Exam (elaborations)
Property and Casualty Exam - Texas
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Property and Casualty Exam - Texas
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PROPERTY AND CASUALTY EXAM WITHVERIFIED SOLUTIONS
____ dis duncertainty dof dloss d- dcorrect danswers d-risk
____ dis da dtransfer dof drisk dfrom dthe dinsured dto dthe dinsurer d- dcorrect
danswers d-insurance
____ drisk dmeans dthere dis dno dchance dof dgain. dIt dis dinsurable. d- dcorrect
danswers d-pure
____ drisk dmeans dthere dis da dchance dof da dloss dor da dgain. dIt dis dnot
dinsurable. d- dcorrect danswers d-speculative
,a d____ dis dsomething dthat dincreases dthe drisk. d- dcorrect danswers d-hazard
the dprinciple dof d_____ dgoverns dproperty dand dcasualty dpolicies. dIt dstates dthat
dthe dpurpose dof dthe dpolicy dis dto drestore dthe dinsured dfinancially dto dwhere
dthey dwere dprior dto dthe dloss d- dcorrect danswers d-indemnity
_____ d_____ dmust dexist don da dcasualty dpolicy dat dtime dof dloss din dorder dfor
dthe dpolicy dto dprovide dcoverage. d- dcorrect danswers d-insurable dinterest
the dlaw dof d_____ d_____ dis dused dto dpredict dthe dlikelihood dof dloss d- dcorrect
danswers d-large dnumbers
____ d____ d____ dis dreplacement dcost dminus ddepreciation. d- dcorrect danswers
d-actual dcash dvalue
________ dis da dtort, dor dcivil dwrong; dit dis dgrounds dfor da dlawsuit. d- dcorrect
danswers d-Negligence
_______ dis dthe dfailure dto dact das da dreasonable dperson dwould din dthe dsame
dset dof dcircumstances d- dcorrect danswers d-negligence
an d_____ dhappens dover da dperiod dof dtime d- dcorrect danswers d-Occurrence
a d_____ dmay dbe doral dor dwritten d- dcorrect danswers d-binder
a d_____ dprovides dcoverage duntil dthe dpolicy dis dissued. dit dincludes dall
dcoverages dprovided dby dthe dpolicy. d- dcorrect danswers d-binder
a d____ dis da dliteral dtruth d- dcorrect danswers d-warranty
a d_______ dis da dsubstantial dtruth. din dinsurance, dstatements dof dthe
dapplicant/policyowner dare d_______ d- dtrue dto dthe dbest dof dtheir dknowledge d-
dcorrect danswers d-representation
______ dis dan domission dof da dmaterial dfact. d- dcorrect danswers d-concealment
the dinsurer dhas dthe dright dto dsue da dnegligent dthird dparty dfor ddamages dpaid
dto dan dinsured dunder dthe dconcept dof d______ d- dcorrect danswers d-subrogation
four dparts dof da dpolicy d- dcorrect danswers d-DICE d(declarations, dinsuring
dagreement, dconditions, dand dexclusions)
the d______ dlist dthe dnamed dinsured, dpolicy dlimits, dand dpremium dand dpolicy
dperiod d- dcorrect danswers d-declarations
,the d____ d__ d____ dare dfound don dthe ddeclaration dpage dof dthe dpolicy d-
dcorrect danswers d-limits dof dliability
the d_______ d_______ ddescribes dthe dcoverages dprovided d- dcorrect danswers d-
insuring dagreement
the d_______ dlist dthe dobligations dof dboth dparties, dthe dinsurer dand dthe dinsured
d- dcorrect danswers d-conditions
the d______ dlist dthe dperils dthat dare dnot dcovered d- dcorrect danswers d-
exclusions
If dthe dInsurer dand dthe dInsured ddisagree dthat dthe dliability dpolicy ddoes dor
ddoes dnot dprovide dcoverage, dthe dclaim dwill dgo dto d_____ d- dcorrect danswers d-
arbitration
in d_____ deach dparty dpays dfor done dand da dhalf dpersons dinvolved d- dcorrect
danswers d-arbitration
in darbitration dthere dare d_____ darbitrators d- dcorrect danswers d-three
the dcancellation dprovisions dare dfound din dthe d________ dsection dof dthe dpolicy
d- dcorrect danswers d-conditions
the dinsured dmust dpromptly dtell dthe dinsurer dabout da d______ d- dcorrect
danswers d-claim
the dother dinsurance dclause dis dalso dknown das dthe d____-____ d_____ d_______
d- dcorrect danswers d-pro-rata dliability dclause
_____-____ ddoes dnot dmean dequal, dit dis dproportionate d- dcorrect danswers d-pro-
rata
the d_____ d_____ d_____ dact dprotects dconsumers dagainst dthe dcirculation dof
dinaccurate dor dobsolete dpersonal dor dfinancial dinformation. d- dcorrect danswers d-
fair dcredit dreporting dact
the d____-____-____ dact drequires dthat da dcustomer dbe dgiven dout da dprivacy
dnotice dat dthe dtime dthe dcustomer drelationship dis dinitially destablished dand
dthereafter dannually. d- dcorrect danswers d-gramm-leach-bliley dact
the d____ d____ dinsurance dact dapplies dto dcommercial dpolicies donly d- dcorrect
danswers d-terrorism drisk dinsurance dact d(TRIA)
the dmain ddifference dbetween dthe dvarious d_____ d_____ dforms dis dthe dproperty
dperils dinsured dagainst d- dcorrect danswers d-dwelling dpolicy d(DP)
, DP dpolicies ddo dnot dcover dpersonal dliability, dalthough dit dcan dbe dadded dby
dadding dan dendorsement dknown das da d_____ d______ d______ dfor dan
dadditional dpremium dcharge d- dcorrect danswers d-personal dliability dsupplement
DP dpolicies dcontain dgeneral dexclusions dfor ddamage ddue dto dwar, dnuclear
dhazard, dand dflood dbut dnot d_____ d- dcorrect danswers d-wind
on da ddwelling dpolicy, dother dstructures dcoverage dwill dapply dto da dstructure
drented dout das da d_____ d_____ d- dcorrect danswers d-private dgarage
DP dpolicies ddo dnot dcover d_______ dof d______ dafter d60 ddays dof dvacancy d-
dcorrect danswers d-breakage dof dglass
DP dpolicies ddo dnot dcover d_____ dof d_____ dunless dthe dheat dwas dleft don d-
dcorrect danswers d-freezing dof dplumbing
the d_____ don dwhich dthe dinsured ddwelling dsits don dis dnot dinsurable d- dcorrect
danswers d-land
_____ d_____, dalso dknown das dthe dautomatic dincrease dendorsement, dmust dbe
dadded dto da dDP dpolicy dby dendorsement d- dcorrect danswers d-inflation dguard
a dloss dfrom drain dor ddust dwould donly dbe dcovered dif dan dopening din dthe
ddwelling d____ dor d____ dwas dfirst dcreated dby dwind dor danother dcovered
dcause dof dloss d- dcorrect danswers d-roof dor dwalls
when da ddwelling dis dcovered dby dmore dthan done dpolicy, dlosses dare dshared
d____-____ dunder dthe dother dinsurance dclause. dthis dmay dalso dbe dreferred dto
dad dthe d_____-____ dliability dclause d- dcorrect danswers d-pro-rata
the dbasic ddwelling dform d__-_ dis da dnamed dor dspecified dperil dpolicy d- dcorrect
danswers d-DP-1
the d__-_ d_____ d____ ddoes dnot dprovide dadditional dliving dexpense dunder
dcoverage dD; donly dfair drental dvalue dis dprovided d- dcorrect danswers d-DP-1
dbasic dform
The dExtended dCoverage dEndorsement dis dadded dto dthe dStandard dFire dPolicy
dto dcreate dthe d__-_ d- dcorrect danswers d-DP-1
a d__-_ d_____ d_____ dpolicy dis dnamed dperils don dboth dthe ddwelling dand dthe
dcontents d- dcorrect danswers d-DP-2 dbroad dform
on dthe ddwelling dbroad dform dDP-2 dbuilding dstructures d(Coverages dA dand dB)
dare dwritten dwith dan d____% dcoinsurance drequirement d- dcorrect danswers d-80%
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