TEXAS INSURANCE LICENSE EXAM 2024 ACTUAL
EXAM 2 VERSIONS (VERSION A AND B) COMPLETE
QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
Under a commercial property policy with the Value Reporting Form Endorsement,
which of the following is NOT correct? - ans -The insured is only required to report
80% of value of the property
Which of the following flood losses would not be covered under an NFIP policy? -
ans -A water main in the street breaks, flooding the insured's basement
The Scheduled Personal Property Endorsement on a Homeowners policy may
insure all of the following types of property, except: - ans -Rare or exotic animals
A Builders Risk policy insuring a commercial building under construction
automatically ends how many days after construction is complete? - ans -90
After an accident that causes bodily injury, Section II of a Homeowners policy will
cover the costs of first aid provided to all of the following parties, except: - ans -
An insured injured on the residence premises
Which of the following is a correct statement about a Boatowners policy? - ans -It
provides both property and liability coverage, similar to a Personal Auto policy
Under Commercial Auto policies, an auto can include a self-propelled vehicle with
permanently attached: - ans -Cherry picker
All of the following are Coverage Extensions under the Building and Personal
Property Coverage Form, except: - ans -Inflation Guard
Which of the following residents in the insured's dwelling is eligible to receive
medical payments under Section II of a Homeowners policy? - ans -A residence
employee injured while performing work duties
, Under a Homeowners policy, medical payments coverage will apply to medical
expenses incurred after an accident within: - ans -Three years
A Personal Auto policy's liability coverage would protect the insured in the event
that: - ans -The named insured's resident family member injures someone in an
accident while using a covered auto without the insured's permission
Under the Basic Dwelling Form, when is damage caused by vandalism included as
covered peril? - ans -When the VMM Endorsement is added to the DP-1
Q has an $85,000 DP-2 policy for a 2-family residential dwelling. The dwelling has
a replacement cost of $100,000. After a loss to the dwelling, Q makes claim for
the actual cash value of the loss, and later plans to recover the remaining
amounts up to the replacement cost of the damage. Q may do this by notifying
the insurer of their intent to repair the damaged building within: - ans -180 days
after the loss
Which person is not typically covered by a policy, but can be included in coverage
by endorsement when they have insurable interest in property? - ans -Additional
insured
A licensed insurance adjuster in Texas is responsible for which of the following
activities? - ans -Negotiating claim settlements
Which of the following expenses would not be reimbursed under the Workers'
Compensation policy? - ans -Loss of insured's earnings because the insurer
requested the insured come to court
All of the following are examples of a blanket limit of insurance, except: - ans -A
single limit applies to building coverage for one building at a single location
In Texas, an employee will be eligible for lost wages how many days after the date
of injury? - ans -8
Which part of a property insurance policy describes the perils? - ans -Insuring
Agreement
EXAM 2 VERSIONS (VERSION A AND B) COMPLETE
QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
Under a commercial property policy with the Value Reporting Form Endorsement,
which of the following is NOT correct? - ans -The insured is only required to report
80% of value of the property
Which of the following flood losses would not be covered under an NFIP policy? -
ans -A water main in the street breaks, flooding the insured's basement
The Scheduled Personal Property Endorsement on a Homeowners policy may
insure all of the following types of property, except: - ans -Rare or exotic animals
A Builders Risk policy insuring a commercial building under construction
automatically ends how many days after construction is complete? - ans -90
After an accident that causes bodily injury, Section II of a Homeowners policy will
cover the costs of first aid provided to all of the following parties, except: - ans -
An insured injured on the residence premises
Which of the following is a correct statement about a Boatowners policy? - ans -It
provides both property and liability coverage, similar to a Personal Auto policy
Under Commercial Auto policies, an auto can include a self-propelled vehicle with
permanently attached: - ans -Cherry picker
All of the following are Coverage Extensions under the Building and Personal
Property Coverage Form, except: - ans -Inflation Guard
Which of the following residents in the insured's dwelling is eligible to receive
medical payments under Section II of a Homeowners policy? - ans -A residence
employee injured while performing work duties
, Under a Homeowners policy, medical payments coverage will apply to medical
expenses incurred after an accident within: - ans -Three years
A Personal Auto policy's liability coverage would protect the insured in the event
that: - ans -The named insured's resident family member injures someone in an
accident while using a covered auto without the insured's permission
Under the Basic Dwelling Form, when is damage caused by vandalism included as
covered peril? - ans -When the VMM Endorsement is added to the DP-1
Q has an $85,000 DP-2 policy for a 2-family residential dwelling. The dwelling has
a replacement cost of $100,000. After a loss to the dwelling, Q makes claim for
the actual cash value of the loss, and later plans to recover the remaining
amounts up to the replacement cost of the damage. Q may do this by notifying
the insurer of their intent to repair the damaged building within: - ans -180 days
after the loss
Which person is not typically covered by a policy, but can be included in coverage
by endorsement when they have insurable interest in property? - ans -Additional
insured
A licensed insurance adjuster in Texas is responsible for which of the following
activities? - ans -Negotiating claim settlements
Which of the following expenses would not be reimbursed under the Workers'
Compensation policy? - ans -Loss of insured's earnings because the insurer
requested the insured come to court
All of the following are examples of a blanket limit of insurance, except: - ans -A
single limit applies to building coverage for one building at a single location
In Texas, an employee will be eligible for lost wages how many days after the date
of injury? - ans -8
Which part of a property insurance policy describes the perils? - ans -Insuring
Agreement
