PROPERTY & CASUALTY QUESTIONS GA EXAM
1. Which circumstance would require the use of an arbitration clause in a personal auto policy?
A. The insured and a pedestrian cannot agree on the settlement of a claim.
B. The insured and an injured third party cannot agree on the settlement of a claim....
PROPERTY & CASUALTY QUESTIONS GA EXAM
1. Which circumstance would require the use of an arbitration clause in a personal auto policy?
A. The insured and a pedestrian cannot agree on the settlement of a claim.
B. The insured and an injured third party cannot agree on the settlement of a claim.
C. The court has ruled against an injured third party.
Correct answer: B. The insured and an injured third party cannot agree on the settlement of a claim.
2. Which type of bond protects an employer from the actions of dishonest employees?
A. Surety
B. Fidelity
Correct answer: B. Fidelity
3. A dwelling has been vacant for more than 60 consecutive days. Which of the following is most likely
NOT covered?
A. Vandalism
B. Smoke
C. Fire
D. Falling Objects
Correct answer: A. Vandalism
4. Susan injures her foot while in her backyard on a rake left by her landscapers. Which part of the CGL
policy will protect the owner of the landscaping company?
,A. Operations exposure
B. Products Liability
C. Completed operations liability
D. Premises exposure
Correct answer: A. Operations exposure
5. Where can premium computation be found in a workers' compensation policy?
A. Part 1
B. Part 2
C. Part 3
D. Part 5
Correct answer: D. Part 5
6. What is the definition of exclusive remedy in workers' compensation?
A. Contributory negligence
B. The fellow servant rule
C. Assumption of risk
D. Exclusive remedy
Correct answer: D. Exclusive remedy
7. What is the purpose of the basic extended reporting period in a commercial general liability (CGL)
"claims-made" policy?
A. Additional time for monthly reports for rating purposes
,B. Coverage for events that happened before the policy became effective
C. Coverage for events that happened up to 5 years after the policy has expired
D. Coverage for events that happened after the retroactive date, but not within 60 days of policy
expiration
Correct answer: D. Coverage for events that happened after the retroactive date, but not within 60 days
of policy expiration
8. What is the purpose of the employer's liability section (Part 2) in a workers' compensation policy?
A. Pay for lawsuits filed by an employer
B. Pay for benefits required by state workers' comp laws
C.Pay for third-party claims against a negligent employer
Correct answer: B.Pay for benefits required by state workers' comp laws
9. What endorsement do truckers transporting hazardous materials require?
A.Form MCS-90
B.Form W-2
C.Form MCS-70
D.Form 1099
Correct answer: A.Form MCS-90
Which of the following is NOT a use of auto symbols in the commercial auto policy?
A. To determine how coverage will apply to vehicles acquired after the policy effective date
B. To determine which rating territory applies to the covered autos
C. To custom the policy to the insured's needs by selective the appropriate coverage ✔️B. To determine
which rating territory applies to the covered autos
, Coverage for fungi, wet rot, and bacteria on a business-owner policy is limited to
A. 12k per policy limit
B. 15k per policy limit
C. 15k per occurrence
D. 25K per policy period ✔️B. 15k per policy limit
The insured's property ins policy has a deductible clause. This Means that
A. the insured deducts any claim payment recieed from the next ins
B. any losses paid a third party are deducted from the policy limit
C. The insured must pay a certain amt for each loss incurred under the policy ✔️C. The insured must
pay a certain amt for each loss incurred under the policy
All of the following are insured contract under the commercial general Liability (CGL) policy EXCEPT
A. lease of business equipment
B. elevator maintenance agreement
C. agreement to indemnify a municipality
D railroad sidetrack agreement ✔️A. lease of business equipment
Which is a characteristic of the businessowners policy (BOP?
A. It is an alternative to a commercial package policy
B It may be written monoline only.
C It may only be written as part of a commercial package policy.
D. It may be written monoline pr part of a commercial package policy. ✔️A. It is an alternative to a
commercial package policy
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
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!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
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.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller bestscores1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.83. You're not tied to anything after your purchase.
