GI SAP October 2016

1.

2 points

Roberta has called to add contents to her existing building only W-polisy policy. What are the compliance and audit requirements for adding Roberta’s contents?

The FSR and security of the property (there is no need to do the checklist questions as the policy is already in place)

The FSR, DOD, last 2 checklist questions

The FSR, DOD, Checklist questions and the security of the property

The FSR, DOD and checklist questions

2.

2 points

What commission does the FSR state that we receive?

Up to 12.5%

Up to 20%

3.

2 points

Antonio has called to cancel his monthly W-polisy policy but you can see a payment is due in 2 days time. You’ve checked the 6O screen and a payment is pending, however the offline bill’s Run ID is showing as blank. How do you process this cancellation?

As the Run ID field is blank proceed with a billing cycle cancellation.

As the Run ID field is blank process the cancellation through the 13 screen as it means that the payment is able to be stopped.

As the payment is due in 2 days’ time and the payment is pending in the 6O screen, proceed with a billing cycle cancellation.

4.

2 points

Salvador has insured his home with us for the past 10 years, and has called to advise us that he is now running a hairdressing salon from home. Salvador wants to remain insured with Westpac. How do you manage this enquiry?

Hairdressing salons are an unacceptable risk so cancel the policy and advise the customer we can no longer insure his house

UW guidelines state it’s an unacceptable risk but because it’s an existing policy call underwriting for guidance. They will make the final decision and if necessary advise the cancellation reason in writing.

Hairdressing salons are an acceptable risk so page note the policy, and advise the customer that his legal liability cover won’t extend to his clients.

5.

2 points

Linh has a renewing W-polisy policy but would like to change her payment frequency from annual to monthly. How do you process this request?

Add PD details and amend the customers policy to monthly, remembering to check to make sure it has processed successfully

We are unable to process this request so advise the customer to pay annually

Set up a new policy, we are unable to change from annual to monthly at renewal

6.

2 points

Leroy has just set up an annual policy which is set to start in 2 weeks’ time. He would like to change it to monthly. How do you process this request?

We are unable to process this request so advise the customer to pay annually.

Set up a new policy, we are unable to change from annual to monthly for deferred new business

Add PD details and amend the customers policy to monthly, remembering to check to make sure it has processed successfully.

7.

2 points

On what page number in the W-polisy resource library would you find information on changes to the emergency services levy?

16

4

127

96

8.

2 points

Jasper took out a new policy on 20th September 2016. He then called on the 6th October 2016 wanting to cancel the policy as of today. What do you advise they will get as a refund?

They will get a full refund as it is within the cooling off period.

They will get a pro-rata refund of the part of the month they haven’t used.

They will get a pro-rata refund of the part of the month they haven’t used minus $30 administration fee

They won’t get any refund as they chose to insure elsewhere.

9.

2 points

What function key do you press to quote in W-polisy?

'F5'

'K'

'F7'

You don’t quote, instead end the endorsement and reverse if required.

10.

2 points

On what page number in the W-polisy resource library would you find the instructions to change a renewing policy from annual to monthly?

84

132

56

108