1|Page
ACA FINAL ACTUAL EXAM PREP 2026 ALL
QUESTIONS AND CORRECT DETAILED
ANSWERS ALREADY A GRADED WITH EXPERT
FEEDBACK |NEW AND REVISED
Which of the following is false concerning flood insurance?
A community applies for flood coverage and during this time, it is in the
"emergency program."
To be insured for flood, a new building only must have the walls up.
Two acres must be inundated with water - flooded.Loss to a detached
garage would be settled on an actual cash value basis. - ANSWER- To
be insured for flood, a new building only must have the walls up.
All of the following are EXCLUSIONS under a personal articles floater
(Personal Inland Marine Policy) EXCEPT:
Theft
Deterioration of insured article
Inherent vice - destruction contained within the object
Losses caused by vermin or insects - ANSWER- Theft
Condominiums may be covered by both an Association (Commercial
Condo) Policy and a Unit Owners' (Homeowners) Policy, which of the
following is true?
,2|Page
The Unit Owners' Policy is primary and the Association Policy is excess
The Association Policy is primary and the Unit Owners' Policy is excess
There never would be both an Association Policy and a Unit Owner's
Policy on the same property at the same time
None of the above statements are true - ANSWER- The Association
Policy is primary and the Unit Owners' Policy is excess
A claimant ate some undercooked fish and got violently ill at the
restaurant. Which of the following would pay for this occurrence?
A products and completed operations form
A premises and operations form
An owner's and contractor's protective liability form
A liquor liability form - ANSWER- A premises and operations form
Which of the following are covered exposures for bodily injury and
property damage under the CGL (Commercial General Liability) Policy:
Products and completed operations
Contractual Liability
Contingent Liability
All of the above are available in the CGL policy - ANSWER- All of the
above are available in the CGL policy
,3|Page
Under a CGL Occurrence liability form, which policy would cover an
accident that occurred June 1, 1998, and was discovered and reported
July 15, 2008:
A policy dated 1/1/98 to 12/31/98
A policy dated 1/1/99 to 12/31/99
A policy dated 1/1/08 to 12/31/08
No policy would cover a claim filed in 2008 for an accident in 1998 -
ANSWER- A policy dated 1/1/98 to 12/31/98
A furniture manufacturing business wanted to serve free beer at its
company picnic. What is required for this business to have liability
coverage for liquor consumption at the picnic?
The business CGL policy will cover this exposure
The business CGL requires the liquor liability form in this case
The business CGL should have the "extension of coverage"
endorsementThere is no way liability for alcoholic beverages can be
included under CGL - ANSWER- The business CGL policy will cover
this exposure
Insurance agents and adjusters may have their professional activities
covered under a type of liability insurance called:
, 4|Page
Owners Protective LiabilityEmployment Related Practices
LiabilityMalpractice LiabilityErrors and Omissions Liability -
ANSWER- Errors and Omissions Liability
The following are employees who must have workers compensation
EXCEPT:
Government employees
Pro athletes
Construction industry workers in companies with 1 employee
Private employers with 4 or more employees - ANSWER- Pro athletes
All the following are components of the Workers Compensation
EXCEPT:
Unlimited death benefits
Reimbursement for medical expenses incurred
Replacement for lost wages on a percentage basis
Funeral costs up to $7500 - ANSWER- Unlimited death benefits
What is the limit on medical benefits under Workers Compensation?
66 2/3 % of medical costs
All medical costs with no limit
ACA FINAL ACTUAL EXAM PREP 2026 ALL
QUESTIONS AND CORRECT DETAILED
ANSWERS ALREADY A GRADED WITH EXPERT
FEEDBACK |NEW AND REVISED
Which of the following is false concerning flood insurance?
A community applies for flood coverage and during this time, it is in the
"emergency program."
To be insured for flood, a new building only must have the walls up.
Two acres must be inundated with water - flooded.Loss to a detached
garage would be settled on an actual cash value basis. - ANSWER- To
be insured for flood, a new building only must have the walls up.
All of the following are EXCLUSIONS under a personal articles floater
(Personal Inland Marine Policy) EXCEPT:
Theft
Deterioration of insured article
Inherent vice - destruction contained within the object
Losses caused by vermin or insects - ANSWER- Theft
Condominiums may be covered by both an Association (Commercial
Condo) Policy and a Unit Owners' (Homeowners) Policy, which of the
following is true?
,2|Page
The Unit Owners' Policy is primary and the Association Policy is excess
The Association Policy is primary and the Unit Owners' Policy is excess
There never would be both an Association Policy and a Unit Owner's
Policy on the same property at the same time
None of the above statements are true - ANSWER- The Association
Policy is primary and the Unit Owners' Policy is excess
A claimant ate some undercooked fish and got violently ill at the
restaurant. Which of the following would pay for this occurrence?
A products and completed operations form
A premises and operations form
An owner's and contractor's protective liability form
A liquor liability form - ANSWER- A premises and operations form
Which of the following are covered exposures for bodily injury and
property damage under the CGL (Commercial General Liability) Policy:
Products and completed operations
Contractual Liability
Contingent Liability
All of the above are available in the CGL policy - ANSWER- All of the
above are available in the CGL policy
,3|Page
Under a CGL Occurrence liability form, which policy would cover an
accident that occurred June 1, 1998, and was discovered and reported
July 15, 2008:
A policy dated 1/1/98 to 12/31/98
A policy dated 1/1/99 to 12/31/99
A policy dated 1/1/08 to 12/31/08
No policy would cover a claim filed in 2008 for an accident in 1998 -
ANSWER- A policy dated 1/1/98 to 12/31/98
A furniture manufacturing business wanted to serve free beer at its
company picnic. What is required for this business to have liability
coverage for liquor consumption at the picnic?
The business CGL policy will cover this exposure
The business CGL requires the liquor liability form in this case
The business CGL should have the "extension of coverage"
endorsementThere is no way liability for alcoholic beverages can be
included under CGL - ANSWER- The business CGL policy will cover
this exposure
Insurance agents and adjusters may have their professional activities
covered under a type of liability insurance called:
, 4|Page
Owners Protective LiabilityEmployment Related Practices
LiabilityMalpractice LiabilityErrors and Omissions Liability -
ANSWER- Errors and Omissions Liability
The following are employees who must have workers compensation
EXCEPT:
Government employees
Pro athletes
Construction industry workers in companies with 1 employee
Private employers with 4 or more employees - ANSWER- Pro athletes
All the following are components of the Workers Compensation
EXCEPT:
Unlimited death benefits
Reimbursement for medical expenses incurred
Replacement for lost wages on a percentage basis
Funeral costs up to $7500 - ANSWER- Unlimited death benefits
What is the limit on medical benefits under Workers Compensation?
66 2/3 % of medical costs
All medical costs with no limit
