Exam (elaborations)
Property and Casualty Exam Prep (AR) Questions and Answers 2024
- Course
- Institution
Property and Casualty Exam Prep (AR)
[Show more]
Content preview
Property and Casualty Exam Prep (AR)The minimum amounts of auto liability required in AR is? - answer25,000PP, 50,000 per
accident, 25,000 PD
The minimum amount of Uninsured Motorist coverage required in AR is? -
answer25,000PP, 50,000 per accident
The common Policy declaration of the commercial package policy would provide what
information? - answer Insureds Business Description
How does the dwelling policy provide theft coverage? - answerIt must be added by
endorsement
When an insurer cancels an auto liability policy for an reason other than non payment of
the premium in Arkansas, it is required to give the insured written notice at least.. -
answer20 days in advance
Automobile insurance policies covering private passenger vehicles in Arkansas must
include no-fault benefits for loss of income. For a working individual who is disabled
because of an accident, the benefit percentage and duration is.. - answer70% of the
loss of income- up to 52 weeks
Which of the following terms describes a building in which no one is present but
occupants intend to return? - answerUnoccupied
Making statements that misrepresent an insurance policy in order to induce an insured
to replace the contact with one issued by another carrier is a prohibited practice known
as... - answerTwisting
Transacting insurance means all of the following - answerSoliciting Insurance, Writing
an application, and Negotiating Insurance.
When an insurer decides not to renew an auto liability policy, it is required to give
written notice of non renewal to the named insured at least how many days in advance?
- answer20 days
The Property and Casualty Insurance Guarantee Program will only pay a maximum of
how much for any individual covered claim for unearned premium? - answer$25,000.00
A dwelling policy can be used to insure all of the following except..
, A- Rental Homes
B- Lake Cabins
C- Duplexes
D- An apartment building with 6 units - answerCORRECT- D
The federal government is not obligated under the TRIA to make payments for any
portion of losses that exceed how much anually? - answer100 Billion
The insured is looking for the amount of coverage in the property and casualty policy.
This information would be found where? - answerThe Declarations
All of the following are benefits specified by workers compensations laws except..
A-Rehabilitation Benefits
B- Retirement Plan Contributions
C- Lost Wages
D- Medical Expenses - answerCORRECT- B
What is the process of evaluating risk and exposures to potential clients? -
answerUnderwriting
Which of the following situations is covered under a commercial general liability policy?
A- An insured boat rams into another boat
B- A shopper is injured when a shelf of merchandise collapses.
C- An insured car strikes a pedestrian - answerCORRECT- B
An insured speeds through a neighborhood, almost striking several children. Under the
insurance definition of negligence, such an insured would be held - answerNot legally
liable
The business owners policy will pay reasonable expenses for how long? - answer1 year
from date of accident
In Arkansas, every licensed insurance producer must notify the commissioner in writing
of any change in business address within how many days of the change? - answer10
days
The following perils may be insured against under a basic dwelling policy except-
A- Fire
B- Lightning
C- Vandalism and Malicious Mischief
D- Flood - answerCORRECT- D
A policy may be amended only with a(n): - answerEndorsement
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 julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now