Texas Insurance Practice Exam with 100% correct answers

Subrogration may follow which of the following events? correct answersAn insured collects from her insurance company for damages caused by a third party Medical payments coverage under a BOP applies to expenses incurred by non-insureds for bodily injury and reported to the insurer within: correct answersOne year after the accident Claims expenses covered under Section II - Personal Liability of the standard Homeowners forms do NOT pay for which of the following? correct answersLoss of the insured's earnings subject to a pre-determined limit of $300 per day Which statement best describes "defense" coverage under the Section II - Liability coverage of the Businessowners policy? correct answersDefense costs are not subject to a limit Under an aircraft policy what is NOT a covered territory usually covered (unless endorsed) while the aircraft is in flight? correct answersCosta Rico Under a standard Equipment Breakdown policy, the full replacement cost will be paid on the claim, if the equipment is repaired within what time period following the loss? correct answers24 months When a licensee in Texas receives an inquiry from the Insurance Department regarding their insurance transactions, he or she must respond in writing: correct answersNot later than the 15th day after the date the inquiry is received The sprinkler leakage coverage of a Commercial Property form does not provide coverage for: correct answersdamage to growing crops from malfunctioning sprinklers Under the appraisal clause in a commercial inland form, which of the following is true? correct answersthe insurer still retains its right to deny the claim entirely