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Question 1

Which action reduces a hazard?

Options :

A : Installing anti-slip floor tile in the hallway

B : Using high beams at night on a busy highway

C : Shutting off sprinkler systems during renovations

D : Removing protective packaging around items being moved

Answer: A

Question 2

Usually, what must an insurance intermediary do before using the personal information of a client for a purpose other than that for which the information was originally collected?

Options :

A : Obtain permission from the client to do so

B : Write to the client advising of the alternate usage

C : Advise the insurer’s ombudsperson of the intended usage

D : Obtain permission from the federal privacy officer to continue

Answer: A

Question 3

If one in every five houses suffers a $50,000 loss each year, and all houses have the same value, what would the pure premium be for each homeowner?

Options :

A : $2,500

B : $5,000

C : $10,000

D : $100,000

Answer: B

Question 4

Which type of policy must be signed by a member of each participating insurer?

Options :

A : Prescription

B : All-inclusive

C : Subscription

D : Subrogation

Answer: C

Question 5

In a non-proportional (excess of loss) reinsurance contract, the reinsurer agrees to pay the portion of any loss thatexceeds $80,000, up to an additional$100,000. How much would the primary insurer pay for an insured loss of$60,000?

Options :

A : $0

B : $20,000

C : $36,000

D : $60,000

Answer: D