Exam Fx-Property and Casualty Test 2023.

Exam Fx-Property and Casualty Test 2023. To be considered an insurable risk, a loss may NOT be - ANSWERcatastrophic Which of the following persons would be required to hold a producer license? - ANSWERa nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? - ANSWERocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? - ANSWERthe difference in the actual cash value as a pair and as a single Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling policies? - ANSWERinternal explosion When would a misrepresentation on the insurance application be considered fraud? - ANSWERIf it is intentional and material A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as the - ANSWERpenalty In insurance, an offer is usually made when - ANSWERthe application is submitted All of the following actions by a producer may be grounds for license revocation or non-renewal EXCEPT - ANSWERparticipating in controlled business In personal auto policies, the term "you" refers to - ANSWERthe named insured Business personal property coverage form covers all of the following except: - ANSWERautomobiles held for sale in dwelling policies, automatic increase in insurance is - ANSWERcoverage by endorsement To be eligible for businessowners policy (BOP) coverage, an office building CANNOT be higher than - ANSWER6 stories Elaborate homes with replacement costs greater than ACV or market value are insured on the - ANSWERHO-8 Form Which of the following dwelling coverage forms would pay replacement cost for the dwelling? - ANSWERDP-2 and DP-3 Business personal property coverage insures property out in the open if it is - ANSWERWithin 100 feet of the described premises A runaway shopping cart injures a customer in a supermarket's parking lot. Coverage for this claim would be provided under - ANSWERpremises and operations Which of the following businesses would be eligible for a businessowners policy? - ANSWERHill & Morton Funeral Home