would help an underwriter make a sound decision regarding coverage. This is an example of
concealment
Under Coverage C of a farm policy, what is the limit payable on business property located away from the premises?
$500
The pro rata liability clause is designed to protect the principle of
indemnity
What is the maximum amount an insurer will pay under the equipment dealers pollution cleanup and removal extension of an inland marine policy?
$10,000 for all expenses incurred during a 12-month period
n which of the following situations would the jewelers block extension cover a loss?
A jeweler fixes a necklace and sends it by registered mail to the owner. When the necklace arrives, it has been damaged.
A unique feature in a bailee form is that it covers
Customers' property whether or not the insured has been negligent.
Which of the following insurance options would be considered a risk-sharing arrangement?
reciprocal
An individual's construction company leaves mobile equipment and construction machinery on the job site until the project is completed. What could this individual use to insure it?
Contractors equipment floater