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XCEL SOLUTIONS PROPERTY & CASUALTY EXAM QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS GRADED A+ R189,03
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XCEL SOLUTIONS PROPERTY & CASUALTY EXAM QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS GRADED A+
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XCEL SOLUTIONS PROPERTY & CASUALTY EXAM QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS GRADED A+ An earned premium resulting from the cancellation of a policy is calculated on: On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will co...

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  • May 13, 2024
  • 17
  • 2023/2024
  • Exam (elaborations)
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  • xcel solutions property casualty exam questions

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XCEL SOLUTIONS PROPERTY & CASUALTY EXAM

QUESTIONS WITH COMPLETE 100% VERIFIED

SOLUTIONS GRADED A+

An earned premium resulting from the cancellation of a policy is calculated on:

On a pro rata basis, based on the previous year's rate

M owns a parking garage & has coverage that states: "We will cover losses

regardless if you are legally liable for the loss." This no-fault ideology will be

found under:

Excess Direct Coverage

An insurance company writing business in a state other than the one in which it

is domiciled is called:

a Foreign

Y is running a home daycare out of their home & has just earned $50,000 in her

first year of business. Under an HO policy, Y's daycare is defined as:

Not a business

Underwriting guards against

Adverse Selection

A licensee whose name or address changes must notify the Dept of Insurance

within _____ days:

,30 Days

Assumption of risk:

States that a party will not collect damages because they should have known what they

were doing was risky

Under a DP-2 Broad form, which of the following is not a Broad peril?

Vandalism

Which of the following incidents would not be excluded under a DP-3 policy?

Burglary of a property that was vacant for 30 consecutive days

Which of the following are losses excluded under Coverage F?

An individual who is eligible to receive disability insurance

Which of the following will not provide a premium discount from standard market

workers comp insurance?

Assigned Risk Plan

The face amount of a Surety bond is called the:

Penalty

M has opened up his business, Tractors & Semis Sales, LLC. His stock will be

covered while it is being transported, if he:

Adds the equipment dealers floater

All of the following are correct about the Commercial Endorsement regarding

Spoilage EXCEPT:

Coverage extends to stock off premises

What is a certificate of authority?

The license required for an insurer to conduct business in the state

, A licensed producer who lives in another state & transacts insurance in AZ is

called:

A Non-Resident Producer

Any of the following may be an unfair claims settlement practice EXCEPT:

Refusing to pay persons bringing false or fraudulent claims

What is the best description of an applicant to the AZ auto insurance plan?

An applicant in good-faith entitled to coverage but unable to obtain coverage through

ordinary methods

Which statement regarding the identification of the producer rule is false?

A policy is invalidated if the producer is not identified as required by law

If an insured's dog bites a guest that results in a settlement amount of $150,000

plus attorney fees of $70,000. How much is the insured personally responsible to

pay if their homeowners policy Coverage E amount was $100,000?

$50,000

J has a policy that pays a maximum single dollar amount for property damage &

death or bodily injury. Which Limit of Liability does J's policy have?

Combined Single Limit

E is a professional musician who owns a vintage guitar with a current value of

$20,000. E should properly insure this guitar with a(n):

Personal Articles Floater

For policyholders in the same risk classification, it is unlawful to:

Charge different premiums

All of the following are main elements of a commercial package policy, EXCEPT:

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