PROPERTY AND CASUALTY INSURANCE EXAM QUESTIONS WITH GUARANTEED ACCURATE ANSWERS
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Course
Property and Casualty Insurance
Institution
Property And Casualty Insurance
Which of the following are the authorities that an agent can hold? - ACCURATE ANSWERS Express and implied
Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - ACCURATE ANSWERS Permanent partial disability
Who is NOT considered an employee in a...
PROPERTY AND CASUALTY
INSURANCE EXAM QUESTIONS
PROPERTY AND CASUALTY INSURANCE EXAM QUESTIONS WITH GUARANTEED
ACCURATE ANSWERS
Which of the following are the authorities that an agent can hold? - ACCURATE
ANSWERS✔✔ Express and implied
Which of the following terms refers to such disabilities the loss of a limb, hearing ,
or eye sight? - ACCURATE ANSWERS✔✔ Permanent partial disability
Who is NOT considered an employee in an commercial general liability (CGL)
policy? - ACCURATE ANSWERS✔✔ Temporary worker
The major portion of the premium of an equipment breakdown policy pays? -
ACCURATE ANSWERS✔✔ For inspections and examinations
,An insured owns a building valued at $400,000. To comply with the 80%
coinsurance provision of his insurance policy, how , much should he insure the
property for? - ACCURATE ANSWERS✔✔ 80% of the property's replacement
cost or more
Under the Fair Credit Reporting Act, if the consumer challenges the accuracy of
the information contained in his or her report, the reporting agency must -
ACCURATE ANSWERS✔✔ Respond to the consumer's complaint.
All of the following are found in the declarations section of a policy EXCEPT the -
ACCURATE ANSWERS✔✔ Exclusions.
The cost of restoring farm records is an additional coverage offered under a farm
policy. How much will the policy pay to restore the records? - ACCURATE
ANSWERS✔✔ Up to $2,000
All of the following could be considered rebates if offered to an insured in the sale
of insurance EXCEPT - ACCURATE ANSWERS✔✔ Dividends from a mutual
insurer.
Which of the following may be covered by electronic data processing coverage
form under an inland marine policy? - ACCURATE ANSWERS✔✔ a) Computer
hardware that is specifically scheduled.
b) Extra expense the insured incurs to continue the business following a loss.
c) Data processing media, including magnetic tapes or paper tapes, punch cards
and discs
,The party to a surety or fidelity bond who promises to fulfill the obligation is the -
ACCURATE ANSWERS✔✔ Principal
The transfer of money from inside a banking premises to a person other than a
messenger outside those premises or to a place outside those premises is covered
under which commercial crime coverage? - ACCURATE ANSWERS✔✔
Computer fraud
Which of the following would NOT be covered under the liability section of a
personal auto policy? - ACCURATE ANSWERS✔✔ Bodily injury is caused by
the insured's negligence while driving a three-wheel all-terrain vehicle.
When a producer holding a certificate or a broker's license has a change in his/her
residence or business address, he/she must notify the Department of Insurance and
any company for which the producer holds an appointment within - ACCURATE
ANSWERS✔✔ 30 days.
What will happen if a house covered by a standard mortgage clause is a total loss?
- ACCURATE ANSWERS✔✔ The insurer pays the mortgagee according to the
mortgagee's interest in the property.
What is the civil penalty for violating a cease and desist order of the
Commissioner? - ACCURATE ANSWERS✔✔ $10,000
The Business Pursuits endorsement under Section II of a homeowners policy will
cover all of the following EXCEPT - ACCURATE ANSWERS✔✔ Business
liability.
, If a property is covered by Company A for $20,000 and Company B covers the
same property for $40,000, how much will Company A pay on a $24,000 loss? -
ACCURATE ANSWERS✔✔ $8,000
The risk management technique that is used to prevent a specific loss by not
exposing oneself to that activity is called - ACCURATE ANSWERS✔✔
Avoidance.
In a farm policy, any cost incurred by the insurer for the investigation or defense of
a claim will be paid by - ACCURATE ANSWERS✔✔ The insurer.
Which of the following entities must approve all continuing education courses in
this state? - ACCURATE ANSWERS✔✔ The Commissioner
An applicant knowingly fails to communicate information that would help an
underwriter make a sound decision regarding coverage. This is an example of -
ACCURATE ANSWERS✔✔ Concealment
A common exclusion found under physical damage to your auto includes -
ACCURATE ANSWERS✔✔ Mechanical breakdown.
Which of the following is true regarding a risk retention group? - ACCURATE
ANSWERS✔✔ It is a liability insurance company owned by its members.
Which of the following best describes a misrepresentation? - ACCURATE
ANSWERS✔✔ Issuing sales material with exaggerated statements about policy
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