GENERAL INSURANCE ESSENTIALS
- C81 + C82 (EXAM STUDY NOTES
FOR GIE LICENSE EXAM IN BC
CANADA) 304 QUESTIONS WITH
ACTUAL SOLUTIONS!!
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- Insured's grandmother who lives with them
- 16-year-old foster child left in the care of the insureds
- Insured's twins, age 22, who are living at insured's home while attending
- Insured's common law spouse who moved in four months ago
university
- A form tractor and Canadian Savings Bonds
- A deed to the property and a canoe
- A frame building and its contents
- $50 in cash and a 1985 Pontiac Firebird
The actual cash value of the property The insured's interest in the property The policy limit
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With respect to federally licensed insurance companies, the Federal
Department of Insurance:
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Regulates the financial stability of Insurers Handles customer complaints regarding insurance Claims
Determines the eligibility of applicants for insurance Sets the premium rates for all insurance policies 2 / 4
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Term
What concept upholds the principle of indemnity?
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Warranty Insurable Interest
Renewal Of Licence Pure Risk
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What is one of the duties of a general agent?
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Select risks to insure Appoint other agents
Settle claims on behalf of the insurer Appoint public adjusters 3 / 4
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Term
What is the purpose of the anti-concurrent causation clause?
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To expand coverage to include all types of water damage.To eliminate any deductibles associated with water damage claims.
To limit coverage should more than one water damage peril occur simultaneously.To provide coverage for damages caused by natural disasters only.
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Term
What is covered under premises liability coverage?
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