Examfx practice test Latest Update 2024-2025
Actual Exam 100 Questions and 100% Verified
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A building is insured, but no one has lived or worked in it for 10 years. The building is
completely empty of any furniture or personal belongings. From an Insurance
standpoint, the building is considered. - CORRECT ANSWER: Vacant
A deli owner has a businessowners liability policy. When a customer slipped and hurt
herself at the deli, the liability policy paid for medical expenses. The customer, however,
is now suing the business owner because she claims there was no caution sign warning
her that the floor was wet. What is the insurer obligated to do. - CORRECT ANSWER:
Pay to defend the policy owner in the lawsuit because liability coverage contains a duty-
to-defend provision
A Nonadmitted insurer who provides insurance coverages that are not available form an
admitted insurer is called - CORRECT ANSWER: Surplus lines insurer
A parking garage owner completed major renovations to a parking garage just prior to
selling it to another company. Three months later, overhead concrete fell on to cars in
the second floor level. Under the garage coverage policy conditions, which of the
following is true? - CORRECT ANSWER: The damage occurred when the concrete fell
A policyholder has an equipment breakdown policy with a $200,000 limit, If a boiler
expolision causes $100,000 damages to the boiler itself, damage to the insured's
building, and $30,000 of expediting expenses, how much will the insured collect under
the policy? - CORRECT ANSWER: $175,000
A producer has been notified by the commissioner to stop using an unapproved trade
name. How many days does the producer have to change the trade name before facing
a fine? - CORRECT ANSWER: 10 days
A restaurant is out of business for 3 days after an insured's automobile hits and
electrical pole. The pole fails and hits the building, knocking out all electrical power
, supply. Which of the following is NOT covered under the insured driver's auto policy? -
CORRECT ANSWER: Lost revenues from the restaurant
A specific coverage part is listed on the commercial package policy declerations page,
but there is no premium shown. What does that mean, - CORRECT ANSWER: There is
no coverage.
A Standard Fire Policy may be written to cover all of the following EXCEPT - CORRECT
ANSWER: Reinsurance
A temporary license in this state is valid for - CORRECT ANSWER: 180 days
A unique feature in a bilee form is that it covers - CORRECT ANSWER: Customer's
property whether or not the insured has been negligent
According to the doctrine of contributory negligence, when an individual is found to have
contributed to his or her own loss in any way, another party - CORRECT ANSWER: may
not be held liable
All of the following are other coverages included in both the broad and special form
dwelling policy EXCEPT: - CORRECT ANSWER: Theft of personal Property
All of the following are supplemental payments included in the liability section of a
personal auto policy EXCEPT - CORRECT ANSWER: up to $100 for the cost to secure
the release of a vehicle from an impoundment lot following a covered accident
An apartment occupant's personal property would be insured under which homeonwers
form? - CORRECT ANSWER: Tenant broad form (HO-4)
An automobile liability insurance policy, in addition to providing coverage to the insured
while within the state of Louisiana, must provide coverage for operating the vehicle in all
of the following states EXCEPT: - CORRECT ANSWER: Cuba
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