Property and Casualty Insurance - quiz 11 - Amrit Karki
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Question 1 of 10
1. Question
The collision limit mentioned in the collision insurance is
Correct
The insurer retains the right to pay or restore the damaged property for the loss of money or repair
Incorrect
The insurer retains the right to pay or restore the damaged property for the loss of money or repair
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Question 2 of 10
2. Question
The coverage on the dwelling and other buildings under the normal homeowner’s policy provides replacement, cost coverage if the
Correct
Otherwise, the coverage is for the actual cash value stated in the policy and it is not protected by the coinsurance clause.
Incorrect
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Question 3 of 10
3. Question
Benefits under the liability section of the auto policy are available only if
Correct
This at-fault system of settlement is also called the tort system; the tort system is the basis of personal injury lawsuits.
Incorrect
This at-fault system of settlement is also called the tort system; the tort system is the basis of personal injury lawsuits.
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Question 4 of 10
4. Question
Under a no-fault system of auto insurance
Correct
The benefits that would normally be paid by an at-fault party’s liability insurance become payable under the insured’s
Incorrect
The benefits that would normally be paid by an at-fault party’s liability insurance become payable under the insured’s
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Question 5 of 10
5. Question
The policyholder’s property is not covered by the auto liability insurance but
Correct
The auto liability mostly deals with automobile-related damages.
Incorrect
The auto liability mostly deals with automobile-related damages.
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Question 6 of 10
6. Question
Under collision insurance, if your vehicle is damaged in an accident the insurance will
Correct
The policyholder is responsible for the first $500 of the repair or replacement cost. This tends to eliminate the filing of small claims
Incorrect
The policyholder is responsible for the first $500 of the repair or replacement cost. This tends to eliminate the filing of small claims
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Question 7 of 10
7. Question
The collision limit as mentioned in the collision insurance
Correct
The insurer reserves the right to pay for the loss in money or repair or replace the damaged property
Incorrect
The insurer reserves the right to pay for the loss in money or repair or replace the damaged property
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Question 8 of 10
8. Question
If another driver is at fault for the accident in a court jurisdiction.
Correct
If the insurer decides not to sue, the policyholder can try to recover the deductible from the alleged at-fault driver or insurer, but at the policyholder’s risk and expense.
Incorrect
If the insurer decides not to sue, the policyholder can try to recover the deductible from the alleged at-fault driver or insurer, but at the policyholder’s risk and expense.
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Question 9 of 10
9. Question
Under an important principle called the doctrine of proximate cause, a loss is covered only if
Correct
A peril is covered if it is a named peril in a specified perils policy or it is not an excluded peril in a comprehensive or all-risks policy
Incorrect
A peril is covered if it is a named peril in a specified perils policy or it is not an excluded peril in a comprehensive or all-risks policy
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Question 10 of 10
10. Question
The coverage for the contents of the home also applies
Correct
Your homeowner’s policy will provide coverage for such a loss, normally anywhere in the world.
Incorrect
Your homeowner’s policy will provide coverage for such a loss, normally anywhere in the world.