Oklahoma PSI Insurance Agent Test II

1.

1 point

One of these is not a requirement of the auto policy in the event of an auto loss, which one?

cooperate with the insurer

complete a proof of loss if requested

forward any legal papers concerning auto accidents

get an estimate of the damage

2.

1 point

Devon is in an auto accident and the other party is at fault. Devon will be making a claim for injuries against the other parties' auto insurance. What will Devon be called?

principal

first party

third party claimant

Insurer party

3.

1 point

Other than collision coverage provides for damage to the vehicle except?

hitting a turkey in the road

tree falling on the car

civil commotion

upset of the vehicle

4.

1 point

Which of these would NOT be considered a covered driver under a personal auto policy?

the name insured for ownership, maintenance or usse of

a permissive user

a permissive user in the auto business

any resident family member a permissive user

5.

1 point

Which of these types of property is covered by the Homeowners or Dwelling Policy?

securities

family dog

money

expensive stereo

6.

1 point

Which of these is not a characteristics of the Oklahoma Assigned Risk Plan law?

It is available to drivers with poor driving records

All auto insurance companies would be required participate in the plan

It is affordable to all drivers

It generally would be considered a last resort

7.

1 point

Which of these situations would provide coverage under the auto policy?

the insured assaulting another driver after an fender bender

using a motorcycle

insured injured while "on the job"

using the insured car for business

8.

1 point

All of these would be conditions of the commercial Property Coverage except?

Coverage for merchandise in Mexico

subrogation against negligent parties

liberalization clause

Concealment, misrepresentation, or fraud could effect loss payment

9.

1 point

If an insured has a DP-3 policy, what type of perils are provided for the personal property section?

open perils

same as the dwelling coverage

same as the DP-2 perils

same as the DP-1 perils

10.

1 point

In Oklahoma, if an auto policy has policy dates of 2/12/10 to 2/12/11, when would the coverage expire?

12:00 PM 2/12/11

12:01 AM 2/12/11

12:01 PM 2/12/11

12:00 AM 2/12/11

11.

1 point

Which of these situations would require a uninsured motorist selection/rejection form?

removing the comprehensive and collision insurance

deleting a car from the policy

adding a car to the policy

replacing a vehicle on the policy

12.

1 point

One of these motorized vehicles is not eligible for a personal auto policy. Which one?

Luxury Sports Utility Vehicle

Harley Davidson Motorcycle

car used to and from work

pick up used for business

13.

1 point

What are the minimum limits of auto liability in Oklahoma?

25/50/25

25/50/50

10/20

25/50/10

14.

1 point

What is the maximum # of roomers allowed under a dwelling policy?

5

4

2

8

15.

1 point

Which of the following would be eligible for a Personal Auto Policy?

van used to deliver children for the day care

travel trailer

all terain vehicles

boat

16.

1 point

What is the minimum amount of Uninsured Motorist Coverage in Oklahoma?

25/50

10/20

50/100

10/20/10

17.

1 point

How many days of vacancy triggers the vacancy clause on a Homeowners Policy?

30

20

90

60

18.

1 point

When Charles purchased his auto insurance, he decided to buy 50
/100/50 liability. What is the maximum amount of uninsured motorist coverage he would be allowed to select?

100/300

10/20

50/100

25/50

19.

1 point

Under the rental reimbursment coverage, how many hours after the car is stolen does the insurer wait before paying for transportation expense coverage?

24

12

48

72

20.

1 point

Wilma and Betty have storm damage to their flower shop. The business income coverage is providing loss of income replacement. When do these payments stop?

when the policy expires

when the business is restored as long as the storm damage occured within the policy term

when the business operation is restored as long as the policy is not expired

the next policy inception date

21.

1 point

If an Umbrella Policy has liability protection under the Unbrella that is not provided by the underlying policy, what would the insured be required to pay in order for the policy to respond?

self insured retention

self insured retention amount

deductible

excess over coverage amount

22.

1 point

The property and Casualty Association does all the following services except?

pays losses for insolvent insurers

claims are paid faster for policies of insolvent insurers

provides Workers Compensation policy protection for insolvent insurers

regulates insolvent insurers

23.

1 point

In the event of a loss the insured must do all the following except?

protect from additional damage or loss

notify the police if you have a collision

notify the insurer

allow the insurer to inspect the damage

24.

1 point

Since not only owning a vehicle but operating a vehicle is required to show they are responsible for any accidents, what coverage does person purchase if they do not own a vehicle but drive one regularly?

garagekeepers

no-fault auto

proximate cause auto

non-owners coverage

25.

1 point

If a person decides to not go sky diving while on vacation in Cancun they are excercising the following risk management method?

transfer

retain

reduce

avoid

26.

1 point

Under the law in Oklahoma, which of the following best describes when financial responsibility is required?

ownership, maintenance, or use of

ownership

laoning money to purchase a vehicle

maintenance or use of

27.

1 point

Under the law in Oklahoma, is Uninsured Motorist coverage required?

Yes, according to Federal Law

No, and the rejection applies when the policy renews

Yes, according to Oklahoma Insurance Code

No, and the rejection waives future options

28.

1 point

One of these statements is true about Uninsured Motorist Coverage in Oklahoma which one?

the insured rejects the coverage every policy term

It provides uninsured motorist protection only

it does not provide for property damage losses

a hit and run driver situation would not be provided

29.

1 point

The state of Oklahoma requires Insurers allow a premium discount if auto operators attend an accident prevention course. In which of the following situations would the discount not be allowed?

signing up for and attending an approved course

attending the course to get an alcohol related accident reduced

taking an approved field driving course

repeating the course every 3 years

30.

1 point

Which of the following is not excluded under a flood policy?

damage to the walls of a basement

a dock

indirect loss coverage

single family dwelling