Kansas Crop Insurance Practice Test

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• How is 'actual cash value' calculated?
• What type of protection does the Group Risk Income Protection (GRIP) plan provide?
• What is the primary purpose of the high risk maps?
• Which of the following does NOT need to be reported to the insurance commissioner?
• A non-resident agent applying for certification does NOT have to do which of the following?
• If a crop loss is covered under multiple Crop Hail Policies, how is the loss managed among insurers?
• When does a producer receive an indemnity with revenue protection?
• What do we call the termination of an insurance policy before its end date?
• In insurance terms, what does a term policy refer to?
• What does crop hail insurance typically cover?
• Which of the following works as a safeguard to verify policy intent?
• In regard to losses due to hail, which statement is true?
• What is the practice when a company attempts to settle a claim based on information altered without the insured’s consent?
• Which type of crop insurance focuses on ensuring a minimum income based on yield and market price?
• What does the term "harvest price exclusion" indicate in insurance policy?
• How is the price election determined under the RP and RP HPE plans?
• A licensed insurance agent must report minor traffic violations to the commissioner of insurance within how many days?
• Catastrophic risk protection (CAT) is available under the area risk protection insurance policy (ARPI) for what type of protection?
• When is a payment made under the Group Risk Plan (GRP)?
• What can be a consequence of defamation in the insurance industry?
• How long may a producer be disqualified from major USDA programs for abusing crop insurance?
• What is the primary benefit of replacement cost coverage?
• What is it called when an insured decides not to continue coverage after the policy period?
• In what year did the Group Risk Plan (GRP) cease to exist?
• When must producers request a change of price election or coverage level?
• Yield protection plans are available only for which type of crops?
• What happens to the amount of insurance available for future claims after a loss is paid under a crop hail policy?
• What is the administrative fee for CAT protection for each crop insured per county?
• What is the crop hail provision that allows the insurer to recover losses from a third party?
• Which policy requires producers to notify the insurer of a loss within a specific timeframe?
• Which of the following is a feature of the Yield Protection plan?
• Which circumstance can lead to rebating practices in insurance?
• How is the revenue protection (RP) guarantee calculated?
• What requirement is necessary for a share transfer during the crop year?
• What is the minimum percentage of the established price that CAT pays?
• What is the definition of proximate cause in relation to insurance?
• Which type of damage is covered by a crop hail policy?
• What is actual cash value?
• What does misrepresentation NOT include when it comes to insurance practices?
• What does the abbreviation APH stand for in crop insurance?
• What is the range of coverage available under the MPCI policy as a percentage of actual production history?
• How often may the commissioner conduct a financial examination of insurance companies?
• What is the term used for the factor that is used to complete the 4-year database for MPCI producers with fewer than 4 years of actual yields?
• What material for the crop year is available for public inspection in the agent's office?
• What does the area revenue protection guarantee base its calculations on?
• To purchase crop hail insurance, a person must have what type of interest?
• Why is actual cash value important in determining insurance payouts?
• How many Continuing Education Courses (CECs) must a life, accident, health or variable contracts agent complete biennially?
• What does "peril" refer to in crop insurance?
• What percentage of the approved yield can producers insure under the yield protection plan?
• What is a major hindrance to the sale of the Group Risk Plan?
• What does nonrenewal refer to in an insurance context?
• Which of the following actions is considered noncompliant with regards to insurance settlement practices?
• What is the definition of liability in terms of insurance?
• The crop hail application must designate which individual?
• Who must hold a license for selling insurance in Kansas?
• What does the actual production history (APH) plan protect against?
• What does Catastrophic Coverage (CAT) pay for regarding crop losses?
• What is the basis for determining a loss under the Group Risk Plan (GRP)?
• The crop hail application may be rejected by the company within what timeframe from the effective date?
• What does the term "risk" refer to in the context of crop insurance?
• What type of loss involves unintentional negligent damage to someone else's property?
• Under an MPCI policy, how much is the insurance amount reduced for each acre planted after the final planting date?
• What is one benefit of having crop insurance during adverse weather conditions?
• What is the time frame in which notice of loss due to hail must be given to the insurance company?
• What does the term 'rebating' refer to in insurance practices?
• What does the common crop insurance policy NOT cover?
• What does the "excess of loss" clause in crop hail optional provisions refer to?
• Coverage levels under GRP can be based on the expected county yield up to what percentage?
• What coverage levels are available under the area risk protection insurance policy (ARPI)?
• Who sets the rates for Multiple Peril Crop Insurance (MPCI)?
• Who must sign the crop hail policy?
• Who does an insurance contract primarily cover?
• What does ARPI stand for in crop insurance?
• What time does the crop hail policy typically expire?
• What does it mean when insurance coverage is nonrenewed?
• What type of crop does the area yield protection insurance primarily focus on?
• What does indemnity in insurance aim to achieve?
• What percentage of the insured planted acreage must be replanted to be eligible for replanting payments?
• Which of the following is described as offering valuable consideration not specified in a contract?
• What triggers a payment under the GRIP plan?
• What is the financial impact of using GRP when applying for loans?
• What does the transit extension of the crop hail policy NOT cover?
• What term refers to possible financial losses in the insurance context?
• Which of the following unit organizations can be used under the Common Crop Insurance Policy?
• What does the revenue protection plan with harvest price exclusion not protect against?
• The MPCI policy coverage is available in increments of how much percent?
• Which practice could involve settling a claim based on fraudulent information?
• What protection does livestock gross margin (LGM) provide?
• What is typically the scope of coverage for crop hail insurance?
• When does MPCI coverage begin?
• Which type of course can be classified as an approved continuing education course?
• Which peril is specifically covered under a crop hail policy?
• How is the projected price determined under the yield protection plan?
• What is morale hazard?
• What is the primary purpose of replanting payments?
• What is the term for publishing a malicious statement intended to harm an insurer's reputation?
• How often must crop license qualifications be renewed?
• Which of the following is true about the area revenue protection (ARP) guarantee?
• How does the Common Crop Insurance Policy assist farmers?
• What does the standard crop hail policy NOT cover?
• Which plan does NOT provide coverage for replanting payments, late planting, and prevented planting?
• What is the minimum width of unharvested strips required for loss adjustment procedures?
• What is required of a non-resident applicant for insurance licensing?
• Which of the following actions could result in a monetary penalty imposed by the commissioner?
• What is the basis for triggering revenue (guarantee) in the area revenue with harvest price exclusion (ARPIwHPE)?
• What principle of insurance ensures the insured is restored to their pre-loss financial condition?
• What does cancellation of a policy mean?
• Which of the following is a common reason for policy cancellation?
• If a landlord insures their share of the crop under a MPCI Policy, what can the tenant do?
• What does the area yield protection (AYP) policy provide protection against?
• What does NCIS general crop hail provisions allow regarding assignments?
• What term describes the uncertainty or chance of loss in insurance?
• What must be done to proceed with a share transfer during the crop year?
• Which document contains the high risk maps?
• How many acres are there in a section?
• What is one characteristic of the Group Risk Plan?
• What practice involves an insurance company paying a licensed producer a financial incentive not specified in the insurance contract?
• How many square feet are in an acre?
• What is a key factor for an insured to receive indemnity payments under crop insurance?
• What does actual cash value represent?
• What is required for producers to successfully cancel a policy?
• What does the amount of insurance protection under the revenue protection plan (RP) depend on?
• What is the duration of a temporary insurance agent license that may be issued?
• Which type of hazard is characterized by dishonesty or lack of integrity?
• How is a disagreement on the amount to be paid for a crop insurance loss settled?
• What peril is NOT included in the standard crop hail policy?
• Under the GRIP insurance plan, when is a payment made for revenue loss?
• What is the basis for insuring each parcel of land independently under the MPCI Policy?
• What is one key aspect that defines unfair claims settlement practices?
• Which of the following is NOT grounds for denial or revocation of an insurance license?
• Under the MPCI program, what right does assignment of indemnity provide?
• Which of the following may NOT be insured under a crop hail policy?
• What is the outcome of pure risk?
• Which legislation regulates the disclosure of nonpublic personal information by insurers?
• How many acres are in a quarter section?
• In the context of GRIP and GRP, what does APH stand for?
• What is the minimum number of CECs required biennially for crop license qualification?
• What is one reason farmers might prefer the GRIP plan over GRP?
• Which of the following best describes "moral hazard"?
• If an insurance agent violates Kansas statutes by receiving premiums, what is the consequence?
• In which situation does insurable interest need to be established?
• How is the indemnity paid under a percentage plan crop hail policy calculated?
• What is one requirement that an applicant for an agent's license does NOT need to fulfill?
• How do you find the RP HPE revenue protection guarantee?
• What can the insurer defer until the actual loss can be determined?
• Which of the following does NOT influence the MPCI premium rates?
• What is the term for an event insured against that could cause loss?
• What determines the insurance amount for crops planted after the final planting date?
• What is the definition of insurance?
• If an insured does not have any insurable acreage to report under the MPCI policy, what must the agent file?
• Which insurance plan pays losses based on county revenue calculated using the higher of projected or harvest price?
• When applying for crop hail insurance, which detail is required to ensure coverage?
• The purpose of the yield protection plan is primarily to protect against what?
• For indemnity assignment under NCIS provisions, what is required?
• What is considered a physical hazard in terms of risk?
• Which question is typically NOT asked on a crop hail application?
• After how many financial examinations of an insurance company does the commissioner need to conduct another?
• What does nonrenewal signify in the context of insurance policies?
• What is the limit of payment under crop hail policies for fire department service charge coverage?
• What is the primary purpose of the subrogation provision in insurance?
• What does the area revenue protection (ARP) guarantee depend on?
• What is an occurrence in the context of insurance?
• What is a primary aspect of crop hail insurance policies?
• Which of the following is NOT considered a coarse grain?
• What type of crop insurance covers revenue based on county performance?
• In insurance terms, what does 'peril' refer to?
• What is considered an indirect loss?
• What must an insurance agent who moves to another state do within 30 days?
• What distinguishes between speculative and pure risk?
• What is a permitted percent of the coverage level available under an MPCI policy?
• Which term refers to the failure to manage risk appropriately?
• What makes the area risk protection insurance policy (ARPI) unique?
• What does negligence mean in the context of liability?
• What is the maximum monetary penalty for unfair practices in Kansas insurance?
• What is the administrative fee for each crop year per county for all levels of coverage in excess of CAT protection?
• How many hours does a producer have to give notice of loss under an MPCI policy?
• What consequence does intentional concealment or misrepresentation of material fact by the insured have?
• What crop insurance plan provides coverage based on individual yield?
• Which policy begins coverage when the crop has been planted?
• A continuing education course designed for license renewal can be classified under which category?
• What is the goal of the Gramm-Leach-Bliley Act?
• Who is primarily responsible for making crop hail insurance recommendations?
• What is the role of the commissioner in regards to agent licensing?
• Under the MPCI policy, which symbol indicates "high risk" land?
• Who determines the actual production history (APH) for coverage under MPCI policies?
• In the context of crop insurance, what does "insurable acreage" refer to?
• For determining the Actual Production History (APH) yield for MPCI, how many consecutive years of production records are required?
• What is the subrogation provision in crop insurance?
• What is the maximum reimbursement for replanting costs under a crop hail policy?
• Which of the following best defines 'indemnity'?
• What is representation in an insurance application?
• What type of license does an individual receive to sell insurance temporarily?
• Which of the following statements is NOT true regarding the Group Risk Plan (GRP)?
• In the context of crop insurance, what does MPCI stand for?
• Which of the following is covered by the common crop insurance policy?
• Crop hail policies are generally issued for how many seasons?
• Under the replant provision, how many days does the insured have to replant the crop?
• Which of the following factors would NOT affect the amount of coverage under MPCI?
• What do limits of liability refer to in an insurance policy?
• What process is used to settle disagreements on the percentage of loss between the insured and insurer?
• What is the term used for a fire occurrence that spans a specific time or place?
• How can the insured cancel a crop hail policy?
• Which of the following is NOT considered an unfair claims settlement practice?
• What is not a consideration before approving an agents license application?
• What type of damage is NOT covered under the Common Crop Insurance Policy?
• When does coverage begin under the area risk protection insurance policy (ARPI)?
• Defamation in the insurance context is primarily concerned with what?
• What determines the coverage level under the Group Risk Plan (GRP)?
• Which factor is critical to determining indemnity payments in crop insurance?
• What specific information is NOT requested on the crop hail policy regarding the crop's location?
• The revenue protection plan protects against loss of revenue caused by which factors?
• Which of the following statements is true regarding the harvest price limitation in revenue protection plans?
• What is the maximum time allowed for insurers to settle and pay claims under an MPCI policy?
• An approved CEC course can be categorized under which management type?
• What type of insurance typically protects against loss of income due to reduced yield?
• After failing the agent's licensing examination, how long must the applicant wait to retake it?
• Which insurance plan provides protection against price declines for feeder cattle?
• Crop hail rates are published on what basis?
• Which act was established to protect consumers' personal financial information?
• Which entity is responsible for determining the high-risk land boundaries and ratings?
• What is the compensation for damage or loss called?
• What does the area revenue with harvest price exclusion (ARPHPE) insurance plan exclude?
• Under a crop hail policy, when does coverage against fire and lightning apply?
• What is the function of the catastrophic risk protection (CAT) insurance?
• An insurance agent is prohibited from receiving premiums under what circumstance?
• Why should producers be cautious of abusing the crop insurance program?
• What is the objective of Multiple Peril Crop Insurance (MPCI)?
• Which of the following is NOT considered a direct loss?
• Who oversees the insurance industry in Kansas?
• Which of the following components is NOT part of the revenue protection calculation?