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Pearson Vue State Insurance Questions/Topics: Part 1 Questions With Complete Solutions
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Pearson Vue State Insurance Questions/Topics: Part 1 Questions With Complete Solutions
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Pearson Vue State Insurance Questions/Topics: Part 1Questions With Complete Solutions
A boat is attached to the back of the insured's pickup truck.
While backing, the insured backs into a tree causing damage to
the tree and boat. What would be covered by the boat policy?
a. Boat damage only
b. Damage to the tree
c. Nothing
d. Both boat damage and damage to the tree Correct Answer
Boat damage only
A condominium unit owner would get which policy?
HO-8
HO-4
HO-3
HO-6 Correct Answer HO-6
A producer must renew their license every:
1 year
2 years
3 years
5 years Correct Answer 2 years
A proof of loss must be submitted within:
10 days
20 days
,30 days
60 days Correct Answer 60 days
A risk is best defined as:
a. Uncertainty of loss
b. Cause of loss
c. Amount of loss
d. Increased chance of loss Correct Answer Uncertainty of loss
A stair at your home with no handrail would best describe:
Peril
Loss
Hazard
Risk Correct Answer Hazard
A surplus lines producer must pay a gross tax twice a year. Who
do they pay this money to?
a. Department of Insurance
b. Department of Revenue
c. IRS
d. NAIC Correct Answer Department of Insurance
A tenant with broad perils for personal property would have
which policy?
HO-8
HO-3
HO-4
, HO-5 Correct Answer HO-4
All of the following are included in a notice of claim except:
a. Inventory of damaged property
b. Adjuster reports
c. Description of the loss
d. Protecting property from further loss Correct Answer
Adjuster reports
All of the following are settlement options of a PAF except:
a. ACV
b. Stated Amount
c. Salvage Value
d. Cost to repair or replace the property Correct Answer
Salvage Value
An insurance company must be examined by the state insurance
department once every:
Year
2 years
3 years
5 years Correct Answer 5 years
Any administrative action must be reported within how many
days to the state?
a. 10 days
b. 20 days
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