Package deal
Personal Lines Bundled Exam Questions and CORRECT Answers
Personal Lines Bundled Exam Questions and CORRECT Answers
[Show more]Personal Lines Bundled Exam Questions and CORRECT Answers
[Show more]Abandonment Clause A clause often contained in property insurance policies stating that 
the insured cannot abandon damaged property to the insurer and demand to be reimbursed for 
its full value 
Accident A sudden fortuitous event 
Actual Cash Value (ACV) The cost to replace an item of property a...
Preview 2 out of 13 pages
Add to cartAbandonment Clause A clause often contained in property insurance policies stating that 
the insured cannot abandon damaged property to the insurer and demand to be reimbursed for 
its full value 
Accident A sudden fortuitous event 
Actual Cash Value (ACV) The cost to replace an item of property a...
5 Qualifications for a General Lines License 1. 18 years old 
2. resident of FL or place of business in FL 
3. 200-hour course or 1 yr experience in all lines 
4. cannot be for writing controlled business 
5. Exam waived for CPCU designation or college degree with 15 hours in insurance 
controlled ...
Preview 2 out of 15 pages
Add to cart5 Qualifications for a General Lines License 1. 18 years old 
2. resident of FL or place of business in FL 
3. 200-hour course or 1 yr experience in all lines 
4. cannot be for writing controlled business 
5. Exam waived for CPCU designation or college degree with 15 hours in insurance 
controlled ...
5 Qualifications for a General Lines License1. 18 years old 
2. resident of FL or place of business in FL 
3. 200-hour course or 1 yr experience in all lines 
4. cannot be for writing controlled business 
5. Exam waived for CPCU designation or college degree with 15 hours in insurance 
controlled b...
Preview 2 out of 15 pages
Add to cart5 Qualifications for a General Lines License1. 18 years old 
2. resident of FL or place of business in FL 
3. 200-hour course or 1 yr experience in all lines 
4. cannot be for writing controlled business 
5. Exam waived for CPCU designation or college degree with 15 hours in insurance 
controlled b...
Which of the following is LEAST likely to be a factor when determining the eligibility of a 
person for property insurance? 
A.) The claims history showing when prior claims occurred and how much was paid to settle 
the claim. 
B.) The nature of the risk, such as the type of building and the numbe...
Preview 4 out of 57 pages
Add to cartWhich of the following is LEAST likely to be a factor when determining the eligibility of a 
person for property insurance? 
A.) The claims history showing when prior claims occurred and how much was paid to settle 
the claim. 
B.) The nature of the risk, such as the type of building and the numbe...
A person who does not lock the door to his or her house shows an indifferent attitude. What 
type of hazard does this represent?Morale 
Wagering on a sporting event is known as what type of risk?Speculative 
How is actual cash value of property calculated?Current replacement cost minus 
depreciati...
Preview 3 out of 19 pages
Add to cartA person who does not lock the door to his or her house shows an indifferent attitude. What 
type of hazard does this represent?Morale 
Wagering on a sporting event is known as what type of risk?Speculative 
How is actual cash value of property calculated?Current replacement cost minus 
depreciati...
Under Part A of a Personal Auto Policy, which of the following losses would be covered? 
A.) Damage to property being transported by the insured 
B.) Damage to a neighbor's parked car 
C.) Damage to a neighbor's lawn mower in the care of the insured 
D.) Damage to the home the insured owns B.) Dam...
Preview 4 out of 80 pages
Add to cartUnder Part A of a Personal Auto Policy, which of the following losses would be covered? 
A.) Damage to property being transported by the insured 
B.) Damage to a neighbor's parked car 
C.) Damage to a neighbor's lawn mower in the care of the insured 
D.) Damage to the home the insured owns B.) Dam...
Risk _________ is when one takes action to prevent or reduce potential loss.Reduction 
When the number of similar units increases, the predictability of the loss improves according 
to the rule of _____ ________.Large Numbers 
The insuring of risks that are more prone to losses than average risks i...
Preview 3 out of 26 pages
Add to cartRisk _________ is when one takes action to prevent or reduce potential loss.Reduction 
When the number of similar units increases, the predictability of the loss improves according 
to the rule of _____ ________.Large Numbers 
The insuring of risks that are more prone to losses than average risks i...
which part of an insurance policy covers claims-related expenses, reasonable expenses 
incurred by an insured to protect damage property from further loss, or defense expenses? 
A. Additional Coverage 
B. Exclusion 
C. Declaration 
D. Insuring AgreementA. Additional coverage 
The additional coverag...
Preview 4 out of 35 pages
Add to cartwhich part of an insurance policy covers claims-related expenses, reasonable expenses 
incurred by an insured to protect damage property from further loss, or defense expenses? 
A. Additional Coverage 
B. Exclusion 
C. Declaration 
D. Insuring AgreementA. Additional coverage 
The additional coverag...
CIC - Personal Lines UPDATED Exam 
Questions and CORRECT Answers 
HO -3 Dwelling Coverage and Peril - Ans Open Peril and replacement cost 
Personal Property Replacement Cost Loss Settlement - Ans Changes property not eligible for 
RC from ACV to RC 
REplacement Cost loss Settlement for certain non...
Preview 3 out of 18 pages
Add to cartCIC - Personal Lines UPDATED Exam 
Questions and CORRECT Answers 
HO -3 Dwelling Coverage and Peril - Ans Open Peril and replacement cost 
Personal Property Replacement Cost Loss Settlement - Ans Changes property not eligible for 
RC from ACV to RC 
REplacement Cost loss Settlement for certain non...
Guarantee ExamFX, Idaho Personal Lines 
Simulation UPDATED Exam Questions and 
CORRECT Answers 
In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property 
covered by a dwelling policy. How many deductibles will the insured have to pay before the 
policy covers th...
Preview 4 out of 68 pages
Add to cartGuarantee ExamFX, Idaho Personal Lines 
Simulation UPDATED Exam Questions and 
CORRECT Answers 
In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property 
covered by a dwelling policy. How many deductibles will the insured have to pay before the 
policy covers th...
Personal Lines Insurance UPDATED 
Actual Exam Questions and CORRECT 
Answers 
Risk _________ is when one takes action to prevent or reduce potential loss. - CORRECT 
ANSWER- Reduction 
When the number of similar units increases, the predictability of the loss improves according 
to the rule of __...
Preview 3 out of 28 pages
Add to cartPersonal Lines Insurance UPDATED 
Actual Exam Questions and CORRECT 
Answers 
Risk _________ is when one takes action to prevent or reduce potential loss. - CORRECT 
ANSWER- Reduction 
When the number of similar units increases, the predictability of the loss improves according 
to the rule of __...
Ohio Personal Lines (Insurance Exam) 
UPDATED Actual Exam Questions and 
CORRECT Answers 
Stock Insurance Company - CORRECT ANSWER- Issues non-participating policies and 
is owned by stockholders who received taxable corporate dividends as a return profit 
Reinsurance - CORRECT ANSWER- The transfe...
Preview 3 out of 24 pages
Add to cartOhio Personal Lines (Insurance Exam) 
UPDATED Actual Exam Questions and 
CORRECT Answers 
Stock Insurance Company - CORRECT ANSWER- Issues non-participating policies and 
is owned by stockholders who received taxable corporate dividends as a return profit 
Reinsurance - CORRECT ANSWER- The transfe...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
No, you only buy these notes for $42.74. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
78998 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now