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ARKANSAS PROPERTY AND CASUALTY EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) / ALREADY GRADED A+$18.49
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ARKANSAS PROPERTY AND CASUALTY EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) / ALREADY GRADED A+
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Course
ARKANSAS PROPERTY AND CASUALTY 2024
Institution
ARKANSAS PROPERTY AND CASUALTY 2024
ARKANSAS PROPERTY AND CASUALTY EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) / ALREADY GRADED A+
ARKANSAS PROPERTY AND CASUALTY
EXAM 2024 ACTUAL EXAM 2 VERSIONS
(VERSION A AND B) COMPLETE 500
QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /
ALREADY GRADED A+
When an insurance policy is cancelled by the
insured, the premium is usually refunded on a: -
....ANSWER...Short Rate Basis
A company licensed in Arkansas, incorporated in
Argentina, and owned by investors, who may or not
be the policyholders is called: - ....ANSWER...An Alien
Company, Admitted Insurer, and Stock
Actual cash value is most often defined as which of
the following options? - ....ANSWER...Replacement
cost less depreciation:
,2|Page
The clause under which disputes about loss
settlements is covered is called: - ....ANSWER...The
Appraisal Clause
Which of the following vehicles is considered a
temporary substitute under a Personal (Family) Auto
Policy? - ....ANSWER...An auto rented by an insured
when the insured's car is in a garage for repairs.
Giving something of value as an inducement to buy a
policy, other than the policy itself is called: -
....ANSWER...Rebating
Which statement is correct concerning the Arkansas
Valued Policy Law? - ....ANSWER...It only applies to
total loss of the building.
The garage liability coverage form of the CPP may
provide coverage for all of these. -
....ANSWER...Premises Liability; Bailee Coverage;
Physical damage covered for the insured's vehicle
A general penalty for violating the state insurance
code is: - ....ANSWER...A fine of $60 to $1000 and/or
your license
,3|Page
Which type of coverage gives one policy amount for
all locations? - ....ANSWER...Blanket Coverage
A fire in an insured's restaurant burns the kitchen
walls and causes smoke damage to the entire
interior. Water used to extinguish the fire causes
extensive damage to the floors and furnishings. The
water damage is BEST described as: - ....ANSWER...A
direct loss.
All of the following are among the powers and duties
of the Insurance Commissioner except: -
....ANSWER...Making new insurance laws.
After an insurance agent's property/casualty license
is issued, a licensee must complete how many hours
of approved continuing educatoin courses every two
years? - ....ANSWER...24
Which of the following losses would be covered by
Comprehensive Personal Liability? - ....ANSWER...The
insured runs over a caddy with his golf mobile.
, 4|Page
Which of the following liability coverages may
require the insured's consent before the insurance
comnpany settles and pays a loss? -
....ANSWER...Professional
Which policy part does not apply to Section II of a
Homeowner's policy? - ....ANSWER...Perils insured
against.
A contract in which there is an act for a promise is
referred to as: - ....ANSWER...Offer and Acceptance
The Commissioner of Insurance: -
....ANSWER...Appointed for a four year term.
Inland Marine insurance is commonly used to insure
all of the following items EXCEPT: -
....ANSWER...Automobiles
Which of the following is an optional coverage on
S.M.P? - ....ANSWER...Boiler and Machinery
Automobile limits of liability expressed as
$25,000/$50,000/$25,000 means: -
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