TEXAS PROPERTY AND CASUALTY REAL EXAM QUESTIONS WITH 100% CORRECT ANSWERS || GUARANTEE TO PASS < UPDATED>
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TEXAS PROPERTY AND CASUALTY
Institution
TEXAS PROPERTY AND CASUALTY
TEXAS PROPERTY AND CASUALTY
REAL EXAM QUESTIONS WITH
100% CORRECT ANSWERS ||
GUARANTEE TO PASS < UPDATED>
An employee accidentally damaged a sprinkler head that is part of
Jumbo Store's automatic sprinkler system. The manager shuts off the
system's main valve and noti...
TEXAS PROPERTY AND CASUALTY
REAL EXAM QUESTIONS WITH
100% CORRECT ANSWERS ||
GUARANTEE TO PASS < UPDATED>
An employee accidentally damaged a sprinkler head that is part of
Jumbo Store's automatic sprinkler system. The manager shuts off the
system's main valve and notifies the sprinkler company, which schedules
the repair for that evening. Shortly before the store closes that night, a
fire breaks out in the storeroom. How will the protective safeguards
endorsement to Jumbo's business owners policy respond to the claim for
fire damage? - ANSWER ✔ The policy will cover the loss because the
protective system was shut off for less than 48 hours.
The protective safeguards endorsement permits an exception to the
notice requirement when the safeguard is impaired for less than 48
hours.
Which pollution-related liability claim would an ISO business owners
policy cover? - ANSWER ✔ carbon-monoxide fumes from a defective
furnace that make motel guests ill
Despite the breadth of the BOP's pollution exclusion, it covers bodily
injury from fumes emitted by a building's heating equipment.
Regarding the Farm Property-Farm Dwellings, Appurtenant Structure,
and Household Personal Property Coverage Form (FP 00 12) policy,
what does Coverage C-Household Personal Property of that form cover?
,- ANSWER ✔ the insured owner's household personal property, but not
farming supplies
Coverages A, B, and C of the Farm Dwelling (FP 00 12) policy do not
cover property related to the insured owner's farming operations.
When the Brianna collided with the Tania, marine experts determined
that the captain of the Brianna was at fault. What provision in the
Brianna's ocean marine policy protects the shipowner or operator against
the Tania's property damage liability claim? - ANSWER ✔ running
down clause, also known as a collision liability clause
Hull policies customarily include a collision clause, also known as a
running down clause, that protects the shipowner or operator against loss
resulting from liability for damage to another vessel or its cargo.
When an insurance policy provides crime coverage on a loss sustained
basis, coverage is triggered by a loss that occurs: - ANSWER ✔ during
the policy period and is discovered within one year after the policy
period ends
Loss sustained coverage applies to loss that occurs during the policy
period and is discovered within one year after the policy period ends.
Discovery-based coverage applies to loss that is discovered during the
policy period or within 60 days after the policy period ends.
Which form(s) value dwelling buildings on the basis of actual cash
value? - ANSWER ✔ DP 1
Buildings are valued on an actual cash value basis under the DP 1.
As a result of flood damage to his store, Burt was out of business for
several months, lost income, and incurred additional expenses to comply
with a floodplain management ordinance requiring him to relocate the
,store to a higher elevation. Under some circumstances, Burt's NFIP
policy might pay or reimburse him for: - ANSWER ✔ the increased cost
of complying with floodplain management ordinance
The increased cost of compliance coverage will apply under the right
circumstances. However, the NFIP provides no coverage for loss of use,
lost revenue, or lost profits.
An insurer will consider an injured employee to have reached maximum
medical improvement when: - ANSWER ✔ 104 weeks have passed
since the date income benefits were first due.
The date of maximum medical improvement means the earliest of the
date that, based on reasonable medical probability, further improvement
from an injury can no longer reasonably be anticipated or 104 weeks
from the date that income benefits begin to accrue.
While a businessowners policy combines coverages that might
otherwise be written on several forms, it does NOT include coverage
for: - ANSWER ✔ workers compensation
A single BOP combines coverages that might otherwise be written on
separate property, liability, crime, and inland marine forms.
Kathleen's Victorian house is not eligible for coverage under a
homeowners insurance policy. Which policy might provide comparable
property coverage? - ANSWER ✔ dwelling policy
A dwelling policy is often used for residences that fail to meet eligibility
requirements for homeowners insurance.
The complete personal auto policy combines coverage for - ANSWER
✔ property and liability insurance
, The ISO personal auto policy combines property and liability insurance
in a single policy to protect families and individuals. Property insurance
protects the vehicle from loss due to fire or collision. Liability insurance
protects the owner or operator if the vehicle is involved in an accident
that results in injury or death.
When describing the policy's coverage, the word "special" on the
declarations page means the policy is a(n): - ANSWER ✔ open perils
form
When describing the policy's coverage, the word "special" on the
declarations page means it is an open perils policy.
Which of the following is not an acceptable reason for canceling a
general liability policy that has been in effect for more than 60 days? -
ANSWER ✔ change in marital status
An insurer may not cancel a general liability insurance policy that has
been in effect for more than 60 days for all of the reasons listed except
for a change in the insured's marital status.
Gerald's ISO commercial property policy would likely NOT include
which causes of loss form? - ANSWER ✔ comprehensive causes of loss
form
The three ISO causes of loss forms are basic, broad, and special; there is
no comprehensive causes of loss form.
An employee's thumb was crushed in a printing press accident while
working for his employer, Print Shop. The accident was a direct result of
a design defect in a printing press recently bought from L&M Co. Which
of the following statements accurately describes how Print Shop's
workers compensation insurer will handle this case? - ANSWER ✔ It
will pay benefits to the employee and subrogate against L&M Co.
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