Pennsylvania Property and Casualty Comprehensive Test with answers 2024

Pennsylvania Property and Casualty Comprehensive TestA person wanting to insure a single shipment would use: - correct answer A Trip Transit Form Which statement about the Umbrella Liability Policy is false? - correct answer The standard deductible on an umbrella policy is $100,000 Which of the following is true of the Towing coverage provided under Section III of the BAP? - correct answer Labor must be performed at the place of disablement The Equipment Breakdown Coverage does not cover which of the following? - correct answer Breakdown test All of the following statements regarding financial rating services are correct, except: - correct answer Agents and producers must place business through an insurer with the lowest rates Which of the following statements is false concerning Section II of a Homeowners Policy? - correct answer Section II provides no defense in the event of a groundless, false, or fraudulent claim According to Pennsylvania laws, regulations, and required provisions, which of the following statements is correct? - correct answer Binders may be in force for up to 30 days According to Pennsylvania law, a dwelling policy would cover which of the following scenarios? - correct answer A loss to a covered dwelling with the Special Provisions endorsement is repaired on an actual cash value basis Which of the following is FALSE about a claim payment for a Part D under Personal Auto? - correct answer If the insurer returns a stolen car to the insured, it doesn't have to pay claims for vehicle damage Which of the following is true about binders? - correct answer The amount of insurance is stated in a binder All of the following statements regarding a Workers' Compensation policy are correct, except: - correct answer Part Two of a Workers' Compensation Policy provides unlimited coverage All of the following are true of the HO-2, except: - correct answer The HO-2 pays for losses on an open peril basis All of the following are true of liability policies, except: - correct answer They will cover damage to the insured's own property Which of the following is included in the building coverage provided by the Building and Personal Property Coverage Form? - correct answer Completed additions, fixtures, including outdoor fixtures, permanently installed machinery and equipment A licensee must provide a clear and conspicuous notice that accurately reflects its privacy policies and practices to the licensee's customers, no later than when the licensee establishes a customer relationship, and ________ thereafter during the continuation of the customer relationship. - correct answer Annually Which of the following statements regarding the cancellation of auto insurance in Pennsylvania is correct? - correct answer A policy may not be cancelled because the insured was in one accident within a 36-month period All of the following are true of a Homeowners Policy, Coverage F, except: - correct answer Under Coverage F, payments apply to necessary medical expenses incurred within a maximum of 1 year Which of the following statements regarding deductibles is true? - correct answer Deductibles help reduce the number of frivolous or small claims