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Exam Fx-Property and Casualty Exam | 90 Questions and Answers 100% correct
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Exam Fx-Property and Casualty Exam | 90 Questions and Answers 100% correct
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Exam Fx -Property and Casualty Exam | 90 Questions and Answers 100% corr ect To be considered an insurable risk, a loss may NOT be - Answer catastrophic Which of the following persons would be required to hold a producer license? - Answer a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - Answer ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? - Answer the difference in the actual cash value as a pair and as a single Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling policies? - Answer internal explosion When would a misrepresentation on the insurance application be considered fraud? - Answer If it is intentional and material A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as the - Answer penalty In insurance, an offer is usually made when - Answer the application is submitted All of the following actions by a producer may be grounds for license revocation or non -renewal EXCEPT - Answer participating in controlled business In personal auto policies, the term "you" refers to - Answer the named insured Business personal property coverage form covers all of the following except: - Answer automobiles held for sale in dwelling policies, automatic increase in insurance is - Answer coverage by endorsement To be eligible for businessowners policy (BOP) coverage, an office building CANNOT be higher than - Answer 6 stories Elaborate homes with replacement costs greater than ACV or market value are insured on the - Answer HO-8 Form Which of the following dwelling coverage forms would pay replacement cost for the dwelling? - Answer DP-2 and DP -3 Business personal property coverage insures property out in the open if it is - Answer Within 100 feet of the described premises A runaway shopping cart injures a customer in a supermarket's parking lot. Coverage for this claim would be provided under - Answer premises and operations Which of the following businesses would be eligible for a businessowners policy? - Answer Hill & Morton Funeral Home The designation symbols used in commercial auto policies can be found in which policy section? - Answer covered auto Which of the following is used in the formula for calculating the actual cash value (ACV) of a property? - Answer replacement cost What type of bond guarantees that the principal will complete the contract as agreed upon? - Answer performance bondThe benefits of buying summaries with Stuvia:
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