property and casualty exam (150
questions)
A bond that protects an employer against loss caused by the employee's dishonesty is called
a: - correct answer-Fidelity bond
A CGL policy with a general aggregate limit of $300,000 and a per-occurrence limit of
$100,000 would have how much remaining after paying a claim for a $200,000 loss, and
subsequently a second claim for a $100,000 loss? - correct answer-$100,000
A Mobile Home Insurance Policy is most similar to: - correct answer-A Homeowners Policy
A producer is not considered to have a license primarily for controlled business if: - correct
answer-The producer's total sales premiums amount is at least 9 times greater than the
combined premiums for controlled business
A producer tells an applicant for insurance that a competitor insurer is in dire financial straits
and may not be able to honor its claims obligations. Which unfair trade practice has the
producer committed? - correct answer-Defamation
A restaurant discovers that one of its suppliers has changed the amount payable on a check
they issued. Under which Commercial Crime insuring agreement would this loss be
covered? - correct answer-Forgery or Alteration
A temporary license issued to a representative of a licensed producer who dies or becomes
disabled is valid for up to how many days? - correct answer-180
Actual Cash Value is best defined as which of the following? - correct answer-Today's
current price, minus depreciation
Advertising Injury Coverage includes all of the following, except: - correct answer-Wrongful
entry
All of the following are considered liability assumed under insured contracts, except: - correct
answer-Ordinance or Law
All of the following are eligible for coverage under the Dwelling Program, except: - correct
answer-A beauty shop with a small bedroom attached
All of the following are excluded from the Workers' Compensation Law, except: - correct
answer-Part time employees
All of the following are grounds for suspension of a producer's license in Connecticut,
except: - correct answer-Conviction of a misdemeanor
, All of the following are powers and duties of the Commissioner, except: - correct
answer-Performing all duties in the best interest of independent insurance agents
All of the following are true of a Businessowners Coverage Form, except: - correct
answer-Employee dishonesty is automatically included in each policy
All of the following are true of subrogation, except: - correct answer-It allows the insurer to
file suit against the insured
All the following terms describe a loss covered by a commercial crime policy, except: -
correct answer-Mysterious disappearance
An agent must provide a notice of information practices to all applicants or policyholders in
connection with insurance transactions: - correct answer-At the time of application, or policy
delivery, or when the information is collected from a source other than the applicant
An applicant could purchase an insurance policy to cover losses from all the following,
except: - correct answer-An operation of drug smuggling
An HO-3 policy provides coverage on which basis? - correct answer-Open perils coverage
on the dwelling and broad form coverage on the personal property
An individual applying for an insurance license in Connecticut must be no younger than what
age? - correct answer-18
B is traveling to Europe for a month's vacation. Which of the following coverages might her
agent recommend to cover personal items? - correct answer-Personal effects floater
Bonds that are used in court proceedings are called: - correct answer-Judicial Bonds
Choose the false statement about the CGL policy. - correct answer-A Products and
Completed Operations Liability claim will reduce the General Aggregate Limit
Choose the true statement regarding the Value Reporting Form. - correct answer-Late
reporting or under-reporting will result in a penalty in the event of a loss
Coverage A under the Homeowners Policy includes coverage for which of the following? -
correct answer-The dwelling on the insured premises, plus any structures that are attached
to the dwelling
Coverage B of the CGL would cover which of the following claims? - correct answer-The
insured was accused of causing a business associate to be falsely arrested
Coverage is open peril on the Jewelers Block Floater but there is no coverage for
___________ unless added as an optional coverage. - correct answer-Broken or smashed
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