Fundamentals Of Insurance - Chapter 12 Practice Questions With Correct Answers 2023-2024, Exams of Advanced Education

Download Fundamentals Of Insurance - Chapter 12 Practice Questions With Correct Answers 2023-2024 and more Exams Advanced Education in PDF only on Docsity!

Fundamentals Of Insurance - Chapter 12

(Manitoba - Replaces Chapters 12 - 13-

14) Practice Questions With Correct

Answers 2023-

TRUE OR FALSE: In private automobile insurance provinces, they use The Standard Application Form (SAF #1) to apply for auto insurance - Correct Answer-True TRUE OR FALSE: Once a private auto insurer approves the application the policy will be issued of the Standard Policy Form (SPF #1 ) Owners Form - Correct Answer-True TRUE OR FALSE: B.c, Saskatchewan and Manitoba have established compulsory government insurance plans - Correct Answer-True TRUE OR FALSE: Manitoba has at fault risk when it comes to auto insurance - Correct Answer-False- Manitoba has implemented "No Fault" insurance plans The Manitoba Public Insurance Act was passed in ______? A) 1971 B) 1981 C) 1991 D) 2001 - Correct Answer-A) 1971 Autopac programs are made up of a combination of TWO Acts , Name the two acts - Correct Answer-1) The Highway Traffic Act

2. The Insurance Act The most important difference between on road and off road vehicle insurance is: A) Doesn't include comprehensive coverage B) Doesn't include Personal injury protection plan C) All of the above

D) None of the above - Correct Answer-B) Doesn't include Personal injury protection plan TRUE OR FALSE: The Autopac Insurance Work Station operates in real-time - Correct Answer-True What do the following abbreviations stand for? A) COI B) TOD C) NVIS - Correct Answer-A) Certificate of Inspection B) Transfer of Ownership Document C) New Vehicle Identification Statement TRUE OR FALSE: a NVIS is like a new cars "Birthcertificate" - Correct Answer-True TRUE OR FALSE: A NVIS comes with both a new and used vehicle - Correct Answer- False - NVIS comes with a brand new vehicle only TRUE OR FALSE: The legal owner and registered owner can be different - Correct Answer-True The following statements are true of the registered owner, except: A) Right of possession B) Care and custody of vehicle C) There can only be one D) The registered owner and legal owner are always the same - Correct Answer-D) The registered owner and legal owner are always the same Factors that affect Autopac premiums are: A) Where the insured lives B) Vehicle use C) Driving Records D) All of the above - Correct Answer-D) All of the above

What area is "Territory 1" referring to: A) Brandon B) Winnipeg C) Dauphin D) Thompson - Correct Answer-B) Winnipeg What territory does Churchill fall under? A) Territory 1 B) Territory 2 C) Territory 3 D) Territory 4 - Correct Answer-C) Territory 3 What territory does The Pas fall under? A) Territory 1 B) Territory 2 C) Territory 3 D) Territory 4 - Correct Answer-D) Territory 4 List the TWO common types of vehicle uses: - Correct Answer-1) Pleasure

2. All- Purpose Which of the following is true of a Pleasure passenger vehicle: A) Can be used to drive dependents to school B) Can't be used for business purposes C) Can only be driven to work or school up to 4 days a month ( or 1,609 km a year whichever comes first) D) All of the above - Correct Answer-D) All of the above

TRUE OR FALSE: All-purpose vehicles are used for pleasure and for driving to and from work to school without limits - Correct Answer-True What does CLEAR stand for? - Correct Answer-Canadian Loss Experience Automobile Rating System TRUE OR FALSE: the drivers safety rating scale has 30 levels - Correct Answer-False- the drivers safety rating scale contains 36 active levels from -20 to + When did the Personal Injury Protection Plan (PIPP) begin? A) March 1, 1995 B) March 1, 1994 C) January 1, 1994 D) January 1, 1995 - Correct Answer-B) March 1, 1994 What is the minimum third party liability coverage required by law in Manitoba? A) 200,000, B) 100,000, C) 200, D) 100,000 - Correct Answer-C) 200, For which of the following can Autopac refuse coverage: A) someone was driving who wasnt qualified by law B) Someone driving under the age of 16 without learners permit C) Qualified driver crashes into a wild animal D) Both A and B - Correct Answer-D) Both A and B Which of the following are NOT entitled to all perils coverage A) Trucks and Tractors w/ GVW over 16,330 KG B) Private Passenger vehicle C) Public Service Buses

D) Both A and C - Correct Answer-D) Both A and C Lay up coverage provides the following coverage: A) Road use B) Collision Damage C) Loss or Damage by perils (Fire, Lightening, Theft Vandalism) D) None of the above - Correct Answer-C) Loss or Damage by perils (Fire, Lightening, Theft Vandalism) New car protection can only be purchased up to ____ days after the vehicle was purchased A) 30 days B) 60 days C) 15 days D) 5 days - Correct Answer-B) 60 days