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South Carolina Property and Casualty Insurance Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert) $12.99
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South Carolina Property and Casualty Insurance Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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South Carolina Property and Casualty Insurance Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

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  • August 9, 2024
  • 33
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • south carolina property and casualty insurance

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  • South Carolina Insurance
  • South Carolina Insurance

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South Carolina Property and Casualty Insurance Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/South%20Carolina%20




South Carolina Property and Casualty Insurance

Exam


1. The process an insurer uses to evaluate applications and determine if a policy

should be issued and on what terms, conditions, and rate is known as?

ANS Underwriting

2. The Director is conducting an examination of a foreign company transactingbusiness in

South Carolina. Who is responsible for the cost of the examina- tion?

ANS Foreign company

3. Driver A has a personal auto policy with Part C UM/UIM limits of 100/300. Heis injured

by Driver B who has Part A Bodily Injury Liability Limits of 50/100. It is determined that

Driver B is at fault for the accident . Driver A has $125,000 inmedical expenses. How much

will Part CUM/UIM coverage will pay?

ANS 50,000

4. A premium discount is the term that describes when an insured owes a total standard

premium greater than?






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ANS 5,000

5. According to SC law, comprehensive deductibles do not apply to

ANS safetyglass

6. Who is an insurance producer?

ANS Any person licensed to sell, solicit or negotiateinsurance

7. Employee fidelity may be written in all the following ways EXCEPT

ANS Locationschedule

8. Section 1 of boatowners policy covers

ANS Physical Damage

9. Which type of losses are covered by the South Carolina Wind and Hail

Underwriting Association?

ANS Both Direct and Indirect losses

10. Before granting a Certificate of Authority to a company, the Director mustbe satisfied

by proper evidence that all of the following are true EXCEPT

ANS Theinsurer does not have a Certificate of Authority in any other state

11. Erroneous Publishing copied all the material from Angels Inc.'s book.Theonly

changes made by Erroneous were to rename the title and chapters, put a different cover

on it, and distribute it as its own. Angels Inc. files a claim against Erroneous and seeks





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damages. Will a commercial general liability policy cover the claim?

ANS No, because the claim results from copyright infringementand is not in an advertisement

12. When the insured's car was totaled in a recent accident, the ownership ofthe car was

transferred to the insurer. The insurer then sold off the wrecked car to recover some of

the loss it paid to the insured.What is the term for thisaction?

ANS Salvage

13. The reduction, decrease, or disappearance of value of the person or prop-erty insured

in a policy by a peril insured against is known as

ANS loss

14. A plasterer has finished a job.What kind of liability coverage would protecthim if the

plaster falls and hurts someone because he did not do the job correctly?

ANS Completed operations









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15. Which employee fidelity bond pays no more than its limit of liability for each

separate occurrence no matter that several separately identifiable em-ployees were

involved in a single loss?

ANS commercial blanket position

16. If an employee consumes alcohol, becomes intoxicated, and is injured atwork, he/she

is .

ANS Not covered if the consumption of alcohol is provento have caused the injury

17. Under Coverage C of a farm policy, what is the limit payable on businessproperty

located away from the premises?

ANS $500

18. Within how many days of requesting an investigative consumer reportmust an

insurer notify the consumer in writing that the report will be ob- tained?

ANS 5 days

19. What is the purpose of the government crime coverage form?

ANS To providecrime coverage to those who do not qualify in the normal market

20. Which of the following insurance options would be considered a risk-shar-ing

arrangement?







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