PC Exam with perfect answers 2024

In an insurance contract, only the company makes legally enforceable promises, which means the contract is _______. correct answersunilateral Insurance binders are _______. correct answersinterim An insured construction contractor completes a project. Later a person in the building is injured due to the careless actions of the contractor. How would a Commercial General Liability policy define this injury? correct answersOperations liability Products liability Completed Operations liability What must happen after cancellation of an Auto policy for any reason other than nonpayment of premium? correct answersThe insurance company must inform the insured of possible eligibility for the Automobile Assigned Risk Plan. Which of the following statements is FALSE regarding a Businessowners policy? correct answersBanks can be covered The XYZ Insurance Company decided to cancel Johnny Goof-Up's Auto policy after he didn't pay his premium. The cancellation will be effective on the 20th day of the month. By what day must the company mail Johnny his Notice of Cancellation? correct answers10 An insured is struck by a vehicle while crossing the road to check his mail. Which section of which policy will pay for his injuries? correct answersHomeowners Medical Payments Homeowners Liability The insured's Automobile Medical Payments Who would NOT be covered under an insured's Personal Auto policy? correct answersA child at college driving his own car A relative driving the insured's car A mechanic test driving the insured's car Which coverage cannot be added as property coverage to a Homeowners policy through endorsement? correct answersanimals What is the maximum amount an Unendorsed Homeowners policy would pay for theft of a firearm? correct answers2500 How would a Commercial General Liability policy define an injury suffered by a customer in the business of the insured? correct answersOperations liability