Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link When an insured purchases the new vehicle replacement plus (NVR+) endorsement, at what point is the vehicle written off? A. When any amount of insured damage is sustained to the vehicle B. When the amount of insured damage exceeds the vehicle's fair market value C. When the insured would prefer to have the vehicle replaced instead of repaired D. When the amount of insured damage exceeds half of the vehicle's market value Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link A chef accidentally drops a kitchen towel onto a lit stove in a restaurant. The towel catches fire, and the fire spreads through the kitchen. The restaurant's sprinkler system is activated, and the fire department arrives to extinguish the fire. The kitchen equipment sustains fire, smoke, and water damage. What is the peril in this scenario? A. Fire B. Negligence C. Water D. Smoke Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which type of loss is EXCLUDED under a basic homeowners policy? A. Flooding B. Explosion C. Impact by aircraft D. Transportation of personal property Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which activity best represents the term selling within an insurance interaction? A. Meeting client needs with products B. Harvesting referrals from current clients C. Presenting clients with the highest premium options D. Cold calling as many prospective clients as possible Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link What is a deductible for a first-party automobile loss? A. An amount the insured must pay on a claim after the insurer has paid to the maximum policy limits B. A specified amount the insured must pay on a claim before the insurer will cover the rest of the claim C. A variable amount the insured must pay to a third party towards damages for which the insured is liable D. An amount by which the insurer may discount the insured's premium as a reward for a loss-free policy term Submit Answer