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Chapter 11 Quiz
This quiz will test your knowledge on the material presented. Some questions may also test your knowledge on material not yet presented.
What is EDP insurance coverage for?
Computers, data systems, and income lost due to loss of electronic data processing capability.
Storage supplies and costs for storing items in an attempt to prevent further damage
Manual typewriters and historical artifacts
The National Fema Insurance Program
The National Formal Insurance Plan
The National Flood Insurance Program
The National Flood Instant Preparedness
What is not covered under a livestock floater?
If the insured carries 80% to value on the farm dwelling, how will the loss be paid?
On a replacement cost basis before repairs are made
On a replacement cost basis after the repairs are made
On an actual cash value basis
The policy will pay 80% of the $50,000 loss
"Custom farming" means ___.
Farming for others
Personal product farming
Specialized crop farming
Gretchen’s insurance deductible for physical damage to her aircraft was ___.
A percentage of the value
A disappearing deductible
A franchise deductible
A flat deductible
Since the policy did not provide for this type of coverage, the airline decided to amend the policy by endorsement to include aircraft medical payments for injuries to:
The general public
The officers of a corporation
Mr. Donald owned a small farm specializing in growing kiwi fruit. He had receipts for his farming that totaled $1,000 in 2009, $4,500 in 2010, and $5,000 in 2011. For which year was Mr. Donald required to sign a “custom farming” endorsement?
All of the following are included under the Farm liability coverage EXCEPT:
Medical payment to others
Bodily injury and property damage
Personal injury and advertising injury
The major difference in the basic farm form and the broad farm form is that one:
Provides broader farm liability
Has a lower property deductible
Offers broader coverage for livestock
Contains a broader theft peril
The basic farm coverage form includes all of the following EXCEPT:
Livestock and farm machinery
Outbuildings pertaining to the dwelling
If your score is below 70%, please Try Again.