Insurance Concepts and Terminology, Exams of Advanced Education

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FUNDAMENTALS OF INSURANCE EXAM

QUESTIONS AND ANSWERS 2023-

RISK - Correct Answer-IS THE CHANCE OF FINANCIAL LOSS PERIL - Correct Answer-IS THE CAISE OF FINANCIAL LOSS FOR EXAMPLE- FIRE WATER AND EARTHQUAKE WHAT IS THE MAIN PURPOSE OF INSURANCE - Correct Answer-IS TO ALLOW THE SPREAD OF RISK INDEMNITY - Correct Answer-MEANS RESTORING THE INSUREDS TO THE SAM FINANCIAL POSITION AS THEY WERE IN IMMEDIATELY PRIOR TO THE LOSS. WHOSE OPTION IS TO OF HOW THEY WANT TO SETTLE A CLAIM? - Correct Answer-THE INSURER INSURANCE INDEMNIFIES - Correct Answer-FUTURE AND ACCIDENTAL LOSSES ONLY, NOT THE PLANNED LOSSES DIRECT WRITERS - Correct Answer-IN THIS METHOD PRODUCERS ARE EMPLOYEES OF THE INSURER. THEY ARE PAID REMUNERIATION BY THE WAY OF SALARY. INSURER OWNS CUSTOMER FILES INDEPENDANT BROKERAGES - Correct Answer-THEY ARE SELF EMPLOYED, THEY ARE NOT EMPLOYEES OF THE INSURANCE COMPANY THEY REPRESENT. THEY ARE PAID COMMISSION. THE CUSTOMER FILES ARE OWNED BY THE BROKERAGE PURE RISK - Correct Answer-THERE IS ONY A CHANDE OF FINANCIAL LOSS WITH NO CHANCE OF PROFITING FROM IT FOR EXAMPLE, FIRE LOSS SPECULATIVE RISK - Correct Answer-THERE IS A CHANCE OF FINANCIAL LOSS AS WEL AS A CHANCE OF FINANCIAL GAIN WHAT ARE THE 4 WAYS OF LIVING WITH RISK - Correct Answer-AVOIDANCE OF RISK- ACTING LIKE ITS NOT THERE CONTROLLING OF RISK- GETTING THINGS INSTALLED TO LESSON THE RISK RETENTION OF RISK- SAVING MONEY TO DEAL WITH RISKS AS THEY COME TRANSFER OF RISK- PURCHASING INSURANCE CONTRACT - Correct Answer-IS A LEGAL PROMISE MADE BY TWO OR MORE PARTIES WHICH CAN BE ENFORCED THROUGH THE COURT OF LAW

WHAT ARE THE FIVE ELEMENT OF A CONTRACT - Correct Answer-AGREEMENT CONSIDERATION LEGALITY OF OBJECT LEGAL CAPACITY OF PARTIES GENUINE INTENTION THE AGREEMENT OF AN INSURANCE CONTRACT - Correct Answer-WHEN BOTH PARTIES AGREE ON PARTICULAR POINT CONSIDERATION OF AN INSURANCE CONTRACT - Correct Answer-AN EXCHANGE OF SOMETHING OF VALUE BETWEEN THE PARTIES TO A CONTRACT LEGALITY OF OBJECT - Correct Answer-FOR WHICH A CONTRACT IS WRITTEN SHOULD BE LEGAL OBJECT LEGAL CAPACITY OF PARTIES - Correct Answer-ALL PARTIES TO CONTRACT SHOULD HAVE LEGAL CAPACITY TO ENTER INTO A CONTRACT GENUINE INTENTION - Correct Answer-NO INFLUENCE OR VIOLENCE IS USED ON EITHER PARTY TO ENTER INTO A CONTRACT BINDER - Correct Answer-THE BROKER HAS COMMITTED AN INSURER TO A CONTRACT OF INSURANCE ON ANY RISK ENDORSEMENT - Correct Answer-IT MEANS TO CHANGE THE TERMS AND CONDITIONS OF AN EXISTING INSURANCE POLICY RIDER - Correct Answer-THE COVERAGE OF AN ADDITIONAL PERIL OVER AND ABOVE THE EXISTING PERILS COVERED IN THE POLICY WHAT DOES THE FEDERAL GOVERNMENT DO - Correct Answer-IT MONITORS THE FINANCIAL HEALTH OF FEDERALLY LICENSED INSURERS WHAT DOES INSOLVENT MEAN - Correct Answer-THOSE WHO ARE NOT ABLE TO PAY ALL INSURED LOSSES WHAT DOES SOLVENT MEAN - Correct Answer-THOSE WHO ARE ABLE TO PAY ALL INSURED LOSSES WHAT HAPPENS WHNE AN INSURED BECOMES INSOLVENT - Correct Answer- THE PROPERTY AND CAUSALITY INSURANCE COMPENSATION CORPORATION TAKES OVER THE BUSINESS AND PAYS THE LOSSES

WHAT DOES THE PROVINCIAL GOVERNMENT DO - Correct Answer-THRY APPROVE THE CONTENT OF INSURANCE CONTRACTS IT LICENSES THE INSURERS OPERATING WITHIN THE PROVINCE INCLUDING FEDERALLY LICENSED INSURER IT ALSO MONITORS THE FINANCIAL HEALTH OF THE INSURERS WHICH OPERATE IN THE PROVINCE ONLY WHAT IS A FIDUCIARY - Correct Answer-SOMEONE THATNHANDELS SOMEONE ELSES MONEY WHO ARE FIDUCIARIES - Correct Answer-INSURERS AND BROKERS WHY SHOULD BROKER NOT USED UNEARNED COMMISSIONS - Correct Answer- SO THAT IT IS AVAILABLE IN THE TRUST ACCOUNT TO BE REFUNDED TO THE CLIENT IN CASE THE POLICY IS CANCELLED WHO HAS THE AUTHRITY TO MAKE ALTERATIONS TO THE POLICY - Correct Answer-A PERSON WHO IS AUTHORIZED BY THE INSURER, BROKERS ARE GENERALLY NOT AUTHORIZED WHAT IS THE REMOVAL CLAUSE - Correct Answer-WHEN A PROPERTY IS REMOVED TO AN UNNAMED LOCATION TO PROTECT IF FROM DAMAGE OR FROM FURTHER DAMAGE IS COVERED UP TO 7 DAYS OR FOR THE REMAINDER OF THE POLICY, WHICH EVER ONE IS SHORTER WHEN DOES AN INSURANCE POLICY TAKE EFFECT - Correct Answer-AN INSURANCE POLICY STARTS AT 1201AM STANDARD TIME AT THE ADDRESS OF THE NAMED INUSRED AS STATED HEREIN. WHAT IS SUBROGATION - Correct Answer-WHEN THE INUSRERS CAN SUE THE PARTY RESPONSIBLE FOR THE LOSS OF THEIR CLIENT TO RECOVER MONEY AFTER PAYING THE CLAIM. WHAT IS SUBROGATION LIKE? - Correct Answer-ITS LIKE PUTTING SOMEONE IN ANOTHER PERSONS SHOES EFFECT OF A DELIVERY OF AN INSURANCE POLICY - Correct Answer-THE INSURED IS ELIGIBLE FOR A CLAIM IF THE DOCUMENTS HAVE BEEN DELIVERED TO HIM OR HER EVEN IF NO PAYMENT HAS BEEN MADE. WHAT ARE THE TWO TYOES OF FIRE - Correct Answer-FRIENDLY FIRE AND HOSTILE FIRE WHAT IS FRIENDLY FIRE - Correct Answer-WHEN A FIRE STAYS WHERE IT BELONGS, IT IS CALLED FRIENDLY FIRE

WHAT IS HOSTILE FIRE - Correct Answer-WHEN A FIRE ESCAPES THE PLACE WHERE IT BELONGS AND STARTS BURNING OUTSIDE, ITS CALLED A HOSTILE FIRE WHAT ARE THE THREE THINGS A FIRE POLICY MUST COVER - Correct Answer- FIRE ITSELF, LIGHTNING, EXPLOSION OF NATURAL COAL OR MANUFACTURED GASES. WHAT ARE THE STATUTORY CONDITIONS - Correct Answer-THE 15 CONDITIONS IN THE INSURANCE ACT THE APPLY TO ALL FIRE POLICIES EVEN IF THERE ARE NOT WRITTEN ON THE POLICY, REQUIRED BY THE PROVINCIAL GOVERNEMENT. THE CONDITIONS CAN NOT BE AMENDED WHAT IS MISREPRESENTATION - Correct Answer-MISREPRESENTATION IS A STATUTORY CONDITION, IT MEANS MAKING THE INSURANCE COMPANY BELIEVE THAT THE RISK IS BETTER THAN IT ACTUALLY IS. IF A LOSS OCCURS THAT WAS DIRECTLY CAUSED BY THE MISREPRESENTATION THE INSURER HAS THE RIGHT TO VOID THE CONTRACT. OTHERS PROPERTY IN REGARDS TO STATUTORY CONDITIONS - Correct Answer-THE INSURER IS REQUIRED TO COVER THE DAMAGE TO ITS CLIENTS PROPERTY CHANGE IN INTEREST IN REGARDS TO STATUTORY CONDITIONS - Correct Answer-POLICY CAN CONTINUE IF THE OWNERSHIP CHANGED MIS TERM, NO CONSENT ON THE INSURER IS REQUIRED IF THE OWNERSHIP CHANGES DUE TO DEATH. HOWEVER IS THE POLICY IS SOLD, THE POLICY CAN CONTINUE WITH THE CONSENT OF THE INSURER. MATERIAL CHANGE IS REGARDS TO STAUTORU CONDITIONS - Correct Answer- MATERIAL CHANGE IS SOMETHING THAT GREATLY INCREASES THE CHANCES OF SOME RISKS WHEN CAN THE INSURER TERMINATE - Correct Answer-15 DAYS NOTICE BY REGISTERED MAIL OR 5 DAYS NOTICE IN WRITING IF PERSONALLY DELIVERED. REFUND IS CALCULATED ON A PRORARA NO CHARGING BASIS REQUIREMENTS AFTER LOSS - Correct Answer-TO GIVE FORTHWITH NOTICE OF LOSS TO THE INSURER IN WRITING, HAND OVER THE PROOF OF LOSS TO THE INSURER AS SOON AS POSSIBLE WHO MAY PROVIDE NOTICE AND PROOF OF LOSS - Correct Answer-WHEN THE INSURED IS ABSENT OR IS NOT ABLE TO GOVE NOTICE OF PROOF OF LOSS, OTHERS MAY DO IT ON HIS BEHALF. IS THE INUSERED IS NO INTERESTED IN MAKING A CLAIM, MORTGAGEES OR OTHER LOSS PAYABLES MAY MAKE A CLAIM.

WHAT IS SALVAGE - Correct Answer-IS THE REMAINS OF THE ASSETS AFTER THE OCCURRENCE ENTRY CONTROL AND ABANDONMENT IN REGARDS TO STATUTORY CONDITIONS - Correct Answer-IT IS THE RIGHT OF THE INSURER TO ENTER THE INUSRES PROPERTY AFTER THERE HAS BEEN DAMAGE. CONTROL OF DAMAGED PROPERTY WILL CONTINUE WITH THE INSURED. THE PROPERTY CAN NOT BE ABANDONED BY THE INSURED APPRAISAL IS - Correct Answer-IT IS ESTIMATE OF LOSS MADE BY AN EXPERT APPRAISER, APPRAISAL IS REQUIRED WHEN THERE IS A DISAGREEMENT BETWEEN INSURER AND THE INSURED AS TO THE AMOUNT OF LOSS. WHEN IS THE LOSS PAYABLE - Correct Answer-INSURER MUST PAY THE CLAIM TO THE INSURED WITHIN 60 DAYS OF PROOF OF LOSS BEING SUBMITTED BY THE INSURED REPLACEMENT IN REGARDS TO STATUTORY CONDITIONS - Correct Answer-IT IS THE OPTION OF THE INSURER TO PAY CLAIM AS THE SUM OF MONEY OR REPAIR OR REPLACE THE DAMAGED PROPERTY. IF THEY OPT TO REPAIR OR REPLACE COMMUNICATION TO THE INSURER IN WRITING WITHIN 30 DAYS HOW LONG AFTER THE DATE OF LOSS DOES THE INUSRED HAVE TO TAKE ACTION AGAIN THE AT FAULT PARTY - Correct Answer-ON YEAR WHO SHOULD THE INUSRED SEND THE PRROF OF LOSS TO - Correct Answer- THE INUSRED SHOUD SEND NOTICE TO THE HEAD OFFICE OF THE INUSRER AND THE INUSRER SHOULD SEND NOTICE TO THE LAST KNOW ADDRESS OF THE INUSRED WHAT ARE BROKERS AND AGENTS - Correct Answer-NOT A PARTY TO THE INUSRANCE OCNTRACT. THEY WORK AS A MIDDLE MAN BETWEEN THE INSURER AND THE INUSRED DUTUES OF THE BROKER/AGENT - Correct Answer-PROVIDE ALL IMPORTANT INFORMATION AND THE INUSRED TO THE INSURER, AND PROPERLY IDENTIFY CLIENTS LOSS EXPOSURE AND PROVIDE RIGHT ADVICE MORE THAN 50%OF ERROR AND OMISSION CLAIMS ARE DUE TO - Correct Answer-INADEQUATE COVERAGE UNDERWRITERS ARE EMPLOYED BY WHO? - Correct Answer-INSURER WHAT ARE UNDERWRITERS PRIMARY FUNCTION - Correct Answer-SELECT THE RISK THAT ARE MOST LIKELY TO BE PROFITABLE TO THE INUSER

UNDERWRITERS MAY REQUIRE THIS BEFORE DECIDING TO INSURE A RISK,

AND TO IDENTIFY HAZARDS IN A RISK - Correct Answer-INSPECTION WHO DOES THE INSPECTIONS FOR UNDERWRITERS - Correct Answer-IAO- INSURED ADVISORY ORGANIZATION HAZARDS CAUSE WHAT TO OCCUR - Correct Answer-FOR A PERIL TO OCCUR. WHAT ARE THE TWO TYPES OF HAZARDS - Correct Answer-PHYSICAL AND MORAL HAZARD WHAT IS A MORAL HAZARD - Correct Answer-THESE RELATE TO THE APPLICANT, EXAMPLE- POOR FINANCIAL CONDITION, INDIFFERENT ATTITUDE AND PROIR CLAIMS HISTORY WHAT IS A PHYSICAL HAZARD - Correct Answer-THOSE RELATE TO TE CONDITION OF THE PROPERTY, EXAMPLE CONSTRUCTION, LOOSE WIRING, SMOKING, MATERIAL FOR PROPERTY POLICIES, NAMED/SPECIFIED PERILS - Correct Answer- COVERAGE IS PNLY FOR THOSE PERILS WHICH ARE IDENTIFIED. THOSE PERILS WHICH ARE NOT SPECIFICALLY IDENTIFUED WILL NOTE BE COVERED ALL RISK BROAD FORM FOR PROPERTY POLICIES - Correct Answer-COVERAGE IS PROVIDED FOR ALL RISKS OF DIRECT PHYSICAL LOSS OR DAMAGE SUBJECTED TO THE POLICIES CONDITIONS AND EXCLUSIONS WHAT IS DIRECT PHYSICAL LOSS - Correct Answer-DAMAGE CAUSED DIRECTLY BY THE INSURED PERIL TO THE PROPERTY WHAT IS INDIRECT LOSS - Correct Answer-WHEN DAMAGE TO THE PROPERTY IS DUE TO INSURED PERILS, INCOME LOSS WILL BE AN INDRECT LOSS IN PROPERTY POLICIES WHAT PROPERTY IS EXCLUDED - Correct Answer-· AUTOMOBILES AND OTER MOTORIZED VEHICLES · WATERCRAFT · PROPERTY VACANT FOR MORE THAN 30 DAYS · MONEY AND SECURITIES · BOOK AND CCOUNTS · PETS IN PROPERTY POLICIES, WHICH PERILS ARE USUALLY EXCLUDED - Correct Answer-· WAR · FLOOD · NUCLEAR INCIDENT

· EARTHQUAKE

· RADIOACTIVE CONTAMINATION

· THEFT DURING EXHIBITION

· SEWER BACK UP

CONDITIONS IN A PROPERTY POLICY ARE - Correct Answer-IT IS A CLAUSE IN A APOLICY THAT REQUIRE THE INSURED TO DO OR NOT TO DO SOMETHING. A BREACH OF A CONDTION DOES NOT REDULT IN THE DENAIL OF A CLAIM AS LONG AD THE LOSS WAS NOT CAUSED DIRECTLY BY SUCH BREACK WARRANTIES ON PROPERTY POLICIES - Correct Answer-IT IS A PROMISE MADE BY THE INUSRED THAT CERTAIN FACTS ARE TRULY AS THEY ARE REPRESENTED AND WILLREMAIN SO FOR THE DURATION OF THE POLICY. THE INUSRED IS NOT ENTITLED TO A PAYMENT AFTER A LOSS IS A WARRENTY IS BREACHED WHAT IS THE DEDUCTIBLE - Correct Answer-THE AMOUNT INSURED IS REQUIRED TO ABSORD FOR EACH LOSS ALL PROPERTY INSURANCE POLICIES DESCROBE THE METHOD USED TO PAY CLAIMS. THE INUSRER WILL PAY THE LEASET OF THREE AMOUNTS IN THE EVENT OF A CLAIM - Correct Answer-· ACTUAL CASH VALUE (REPLACEMENT COST LESS DEPRECIATION) · INSUREDS INTEREST IN THE PROPERTY · POLICY LIMIT WHAT IS THE CHIEF OBJECTIVE OF REPLACEMENT COST INSURANCE - Correct Answer-IS THAT NO DEDUCTABLES ARE APPLIED FOR DEPRECIATION TO QUALIFY FOR SETTLEMENT ON A REPLACEMENT COST BASIS, THE INSURED MUST COMPLY WITH ALL OF THE FOLLOWING - Correct Answer-· REPLACEMENT SHALL BE EFFECTED BY THE INUSRED WITH DUE DILIGENCE AND DISPATCH · REPLAEMENT SHALL BE ON THE SAME SITE OR AN ADJACENT SITE · PAYMENT OF THE LOSS ON A REPLACEMENT COST BASIS SHALL BE PROVISED ONLY AFTER THE INUSURED HAS ACTUALLY REPAIRED OR REPLACED THE PROPERTY WHAT ARE MORTGAGEES - Correct Answer-ARE PEOPLE THAT HAVE INSURABLE INTEREST IN THE PROPERTY FOR EXAMPLE, CREDIT UNIONS, LEASING COMPANIES, BANKS, INDIVIDUALS WHAT IS A STANDARD MORTGAGE CLAUSE - Correct Answer-PROVIDES A GUARANTEE TO THE MORTGAGEE THAT EVEN IF THE INSURED BREACHED A CONDITION OR WARRANTY, THE MORTGAGEES INTEREST WILL STILL BE PROTECTED BY THE INSURER.

WHO IS DEEMED TO BE INUSRED ON A HOMEOWNERS POLICY - Correct Answer- · SPOUSE · THE INUSRED COMMON LAW SPOUSE WHO HAVE BEEN LIVING TOGETHER FOR OVER 5 YEARS · RELATIVES WHO ARE LIVING WITH THE INSURED · ANY PERSON UNDER 21 IN THEIR CARE ARE TENENATS COVERED UNDER A HOME INUSREANCE POLICY - Correct Answer-NO EXTENSIONS OF COVERAGE ON A HOME INSURANCE POLICY - Correct Answer-· PROPERTY REMOVAL- REMOVED TO ANOTHER LOCATION UP TO 30 DAYS TO PROTECT IT · MOVING TO ANOTHER HOME- PROPRTY IS INSURED IN TRANSIT WHEN MOVING YO A NEW HOMW WITHIN CANADA FOR30 DAYS · FREEZER FOOD($2000)- COVERAGE IS PROVIDED WHEN THERE IS AN ACCIDNETAL INTERRUPION OF ELECTRICAL POWER ON OR OFF THE INUSREDS PREMISES · CHANGE IN TEMPERATURE- WHEN A CHANGE IN TEMPERATURE HAPPENS INSIDE THE DWELLING AT THE TIME OF LOSS · LOCK REPLACEMENT- WHEN THE KEYS HAVE BEEN STOLEN AN REPORTED TO THE POLICE, 500 IS AVAILABLE FOR REPLACEMENT. WHAT ARE IN COVERAGE SECTION 1 IN HOME INSURANCE - Correct Answer-· COVERAGE A- DWELLING BUILDING- AMOUNT OF COVERAGE IS DETERMINED BY USING VALUATION GUIDE · COVERAGE B-DETACHED PRIVATE STRUCTIRES- 10% OF COVERAGE A- DWELLING BUILDING WHICH IS IN ADDITION TO THE AMOUNT OF INSURANCE STATED FOR COVERAGE A · COVERAGE C- 80-100% OF COVERAGE A- COTENTS OF THE BUILDING, PERSONAL PROPERTY WHICH IS TEMPERARLY REMOVED OFF PREMISE IS COVERED ANYWHERE IN THE WORLD · COVERAGE D- ADDITIONAL LIVING EXPENSES- 20%OF COVERAGE A- INCREASES THE COST OF EVERYTHING THAT DOES NOT SERVE TO RAISE THE STANDARD OF LIVING OF THE INSURED, LOSS OF RENTAL INCOME IS COVERED. WHAT ARE THE SPECIAL LIMITS ON PERSONAL PROPERTY FOR HOME INURANCE POLICIES. - Correct Answer-· BUSINESS PROPERTY (2000) · SECURITIES (2000) · MONEY AND BULLION (200) · RIDING LAWN MOWER (5000) · COMPUTER SOFTWARE (2500) · THEFT LOSSES JEWELRY, GEN, WATCHES, FUR GARMETS (2000)

IN HOMEOWNERS BASIC COVERAGE (IBC 1151) WHAT SMOKE DAMAGE IS AND

IS NOT COVERED - Correct Answer-SMOKE DAMAGE FROM FIREPLACE IS NOT COVERED, ONLY SMOKE FROM SUDDEN, UNUSUAL AND FAULTY OPERATION OF HEATING AND COOKING UNITS ON THE PREMISES IN INSURED. IS DAMAGE BY VEHICLE IMPACT COVERED UNDER HOMEOWNERS BASIC COVERAGE (IBC 1151) - Correct Answer-NO VEHICLES IMPACT CAUSED TO THE PROPERTY WHEN OPERATED BY CLIENT OR CLIENTS EMPLOYESS IS COVERED UNDER HOMEOWNERS BASIC COVERAGE (IBC1151) IS DAMAGE DUE TO VANDALISM OR MALICIOUS ACTS COVERED UNDER HOMEOWNERS BASIC COVERAGE (ICB 1151) - Correct Answer-· YES DAMAGE DUE TO VANDALISM AND MACHIVOUS ACTS IS COBERED UNDER THIS FORM WHEN IS WATER DAMAGE COVERED UNDER HOME OWNERS BASIC COVERAGE (IBC 1151) - Correct Answer-· WHEN THE CLIENT HAD DAMAGE DUE TO FREEXING WHEN THEY'VE BEEN AWAY FROM THE DWELLING FOR MORE THAN 4 DAYS , ITS NOT COVERED, BUT IS THEY COME BACK BEFORE THEN, HAVE SOMEONE CHECK ON THE HOUSE, OR SHUT THE WATER MAIN OFF DAMAGE DUE TO THE FOLLOWING PERILS ARE EXCLUDED UNDER HOMEOWNERS BASIC COVERAGE (IBC 1151) (4) INVOLVE WATER - Correct Answer-· SEEPAGE OR LEAKAGE · SEWER BACK UP · SURFACE WATER · GROUD WATER WHEN IS DAMAGE TO THE DWELLING COVERED DURING A WIND/RAIN STORM UNDER HOME OWNERS BASIC COVERAGE (IBC 1151) - Correct Answer-WHEN THERE IS OPENING CREATED BY THE STORM THAT ENDS UP DAMAGING THE INSUDE OF THE HOUSE, THEN IT IS COVERED UNDER HOMEOWNERS BASIC COVERAGE. WHAT TYPE OF GLASS DAMAGE IS COVERED UNDER HOMEOWNERS BASIC COVERAGE (IBC 1151) - Correct Answer-WHEN GLASS IS FORMING APART OF THE BUILDING IT IS COVERED, THERE IS NO COVERAGE FOR GLASS FORMING PART OF PERSONAL PROPERTY (GLASSES, DISHES ETC) WHAT IS COVERED AND WHAT IS NOT COVERED UNDER HOMEOWNERS COMPREHENSIVE COVERAGE (IBC 1155) - Correct Answer-· PROPERTY IS INSURED ON AN ALL RISK BASIS · SMOKE DAMAGE FROM FIE PLACE IS COVERED · COLLAPSE FROM SNOW LOAD IS COVERED · DAMAGE TO THE BULDING FROM BIRDS, INSECTS OR ANIMALS IS NOT COVERED

WHAT IS AND WHAT IS NOT COVERED UNDER THE EMERGENCY REMOVAL

EXPENSES OF MOBILE - Correct Answer-· 5% OF INSURANCE ON MOBILE HOMES IS USED FOR REMOVAL EXPENSES LIKE TOWINIG AND DISCONNECTING UTILITIES, WHOEVER THERE IS NO COVERED IF THE DWELLING IS DAMAGED WHILE BEING MOVED WHAT IS COVERED UNDER CONDOMINIUM INSURANCE - Correct Answer-· PEROSONAL PROPERTY · IMPROVEMENT AND BETTERMENTS · LOSS ASSESSMENT WHAT IS A LOSS ASSESSMENT WITH CONCOMINIUM INSURANCE - Correct Answer-IT PAYS ALL EXPENSES OF THE INUSRED WHICH WERE ORIGINALLY SUFFERED BY THE CORPORTION. FOR EXAMPLE WHEN THEN CONDO CORPORATION CARRIES A LARGE DEDUCTABLEON ITS POLICY OR COLLECTIVELY OWNED PROPERTY IS DAMAGED AND THE CORPORATION DOES NOT HAVE SUFFICIENT INSURANCE, LOSS ASSESMENT WILL STEP IN. WHAT ARE THE TWO TYPES OF COMMERCIAL POLICIES - Correct Answer-· NAMED/SPECIFIED PERILS POLICY · ALL RISKS/BROAD FORM- IT INSURED ALL RISKS OF DIRECT PHYSICAL LOSS OR DAMAGE SUBJECTED TO THE POLICY CONDITIONS AND EXCLUSIONS WHAT ARE THE MAIN ADVANTAGES OF BROAD FORM FOR COMMERCIAL POLICIES - Correct Answer-· DAMAGE DUE TO IMPACT OF VEHICLE DRIVEN BY INUSRED OR EMPLOYEE IS COVERED · ALL TYPES OF SMOKED DAMAGE IS COVERED EXCEPT SMOKE FROM AGICULTURAL SMUDGING OR INDUSTRIAL OPERATIONS · WATER DAMAGE RESULTING FROM RUPTURED OR FREEXING WATER PIPES IS COVERED WHAT IS FACTORED INTO DETERMINE THE PREMIUM ON COMMERCIAL POLICIES - Correct Answer-· CONSTRUCTION · PROTECTION (PUBLIC AND PRIVATE) · OCCUPANCY · CLAIMS HISTORY WHAT DOES IT MEAN WHEN YOU LOAD COVERAGE - Correct Answer-· AN ADDITIONAL RATE OR PREMIUM CHARGED BY THE INUSRER TO ADD MORE PERILS INSURED UNDER COMMERCIAL PROPERTY INSURANCE WHAT ARE THE THREE THINGS COVERED UNDER A STANDARD COMMERCIAL PROPERTY CLAUSE - Correct Answer-· BUILDING · STOCK · EQUIPTMENT.

UNDER THE STANDARD COMMERCIAL PROPERTY CLAUSE WHAT IS COVERED

UNDER BUILDING - Correct Answer-· THE BUILDING ITS SELF · BUILDING MATERIALS THAT ARE ON THE PROMISE FOR MAINTENANCE OR REPAIRS · GROWING TREES/SHRUBS/PLANTS AND FLOWERS MEANT FOR DECORATION UNDER THE STANDARD COMMERCIAL PROPERTY CLAUSE WHAT IS COVERED UNDER STOCK - Correct Answer-· THE STOCK ITS SELF- SOMETHING THAT FLUCTATES ON A ADAILY BASES · ADVERTISING MATERIALS · PACKING AND WRAPPING MATERIALS · SIMILAR PROPERTY OF OTHERS FOR WHICH THE INSURED IS LEGALLY. UNDER THE STANDARD COMMERCIAL PROPERTY CLAUSE WHAT IS COVERED UNDER EQUIPMENT - Correct Answer-· ANYTHING USUAL OT THE CLIENTS BUSINESS WHICH IS NOT COVERED IN THE DEFINITION OF THEBUILDING AND STOCK · ANY TENANT IMPROVEMENT AND BETTERMENTS MADE BY THE INUSRED TO THE BUIDLING WHEN THE INSURES IS NOT THE OWNER OD THE BUILDING WHAT IS A REINSTATMENT CLAUSE - Correct Answer-· AFTER A LOSS HAS BEEN PAID, THE AMOUNT OF INUSRNACE STATED ON THE POLICY DOES NOT CHANGE NOR DOES THE INSURED HAVE TO PAY AN ADDITIONAL PREMIUM. WHAT IS THE PURPOSE OF CO INSURANCE - Correct Answer-· IT LIMITS THE CAIM PAYMENT AFTER A PARTION LOSS WHEN THE INURER FINDS THAT THE INUSRED HAS DELIBERATELY UNDERINSURED THE VALUES WHEN IS CO INSURANCE APPLICABLE - Correct Answer-· CO INUSRANCE IS ONLY APPLICABLE ON PARTIAL LOSSES. IF THE INSURED BUYS LESS INSURANCE THAN 80% HE/SHE MAY BE PAID A CLAIM LESS THAN THE AMOUNT OF DAMAGE AS PER THE CO INSURANCE CLAUSE FORMULA WHAT IS THE CO INSURANCE CLAUSE FORMULA - Correct Answer-· CLAIM = (DID/SHOULD) x LOSS · SHOULD (80Xacv) WHAT ARE THE RESPONSABILITIES OF THE INSURED WITH LOCK VEHICLE WARRANTY - Correct Answer-· THE INSURED PROPERTY MUST BE STORED IN A METAL COMPARTMENT · VEHICLE SHOULD BE LOCKED WHEN THE INUSRED IS AWAR FROM IT · CLAIM WILL BE PAID ONLY IF THE INUSRED IS ABLE TO SHOW THAT FORCE WAS USED TO GAIN AN ACCESS TO THE VEHICLE

TEMPORARY LOCATION WITH COMMERCIAL POLICIES - Correct Answer-· A LOCATION WHICH IS NOT OWNED RENTED OR CONTROLLED BY THE INSURED IN WHOLE OR IN PART IS TEMPORARY LOCATION OF THE PORPERTY VALUABLE PAPERS AND RECORD INSURANCE - Correct Answer-· THE CLAIM IS PAYABLE FOR THE BLANK VALUE OF PAPER AND THE COST TO TRANSCRIBE WHAT IS COVERED UNDER BUILDERS RISK INSURANCE - Correct Answer-· IT COVERS ALL MATERIALS WHICH ARE GOING TO BECOME ONE WITH THE FINAL STRUCTURE · COVERAGE LIMI PURCHASE MUST BE NO LESS THAN 100% OF THE COMPLEETD VALUE OF THE PROJECT · COVERAGE AUTOMATICALLY ENDS WHEN THE BUILDING IS OCCUPIED OR IF THERE HAS BEEN NO WORK CONDUCTED FOR MORE THAT 30 DAYS · TOOLS EQUIPMENT ARE NOT COVERED UNDER THIS FORM WHAT IS COVERED UNDER INSTALLATION FLOATER - Correct Answer-· IT INSURES THE INSTALLER PROPERTY WHILE IS TRANSIT, WHILE STORED AT THE JOB SITE, AND ON AND AFTER THE INSTALLATION TILL THE WOR IS HANDED OVER TO THE OWNER WHAT IS COVERED UNDER GLASS INSURANCE - Correct Answer-· IT INSURES GLASS FORMING PART OF THE BUILDING FROM ALL PERILS EXCLUDING o FIRE o WAR o NUCLEAR HAZARDS WHAT IS THEBROADEST TYPE OF CRIME INSURANCE - Correct Answer-THEFT INSURANCE WHAT IS COVERED UNDER MONEY AND SECURITIES BROAD FORM - Correct Answer-· ACTUAL DESTRUCTION · DISAPEARANCE · WORNGFUL ABSTRACTION WHAT IS COVERED UNDER BURGLARY INSURANCE - Correct Answer-· UNLAWFUL TAKING OF PROPERTY WHEN BUSINEDD IS CLOSED · UNLAWFUL ENTERING THE EXISTING THE INSURED PERMISES · CLAIM IS PAYABLE ONLU IF THE CLIENT IS ABLE TO SHOW VISIBLE SIGNS OF FORCE WHAT IS COVERED UNDER SAFE BURGLARY INSURANCE - Correct Answer-· THE CONTENTS STORED IN SAFE · IS THE SAFE IS REMOVED FROM THE INUSRED PREMISES, IT IS ALSO COVERED. · SAFE SHOULD BE EQUIPPED WITH THE COMBINATION LOCKS

WHAT IS COVERED UNDER ROBBERY INSURANCE - Correct Answer-· UNLAWFUL TAKING OF PROPERTY FROM A SUCTODIAN WHO HAS BEEN RENDERED UNCONSCIOUS OR KILLED · ACTUAL OR THREATENED VIOLENCE WITH CUSTODIAN WHAT ARE THE TWO TYPES OF BUSINESS INTERRUPTION INSURANCE - Correct Answer-· GROSS EARNING FORMS · PROFITS FORM WHAT IS THE DIFFERENCE BETWEEN GROSS EARNINGS FORM AND PROFIT FORM - Correct Answer-· GROSS EARNINGS FORM- PAYMENT UNDER THIS FORM STARTS ON THE DATE OF THE LOSS AND CONTNIES UNTIL THE PROPERTY HAS BEEN REINSTATES HOWEVER NOT EXCEEDING 12 MONTHS · PROFIT FORM- PAYMENT UNDER THIS FRM STARTS ON THE DATE OF THE LOSS AND CONTINUES UNTIL THE INCOME IS RESTORED TO THE LEVEL THAT WOULD HAVE RESULTED HAD THE LOSS NOT OCCURRED WHAT IS EXTRA EXPENSE INSURANCE FOR - Correct Answer-· FOR BUSIENSS THAT NEED TO RESTART RIGHT AWAY, LIKE LAWYERS OFFICES AND DOCTORS OFFICES WHAT IS CIVIL LAW - Correct Answer-· SETTLES DISAGREEMENT BETWEEN INDIVIDUALS THAT DOES NOT INVOLVE A CRIMINAL ACT. IT PROVIDES CONPENSATION FOR A WRONG DONE BY ANOTHER WHAT IS A PLAINTIFF - Correct Answer-· A PERSON WHO FILES LEGAL ACTION AGAINST DEFENDANT WHAT ARE THE TWO BRANCHES OF CIVIL LAE - Correct Answer-· CONTRACT LAW · TORT LAW WHAT ARE THE THREE TYPES OF TORTS - Correct Answer-· INTENTIONAL- CRIMINAL ACTS · UNINTENTIONAL- NEGLIGENCE · STRICT LIABILITY- DEFENDANT IS PROSUMED TO BE GUILTY UNTIL PROVEN INNOCENT. PEOPLE CAN BE FOUND LIABLE FOR A TORT UNDER WHICH LAWS (2) - Correct Answer-· COMMON LAW · STATUTE LAW PEOPLE WHO OCCUPY A PREMISE OWE LEGAL DUTIES TO OTHER, WHAT DO OWERS A PROPERTY OWE TO TRESPASSERS - Correct Answer-· OCCUPIERS DO NOT OWE AN LEGAL DUTY, BUT CAN NOT INTENTIONALLY HARM THEM

PEOPLE WHO OCCUPY A PREMISE OWE LEGAL DUTIES TO OTHER, WHAT DO

OWERS A PROPERTY OWE TO LISENSEES - Correct Answer-· OCCUPIERS MUST POINT OUT DANGERS THAT ARE KNOWN TO BE DANGEROUS PEOPLE WHO OCCUPY A PREMISE OWE LEGAL DUTIES TO OTHER, WHAT DO OWERS A PROPERTY OWE TO INVITEES - Correct Answer-· OCCUPIERS MUST PROTECT THE INVITEE FROM ANY DANGERS THE OCCUPIER IS AWARE OF OR SHOULD HAVE BEEN AWARE OF PEOPLE WHO OCCUPY A PREMISE OWE LEGAL DUTIES TO OTHER, WHAT DO OWERS A PROPERTY OWE TO CHILDREN - Correct Answer-· OCCUPIERS MUST KEEP CHILDREN SAFE FROM ALL DANGERS INDEPENDENT CONTRACTORS ARE ALWAYS RSPONSIBLE FOR THEIR OWN TORTS, UNLESS - Correct Answer-· PRINCIPLE CONTROLS INDEPENDENT CONTRACTRORS WORK · GIVEN WORK IS DANGEROUS · PRINCIPLE PROVIDES TOOLS WHICH CAUSED INJURY WHO IS A BAILEES FOR HIRE - Correct Answer-· SOMEONE WHO HAS TEMPORARY CUSTODU OF A CUSTOMERS PERSONAL PROPERTY FOR THE PURPOSE OF REPAIR, STORAGE, CLEANING. WHAT KINF OF LEVEL OF CARE SHOULD A BAILEE OF HIRE EXERCISE - Correct Answer-· ODINARY LEVEL OF CARE WHEN ARE EMPLOYERS NOT RESPONSIBLE FOR THE TORTS OF EMPLOYEES DURING JOB - Correct Answer-· WHEN INJURIES OR DAMAGES ARE CAUSED BY EMPLOYEES WHO ARE ON A FROLIC OF THEIR OWN · WHEN THEY DELIGATE WORK TO DESIGNATED TO OTHERS AND INJURY OR DAMAGE RESULTS · WHEN AN EMPLOYE USES PROPERTY WITHOUT AUTHORITY FOR THEIR OWN PURPOSE WHAT IS WITH CHILDRENS TORTS - Correct Answer-· CHILDREN ARE LIABLE FOR THERE OWN TORTS, HOWEVER THERE PARENT ARE FINANCIALLY RESPONSIBLE FOR INJURY OR DAMAGE CAUSED BY THEIR CHILDREN WHEN THEY ARENT SUPERVISED, PARENT HAVE GIVEN THEM SOMETHING DANGEROUS, CHILD IS ASSITING IN PARNETS BUSINESS, CHILD IS ACTING ON PARENTS INSTRUCTION S WHO HAVE THE POWER TO IMPOSE LEGAL LIABILITY - Correct Answer-· THE COURTS

WHAT IS AN OCCURNECE IN REGARDS TO LIABALITY INSURANCE - Correct Answer-· IT MEANS ACCIDENTAL INCLUDING THE CONTINUOUS OR REPEATED EXPOSURE TO SUBSTANTIALLY THE SAME GENERAL HARMFUL CONDITIONS WHAT IS BODILY INJURY - Correct Answer-· PHYSICAL INJURY TO THE BODY, DEATH RESULTING FROM THESE PHYSICAL INJURIES, DIDEASE OR SICKNESS RESULTING FROM THESE PHYSICAL INJURES WHAT DOES PROPERTY DAMAGE INCLUDE - Correct Answer-· IT INCLUDES DAMAGE TO THE PHYSICAL PROPERTY SUCH AS BUILDING, CAR, ETC WHAT DOES LIABILITY COVERAGE NOT COVER - Correct Answer-PUNITIVE, NOMINAL AND EXEMPLARY DAMAGES, THEY ONLU COVER COMPENSATORY DAMAGE LIABALITY POLICIES ALSO PAY SUPPLIMENTARY PAYMENTS, WHAT IS INCKUDED UNDER THAT - Correct Answer-· COURT COST, DEFENSE COST, INVESTIGATION EXPENSE, LOSS OF INTEREST TO THE PLAINTIFF WHEN DEFENDANT PREPERS TO APPEAL THE COURT DECISION WHAT IS THE PURPOSE OF AN UNBRELLA POLICY - Correct Answer-· TO BROADEN COVERAGE AND TO INCREASE THE LIMIT WHAT DO YOU NEED TO HAVE TO BE ELIGIBLE FOR AN UMBERALLA POLICY - Correct Answer-· AN ALREADY EXISTING POLICY WHEN WILL THE UMBRELLA POLICY PAY - Correct Answer-· WHEN THE INSURED PRIMARY POLICY DOESN'T HOLD ENOUGH INSURANCE, THE UNBRELLA POLICY WILL PAY THE EXCESS, OR WHENT THE PRMARY POLICY DOESN'T COVER THAT PERIL. WHAT ARE THE FOUR COVERAGE IN SECTION 2 OF THE HOMEOWNERS POLICY - Correct Answer-· COVERAGE E- PERSONAL LIABLITY · COVERAGE F- VOLUNTARY MEDIAL PAYMENTS · COVERAGE G- VOLUNTARY PAYMENT FOR DAMAGE PROPERTY · COVERAGE H- VOLUNTARY COMPENDATION FOR REDIDENCE EMPLOYEES WHAT DOES COVERAGE E INSURE - Correct Answer-IT INSURES THE INUSRED ANYWHERE IN THE WORLD WHILE ACTING AS A PRIVATE CITIZEN. EMPLOYEES ARE COVERED, BUT PEOPLE IN THE HOUSE ARE NOT WHAT DOES COVERAGE F INSURE - Correct Answer-· NO NEED TO SHOW THAT THE CLIENT WAS LEGALLY LIABLE, MAXIMUM PAID TO THE INSUERE IN 1000 AND MAXIMUM FOR ONE YEAR AND WITHIN CANADA

WHAT DOES COVERAGE G INSURE - Correct Answer-ONLY DAMAGE TO PROPERTY BY UNINTENTIONAL ACTS IS COVERED, BUT IT COVERS INTENTIONALS ACTS OF CHILDREN AGED 12 AND UNDER WHAT DOES COVERAGE H INSURE - Correct Answer-PRODIVES MINIMAL BENEFITS TO COVER INJURIES TO TEMPRARY RESIDENCE EMPLOYEES UNDERCOVERAGE H WHEN DO THEY COVER GOLD CARTS - Correct Answer- WHEN THEY ARE USED ON THE GOLD COURSE WHAT ARE THE THREE COMMON BUSINESS EXPOSURES - Correct Answer-· PREMISES LIABILITY CLAIM- INJURY DUE TO CONDITIONS OF PREMISE · PRODUCT LIABILITY CLAIM- INJURY CAUSED BY PRODUCTS SOLD · LIABILITY ARISING FROM PERSONAL INJURY- INJURY RESULTING FROM LIBEL OR SLANDER WHAT IS LIBEL INFO - Correct Answer-· WRITTEN INFORMATION WHAT IS SLANDER INFORMATION - Correct Answer-SPOKEN WHAT ARE THE TWO SPECIALIZED BUSINESS EXPOSURES - Correct Answer-· MALPRACTICE INSURANCE- FOR HEALTH CARE PROVIDERS · ERRORS AND OMISSIONS- BUSINESS PROVIDING ADVICE AND COUNSELLING PREMIUM RATING FOR TRAVEL INSURANCE IS WEIGHED BY - Correct Answer-· BY AGE, HEALTH, LENGH OF TRIP, DESTINATION, COVERAGE AMOUNT HOW IS BODILY INJURY AND PROPERTY DAMAGE SPLIT ACCORDING TO THE PRIORITY OF PAYMENT RULE - Correct Answer-· BODILY INJURY IS 90% · PROPERTY DAMAGE IS 10% WHEN ARE ACCIDENT BENEFITS PROVIDED - Correct Answer-· ON A NO FAULT BASIS WHO IS ELIGEBLE FOR ACCIDENT BENEFITS - Correct Answer-· INSURED · INSURED SPOUSE · OTHER OCCUPANTS OF THE VEHICLE · CYCLISTS OR PEDESTRIANS HIT IN CANADA ONLY WHEN AN INSURED IS KILLED WHAT IS THE SURVIVING SPOUSE INTITLED TOO

• Correct Answer-· THE SURVIVING SPOUSE AND DEPENDANT GET AN INITIAL LUMP SUM AMOUNT AND WEEKLY PAYMENTS OF UP TO 104 WEEKS WAGE LOSS BENEFITS, HOW DOES IT WORK WITH GROUP ACCIDENT OF SICKNESS POLICIES - Correct Answer-· IF THEY REDUCED THE AMOUNT OF THE MONEY THEN IT IS REDUCED FROM ICBC TOTAL, THE CLIENT WILL NEVER

PROFIT FROM HAVING MORE THAN ONE INSURANCE COMPANY PROVIDING

THEM WITH COVERAGE, THE INSURANCE COMPANIES ALL WORK TOGETHER

TO PROVIDE SUFFICIENT COVERAGE

HOW DO YOU BECOME ELIGIBLE FOR WAGE LOSS BENEFITS - Correct Answer-· TO BE ELIGIBLE FOR BENEFITS, INSURED MUST BE ABLE TO SHOW THAT THEY WERE EMPLOYED AT THE TIME OF THE ACCIDENT OR HAD WORKED FOR AT LEAST 6 OF THE 12 MONTH PRIOR TO THE ACCIDENT. HOW DO PAYMENT WORK WITH THE WAGE LOSS BENEFITS - Correct Answer-· PAYMENTS START ON THE 8TH DAY OF THE ACCIDENT AND CONTINUE TO THE DURATION OF THE DISABILITY OR WHEN THE PERSON REACHES THE AGE OF 65, WHICHEVER COMES FIRST WHEN IS THE WAGE LOSS POLICY PAYABLE - Correct Answer-· WHEN THE INSURED IS COMPLETELY DISABLED WHAT IS THE UNDERINSURED MOTORIST PROTECTION - Correct Answer-· WHEN AN AT FAULT DRIVER DOES NOT HAVE ENOUGH INSURANCE FOR THE BODILY INSURY OF DEATH CLAIM. THE BASIC AUTO PLAN WILL COVER TO A MAX OF 1MILLION PER PERSON HOW ARE YOU COVERED UNDER YOUR BASIC AUTOPLAN COVERAGE FOR HIT AND RUNS - Correct Answer-· YOU PAY THE FIRST $750 AND ICBC WILL PAY THE REST, OR THE DEDUCTABLE THAT WAS CHOSEN UNDER OWN DAMAGE WHAT DOES INVERSE LIABILITY COVER - Correct Answer-· IT COVERS THE INSURE THOUGHOUT CANADA AND THE US BUT NOT BEYOND THE BORDER OF MEXICO WHAT IS THE ROAD STAR PACKAGE (5) - Correct Answer-· PEOPLE NEEDS TO HAVE THE HIGHEST LEVEL OF DISCOUNT, IT INCLUDES · ROAD STAR RENTAL VEHICLE COVERAGE- FOR A RENTAL NOT EXCEEDING 30 DAYS · ROAD STAR LOSSS OF USE COVERAGE- PAYS FOR RENTAL VEHICLE COSTS WHILE YOURE IS BEING REPAIRED · ROAD STAR VEHICLE TRAVEL PROTECTION- COVERS ADDITIONAL EXPENSES FOR WHEN YOUR VEHICLE IS DAMAGED WHILE ON A TRIP · AND ROAD STAR LOCK AND REKEYING- WHAT KIND OF COLLISION IS NOT COVERED UNDER THE COLLISION COVERAGES - Correct Answer-· COLLISION WITH AN ANIMAL WHAT DOES COMPRESENSIVE INSURANCE COVER - Correct Answer-· INSURES ALL LOSSES OTHER THAN COLLISION OR UPSET, INCLUDES COLLISION WITH AN ANIMAL LIVING OR DEAD

FACTORS AFFECTING PREMIUMS (5) - Correct Answer-· MODEL MAKE AND YEAR OF THE VEHICLE · USE OF VEHICLE · TERRITORY IN WHICH THE VEHICLE IS USED IN · CALIMS HISTORY · AMOUNT OF DEDUCTABLES THEFT OF A DEHICLE MUST BE REPORTED TO THE POLICY IN THE FIRST - Correct Answer-48 HOURS WHEN IS THE EXCESS SPECIAL EQUIPMENT ENDORSMENT REQUIRED - Correct Answer-· WHEN EQUIPMENT HAS BEEN INSTALLED INTO THE VEHICLE BY A PRIVATE SOURCE. WHAT IS INSURED UNDER THE SPECIAL EQUIPMENT ENDORSEMENT - Correct Answer-· SOUND RELATED EQUIPMENT (1000) · CUSTOME PAINT (5000) · PERMANENTLY ATTACHED EQUIPMENT (SPECIAL WHEEL, TIRED ETC) (5000) WHAT IS A BINDER FOR OWNERS INTERIM CERTIFICATE OF INSURANCE USED FOR - Correct Answer-· WHEN A BC RESIDENT PURCHASES A VEHICLE OUT OF OF THE PROVINCE OR IN ANOTHER COUNTRY, WHO WISHES TO BRING IT BACK TO BC FOR LICENSING, ITS IDDUES FOR A MAX OF 31 DAYS WHAT IS INSURED UNDER UNLICENSED VEHICLE POLICY - Correct Answer-· UNLICENSED VEHICLE IN STORAGE · UNLICENSED MOTOR CYCLE WITH AN ENGINE CAPASITY OF 110CC OR LESS USED BY AN UNDERAGED OPERATOR WHAT ARE THE THREE FUNCTIONS OF INSURANCE COUNSIL OF BRITISH COLUMBIA - Correct Answer-· LICENSING · HANDLING COMPLAINTS · DISCIPLINING OF BROKERS