Study 14 – Industry Programs for Insurance Availability Flashcards Preview

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Flashcards in Study 14 – Industry Programs for Insurance Availability Deck (10)
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1
Q

Accident Benefits is mandatory coverage in all provinces except for

a. Quebec
b. Newfoundland
c. Alberta
d. Manitoba

A

b. Newfoundland

2
Q

In Alberta, an automobile with a trailer is considered:

a. as one vehicle under Third Party Liability, Accident Benefits, and Physical Damage coverage
b. as one vehicle under Third Party Liability and Accident Benefits coverage
c. as separate vehicles under Third Party Liability and Physical Damage coverage
d. none of the above

A

b. as one vehicle under Third Party Liability and Accident Benefits coverage

3
Q

In Alberta, Uninsured Motorist coverage is provided by:

a. Section D – Uninsured Motorist coverage
b. Accident Benefits coverage - Subsection 3
c. Motor Vehicle Accident Claims program (MVAC)
d. none of the above

A

b. Accident Benefits coverage - Subsection 3

4
Q

In Alberta, when taking possession of a newly acquired vehicle, the insured must notify the insurer

a. as soon as practical
b. within 14 days
c. within 10 days
d. on the date of possession

A

b. within 14 days

5
Q

In Nova Scotia, insurers are obligated to offer

a. supplementary AB coverage in the same form as mandatory but with increased duration
b. supplementary AB coverage in the same form as mandatory but with increased duration and limits
c. supplementary AB coverage under broader form than mandatory with no increased duration but increased limits
d. supplementary AB coverage under broader form than mandatory with increased duration and increased limits

A

b. supplementary AB coverage in the same form as mandatory but with increased duration and limits

6
Q

This form has been approved to insure the majority of automobile risks in Alberta, Newfoundland, Prince Edward Island, and Nova Scotia

a. SPF 4 Garage Automobile Policy
b. SPF 2 Drivers Policy
c. SPF 1 Standard Policy Form
d. SEF 1 Standard Endorsement Form

A

c. SPF 1 Standard Policy Form

7
Q

Which of the following jurisdictions has a minimum TPL limit of $500,000?

a. Prince Edward Island
b. Alberta
c. Yukon Territory
d. Nova Scotia

A

d. Nova Scotia

8
Q

Which of the following province(s) still have a tort-based system of automobile insurance

a. Alberta
b. Newfoundland
c. Alberta and Atlantic provinces
d. Alberta and Newfoundland

A

c. Alberta and Atlantic provinces

9
Q

Which of the following statements is true?

a. Prince Edward Island, Nova Scotia and Alberta are no-fault systems with regards to bodily injury but do not have Direct Compensation systems with regards to physical damage
b. Prince Edward Island, Nova Scotia and Alberta are no-fault systems with regards to bodily injury and also have Direct Compensation systems with regards to physical damage
c. Prince Edward Island, Nova Scotia and Alberta are tort systems with regards to bodily injury and do not have a Direct Compensation systems with regards to physical damage
d. Prince Edward Island, Nova Scotia and Alberta are tort systems with regards to bodily injury and also have Direct Compensation systems with regards to physical damage

A

c. Prince Edward Island, Nova Scotia and Alberta are tort systems with regards to bodily injury and do not have a Direct Compensation systems with regards to physical damage

10
Q

Which province has Uninsured Motorist cover provided under Accident Benefits

a. Alberta
b. Nova Scotia
c. Atlantic provinces
d. Newfoundland

A

a. Alberta