AD BANKER PROPERTY & CASUALTY SAMPLE
QUESTIONS
Damage to your neighbors crops as a result of your livestock getting out and
continuously tampling them is an example of: - Answers - Occurence
An example of the kind of property, with endorsement, which can be insured for an
amount greater than its actual cash value, would be a: - Answers - Personal Property
While cooking, a grease firegets out of control and causes considerable damage to your
kitchen, this is called a: - Answers - Peril
Each of the following are allowed under a Property Insurance Policy: - Answers - 1.
Nonrenewal
2. Recovery
3. Written endorsements
What is not allowed under a Property Insurance Policy: - Answers - Abandoment
Theft of contents and personal property is covered in these homeowners policies: -
Answers - 1. HO-2
2. HO-3
3. HO-4
Theft of contetns and personal property is not covered in: - Answers - HO-8
With a Homeowners policy, you would need to refer to which part of the policy to
determine which members of the family would be included as an insured? - Answers -
Definitions
Homeowners policies typically exclude covereage for all of the following: - Answers - 1.
Intentional loss
2. Power failure
3. Neglect
Homeowners policies typically include coverage for: - Answers - Additional living
expenses
A property insurance policy may be assigned, but only when: - Answers - The insured
company accepts the assignment in writing.
An insured decided to cancel her policy, which is renewed annually, after only 3 months.
How much premium should the insurer refund? - Answers - Somewhat less than 75% or
the premium paid.
, A property owener has a single building for which she has two fire policies. Policy ABC
includes $180,000 of coverage and Policy XYZ includes $120,000 of coverage. A loss
of $60,000 occurs which is covered under both policies. Policy ABC will pay? - Answers
- $36,000
A true definition of vacancy would be? - Answers - A property with no contents or
occupants.
The portion of a property policy that stipulates the obligations and duties of the insured
would be: - Answers - Conditions
At what time must an insurable interest exist with a Property and Casualty Policy? -
Answers - Only at the time of the loss.
Two "Other Coverages" that are found in DP-2 (Broad form) and DP-3 (Special form),
but not found in the (Basic form) DP-1 are: - Answers - Coverage for trees, shrubs, and
plants and collapse.
Your homeowners policy may have a home day care coverage endorsement added.
The premium for this endorsement would be determined by: - Answers - The number of
children under your care.
All of the following are optional coverage's available on a Businessowner's Coverage
Form Section 1 - Property: - Answers - 1. Money and securities
2. Employee dishonesty
3. Outdoor signs
What is not an optional coverage available to a Businessowner's Coverage Form
Section 1- Property? - Answers - Burglary and robbery
With a Commercial Packet Policy, coverage will be suspended after the property is
vacant for 60 days for each of these listed perils: - Answers - 1. Glass breakage
2. Water damage
3. Vandalism
With a Commercial Packet Policy, coverage will not be suspended after the property is
vacant for 60 days with this kind of peril: - Answers - Fire and lightning
A business with a Building and Personal Property Coverage Form has $100,000 policy
for a building that incurs an $80,000 loss by fire and $15,000 in debris removel
expenses. How much will the policy pay? - Answers - $95,000
Upon seperation, one spouse moves from the primary residence into an apartment.
Seven months later the apartment residing spouse has his wallet stolen. The
homeowners policy for the primary residence will pay? - Answers - Nothing
QUESTIONS
Damage to your neighbors crops as a result of your livestock getting out and
continuously tampling them is an example of: - Answers - Occurence
An example of the kind of property, with endorsement, which can be insured for an
amount greater than its actual cash value, would be a: - Answers - Personal Property
While cooking, a grease firegets out of control and causes considerable damage to your
kitchen, this is called a: - Answers - Peril
Each of the following are allowed under a Property Insurance Policy: - Answers - 1.
Nonrenewal
2. Recovery
3. Written endorsements
What is not allowed under a Property Insurance Policy: - Answers - Abandoment
Theft of contents and personal property is covered in these homeowners policies: -
Answers - 1. HO-2
2. HO-3
3. HO-4
Theft of contetns and personal property is not covered in: - Answers - HO-8
With a Homeowners policy, you would need to refer to which part of the policy to
determine which members of the family would be included as an insured? - Answers -
Definitions
Homeowners policies typically exclude covereage for all of the following: - Answers - 1.
Intentional loss
2. Power failure
3. Neglect
Homeowners policies typically include coverage for: - Answers - Additional living
expenses
A property insurance policy may be assigned, but only when: - Answers - The insured
company accepts the assignment in writing.
An insured decided to cancel her policy, which is renewed annually, after only 3 months.
How much premium should the insurer refund? - Answers - Somewhat less than 75% or
the premium paid.
, A property owener has a single building for which she has two fire policies. Policy ABC
includes $180,000 of coverage and Policy XYZ includes $120,000 of coverage. A loss
of $60,000 occurs which is covered under both policies. Policy ABC will pay? - Answers
- $36,000
A true definition of vacancy would be? - Answers - A property with no contents or
occupants.
The portion of a property policy that stipulates the obligations and duties of the insured
would be: - Answers - Conditions
At what time must an insurable interest exist with a Property and Casualty Policy? -
Answers - Only at the time of the loss.
Two "Other Coverages" that are found in DP-2 (Broad form) and DP-3 (Special form),
but not found in the (Basic form) DP-1 are: - Answers - Coverage for trees, shrubs, and
plants and collapse.
Your homeowners policy may have a home day care coverage endorsement added.
The premium for this endorsement would be determined by: - Answers - The number of
children under your care.
All of the following are optional coverage's available on a Businessowner's Coverage
Form Section 1 - Property: - Answers - 1. Money and securities
2. Employee dishonesty
3. Outdoor signs
What is not an optional coverage available to a Businessowner's Coverage Form
Section 1- Property? - Answers - Burglary and robbery
With a Commercial Packet Policy, coverage will be suspended after the property is
vacant for 60 days for each of these listed perils: - Answers - 1. Glass breakage
2. Water damage
3. Vandalism
With a Commercial Packet Policy, coverage will not be suspended after the property is
vacant for 60 days with this kind of peril: - Answers - Fire and lightning
A business with a Building and Personal Property Coverage Form has $100,000 policy
for a building that incurs an $80,000 loss by fire and $15,000 in debris removel
expenses. How much will the policy pay? - Answers - $95,000
Upon seperation, one spouse moves from the primary residence into an apartment.
Seven months later the apartment residing spouse has his wallet stolen. The
homeowners policy for the primary residence will pay? - Answers - Nothing
