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Comp Exam Personal Lines Questions And Answers With Verified Solutions Already Passed!!!
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Comp Exam Personal Lines Questions And Answers With Verified Solutions Already Passed!!!
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Comp Exam Personal Lines QuestionsAnd Answers With Verified Solutions
Already Passed!!!
The maximum amount payable for all losses within a policy Is known as the:
A. Aggregate limit
B. Per person limit
C. Per occurrence limit
D. Combined single limit - ANSWER✔✔A
All of the following are eligible for coverage under the dwelling program, except:
A. A beauty shop with a small bedroom attached
B. A vacation home used as a secondary residence
C. A duplex
D. A single-family home in the suburbs - ANSWER✔✔A
All of the following are true of section 2 of a homeowners policy, except:
,A. Medical expense coverage is payable to guests
B. Loss assessment charges against the insured by a property owners association
are excluded
C. First aid expenses are automatically included
D. Medical payments coverage would apply if the family dog were to bite someone
three blocks from home - ANSWER✔✔B
The named non-owner endorsement:
A. Covers only the person named on the endorsement
B. Does not supply coverage to meet a states financial responsibility law
requirements
C. Does not apply to a rented vehicle
D. Provides only liability coverage - ANSWER✔✔A
Choose the true statement concerning homeowners policies:
A. The HO-4 provides open peril coverage on both of the dwelling and contents
,B. The section 1 deductible does not apply to property covered under the scheduled
personal property endorsement
C. Section 1 limits coverage on utility trailers up to $500
D. Section 1 limits coverage on fire department service charge to $100 -
ANSWER✔✔B
During a tornado, a factory is destroyed when the roof blows off, causing electrical
wires too short and start a fire, burning down the building. The proximate cause of
the loss is:
A. Fire
B. Hail
C. Tornado
D. Electrical Wires - ANSWER✔✔C
Choose the false statement about the homeowners policy.
A. Coverage C extends to animals, birds, or fish owned by the insured
B. Personal property owned and used by the insured in a vacation home would be
covered
, C. Coverage D provides coverage for additional living expense
D. Motor vehicles do not meet the definition of contents - ANSWER✔✔A
The DP-3 insures personal property against the same perils as:
A. The DP-2 personal property coverage
B. The DP-1 Dwelling Coverage
C. The DP-3 Dwelling Coverage
D. The DP-1 Personal Property Coverage - ANSWER✔✔A
When a loss occurs as a result of two perils, one of which is excluded and the other
of which is insured against, the situation is known as:
A. Proximate causation
B. Bilateral causation
C. Concurrent causation
D. Supplemental causation - ANSWER✔✔C
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