Texas Property and Casualty Insurance Policies. (State Test)

A beauty parlor burns to the ground. What type of loss is this to the owner? - correct answersDirect A property insurance policy that is not subject to any coinsurance requirements but has a set amount of insurance scheduled for the property would use what valuation method? - correct answersStated amount All of the following are true of coverage B - Other structures EXCEPT - correct answersIt must be added by endorsement to a homeowners policy All of the following situations would be covered under a professional liability policy EXCEPT - correct answersThe failure of an attorney to properly defend a client due to his personal dislike of the client All the following are major coverages included in the homeowners policy EXCEPT - correct answersLoss of income An insurance agency could purchase an errors omission insurance policy which would provide protection in the event of the following events EXCEPT - correct answersThe agency loses commission income from policies that were not issued by the insurer Coverage for all the following is found in Section I of a homeowners policy EXCEPT - correct answersPersonal Liability If the actual values exceed the limit of insurance, the buisnessowners policy (BOP) contains a seasonal increase provision that automatically increases the limit of insurance for business personal property by - correct answers25% In which of the following types of property valuation will the policy pay the full value specified on the policy schedule, regardless of the insured property's appreciation or depreciation? - correct answersAgreed Value In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy period? - correct answersLoss sustained form The basic dwelling form (DP-1) provides all of the following coverages without endorsement EXCEPT - correct answersCoverage for personal proper