Exam Fx-Property and Casualty Exam
Questions and Answers 100% Pass
To be considered an insurable risk, a loss may NOT be - ANSWER✔✔-catastrophic
Which of the following persons would be required to hold a producer license? -
ANSWER✔✔-a nonresident agent who negotiates insurance contracts
Which of the following is the oldest known type of insurance? - ANSWER✔✔-ocean
marine
The contents coverage on a homeowners policy would pay how much after the loss of
one of a pair of golden candlesticks? - ANSWER✔✔-the difference in the actual cash
value as a pair and as a single
Which of the following additional perils is covered under both of the Basic and Broad
forms in dwelling policies? - ANSWER✔✔-internal explosion
When would a misrepresentation on the insurance application be considered fraud? -
ANSWER✔✔-If it is intentional and material
A bond is written for a set limit, and the surety will be liable only for this amount. This
limit is known as the - ANSWER✔✔-penalty
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, In insurance, an offer is usually made when - ANSWER✔✔-the application is submitted
All of the following actions by a producer may be grounds for license revocation or
non-renewal EXCEPT - ANSWER✔✔-participating in controlled business
In personal auto policies, the term "you" refers to - ANSWER✔✔-the named insured
Business personal property coverage form covers all of the following except: -
ANSWER✔✔-automobiles held for sale
in dwelling policies, automatic increase in insurance is - ANSWER✔✔-coverage by
endorsement
To be eligible for businessowners policy (BOP) coverage, an office building CANNOT
be higher than - ANSWER✔✔-6 stories
Elaborate homes with replacement costs greater than ACV or market value are insured
on the - ANSWER✔✔-HO-8 Form
Which of the following dwelling coverage forms would pay replacement cost for the
dwelling? - ANSWER✔✔-DP-2 and DP-3
Business personal property coverage insures property out in the open if it is -
ANSWER✔✔-Within 100 feet of the described premises
A runaway shopping cart injures a customer in a supermarket's parking lot. Coverage
for this claim would be provided under - ANSWER✔✔-premises and operations
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Questions and Answers 100% Pass
To be considered an insurable risk, a loss may NOT be - ANSWER✔✔-catastrophic
Which of the following persons would be required to hold a producer license? -
ANSWER✔✔-a nonresident agent who negotiates insurance contracts
Which of the following is the oldest known type of insurance? - ANSWER✔✔-ocean
marine
The contents coverage on a homeowners policy would pay how much after the loss of
one of a pair of golden candlesticks? - ANSWER✔✔-the difference in the actual cash
value as a pair and as a single
Which of the following additional perils is covered under both of the Basic and Broad
forms in dwelling policies? - ANSWER✔✔-internal explosion
When would a misrepresentation on the insurance application be considered fraud? -
ANSWER✔✔-If it is intentional and material
A bond is written for a set limit, and the surety will be liable only for this amount. This
limit is known as the - ANSWER✔✔-penalty
Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/10
, In insurance, an offer is usually made when - ANSWER✔✔-the application is submitted
All of the following actions by a producer may be grounds for license revocation or
non-renewal EXCEPT - ANSWER✔✔-participating in controlled business
In personal auto policies, the term "you" refers to - ANSWER✔✔-the named insured
Business personal property coverage form covers all of the following except: -
ANSWER✔✔-automobiles held for sale
in dwelling policies, automatic increase in insurance is - ANSWER✔✔-coverage by
endorsement
To be eligible for businessowners policy (BOP) coverage, an office building CANNOT
be higher than - ANSWER✔✔-6 stories
Elaborate homes with replacement costs greater than ACV or market value are insured
on the - ANSWER✔✔-HO-8 Form
Which of the following dwelling coverage forms would pay replacement cost for the
dwelling? - ANSWER✔✔-DP-2 and DP-3
Business personal property coverage insures property out in the open if it is -
ANSWER✔✔-Within 100 feet of the described premises
A runaway shopping cart injures a customer in a supermarket's parking lot. Coverage
for this claim would be provided under - ANSWER✔✔-premises and operations
Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/10
