Free Life and Health General Insurance Concepts Questions and Answers

Question 1

Medical payments under a homeowners policy are available for expenses resulting from an injury to which of the following?

Accepted Answer

A residence employee

Answer

The named insured

Answer

A person who is at the insured location without permission

Answer

Any regular resident of the insured's household who pays rent

Question 2

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?

Accepted Answer

Valued or agreed amount policies

Answer

Indemnity policies

Answer

ACV policies

Answer

Market value policies

Question 3

When an uninterrupted chain of events resulting from a negligent act causes a loss, that act is considered to be which of the following?

Accepted Answer

The proximate cause of loss

Answer

An assumption of risk

Answer

An intervening cause

Answer

A matter of strict liability

Question 4

For how many days does the coverage apply at another location for property removed to protect it from a flood under the National Flood Insurance Program?

Accepted Answer

45 days

Answer

60 days

Answer

30 days

Answer

15 days

Question 5

In legal terms, when one party's actions result in giving up a known right, what has the party created?

Accepted Answer

Waiver

Answer

Unilateral contract

Answer

Representation

Answer

Warranty