Property and Casualty Practice PSI Exam
|Questions with 100% Correct Answers
Which of the following is the standard amount of Coverage A-dwelling provided
by the HO-6 Unit-Owners Policy?
-$500
-$1,000
-$5,000
-$10,000 - ✔ ✔ $1,000
When an individual with a pre-existing condition is in an automobile accident and
the insurance covers rehabilitation only to the level of the condition prior to the
accident, this is because of which of the following principles?
-reasonable expectations
-indemnity
-good faith
-adhesion - ✔ ✔ indemnity
,Which of the following business liability exposures does a slip and fall loss fall
under?
-Indirect and contingent
-Medical expense
-Premises and operations
-Retail hazards - ✔ ✔ Premises and operations
What is the purpose of the causes of loss form that lists specific exclusions?
-To inform the insurer what the loss is in a claim
-To state which properties are covered in a loss
-To state which perils are insured against
-To inform the insured whether the loss in a claim is covered - ✔ ✔ To state
which perils are insured against
All of the following describe a nonowned auto under the commercial auto policy
Symbol 9 EXCEPT:
-Auto not titled to an insured but available for regular use of named insured
or family member
-Nonowned auto is designated for liability coverage only
-Includes autos owned by employees but used in the insured's business
-Autos used in the insured's business that are not leased, hired, rented, or
borrowed. - ✔ ✔ Auto not titled to an insured but available for regular use
of named insured or family member
, Which of the following would be covered perils under the DP-1 Basic policy form?
-Falling objects
-Freezing or pluming
-Weight of ice or snow
-Riot of civil commotion - ✔ ✔ Riot or civil commotion
All of the following are correct for towing and labor costs coverage on
the personal auto policy EXCEPT:
-settlement is by reimbursement
-coverage is available by endorsement
-towing and labor are combined per occurrence
-labor costs are performed at the shop are limited to $25. - ✔ ✔ labor costs
are performed at the shop are limited to $25
Absolute liability can be imposed by law and exist in the absense of which of the
following?
-hird party liability
-hazardous operations
-products liability
-negligence - ✔ ✔ negligence
|Questions with 100% Correct Answers
Which of the following is the standard amount of Coverage A-dwelling provided
by the HO-6 Unit-Owners Policy?
-$500
-$1,000
-$5,000
-$10,000 - ✔ ✔ $1,000
When an individual with a pre-existing condition is in an automobile accident and
the insurance covers rehabilitation only to the level of the condition prior to the
accident, this is because of which of the following principles?
-reasonable expectations
-indemnity
-good faith
-adhesion - ✔ ✔ indemnity
,Which of the following business liability exposures does a slip and fall loss fall
under?
-Indirect and contingent
-Medical expense
-Premises and operations
-Retail hazards - ✔ ✔ Premises and operations
What is the purpose of the causes of loss form that lists specific exclusions?
-To inform the insurer what the loss is in a claim
-To state which properties are covered in a loss
-To state which perils are insured against
-To inform the insured whether the loss in a claim is covered - ✔ ✔ To state
which perils are insured against
All of the following describe a nonowned auto under the commercial auto policy
Symbol 9 EXCEPT:
-Auto not titled to an insured but available for regular use of named insured
or family member
-Nonowned auto is designated for liability coverage only
-Includes autos owned by employees but used in the insured's business
-Autos used in the insured's business that are not leased, hired, rented, or
borrowed. - ✔ ✔ Auto not titled to an insured but available for regular use
of named insured or family member
, Which of the following would be covered perils under the DP-1 Basic policy form?
-Falling objects
-Freezing or pluming
-Weight of ice or snow
-Riot of civil commotion - ✔ ✔ Riot or civil commotion
All of the following are correct for towing and labor costs coverage on
the personal auto policy EXCEPT:
-settlement is by reimbursement
-coverage is available by endorsement
-towing and labor are combined per occurrence
-labor costs are performed at the shop are limited to $25. - ✔ ✔ labor costs
are performed at the shop are limited to $25
Absolute liability can be imposed by law and exist in the absense of which of the
following?
-hird party liability
-hazardous operations
-products liability
-negligence - ✔ ✔ negligence
