Texas Insurance License- QUIZ QUESTIONS EXAM
LATEST (2025) COMPLETE QUESTIONS With 100%
Verified Solutions,
Susie set fire to her house to collect the insurance. This is an example of a(n) -
..(answers)..MORAL HAZARDS
Henry's tires on his SUV are so worn that the steel belt is showing through the
tread. The condition of the tires is known as - ..(answers)..PHYSICAL HAZARDS
When a driver of an auto breaks the posted speed limit, the driver's liability
imposed by the law is known as - ..(answers)..ABOSLUTE LIABILITY
Under compensatory damages, medical expenses are an example of -
..(answers)..SPECIAL damages.
Josh attends a hockey game. While at the game he is hit in the head by the
hockey puck resulting in a broken cheek bone. Josh immediately sues the hockey
team for damages. What might be the most logical defense for the hockey team?
- ..(answers)..ASSUMPTION OF RISK
The Smith family is planning to build a new house. They want the house to be
constructed entirely of fire resistance materials. This construction type is an
example of a - ..(answers)..FIRE RESISTIVE building.
________ contracts are written for a specified amount and they list the value of
the insured property as agreed to by both the insured and the insurer at policy
,inception. - ..(answers)..Susie set fire to her house to collect the insurance. This is
an example of a(n) MORAL HAZARDS
Henry's tires on his SUV are so worn that the steel belt is showing through the
tread. The condition of the tires is known as - ..(answers)..PHYSICAL HAZARDS
When a driver of an auto breaks the posted speed limit, the driver's liability
imposed by the law is known as - ..(answers)..ABOSLUTE LIABILITY
Under compensatory damages, medical expenses are an example of -
..(answers)..SPECIAL damages.
Josh attends a hockey game. While at the game he is hit in the head by the
hockey puck resulting in a broken cheek bone. Josh immediately sues the hockey
team for damages. What might be the most logical defense for the hockey team?
- ..(answers)..ASSUMPTION OF RISK
The Smith family is planning to build a new house. They want the house to be
constructed entirely of fire resistance materials. This construction type is an
example of a - ..(answers)..FIRE RESISTIVE building.
______contracts are written for a specified amount and they list the value of the
insured property as agreed to by both the insured and the insurer at policy
inception. - ..(answers)..VALUED
, The ABC Company has several business locations. They want to cover all the
locations under one policy. They should purchase a(n) - ..(answers)..BLANKET
policy
A building has a market value of $100,000, a replacement cost of $80,000 and a
depreciated amount of $25,000. Based on these factors, what is the ACV amount
of the building? - ..(answers)..($80,000 - $25,000 = $55,000) Actual cash value, or
ACV is usually calculated by determining the item's replacement cost (what it
would cost to buy a replacement) and subtracting an amount for depreciation.
Here's what it looks like written as a formula: ACV = Replacement Cost -
Depreciation
Joe has just purchased a new house. He wants to obtain the broadest possible
insurance coverage. Joe should purchase a(n) - ..(answers)..SPECIAL FORMS
policy.
Which of the following is NOT a method by which an insured can collect for
damages? - ..(answers)..In general, the insured can collect the lesser of: Insurable
interest; Policy limits; Actual cash value; Cost to repair; or Replacement cost.
Which one of the following terms can be defined as a policy provision that omits
certain risks from coverage? - ..(answers)..EXCLUSIONS
Joe asked his insurance agent to explain the purpose of the conditions section of
his insurance policy. Joe's agent stated that it is used to _____. -
..(answers)..Policy conditions
LATEST (2025) COMPLETE QUESTIONS With 100%
Verified Solutions,
Susie set fire to her house to collect the insurance. This is an example of a(n) -
..(answers)..MORAL HAZARDS
Henry's tires on his SUV are so worn that the steel belt is showing through the
tread. The condition of the tires is known as - ..(answers)..PHYSICAL HAZARDS
When a driver of an auto breaks the posted speed limit, the driver's liability
imposed by the law is known as - ..(answers)..ABOSLUTE LIABILITY
Under compensatory damages, medical expenses are an example of -
..(answers)..SPECIAL damages.
Josh attends a hockey game. While at the game he is hit in the head by the
hockey puck resulting in a broken cheek bone. Josh immediately sues the hockey
team for damages. What might be the most logical defense for the hockey team?
- ..(answers)..ASSUMPTION OF RISK
The Smith family is planning to build a new house. They want the house to be
constructed entirely of fire resistance materials. This construction type is an
example of a - ..(answers)..FIRE RESISTIVE building.
________ contracts are written for a specified amount and they list the value of
the insured property as agreed to by both the insured and the insurer at policy
,inception. - ..(answers)..Susie set fire to her house to collect the insurance. This is
an example of a(n) MORAL HAZARDS
Henry's tires on his SUV are so worn that the steel belt is showing through the
tread. The condition of the tires is known as - ..(answers)..PHYSICAL HAZARDS
When a driver of an auto breaks the posted speed limit, the driver's liability
imposed by the law is known as - ..(answers)..ABOSLUTE LIABILITY
Under compensatory damages, medical expenses are an example of -
..(answers)..SPECIAL damages.
Josh attends a hockey game. While at the game he is hit in the head by the
hockey puck resulting in a broken cheek bone. Josh immediately sues the hockey
team for damages. What might be the most logical defense for the hockey team?
- ..(answers)..ASSUMPTION OF RISK
The Smith family is planning to build a new house. They want the house to be
constructed entirely of fire resistance materials. This construction type is an
example of a - ..(answers)..FIRE RESISTIVE building.
______contracts are written for a specified amount and they list the value of the
insured property as agreed to by both the insured and the insurer at policy
inception. - ..(answers)..VALUED
, The ABC Company has several business locations. They want to cover all the
locations under one policy. They should purchase a(n) - ..(answers)..BLANKET
policy
A building has a market value of $100,000, a replacement cost of $80,000 and a
depreciated amount of $25,000. Based on these factors, what is the ACV amount
of the building? - ..(answers)..($80,000 - $25,000 = $55,000) Actual cash value, or
ACV is usually calculated by determining the item's replacement cost (what it
would cost to buy a replacement) and subtracting an amount for depreciation.
Here's what it looks like written as a formula: ACV = Replacement Cost -
Depreciation
Joe has just purchased a new house. He wants to obtain the broadest possible
insurance coverage. Joe should purchase a(n) - ..(answers)..SPECIAL FORMS
policy.
Which of the following is NOT a method by which an insured can collect for
damages? - ..(answers)..In general, the insured can collect the lesser of: Insurable
interest; Policy limits; Actual cash value; Cost to repair; or Replacement cost.
Which one of the following terms can be defined as a policy provision that omits
certain risks from coverage? - ..(answers)..EXCLUSIONS
Joe asked his insurance agent to explain the purpose of the conditions section of
his insurance policy. Joe's agent stated that it is used to _____. -
..(answers)..Policy conditions
