Property and Casualty Insurance Mastery Exam A with all
Correct & 100% Verified Answers |Actual Complete
Update |Already Graded A+
An insured rents a car while on vacation in Canada and causes an accident. Is there coverage
under his personal auto policy? ✔Correct Answer-The loss is covered under an unendorsed
personal auto policy.
Under the workers' compensation laws, which of the following would NOT be covered?
✔Correct Answer-Heart-related illness resulting from hereditary causes
An insurance policy covers fire, will not cover nuclear contamination, and loss must be reported
as soon as possible. In this order, where are these facts found in the policy? ✔Correct Answer-
Insuring agreement, exclusions, and conditions
Which of the following principles holds that a person should not profit by collecting on
insurance? ✔Correct Answer-Principle of indemnity
Which of the following is NOT a benefit of workers' compensation insurance? ✔Correct
Answer-Pain and suffering
The building and personal property form covers all the following EXCEPT ✔Correct Answer-
highway billboards
The personal auto policy's comprehensive physical damage coverage covers all of the following
EXC ✔Correct Answer-freezing
Who is responsible for controlling the content, form, and distribution of insurance policy
advertisements? ✔Correct Answer-The insurer
An automobile policy may be canceled for any of the following reasons EXCEPT ✔Correct
Answer-being involved in a hit-and-run accident for which the insured was not at fault
The Terrorism Risk Insurance Act provides federal compensation for insured losses resulting
from acts of terrorism. All of the following would qualify as acts of terrorism EXCEPT
✔Correct Answer-acts causing property damage and loss of life in foreign countries
Which of the following is NOT a commercial general liability exposure? ✔Correct Answer-
Owned investment portfolio
, Open peril coverage for both the dwelling and personal property is provided by the ✔Correct
Answer-HO-5
All of the following would be covered property by the CPP building and personal property form
EXCEPT ✔Correct Answer-bailee property
An agent license is renewed by paying the applicable renewal fee and completing ✔Correct
Answer-continuing education
In an insurance transaction, who does a licensed agent legally represent? ✔Correct Answer-
Insurer
The listing of the perils covered under a policy is found in ✔Correct Answer-the insuring
agreement
If a loss paid by a workers' compensation policy was caused by a negligent third party, the
insurer retains the right to ✔Correct Answer-subrogate
The term unoccupied means ✔Correct Answer-the insured has gone on vacation
States give an insurer permission to transact insurance with a certificate of ✔Correct Answer-
authority
Which of the following situations would most likely be covered by a commercial general liability
(CGL) policy? ✔Correct Answer-A surfboard falls off a shelf and injures a shopper.
Which of the following is inland marine insurance? ✔Correct Answer-Commercial property
floaters
Which of the following could be scheduled under a miscellaneous type vehicles endorsement to
the personal auto policy? ✔Correct Answer-Motorcycle
Commingling refers to ✔Correct Answer-improperly mixing personal funds with insurer or
insured's funds
A commercial general liability "occurrence" policy provides coverage for a claim that occurred
✔Correct Answer-during the policy period
Which of the following losses would NOT be paid under the liability coverage of the
homeowners policy? ✔Correct Answer-The named insured's son damages the family's garage
with his car.
Correct & 100% Verified Answers |Actual Complete
Update |Already Graded A+
An insured rents a car while on vacation in Canada and causes an accident. Is there coverage
under his personal auto policy? ✔Correct Answer-The loss is covered under an unendorsed
personal auto policy.
Under the workers' compensation laws, which of the following would NOT be covered?
✔Correct Answer-Heart-related illness resulting from hereditary causes
An insurance policy covers fire, will not cover nuclear contamination, and loss must be reported
as soon as possible. In this order, where are these facts found in the policy? ✔Correct Answer-
Insuring agreement, exclusions, and conditions
Which of the following principles holds that a person should not profit by collecting on
insurance? ✔Correct Answer-Principle of indemnity
Which of the following is NOT a benefit of workers' compensation insurance? ✔Correct
Answer-Pain and suffering
The building and personal property form covers all the following EXCEPT ✔Correct Answer-
highway billboards
The personal auto policy's comprehensive physical damage coverage covers all of the following
EXC ✔Correct Answer-freezing
Who is responsible for controlling the content, form, and distribution of insurance policy
advertisements? ✔Correct Answer-The insurer
An automobile policy may be canceled for any of the following reasons EXCEPT ✔Correct
Answer-being involved in a hit-and-run accident for which the insured was not at fault
The Terrorism Risk Insurance Act provides federal compensation for insured losses resulting
from acts of terrorism. All of the following would qualify as acts of terrorism EXCEPT
✔Correct Answer-acts causing property damage and loss of life in foreign countries
Which of the following is NOT a commercial general liability exposure? ✔Correct Answer-
Owned investment portfolio
, Open peril coverage for both the dwelling and personal property is provided by the ✔Correct
Answer-HO-5
All of the following would be covered property by the CPP building and personal property form
EXCEPT ✔Correct Answer-bailee property
An agent license is renewed by paying the applicable renewal fee and completing ✔Correct
Answer-continuing education
In an insurance transaction, who does a licensed agent legally represent? ✔Correct Answer-
Insurer
The listing of the perils covered under a policy is found in ✔Correct Answer-the insuring
agreement
If a loss paid by a workers' compensation policy was caused by a negligent third party, the
insurer retains the right to ✔Correct Answer-subrogate
The term unoccupied means ✔Correct Answer-the insured has gone on vacation
States give an insurer permission to transact insurance with a certificate of ✔Correct Answer-
authority
Which of the following situations would most likely be covered by a commercial general liability
(CGL) policy? ✔Correct Answer-A surfboard falls off a shelf and injures a shopper.
Which of the following is inland marine insurance? ✔Correct Answer-Commercial property
floaters
Which of the following could be scheduled under a miscellaneous type vehicles endorsement to
the personal auto policy? ✔Correct Answer-Motorcycle
Commingling refers to ✔Correct Answer-improperly mixing personal funds with insurer or
insured's funds
A commercial general liability "occurrence" policy provides coverage for a claim that occurred
✔Correct Answer-during the policy period
Which of the following losses would NOT be paid under the liability coverage of the
homeowners policy? ✔Correct Answer-The named insured's son damages the family's garage
with his car.
