October Compliance Quiz

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October Compliance Quiz

Test your knowledge about compliance regulations and coverage specifics in the insurance industry with our October Compliance Quiz. This quiz is designed to assess your understanding of various rules, regulations, and best practices necessary for navigating insurance challenges.

11 Engaging Questions
Multiple Choice and Checkbox Formats
Instant Feedback on Your Answers

11 Questions3 MinutesCreated by ReviewingPolicy123

What is under OPCF 27 for coverage for Grand Touring on a rental vehicle? Select all that apply.

Up to $100,000 with a $300 deductible

Up to $50,000

Minimum $100,000 with a $300 deductible

Which is a decline rule for Home insurance in Ontario? Select all that apply.

Hobby farms

Tenants policy containing more than 3 dwelling units

Location with 2 mortgagees or more

Primary residences insured for less than 80% of their replacement cost

Which of the following would be reasons to terminate an auto policy? Select all that apply.

No valid payment within 30 days

Used outside of Canada for more than 4 months

Garaged at a different address and used by an employee

Customized, modified or altered exceeding $5,000

Which of the following is a strike for Authentication? Select all that apply.

"I don't know" response

Client states one answer then immediately changes to another answer

November given as renewal month instead of correct month October

What do you do when a phone number opens multiple accounts?

Use Category B once clarifying which account the client is referring to

This is considered not a match and you must do Category A and B questions.

Ask them for another phone number that will only open one account

Which of the following are correct in regards to Client Assessment (CA)? Select all that apply.

Existing CA must be reordered every 3 years any time you access the file regardless of any transaction or contact with the client

CA must be dated 12 months or less when completing a quote for a residential opportunity.

Existing CA must be pulled every 3 years even if there is no residential policy active.

If consent was previous refused you must offer to read it to the client.

Which of the following is correct in regards to a "No hit" score on CA? Select all that apply.

Ensure that there is at least 2 years of previous address history.

Ensure that customer's social title, first and last name are correct.

If customer requests to be called Doctor, you must add Dr. To the first name field.

If the client is doing an interprovincial transfer you must send a request by email to ACTMAIL to obtain CA.

Which of the following is correct in regards to Consent? Select all that apply.

If an existing residential customer calls in for a auto quote you do not have to obtain any consent.

If a former customer calls and they have no active policy even if consent was previously obtained within the last 12 months you must obtain consent.

If an existing residential customer calls for an auto quote you must obtain consent without CA but do not update the consent drop down.

If an existing automobile client calls for a quote for a Motorcycle consent must be obtained without CA.

October Compliance Quiz

October Compliance Quiz

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