PROPERTY & CASUALTY QUESTIONS GA EXAM
100% PASS
The arbitration clause in a personal auto policy would be used in which of the following
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
circumstances?
II! II!
A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
regarding the settlement of a claim.
II! II! II! II! II! II! II!
B. The insured and an injured 3rd party cannot reach an agreement regarding the settlement of a
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
claim.
II!
C. The court have ruled against an injured 3th party. - Correct Answers B. The insured and an
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
injured 3rd party cannot reach an agreement regarding the settlement of a claim.
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Which of the following bonds protects an employer fro the actions of dishonest employees?
II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. Surety
II!
B. Fidelity - Correct Answers B.Fidelity
II! II! II! II! II! II! II! II! II! II!
II! A dwelling has been vacant for more than 60 consecutive days. Which of the following would
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! most likely NOT be covered?
II! II! II! II! II!
A. Vandalism
II! II!
B. Smoke
II!
C. FireII!
D. Falling Objects - Correct Answers A. Vandalism
II! II! II! II! II! II! II! II! II! II! II! II!
,II! While in her backyard, Susan injuries her foot on a rake left by her landscapers. What part of the
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! CGL policy will protect the owner of the landscaping company?
II! II! II! II! II! II! II! II! II!
A. Operations exposure
II! II!
B. Products Liability
II! II! II!
C. Completed operations liability
II! II! II! II!
D. Premises exposure - Correct Answers A. Operations exposure
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Premium computation is found in which section of the workers' compensation policy?
II! II! II! II! II! II! II! II! II! II! II!
A. Part 3
II! II!
B. Part 5
II! II!
C. Part 1
II! II!
D. Part 2 - Correct Answers B. Part 5
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Once an injured employee has received benefits provided under workers' compensation, that
II! II! II! II! II! II! II! II! II! II! II!
II! employee may not file a suit against her employer to gain additional benefits. This is the def. of
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. Contributory negligence
II! II! II!
B. the fellow servant rule
II! II! II! II! II!
C. Assumption of risk
II! II! II!
D. Exclusive remedy - Correct Answers D. executive remedy
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! The purpose of the basic extended reporting period in a commercial general liability (CGL) "
II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! claims-made" policy is to provide II! II! II! II! II!
A. additional time for the insured to make monthly reports of information for rating purposes
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
,B. coverage for events that have happened before the policy became effective
II! II! II! II! II! II! II! II! II! II! II! II!
C. coverage for events that happened up to 5yrs after a claims-made policy has expired
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
D Coverage for events that have happened after the retroactive date, but which were not within
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
60days of policy expiration - Correct Answers D. Coverage for events that have happened after
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
the retroactive date, but which were not within 60days of policy expiration
II! II! II! II! II! II! II! II! II! II! II! II!
II! What is the purpose of the employer's liability section of a workers' comp plicy ( part 2) ?
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. pay for lawsuits filed by an employer
II! II! II! II! II! II! II! II!
B. Pay for benefits that are normally required by state workers' comp laws
II! II! II! II! II! II! II! II! II! II! II! II! II!
C. Pa for 3rd-party claims filed against a negligent employer - Correct Answers B. Pay for
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
benefits that are normally required by state workers' comp laws
II! II! II! II! II! II! II! II! II! II!
II! Truckers who transport hazardous materials are required to have an endorsement called
II! II! II! II! II! II! II! II! II! II! II! II!
A. Form MCS-90II! II!
B. Form W-2 II! II!
C. Form MCS-70
II! II!
D. Form 1099 - Correct Answers A. Form MCS-90
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Which of the following is NOT a use of auto symbols in the commercial auto policy?
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. To determine how coverage will apply to vehicles acquired after the policy effective date
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
B. To determine which rating territory applies to the covered autos
II! II! II! II! II! II! II! II! II! II! II!
C. To custom the policy to the insured's needs by selective the appropriate coverage - Correct
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
Answers B. To determine which rating territory applies to the covered autos
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
, II! Coverage for fungi, wet rot, and bacteria on a business-owner policy is limited toII! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. 12k per policy limit
II! II! II! II! II!
B. 15k per policy limit
II! II! II! II! II!
C. 15k per occurrence
II! II! II!
D. 25K per policy period - Correct Answers B. 15k per policy limit
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! The insured's property ins policy has a deductible clause. This Means that
II! II! II! II! II! II! II! II! II! II! II! II!
A. the insured deducts any claim payment recieed from the next ins
II! II! II! II! II! II! II! II! II! II! II!
B. any losses paid a third party are deducted from the policy limit
II! II! II! II! II! II! II! II! II! II! II! II! II!
C. The insured must pay a certain amt for each loss incurred under the policy - Correct Answers
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
C. The insured must pay a certain amt for each loss incurred under the policy
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! All of the following are insured contract under the commercial general Liability (CGL) policy
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! EXCEPT
II! A. lease of business equipment
II! II! II! II! II!
B. elevator maintenance agreement
II! II! II!
C. agreement to indemnify a municipality
II! II! II! II! II! II!
D railroad sidetrack agreement - Correct Answers A. lease of business equipment
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Which is a characteristic of the businessowners policy (BOP?
II! II! II! II! II! II! II! II! II!
A. It is an alternative to a commercial package policy
II! II! II! II! II! II! II! II! II! II!
B It may be written monoline only.
II! II! II! II! II! II!
C It may only be written as part of a commercial package policy.
II! II! II! II! II! II! II! II! II! II! II! II!
100% PASS
The arbitration clause in a personal auto policy would be used in which of the following
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
circumstances?
II! II!
A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
regarding the settlement of a claim.
II! II! II! II! II! II! II!
B. The insured and an injured 3rd party cannot reach an agreement regarding the settlement of a
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
claim.
II!
C. The court have ruled against an injured 3th party. - Correct Answers B. The insured and an
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
injured 3rd party cannot reach an agreement regarding the settlement of a claim.
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Which of the following bonds protects an employer fro the actions of dishonest employees?
II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. Surety
II!
B. Fidelity - Correct Answers B.Fidelity
II! II! II! II! II! II! II! II! II! II!
II! A dwelling has been vacant for more than 60 consecutive days. Which of the following would
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! most likely NOT be covered?
II! II! II! II! II!
A. Vandalism
II! II!
B. Smoke
II!
C. FireII!
D. Falling Objects - Correct Answers A. Vandalism
II! II! II! II! II! II! II! II! II! II! II! II!
,II! While in her backyard, Susan injuries her foot on a rake left by her landscapers. What part of the
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! CGL policy will protect the owner of the landscaping company?
II! II! II! II! II! II! II! II! II!
A. Operations exposure
II! II!
B. Products Liability
II! II! II!
C. Completed operations liability
II! II! II! II!
D. Premises exposure - Correct Answers A. Operations exposure
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Premium computation is found in which section of the workers' compensation policy?
II! II! II! II! II! II! II! II! II! II! II!
A. Part 3
II! II!
B. Part 5
II! II!
C. Part 1
II! II!
D. Part 2 - Correct Answers B. Part 5
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Once an injured employee has received benefits provided under workers' compensation, that
II! II! II! II! II! II! II! II! II! II! II!
II! employee may not file a suit against her employer to gain additional benefits. This is the def. of
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. Contributory negligence
II! II! II!
B. the fellow servant rule
II! II! II! II! II!
C. Assumption of risk
II! II! II!
D. Exclusive remedy - Correct Answers D. executive remedy
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! The purpose of the basic extended reporting period in a commercial general liability (CGL) "
II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! claims-made" policy is to provide II! II! II! II! II!
A. additional time for the insured to make monthly reports of information for rating purposes
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
,B. coverage for events that have happened before the policy became effective
II! II! II! II! II! II! II! II! II! II! II! II!
C. coverage for events that happened up to 5yrs after a claims-made policy has expired
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
D Coverage for events that have happened after the retroactive date, but which were not within
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
60days of policy expiration - Correct Answers D. Coverage for events that have happened after
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
the retroactive date, but which were not within 60days of policy expiration
II! II! II! II! II! II! II! II! II! II! II! II!
II! What is the purpose of the employer's liability section of a workers' comp plicy ( part 2) ?
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. pay for lawsuits filed by an employer
II! II! II! II! II! II! II! II!
B. Pay for benefits that are normally required by state workers' comp laws
II! II! II! II! II! II! II! II! II! II! II! II! II!
C. Pa for 3rd-party claims filed against a negligent employer - Correct Answers B. Pay for
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
benefits that are normally required by state workers' comp laws
II! II! II! II! II! II! II! II! II! II!
II! Truckers who transport hazardous materials are required to have an endorsement called
II! II! II! II! II! II! II! II! II! II! II! II!
A. Form MCS-90II! II!
B. Form W-2 II! II!
C. Form MCS-70
II! II!
D. Form 1099 - Correct Answers A. Form MCS-90
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Which of the following is NOT a use of auto symbols in the commercial auto policy?
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. To determine how coverage will apply to vehicles acquired after the policy effective date
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
B. To determine which rating territory applies to the covered autos
II! II! II! II! II! II! II! II! II! II! II!
C. To custom the policy to the insured's needs by selective the appropriate coverage - Correct
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
Answers B. To determine which rating territory applies to the covered autos
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
, II! Coverage for fungi, wet rot, and bacteria on a business-owner policy is limited toII! II! II! II! II! II! II! II! II! II! II! II! II! II!
A. 12k per policy limit
II! II! II! II! II!
B. 15k per policy limit
II! II! II! II! II!
C. 15k per occurrence
II! II! II!
D. 25K per policy period - Correct Answers B. 15k per policy limit
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! The insured's property ins policy has a deductible clause. This Means that
II! II! II! II! II! II! II! II! II! II! II! II!
A. the insured deducts any claim payment recieed from the next ins
II! II! II! II! II! II! II! II! II! II! II!
B. any losses paid a third party are deducted from the policy limit
II! II! II! II! II! II! II! II! II! II! II! II! II!
C. The insured must pay a certain amt for each loss incurred under the policy - Correct Answers
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
C. The insured must pay a certain amt for each loss incurred under the policy
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! All of the following are insured contract under the commercial general Liability (CGL) policy
II! II! II! II! II! II! II! II! II! II! II! II! II!
II! EXCEPT
II! A. lease of business equipment
II! II! II! II! II!
B. elevator maintenance agreement
II! II! II!
C. agreement to indemnify a municipality
II! II! II! II! II! II!
D railroad sidetrack agreement - Correct Answers A. lease of business equipment
II! II! II! II! II! II! II! II! II! II! II! II! II! II! II! II!
II! Which is a characteristic of the businessowners policy (BOP?
II! II! II! II! II! II! II! II! II!
A. It is an alternative to a commercial package policy
II! II! II! II! II! II! II! II! II! II!
B It may be written monoline only.
II! II! II! II! II! II!
C It may only be written as part of a commercial package policy.
II! II! II! II! II! II! II! II! II! II! II! II!
