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1
Property and Casualty Insurance Questions
and Answers (100% Correct Answers) Already
Graded A+
An organization that writes liability insurance to cover the liability
exposure for the mining engineers that belong to its associations is:Ans: A
Risk Retention Group
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Which of the following parties may assign a standard property
policy?Ans: The insurer with prior written permission of the insurer
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The Difference in Conditions Policy is a special form used to fill in gaps of
a property policy. Which of the following is true regarding this
policy?Ans: It is generally written on an open perils basis, excluding losses
by perils that are covered under standard property forms
Under Part A of a Personal Auto policy, which of the following losses
would be covered?Ans: Damage to a neighbor's parked car
Assumption of RiskAns: Not an element of negligence
Which of the following coverages is not provided by the Personal Liability
Supplement?Ans: Medical payments to a regular resident of the dwelling
who sustains an injury
Truckers Coverage FormAns: Covers business exposures of motor carriers
for hire who transport the goods of others, rather than its own goods.
,For Expert help and assignment handling,
2
Under a Homeowners policy, how much coverage is provided for theft
or unauthorized use of a credit or debit card?Ans: 500
Valuation ClauseAns: A condition under a Building and Personal Property
Coverage Form that determines how losses will be paid?
Discovery FormAns: A crime for that requires the use of a Retroactive
Date
© 2026 Assignment Expert
The Farm Liability Policy WOULD NOT cover?Ans: A neighbor who is
accidentally hurt on the insured's farm makes a claim for medical
payments 4 years after suffering injury
Guru01 - Stuvia
False AdvertisingAns: It is an unfair trade practice to present any
information that is misleading about any insurer in the conduct of their
insurance business.
The Personal Liability endorsement DOES NOT provide coverage for
which of the following?Ans: Injury caused to a regular resident of the
dwelling.
The Additional Coverages part of a property insurance policy
provides:Ans: Coverage automatically included in the policy to
supplement the basic coverages in the Insuring Agreement without an
additional premium
Premises liability exposureAns: Not a contingent liability exposure
Part D of the Personal Auto Policy provides which of the following
coverages?Ans: Coverage for Damage to Your Auto
,For Expert help and assignment handling,
3
Which statement about the Builders Risk form is NOT correct?Ans:
Coverage is always written on an open peril basis
Which of the following statements about a property policy is false?Ans:
The purpose of coinsurance is to have the insure retain part of the risk
A Broad Form Homeowners policy would NOT cover which of the
following losses?Ans: Water damage to personal property stored in the
basement after a sump pump overflows
© 2026 Assignment Expert
Insureds under Part C - Uninsured Motorists Coverage of a Personal Auto
policy include:Ans: A family member, occupying an insured auto struck
by an uninsured vehicle
Guru01 - Stuvia
Combined single limitsAns: The policy liability limits that may be applied
to either bodily injury or property damage, in any combination
Which of the following is NOT one of the limits of liability provided by the
CGL?Ans: Bodily injury limit
A person operating a motor vehicle who is not able to provide current
proof of financial responsibility in the vehicle when requested by a
Nebraska law enforcement officer is allowed _____ days to prove that
financial responsibility was in effect at the time of the request.Ans: 10
Which coverage is NOT an Additional Coverage under the
Businessowners Coverage Form?Ans: Equipment breakdown
Section II of a Homeowners policy may cover which of the following
incidents?Ans: Bodily injury to a stranger, caused by an insured's
activities while picnicking at a city park
, For Expert help and assignment handling,
4
The insured is part of a homeowners association. After a property loss to
the common area owned by all of the association's members, the
insured is assessed $1,500 for the damages. The insured's Homeowners
policy will provide:Ans: $1,000 of coverage
All of the following must be listed on Form MCS-90, except:Ans: The
policy premium amount
Which of the following is true regarding Personal Inland Marine
Insurance?Ans: Since moveable property is also known as floating
© 2026 Assignment Expert
property, the policies are sometimes known as floater policies
The Commercial basic Cause of Loss Form DOES NOT cover which of the
Guru01 - Stuvia
following perils?Ans: Earth Movement
Which of the following is NOT an Optional Coverage under the
Businessowners Policy?Ans: Personal property of others that is in the
insured's care, custody and control
Which statement about the BOP's Hired Auto and Non-owned Auto
endorsement is correct?Ans: Business auto coverage for a vehicle the
insured rents is added to the coverage
It is prohibited for an agent to include in the sum charged for a policy
any fee, compensation, or charge that is not specified in the policy. This
is an unfair trade practice referred to as:Ans: Nondisclosure of fees
Under the Nebraska's Workers' Compensation Plan, assignments may not
exceed:Ans: 5 years
1
Property and Casualty Insurance Questions
and Answers (100% Correct Answers) Already
Graded A+
An organization that writes liability insurance to cover the liability
exposure for the mining engineers that belong to its associations is:Ans: A
Risk Retention Group
© 2026 Assignment Expert
Which of the following parties may assign a standard property
policy?Ans: The insurer with prior written permission of the insurer
Guru01 - Stuvia
The Difference in Conditions Policy is a special form used to fill in gaps of
a property policy. Which of the following is true regarding this
policy?Ans: It is generally written on an open perils basis, excluding losses
by perils that are covered under standard property forms
Under Part A of a Personal Auto policy, which of the following losses
would be covered?Ans: Damage to a neighbor's parked car
Assumption of RiskAns: Not an element of negligence
Which of the following coverages is not provided by the Personal Liability
Supplement?Ans: Medical payments to a regular resident of the dwelling
who sustains an injury
Truckers Coverage FormAns: Covers business exposures of motor carriers
for hire who transport the goods of others, rather than its own goods.
,For Expert help and assignment handling,
2
Under a Homeowners policy, how much coverage is provided for theft
or unauthorized use of a credit or debit card?Ans: 500
Valuation ClauseAns: A condition under a Building and Personal Property
Coverage Form that determines how losses will be paid?
Discovery FormAns: A crime for that requires the use of a Retroactive
Date
© 2026 Assignment Expert
The Farm Liability Policy WOULD NOT cover?Ans: A neighbor who is
accidentally hurt on the insured's farm makes a claim for medical
payments 4 years after suffering injury
Guru01 - Stuvia
False AdvertisingAns: It is an unfair trade practice to present any
information that is misleading about any insurer in the conduct of their
insurance business.
The Personal Liability endorsement DOES NOT provide coverage for
which of the following?Ans: Injury caused to a regular resident of the
dwelling.
The Additional Coverages part of a property insurance policy
provides:Ans: Coverage automatically included in the policy to
supplement the basic coverages in the Insuring Agreement without an
additional premium
Premises liability exposureAns: Not a contingent liability exposure
Part D of the Personal Auto Policy provides which of the following
coverages?Ans: Coverage for Damage to Your Auto
,For Expert help and assignment handling,
3
Which statement about the Builders Risk form is NOT correct?Ans:
Coverage is always written on an open peril basis
Which of the following statements about a property policy is false?Ans:
The purpose of coinsurance is to have the insure retain part of the risk
A Broad Form Homeowners policy would NOT cover which of the
following losses?Ans: Water damage to personal property stored in the
basement after a sump pump overflows
© 2026 Assignment Expert
Insureds under Part C - Uninsured Motorists Coverage of a Personal Auto
policy include:Ans: A family member, occupying an insured auto struck
by an uninsured vehicle
Guru01 - Stuvia
Combined single limitsAns: The policy liability limits that may be applied
to either bodily injury or property damage, in any combination
Which of the following is NOT one of the limits of liability provided by the
CGL?Ans: Bodily injury limit
A person operating a motor vehicle who is not able to provide current
proof of financial responsibility in the vehicle when requested by a
Nebraska law enforcement officer is allowed _____ days to prove that
financial responsibility was in effect at the time of the request.Ans: 10
Which coverage is NOT an Additional Coverage under the
Businessowners Coverage Form?Ans: Equipment breakdown
Section II of a Homeowners policy may cover which of the following
incidents?Ans: Bodily injury to a stranger, caused by an insured's
activities while picnicking at a city park
, For Expert help and assignment handling,
4
The insured is part of a homeowners association. After a property loss to
the common area owned by all of the association's members, the
insured is assessed $1,500 for the damages. The insured's Homeowners
policy will provide:Ans: $1,000 of coverage
All of the following must be listed on Form MCS-90, except:Ans: The
policy premium amount
Which of the following is true regarding Personal Inland Marine
Insurance?Ans: Since moveable property is also known as floating
© 2026 Assignment Expert
property, the policies are sometimes known as floater policies
The Commercial basic Cause of Loss Form DOES NOT cover which of the
Guru01 - Stuvia
following perils?Ans: Earth Movement
Which of the following is NOT an Optional Coverage under the
Businessowners Policy?Ans: Personal property of others that is in the
insured's care, custody and control
Which statement about the BOP's Hired Auto and Non-owned Auto
endorsement is correct?Ans: Business auto coverage for a vehicle the
insured rents is added to the coverage
It is prohibited for an agent to include in the sum charged for a policy
any fee, compensation, or charge that is not specified in the policy. This
is an unfair trade practice referred to as:Ans: Nondisclosure of fees
Under the Nebraska's Workers' Compensation Plan, assignments may not
exceed:Ans: 5 years
