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Insurance General Level 1 Licensing Exam
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The Insurance General Level 1 Licensing Exam is a mandatory entry-level exam for individuals seeking to become licensed insurance brokers or agents for general insurance (property and casualty). It tests knowledge of insurance principles, policies (auto, property), and industry ethics, typically requiring a passing score of 70% to apply for a license.  Key Aspects of the General Level 1 Exam: Purpose: Qualifies candidates to sell and advise on general insurance products. Content Focus: Covers technical skills (60% - risk management, policy details), ethics and professionalism (20% -... Show more
Insurance General Level 1 Licensing Exam
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25 Questions

1. Under Coverage A - Dwelling Building of the Standard Homeowner's Policy, which of the following is TRUE?
2. An employer may be held legally responsible for damages caused by an employee who uses hisown vehicle in commission of the employer's business. The employer can effect coverage against this eventuality by purchasing:
3. The Homeowner's Policy excludes coverage against freezing of plumbing systems during the normal heating season but only if inhabitants were absent for:
4. Under windstorm and hail coverage of a Standard Homeowner's Policy, which of the following would be covered?
5. Under Coverage H of a Property Policy, Voluntary Compensation for Residence Employees, there is NO coverage for:
6. The application for automobile insurance forms part of the policy. By law in Alberta, therefore, it is necessary:
7. The Optional Loss Settlement Clause which provides replacement cost (new for old without depreciation) on the contents in a Habitational Package Policy form affording coverage on Section 1- Coverage A, B, C, D plus Section II - Liability coverages of E, F, G and H:
8. Under a Standard Automobile Application form, which of the following statements by an Insured could void loss payment under Section C?
9. Exclusions under Coverage E, Liability Insurance for habitational Forms do NOT include:
10. In the event of a claim under a property policy, loss is payable by the Insurer within after a proof of loss has been filed with the Insurer.
11. Which of the following employees of an insurance agency is NOT required to be licensed?
12. Under a Standard Homeowner's policy in the amount of $100,000, if an insured owns two detached outbuildings valued at $500 each the Insured will receive in the event of a total loss to both: (Do not consider deductible)
13. The Insured is prohibited from driving or operating an automobile in all of the following circumstances except one. Choose the exception.
14. Business Interruption Insurance and Boiler and Machinery coverage:
15. The S.P.F. No 1 carries a provision to pay for expenses of legal defence, but these payments are:
16. Under Section B, Subsection 2 of the S.P.F. No 1, the head of the household is:
17. Your insured owns a cute and well-trained dog, but there is a neighbor who continuously allows her dog to walk off-leash in your clients cul-de-sac. How do you recommend that your client manages their risk of being sued?
18. Actual Cash Value (ACV) is understood as the cost of replacing property, ;less any depreciation to that property. Most insurers expand their definition to recognize that a fair estimate of depreciation at the time of loss depends on which of the following factors?
19. Business interruption insurance comes in various forms. Which statement is true of Profits form?
20. Using SEF 20 and the vehicle has been stolen, when does alternate transit cost coverage commence?
21. In the absence of the Broker Manager, a licensed employee may do one of the following:
22. Which is the correct definition of Robbery?
23. A 'physical hazard' is:
24. The Homeowner's Broad Form differs from the Basic Homeowner's Policy in that the Additional Living Expense is:
25. The basic principle of business interruption insurance is:

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