GA PROPERTY & CASUALTY TEST QUESTIONS
AND ANSWERS
KIND & QUALITY OF PROPERTY - AGE OF PROPERTY AND REPLACEMENT Correct Ans-THESE
ARE FACTORS IN DETERMINING ACV.
DECLARATIONS Correct Ans-THE PART OF A PROPERTY POLICY WHICH SHOWS THE AMOUNT
OF INSURANCE, PREMIUMS AND POLICY TERMS - WHO, WHAT, WHEN, WHERE ?
VALUED POLICY STATUE Correct Ans-UNDER THE VALUATION OF LOSS - THIS STATUE STATES -
IN THE EVENT OF A TOTAL LOSS BY FIRE TO A 1 OR 2 FAMILY RESIDENTIAL BUILDING OR
STRUCTURE.
DEFAMATION Correct Ans-WHEN BILLY WAS REVIEWING SUMMER'S INSURANCE POLICY
THAT WAS WRITTEN BY ANOTHER INSURANCE COMPANY, SHE MADE SEVERAL STATEMENTS
THAT WAS MALICIOUSLY CRITICAL OF THE OTHER INSURER. SUMMER IS GUILTY OF?
THE CHIEF OFFICER OF THE DEPARTMENT OF INSURANCE Correct Ans-THE COMMISSIONER
OF INSURANCE IS?
30 DAYS Correct Ans-HOW MANY DAYS BEFORE A POLICY IS NON-RENEWED MUST AN
INSURER DELIVER OR MAIL WRITTEN NOTICE TO THE INSURED?
, 45 DAYS Correct Ans-IF THE PREMIUM FOR A POLICY WILL BE INCREASED BY MORE THAN
15%, HOW MUCH WARNING MUST THE INSURED GET?
APPARENT AUTHORITY Correct Ans-WHAT TYPE OF AUTHORITY IS BASED ON THE ACTIONS,
WORDS, OR DEEDS OF THE PRINCIPAL?
TRANSACTING INSURANCE Correct Ans-SOLICITING INSURANCE, MAKING AN INSURANCE
CONTRACT EFFECTIVE, AND DEALING WITH MATTERS ARISING FROM THAT CONTRACT ARE ALL
EXAMPLES OF WHAT INSURANCE TERM?
APPRAISAL CLAUSE Correct Ans-ESTABLISHES THE PROCEDURE FOR DETERMINING THE
AMOUNT OF A LOSS WHEN THE INSURER AND THE INSURED CANNOT AGREE ON THE VALUE OF
PROPERY OR AMOUNT OF LOSS.
ARBITRATION Correct Ans-IT IS THE METHOD OF A CLAIM SETTLEMENT USED WHEN THE
INSURED AND THE INSURER CANNOT AGREE ON HOW TO SETTLE THE CLAM.
ENCOURAGE INSURANCE TO VALUE Correct Ans-THE PURPOSE OF THE COINSURANCE
CLAUSE FOUND IN PROPERTY POLICIES IS TO DO WHAT?
LOAN APPLICATION, EMPLOYEE BACKGROUND CHECK AND INSURANCE APPLICATION Correct
Ans-UNDER THE FAIR CREDIT REPORTING ACT, A CONSUMER REPORT COULD BE USED FOR THE
FOLLOWING.
AND ANSWERS
KIND & QUALITY OF PROPERTY - AGE OF PROPERTY AND REPLACEMENT Correct Ans-THESE
ARE FACTORS IN DETERMINING ACV.
DECLARATIONS Correct Ans-THE PART OF A PROPERTY POLICY WHICH SHOWS THE AMOUNT
OF INSURANCE, PREMIUMS AND POLICY TERMS - WHO, WHAT, WHEN, WHERE ?
VALUED POLICY STATUE Correct Ans-UNDER THE VALUATION OF LOSS - THIS STATUE STATES -
IN THE EVENT OF A TOTAL LOSS BY FIRE TO A 1 OR 2 FAMILY RESIDENTIAL BUILDING OR
STRUCTURE.
DEFAMATION Correct Ans-WHEN BILLY WAS REVIEWING SUMMER'S INSURANCE POLICY
THAT WAS WRITTEN BY ANOTHER INSURANCE COMPANY, SHE MADE SEVERAL STATEMENTS
THAT WAS MALICIOUSLY CRITICAL OF THE OTHER INSURER. SUMMER IS GUILTY OF?
THE CHIEF OFFICER OF THE DEPARTMENT OF INSURANCE Correct Ans-THE COMMISSIONER
OF INSURANCE IS?
30 DAYS Correct Ans-HOW MANY DAYS BEFORE A POLICY IS NON-RENEWED MUST AN
INSURER DELIVER OR MAIL WRITTEN NOTICE TO THE INSURED?
, 45 DAYS Correct Ans-IF THE PREMIUM FOR A POLICY WILL BE INCREASED BY MORE THAN
15%, HOW MUCH WARNING MUST THE INSURED GET?
APPARENT AUTHORITY Correct Ans-WHAT TYPE OF AUTHORITY IS BASED ON THE ACTIONS,
WORDS, OR DEEDS OF THE PRINCIPAL?
TRANSACTING INSURANCE Correct Ans-SOLICITING INSURANCE, MAKING AN INSURANCE
CONTRACT EFFECTIVE, AND DEALING WITH MATTERS ARISING FROM THAT CONTRACT ARE ALL
EXAMPLES OF WHAT INSURANCE TERM?
APPRAISAL CLAUSE Correct Ans-ESTABLISHES THE PROCEDURE FOR DETERMINING THE
AMOUNT OF A LOSS WHEN THE INSURER AND THE INSURED CANNOT AGREE ON THE VALUE OF
PROPERY OR AMOUNT OF LOSS.
ARBITRATION Correct Ans-IT IS THE METHOD OF A CLAIM SETTLEMENT USED WHEN THE
INSURED AND THE INSURER CANNOT AGREE ON HOW TO SETTLE THE CLAM.
ENCOURAGE INSURANCE TO VALUE Correct Ans-THE PURPOSE OF THE COINSURANCE
CLAUSE FOUND IN PROPERTY POLICIES IS TO DO WHAT?
LOAN APPLICATION, EMPLOYEE BACKGROUND CHECK AND INSURANCE APPLICATION Correct
Ans-UNDER THE FAIR CREDIT REPORTING ACT, A CONSUMER REPORT COULD BE USED FOR THE
FOLLOWING.
