Mastery Exam 2026 Exam
Questions and Answers |
Already Graded A+
An Insurance company may examine and audit an insured's books and
records for up to...
a. 5 years
b. 3 years
c. 4 years
d. 8 years - ANSWER ✔✔b. 3 years
Under the building and personal property coverage form, the duties in
the event of loss condition states that after a loss, the insured must send
a signed, sworn statement to the insurance company within...
,a. 90 days
b. 60 days
c. 30 days
d. 45 days - ANSWER ✔✔c. 30 days
The golf shop, located at the golf course, is open all year. However, the
highest levels of inventory are carried between May and September.
What is the best way to insure the increase in coverage for those
months?
a. value reporting form
b. peak season endorsement
blanket policy
business income and extra expense endorsement - ANSWER ✔✔b.
peak season endorsement
Restaurants and bars present a risk exposure for bodily injury and
property damage for which the insured may become liable as a result of
contributing to a person's intoxication. The coverage these businesses
require is...
a. commercial general liability
b. liquor liability insurance
,c. premises liability insurance
d. products liability insurance - ANSWER ✔✔b. liquor liability
insurance
If an insurer violates any section of the insurance code, what can the
Commissioner issue to stop the insurer from committing the violation?
a. notice of a hearing
b. cease and desist order
c. suspension order
d. notice of violation - ANSWER ✔✔b. cease and desist
which of the following coverages is included in the homeowners policy
but is not included in an unendorsed dwelling policy?
a. other structures
b. dwelling
c. personal property
d. liability - ANSWER ✔✔d. liability
which of the following commercial general liability coverages would
protect a policyholder from assumed liability under a construction
contract to install water lines for a city?
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, a. completed operations
b. premises liability
c. contractual liability
d. independent contractors - ANSWER ✔✔c. contractual liability
commercial umbrella liability policies provide coverage...
a. when the underlying contract has been nonrenewed
b. when a loss is excluded under the underlying policy but not excluded
under the umbrella
c. only for a commercial auto liability
d. for usual and everyday types of exposures - ANSWER ✔✔b. when
a loss is excluded in the underlying policy but not excluded under the
umbrella
all of the following perils are covered under the basic commercial
property causes of loss form except...
a. falling objects
b. vandalism
c. fire
d. sprinkler leakage - ANSWER ✔✔a. falling objects
Questions and Answers |
Already Graded A+
An Insurance company may examine and audit an insured's books and
records for up to...
a. 5 years
b. 3 years
c. 4 years
d. 8 years - ANSWER ✔✔b. 3 years
Under the building and personal property coverage form, the duties in
the event of loss condition states that after a loss, the insured must send
a signed, sworn statement to the insurance company within...
,a. 90 days
b. 60 days
c. 30 days
d. 45 days - ANSWER ✔✔c. 30 days
The golf shop, located at the golf course, is open all year. However, the
highest levels of inventory are carried between May and September.
What is the best way to insure the increase in coverage for those
months?
a. value reporting form
b. peak season endorsement
blanket policy
business income and extra expense endorsement - ANSWER ✔✔b.
peak season endorsement
Restaurants and bars present a risk exposure for bodily injury and
property damage for which the insured may become liable as a result of
contributing to a person's intoxication. The coverage these businesses
require is...
a. commercial general liability
b. liquor liability insurance
,c. premises liability insurance
d. products liability insurance - ANSWER ✔✔b. liquor liability
insurance
If an insurer violates any section of the insurance code, what can the
Commissioner issue to stop the insurer from committing the violation?
a. notice of a hearing
b. cease and desist order
c. suspension order
d. notice of violation - ANSWER ✔✔b. cease and desist
which of the following coverages is included in the homeowners policy
but is not included in an unendorsed dwelling policy?
a. other structures
b. dwelling
c. personal property
d. liability - ANSWER ✔✔d. liability
which of the following commercial general liability coverages would
protect a policyholder from assumed liability under a construction
contract to install water lines for a city?
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, a. completed operations
b. premises liability
c. contractual liability
d. independent contractors - ANSWER ✔✔c. contractual liability
commercial umbrella liability policies provide coverage...
a. when the underlying contract has been nonrenewed
b. when a loss is excluded under the underlying policy but not excluded
under the umbrella
c. only for a commercial auto liability
d. for usual and everyday types of exposures - ANSWER ✔✔b. when
a loss is excluded in the underlying policy but not excluded under the
umbrella
all of the following perils are covered under the basic commercial
property causes of loss form except...
a. falling objects
b. vandalism
c. fire
d. sprinkler leakage - ANSWER ✔✔a. falling objects
