18847167
Question 1
Question
Fidelity bonds are a form of business insurance that offers an employer
protection against losses, either monetary or physical, caused by it employees’
fraudulent or dishonest actions.
Answer
- True
- False
Question 2
Question
The insuring agreement is the portion of an insurance policy for which the insurer
promises to make payment to or in behalf of the insured.
Answer
- True
- False
Question 3
Question
Insuring agreements outline a broad scope of coverage, which is then narrowed by
exclusions, and definitions.
Answer
- True
- False
Question 4
Question
A discovery form of policy allows for coverage of loss as long as the policy is
held after the time of the losses discovery.
Answer
- True
- False
Question 5
Question
A loss-sustained form of policy only allows for the payment of loss if the loss
was both sustained and discovered during the policies coverage.
Answer
- True
- False
Question 6
Question
The limit of liability may be considered as an aggregate amount and/or a single
loss amount.
Answer
- True
- False
Question 7
Question
The aggregate amount of liability is the minimum amount an insurer would have
to pay due to loss over a given policy agreement.
Answer
- True
- False
Question 8
Question
A single loss limit of liability is the maximum amount an insurer would pay to an
insured throughout the duration of a policy.
Answer
- True
- False
Question 9
Question
________ is written for only the individual, and only covers the individual named
in the bond.
Answer
-
Named employee bond
-
Specified position bond
-
Individual bond
-
Blanket bond
Question 10
Question
_________ is a comprehensive policy that does not require the distinction of
individuals, rather the policy covers against the loss from all employees for which
the policy or bond is granted.
Answer
-
Named employee bond
-
Specified position bond
-
Individual bond
-
Blanket bond
Question 11
Question
________ allows for coverage of all employees named
Answer
-
Named employee bond
-
Specified position bond
-
Individual bond
-
Blanket bond
Question 12
Question
________ covers the loss that may be incurred by a certain positioned employee.
Answer
-
Named employee bond
-
Specified position bond
-
Individual bond
-
Blanket bond
Question 13
Question
Financial institution bonds are used to insure banks and other financial institutions
against employee dishonesty, burglary, robbery, forgery, and similar crime
exposures.
Answer
- True
- False
Question 14
Question
Insurance companies:
Answer
-
Form 14
-
Form 15
-
Form 23
-
Form 24
-
Form 25
Question 15
Question
Securities Dealers:
Answer
-
Form 14
-
Form 15
-
Form 23
-
Form 24
-
Form 25
Question 16
Question
Credit Unions
Answer
-
Form 14
-
Form 15
-
Form 23
-
Form 24
-
Form 25
Question 17
Question
Finance Companies
Answer
-
Form 14
-
Form 15
-
Form 23
-
Form 24
-
Form 25
Question 18
Question
Banks and Thrifts:
Answer
-
Form 14
-
Form 15
-
Form 23
-
Form 24
-
Form 25
Question 19
Question
A pension bond guarantees that a state or local government pays into its
employees pension funds as obligated.
Answer
- True
- False
Question 20
Question
Coverage form O serves as protection for a municipality or government agency
against the dishonest workings of a public employee, and may often be referred to as
public employee dishonesty coverage.
Answer
- True
- False
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