IPCI Indiana Property and Casualty Insurance Exam - Set 1 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: A Fort Wayne applicant buys an auto policy with bodily injury liability limits of one hundred thousand dollars per person and three hundred thousand dollars per accident. Which of the following states the uninsured and underinsured motorist limits the insurer must make available to her?

Twenty-five thousand and fifty thousand dollars

Fifty thousand dollars regardless of liability limits

Limits equal to her bodily injury liability

Whatever limits the insurer chooses to file

Question 42: A homeowner in Vigo County asks her producer what the state mine subsidence fund actually insures against, since her homeowners policy names it as an optional coverage. Which of the following describes the event the Indiana fund covers?

Collapse of abandoned underground coal mines

Sinkholes formed by dissolving limestone

Earth movement from any subsurface cause

Settlement of poorly compacted building fill

Question 43: After a Greenwood driver is convicted of a moving violation, his insurer files one document showing he carried the required coverage on the date of that violation, and later files another certifying coverage going forward. Which of the following names the two documents in that order?

SR-22, then Certificate of Compliance

SR-26, then Certificate of Compliance

Certificate of Compliance, then SR-22

Certificate of Compliance, then SR-26

Question 44: An Indiana employer is cited by the Worker's Compensation Board for one of the enumerated failures in IC 22-3-4-15, and the Board notes that a repeat finding draws more than a first one. Which civil penalty range does that section set?

Fifty dollars up to three hundred dollars

One hundred dollars for each day

Fifty dollars up to ten thousand dollars

Twenty-five thousand dollars for each violation

Question 45: A warehouse worker in Elkhart is hurt on the job and cannot return to work at all. Under the Indiana benefit rules in IC 22-3-3, how long must she be unable to work before weekly income benefits become payable to her?

More than three days

More than seven days

More than fourteen days

More than twenty-one days

Question 46: A commercial property policy written for a Columbus machine shop has been in force for eight months when the insured stops paying premium. The insurer decides to cancel for nonpayment. How much advance notice does Indiana require before that cancellation takes effect?

Twenty days

Thirty days

Ten days

Forty-five days

Question 47: An insurer will not renew a one-year commercial property policy covering a Jeffersonville printing plant when it expires. Indiana requires written notice ahead of the expiration date. How far in advance of expiration must that nonrenewal notice be sent?

Forty-five days

Twenty days

Thirty days

Sixty days

Question 48: A commercial policy covering a Vincennes grain elevator has been in force for three years. The insurer's reinsurance on that risk has since been cancelled, and underwriting wants out. Which of the following describes Indiana's treatment of that reason under IC 27-1-31-2?

It is never a permitted ground

Cancellation is allowed inside ninety days only

It is one of five permitted grounds

It requires the Commissioner's prior approval

Question 49: A machine operator in Richmond hurts his shoulder at work but says nothing to his supervisor for six weeks after the accident. Under the Indiana injury reporting guidance in IC 22-3, what risk does that delay create for his claim?

Benefits are reduced by half

Waiting past thirty days may bring denial

The employer loses its coverage

The second injury fund takes over

Question 50: An insurer decides, seventy days after issuing a commercial package policy to a Bloomington retailer, to cancel because underwriting no longer wants the class of business. No fraud or nonpayment is involved. Which notice period does Indiana require for that cancellation?

Ten days

Twenty days

Forty-five days

Thirty days

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