MASTERY EXAM 2026 COMPREHENSIVE
ASSESSMENT SCRIPT SOLVED QUESTIONS
ANSWERS UPDATED REVIEW SET
◉ all statements and descriptions in any application for an
insurance policy by an insured are,,,
a. representations and not warranties
b. neither warranties nor representations
c. warranties and not representations
d. both warranties and representations.
Answer: a. representations and not warranties
◉ which of the following could be scheduled under a miscellaneous
type vehicles endorsement to the personal auto policy?
a. taxi
b. company van
c. trailer
d. motorcycle.
Answer: d. motorcycle
,◉ The owner of an old building buys insurance to protect himself
from a possible lawsuit. This is an example of risk..
a. transfer
b. retention
c. avoidance
d. sharing.
Answer: a. transfer
◉ who are the owners of a mutual insurance company?
a. directors
b. policyowners
c. investors
d. stockholders.
Answer: b. policyowners
◉ loss due to vandalism, water damage, theft, or building glass
breakage are not covered if a building has been vacant for more than
how many days?
a. 45
b. 90
c. 60
d. 30.
,Answer: c. 60 days
◉ who are the three parties to a surety bond?
a. principal, obligee, and surety
b. insurance company, agent, and policyholder
c. agent, principal, and obligee
d. principal, agent, and surety.
Answer: a. principal, obligee, and surety
◉ the building and personal property form covers all the following
except...
a. highway billboards
b. outdoor fixtures
c. furniture
d. stock.
Answer: a. highway billboards
◉ which of the following is not included in the nationwide marine
definition?
a. personal floaters
b. commercial floaters
c. personal shipments
, d. exports.
Answer: c. personal shipments
◉ which of the following actions may result in license suspension or
revocation?
a. making a material statement in a license application regarding a
criminal conviction
b. making factual and subjective statements to a prospect when
comparing two policies
c. actively engaging in a practice to solicit business from other agents
d. making an agreement with or licensed agents in a geographical
area to not write insurance for a particular insurer.
Answer:
◉ which of the following marine risks is eligible to be written as
commercial inland marine insurance?
a. imports
b. personal property floaters
c. exports
d. commercial property floaters.
Answer: d. commercial property floaters
ASSESSMENT SCRIPT SOLVED QUESTIONS
ANSWERS UPDATED REVIEW SET
◉ all statements and descriptions in any application for an
insurance policy by an insured are,,,
a. representations and not warranties
b. neither warranties nor representations
c. warranties and not representations
d. both warranties and representations.
Answer: a. representations and not warranties
◉ which of the following could be scheduled under a miscellaneous
type vehicles endorsement to the personal auto policy?
a. taxi
b. company van
c. trailer
d. motorcycle.
Answer: d. motorcycle
,◉ The owner of an old building buys insurance to protect himself
from a possible lawsuit. This is an example of risk..
a. transfer
b. retention
c. avoidance
d. sharing.
Answer: a. transfer
◉ who are the owners of a mutual insurance company?
a. directors
b. policyowners
c. investors
d. stockholders.
Answer: b. policyowners
◉ loss due to vandalism, water damage, theft, or building glass
breakage are not covered if a building has been vacant for more than
how many days?
a. 45
b. 90
c. 60
d. 30.
,Answer: c. 60 days
◉ who are the three parties to a surety bond?
a. principal, obligee, and surety
b. insurance company, agent, and policyholder
c. agent, principal, and obligee
d. principal, agent, and surety.
Answer: a. principal, obligee, and surety
◉ the building and personal property form covers all the following
except...
a. highway billboards
b. outdoor fixtures
c. furniture
d. stock.
Answer: a. highway billboards
◉ which of the following is not included in the nationwide marine
definition?
a. personal floaters
b. commercial floaters
c. personal shipments
, d. exports.
Answer: c. personal shipments
◉ which of the following actions may result in license suspension or
revocation?
a. making a material statement in a license application regarding a
criminal conviction
b. making factual and subjective statements to a prospect when
comparing two policies
c. actively engaging in a practice to solicit business from other agents
d. making an agreement with or licensed agents in a geographical
area to not write insurance for a particular insurer.
Answer:
◉ which of the following marine risks is eligible to be written as
commercial inland marine insurance?
a. imports
b. personal property floaters
c. exports
d. commercial property floaters.
Answer: d. commercial property floaters
