Marine Insurance (Ch.7)

The endorsement may restrict the insurer's ability to cancel a policy. It may require the insurer to notify the insured ……. Days in advance of a pending cancellation. 

• 55 to 70

• 45 to 60

• 20 to 30

• 5 to 10

Endorsements are issued by an insurance services organization like ISO. 

• Non- standard endorsement.

• Mandatory endorsement.

• Standard endorsement.

• Voluntary endorsement.

An endorsement is a written document, not necessary to attached to an insurance policy.

• TRUE

• FALSE

An endorsement can add coverage for acts or things that are not covered as a part of the original policy.

• TRUE

• FALSE

An endorsement is possible to be delayed if insured are late making the payment.

• TRUE

• FALSE

Endorsements are limited in quantity.

• TRUE

• FALSE

An endorsement may add, remove or alter the scope of coverage under the policy.

• TRUE

• FALSE

Standard endorsements are drafted for a specific insured.

• TRUE

• FALSE

Endorsements must be mandatory.

• TRUE

• FALSE

When an endorsement is mandatory, the insurer must include it in the policy.

• TRUE

• FALSE