MO PROPERTY AND CASUALTY RELIABLE TESTED
QUESTIONS WITH ANSWERS 2025/2026 GRADED A+
eligibility/enrollment period - used in life and health group benefits without having to
prove insurability
symbol 9 - non-owned autos
the lender on a home is called - mortgagee or mortgage holder
multiple employer trust - a legal entity of small biz owners grouped together to buy
insurance
what percentage must vacant for a building to be called vacant? - 70%
size limits for business owners policy - 6 stories, 100,000 sq feet on offices, 25,000 sq
feet and 3 million dollars gross sales for mercantile space (store)
Dp-1 covers - fire, lightning, and internal explosion
dp1, 2, 3 all dwelling forms cover? - loss of rental income
third party - the injured party. to whom liability insurance pays claims
Personal property - property that can move eg furniture, clothes, paintings, etc
why is yacht like ocean marine, even though yacht is a personal line? - the structure of
the policy is the same; hull covers damage to the vessel. P and C covers liability and
workers comp. A yacht policy can be used for organized racing while ocean marine
cannot.
Medical Payments in boat owners insurance covers? - covers medical payments and
injury for insured and others on a personal boat. does not cover business use or
competitive racing.
Protection and Indemnity on Ocean Marine or Yacht - Liability and workers comp.
portion of ocean marine or yacht policies.
code section 770 - when buying property that is financed, a lender cannot force the
purchaser to buy insurance from a particular agent or broker
part of protection and indemnity - worker compensation in a yacht policy
elimination period - used in disability income health insurance. that time period benefits
are not paid. also called the waiting period
, did over should - did over should is the fraction of the loss the company pays. the
remaining is paid by the insured.( take what they did carry over what they should have
carried.
Occupational disability income contract - a disability income policy that will pay benefits
whether on or off the job.
Guaranteed renewable insurance contract - a life or health insurance policy that cannot
be changed except for the rate.
does the fair plan cover vandalism and mischief - yes, during civil unrest ( riots) you will
need it.
Misc Vehicle - Motorcycle atvs (not autos, not mobile equiptment)
Open Peril - all perils except those specifically excluded.
Whats the penalty for not carrying the amount required in a coinsurance clause? - you
become a coinsurer and pay a portion of the loss
Consequential loss - a consequence of a direct loss eg. a store loses business income
after a fire.
personnel loss - loss of an employee
do corporations have absolute liability? - Yes
What is embezzlement? - employee dishonesty, which is not covered by a crime policy
unless an employee dishonesty form is attatched. (does not cover shortages of
inventory).
Deductible - a specified amount of money that is paid by the insurer; pays money on the
claim.
What has a single limit? - Property Damage
Substandard Risk - classification of risk that is more than the normal acceptable risk
The fair plan - Distributes the risk among companies
Commercial Package - Common Conditions, Common Dec, and two or more modules
equal.
What is not considered transacting? - establishing a list of clients
QUESTIONS WITH ANSWERS 2025/2026 GRADED A+
eligibility/enrollment period - used in life and health group benefits without having to
prove insurability
symbol 9 - non-owned autos
the lender on a home is called - mortgagee or mortgage holder
multiple employer trust - a legal entity of small biz owners grouped together to buy
insurance
what percentage must vacant for a building to be called vacant? - 70%
size limits for business owners policy - 6 stories, 100,000 sq feet on offices, 25,000 sq
feet and 3 million dollars gross sales for mercantile space (store)
Dp-1 covers - fire, lightning, and internal explosion
dp1, 2, 3 all dwelling forms cover? - loss of rental income
third party - the injured party. to whom liability insurance pays claims
Personal property - property that can move eg furniture, clothes, paintings, etc
why is yacht like ocean marine, even though yacht is a personal line? - the structure of
the policy is the same; hull covers damage to the vessel. P and C covers liability and
workers comp. A yacht policy can be used for organized racing while ocean marine
cannot.
Medical Payments in boat owners insurance covers? - covers medical payments and
injury for insured and others on a personal boat. does not cover business use or
competitive racing.
Protection and Indemnity on Ocean Marine or Yacht - Liability and workers comp.
portion of ocean marine or yacht policies.
code section 770 - when buying property that is financed, a lender cannot force the
purchaser to buy insurance from a particular agent or broker
part of protection and indemnity - worker compensation in a yacht policy
elimination period - used in disability income health insurance. that time period benefits
are not paid. also called the waiting period
, did over should - did over should is the fraction of the loss the company pays. the
remaining is paid by the insured.( take what they did carry over what they should have
carried.
Occupational disability income contract - a disability income policy that will pay benefits
whether on or off the job.
Guaranteed renewable insurance contract - a life or health insurance policy that cannot
be changed except for the rate.
does the fair plan cover vandalism and mischief - yes, during civil unrest ( riots) you will
need it.
Misc Vehicle - Motorcycle atvs (not autos, not mobile equiptment)
Open Peril - all perils except those specifically excluded.
Whats the penalty for not carrying the amount required in a coinsurance clause? - you
become a coinsurer and pay a portion of the loss
Consequential loss - a consequence of a direct loss eg. a store loses business income
after a fire.
personnel loss - loss of an employee
do corporations have absolute liability? - Yes
What is embezzlement? - employee dishonesty, which is not covered by a crime policy
unless an employee dishonesty form is attatched. (does not cover shortages of
inventory).
Deductible - a specified amount of money that is paid by the insurer; pays money on the
claim.
What has a single limit? - Property Damage
Substandard Risk - classification of risk that is more than the normal acceptable risk
The fair plan - Distributes the risk among companies
Commercial Package - Common Conditions, Common Dec, and two or more modules
equal.
What is not considered transacting? - establishing a list of clients
