A client who is a new driver has asked for the cheapest vehicle insurance policy available, and expressly requests a policy with no extra endorsements and with the lowest possible limits. Can a Broker sell such a policy to the new driver?

• A. Yes, the client has the right to choose their policy as long as it meets the statutory requirements.
• B. Yes, but document where you have informed the client of the risks of potentially being underinsured.
• C. No, the Broker has a moral duty not to allow a client to be exposed to such liability.
• D. No, as it will expose the broker to vicarious liability of an under-insured client.

A Broker enters the requested coverages and deductibles into their quoting software to obtain a quote for a client's automobile insurance request. When the quotes are generated, the Broker notices that some insurance companies have quoted with different deductibles or coverage limits. What should the broker do?

• A. Review all quotes and offer the client a quote with the carrier that is most comparable to the coverage and deductibles requested, regardless of the price.
• B. Review all quotes and offer only the top three quotes that offer similar coverage and deductibles.
• C. Review all quotes and offer the lowest price, regardless of the coverage limits and deductible options.
• D. Review all quotes noting the coverage and deductable differences and present the options to the clients along with the quoted premiums.

Proper documentation of client files is critical for protecting a Broker and their brokerage from Errors & Omissions (E & O) Claims. In which situation would proper documentation NOT reduce the risk of liability for the Broker?

• A. The Broker fails to send the binding order within the required timeframe.
• B. The client claims they were unaware of policy exclusions despite signing the application.
• C. The Broker advises the client on coverage options, but the client declines the recommendations.
• D. The client disputes the accuracy of their business operations recorded in the policy documents.

Nearly every insurance policy has Policy Conditions which are common to all policies issued in a particular class. Some policies also contain Statutory Conditions. Which of the following class of insurance policies contain Statutory Conditions?

• A. Burglary insurance policy.
  . Marine insurance policy.
• B. Liability insurance policy.
• C. Fire insurance policy.

Adam's primary job is driving for Uber and Lyft. As a self employed contractor what coverage would provide him with the best liability protection while driving?

• A. Comprehensive General Liability.
• B. Contractor's Liability.
• C. Umbrella Liability.
• D. Section 3, Liability, under the OAP1.