PROPERTY AND CASUALTY INSURANCE LICENSING Actual EXAM Questions and Answers (2024 / 2025) | 100% Correct Verified Graded A+
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Course
Property and Casualty Insurance
Institution
Property And Casualty Insurance
PROPERTY AND CASUALTY INSURANCE LICENSING Actual EXAM Questions and Answers (2024 / 2025) | 100% Correct Verified Graded A+
To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - CORRECT An Other Insurance Clause
Collision coverage of an auto policy cov...
PROPERTY AND CASUALTY
INSURANCE LICENSING Actual EXAM
Questions and Answers () |
100% Correct Verified Graded A+
To prevent recovery beyond the amount of the insured's actual loss, the policy will
contain: - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT d) Basic form
,The minimum flood deductible is:
a) $100
b) $250
c) $500
d) $1000 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT a) a restaurant party room the
insured has rented for a business meeting
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