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Property and Casualty Insurance Licensing Exam Questions and answers, 100% Approved predictor Quizzes. $9.49   Add to cart

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Property and Casualty Insurance Licensing Exam Questions and answers, 100% Approved predictor Quizzes.

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Property and Casualty Insurance Licensing Exam Questions and answers, 100% Approved predictor Quizzes. To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - -An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to ...

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  • February 3, 2023
  • 16
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
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Property and Casualty Insurance
Licensing Exam Questions and answers,
100% Approved predictor Quizzes.


To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - ✔✔-An
Other Insurance Clause



Collision coverage of an auto policy covers:

a) road damage to the tires

b) upset of the vehicle

c) frozen engine block

d) falling objects - ✔✔-B) upset of the vehicle



The maximum amount of payable for all losses resulting from one event is known as the:

a) occurrence limit

b) aggregate limit - ✔✔-a) occurrence limit



Which of the following is a cause of loss form?

a) declarations form

b) proof of loss form

c) garage keepers' form

d) basic form - ✔✔-d) Basic form



The minimum flood deductible is:

a) $100

b) $250

,c) $500

d) $1000 - ✔✔-c) $500



The insured intentionally did not inform the insurer that the insured owned only 35% of the property.
The insurer can void the policy for:

a) conditional coverage

b) misrepresentation

c) error

d) concealment - ✔✔-d) concealment



Which of the following is NOT a defense against negligence?

a) contributory negligence

b) statues of limitations

c) presumption of negligence

d) assumption of risk - ✔✔-c) presumption of negligence



The presumed authority necessary to carry out the producer's routine tasks is known as:

a) expressed authority

b) implied authority - ✔✔-b) implied authority



Which of the following statements regarding the Towing and Labor endorsement is false?

a) it will pay to the limit stated in the endorsement each time a covered vehicle is disabled

b) there is no coverage for roadside labor costs

c) there is no deductible

d) none of the above - ✔✔-b) there is no coverage for roadside labor costs



A licensee may violate federal law and be subject to a fine and prison for doing which of the following?

a) selling insurance w/ a nonresident license

b) sending threatening letters to the state insurance regulator

, c) fraudulently telling an insured a claim isn't covered on the policy

d) murdering an applicant - ✔✔-b) sending threatening letters to the state insurance regulator



Which of the following is not an insured location for liability coverage under the homeowners policy?

a) a restaurant party room the insured has rented for a business meeting

b) the insured's cemetery plot

c) a restaurant party room the insured has rented for a birthday party

d) vacant land owned by the insured - ✔✔-a) a restaurant party room the insured has rented for a
business meeting



Special covers each of the following EXCEPT:

a) theft

b) mysterious disappearance

c) Acts of God

d) floods and earthquakes - ✔✔-d) floods and earthquakes



Sam has underinsured motorist coverage with limits of $100/$300. Sam is injured by Quincy who has
limits of $50/$100. Sam's injuries are valued at $125,000. Sam's underinsured motorist coverage will
pay;

a) $25,000

b) $50,000

c) $75,000

d) $125,000 - ✔✔-b) $50,000



The contract agreement may be referred as the:

a) legal interest test

b) good faith

c) meeting of the minds

d) promise of indemnification - ✔✔-c) meeting of the minds

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