Xcel Solutions Property & Casualty Exam Questions with 100% Correct Answers Latest Graded A+

Xcel Solutions Property & Casualty Exam Questions with 100%
Correct Answers Latest Graded A+


Question:
An earned premium resulting from the cancellation of a policy is calculated on:
Answer:
On a pro rata basis, based on the previous year's rate


Question:
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:
Answer:
Excess Direct Coverage


Question:
An insurance company writing business in a state other than the one in which it is domiciled is
called:
Answer:
a Foreign


Question:
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:
Answer:
Not a business


Question:
Underwriting guards against
Answer:
Adverse Selection


Question:

,A licensee whose name or address changes must notify the Dept of Insurance within days:
Answer:
30 Days


Question:
Assumption of risk:
Answer:
States that a party will not collect damages because they should have known what they were doing
was risky


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


Question:
Which of the following incidents would not be excluded under a DP-3 policy?
Answer:
Burglary of a property that was vacant for 30 consecutive days


Question:
Which of the following are losses excluded under Coverage F?
Answer:
An individual who is eligible to receive disability insurance


Question:
Which of the following will not provide a premium discount from standard market workers comp
insurance?
Answer:
Assigned Risk Plan


Question:
The face amount of a Surety bond is called the:

, Answer:
Penalty


Question:
M has opened up his business, Tractors & Semis Sales, LLC. His stock will be covered while it is
being transported, if he:
Answer:
Adds the equipment dealers floater


Question:
All of the following are correct about the Commercial Endorsement regarding Spoilage EXCEPT:
Answer:
Coverage extends to stock off premises


Question:
What is a certificate of authority?
Answer:
The license required for an insurer to conduct business in the state


Question:
A licensed producer who lives in another state & transacts insurance in AZ is called:
Answer:
A Non-Resident Producer


Question:
Any of the following may be an unfair claims settlement practice EXCEPT:
Answer:
Refusing to pay persons bringing false or fraudulent claims


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