Insurance Knowledge Quiz
Insurance Knowledge Quiz
Test your understanding of essential insurance concepts with this comprehensive quiz! Whether you're a student, a professional, or just curious about insurance policies, this quiz is designed to challenge your knowledge and help you learn.
Topics covered include:
- Coverage types and definitions
- Liability and comprehensive coverage
- Automotive insurance policies
- Roadside assistance packages
What is the best way to score high on this Quiz?
A. Trust you memory
B. Use Google to find answers
C. Random guesses
D. Use KA
2. NI calls and wants to reduce liability coverage on their auto policy. What will you do?
A. Provide the quote and process the change for them
B. Provide the quote and transfer them to licensed ISP.
C. Refer them to AOR
D. Liability can’t be reduced
3. NI asks what is rental reimbursement?
A. Coverage that provides cost of rental car when NI’s vehicle is going through regular maintenance service
B. Insurance coverage on a rental car
C. Coverage that covers cost of rental car when NI’s vehicle is involved in covered claim.
D. Cost to cover rental car when NI is travelling.
4. NI calls to have comprehensive coverage added to their vehicle. What are some of the important questions that need to be asked?
A. Verify no losses, effective date of change
B. Effective date of change
C. Only verify no losses
D. Transfer to Licensed
5. NI calls states if they have a certain coverage. On asking if there is a loss NI says yes, NI also says they have not filled for claim yet. What should You do? (hint KN5826)
A. Explain coverages and transfer to claims
B. Inform the insured they should file a claim to identify if specific coverage is available
C. Explain coverage and transfer to adjuster.
6. What is a difference between Basic and Plus package in Road Side Assistance when it comes to towing?
A. Towing (Basic-up to 10 miles, Plus – up to 50 miles)
B. Towing (Basic-up to 15 miles, Plus – unlimited miles)
C. Towing (Basic-up to 15 miles, Plus – up to 100 miles)
D. Towing (Basic-up to 50 miles, Plus – up to 200 miles)
7. In order to have OEM coverage, we need to have both comprehensive and collision coverage?
A. true
B. false
8. What does Gap coverage do?
A. Pays difference between the outstanding balance on a new vehicle’s loan/lease and the actual cash value of the vehicle that has been declared as total loss.
B. Pays difference between the purchase price of a new vehicle and the actual cash value of the vehicle that has been declared as total loss.
9. Bodily Injury liability coverage, provide coverage for
A. Bodily injury to Named insured
B. Bodily injury to other party where NI is responsible for accident
C. Bodily injury to NI’s Son, who is sitting on the passenger seat.
D. None of the above
10. Ni calls to add UMBI coverage, what are some important questions to ask
A. We can add the coverage without asking anything
B. Effective date of change only
C. Verify No losses and confirm effective of change.,
Transfer to licensed /complex rep
11. OEM coverage also applies to Glass.
A. True
B. False
12. NI calls and says his windshield was damaged in hail and wants to know if there would be coverage for that. You review policy and notice they have “Full coverage safety glass”. What would you do?
A. Explain the coverage they have and transfer to Safelite
B. Transfer to Safelite without discussing the coverage.
C. Refer them to their Agent
13. What does total loss deductible waiver do?
A. Pays comp/coll deductible for vehicle declared as total loss
B. Pays comp/coll deductible for all “not at fault claims”
C. Pays comp/coll deductible for all claims
14. If NI’s a friend, who is not part of HH wants to borrow your car for a day, would they need to be added to policy as driver?
A. Yes, add them as rated driver as this will ensure they are covered and remove them once they return the car
B. Yes, add them as non-driver on the policy
C. No need to add them since they can be classified as permissive user.
15. NI calls and says he is borrowing his friends’ car for a day and wants to know how he is covered with Nationwide?
A. He has no coverage with NW, since vehicle already has coverage through friend’s insurance carrier
B. He would need to buy additional coverage with friend’s insurance carrier
C. Ni’s Nationwide policy will act as a primary and friend’s policy will provide coverage on excess basis
D. Car owner’s policy acts as primary and Nationwide policy would provide coverage on excess basis.
16. NI has an option to choose different amounts for medical payments coverage for different vehicles?
A. True
B. False
17. Limits for Medical pay are based off
A. Per accident
B. Per person
C. Per household
18. A comprehensive only vehicle does not count towards the Multi-car discount
A. True
B. False
19. While trying to reduce NI’s premium, NI says they would want to remove uninsured motorist covered coverages. What will you do?
A. Refer them to AOR
B. Process the change as asked
C. Uninsured motorist can’t be removed
D. Provide quote and transfer to Licensed ISA
20. Agent calls to reduce liability coverage (bodily injury), what would you do
A. Provide quote and transfer to licensed
B. Process the change as asked
C. We would need NI’s permission before we can do that
D. Transfer the call to licensed
21. What is the Automatic coverage extension for newly acquired vehicle for a policy with liability coverage on its vehicles?
A. 7 days of automatic liability coverage extension
B. 30 days of automatic physical damage coverage extension
C. 7 days of automatic physical damage coverage/30 days automatic liability coverage
D. Coverage starts from the day vehicle is added
22. For CA Collision deductible buyback must be offered on any vehicle carrying collision?
A. True
B. False
23. NI calls to remove Collision Coverage on their vehicle to save premium. You notice vehicle has a lien-holder. What are some of the required questions?
A. Do as the NI Says. No need to ask any questions.
B. Advise we can’t remove collision on a vehicle with lien-holder listed
C. Refer them to their agent
D. Share that lien-holder may force place coverage on vehicle and recommend they reach their lien-holder if they would be ok with it and proceed with the change if they insist.
24. NI calls and asks for advice about if they should remove or add a certain coverage. What would you do?
A. Provide options available and refer to licensed Associate for advice
B. Advise the Member as needed
C. Refer them to their Agent
D. Tell them Nationwide only gives options not advise
25. Which of the following loss would be covered under comprehensive coverage?
A. Member’s vehicle hits a mailbox
B. Member’s vehicle hits another vehicle
C. Vehicle rolls over
D. Weather events
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