Property and Casualty Insurance Quiz

Which party holds real or personal property under a lease?

• Mortgagee

• Lessor

• Lessee

• Mortgagor

Which endorsement is added to a policy to limit glass coverage under the comprehensive section?

• Restricting Glass Coverage OPCF 13C

• Property Damage Reimbursement OPCF 8

• There is no endorsement that limits glass coverage

• Suspension of Coverage OPCF 16

Which endorsement is applied when a vehicle is rated on a predetermined value that limits the total amount payable in a claim?

• OPCF 19 Limiting the Amount Paid for Loss or Damage Coverages

• OPCF 7 Separate Limits Liability

• OPCF 19A Agreed Value of Automobiles

• There is no endorsement that can be applied to rate based on a value of an automobile

How can an Insured reduce their premium when they are NOT using the vehicle for an extended period of time?

• Request suspension of coverage endorsement

• Request a reduction in premium for the shorter coverage period

• Use the alteration endorsement

• Notify the Insurer who will make a not on the Insured’s file

When should an insured request OPCF 16 & OPCF 17?

• Takes a job as a school bus driver and uses their vehicle less frequently

• Goes away to Florida for 4 months every year and keeps their vehicle parked in their garage at home

• Wants to remove physical damage coverage on their vehicle

• Accepts a job in Australia and ships their vehicle over to drive there

What is an example of an endorsement that is Extending Coverage?

• OPCF 28A Excluded Driver

• OPCF 16 Suspension of Coverage

• OPCF 25A Alteration

• OPCF 20 Coverage for Transportation Replacement

What is the best way to insure the 1985 Dodge Viper that Paul has restored to its original condition?

• OPCF 19A, Agreed Value of Automobile

• OPCF 28, Reducing Coverage for Named Persons

• OPCF 29, Additional Coverage for Named Persons

• OPCF 19, Limiting the Amount Paid for Loss or Damage Coverages

What documentation do lienholders receive under OPCF 23 Endorsement?

• Certificate of Insurance as evidence of coverage

• Copy of the Endorsement as evidence of coverage

• Proof of insurance as their evidence of insurable interest

• Copy of the policy as evidence of their insurable interest

A risk or probability that the event insured against might occur. (2) A condition that engenders or increases the chance of a loss.

• hazard

• peril

• danger

• robbery

What is NOT a provision of the OPCF 27 endorsement?

• Coverage only applies if the automobile weighs 4500 kilograms or less

• Coverage is limited to a specific dollar amount per occurrence

• Coverage is limited to protect the insured only

• Coverage only applies if the automobile is being used with the owner’s consent