Xcel Ohio Property & Casualty Insurance Exam Questions AND
Correct Answers
A contract is considered void in all of the following situations EXCEPT
- ✔✔When consideration is unequal
A larger business with varied property and casualty insurance needs is
likely best served by: - ✔✔a commercial package policy
A notice sent to a prospective insured by a controlling producer must
include all the following actions Except? - ✔✔Deliver a written notice
to the insured detailing the nonreceipt of commissions based upon
the insurance placed.
According to a Businessowners policy conditions section, changes
must be made in writing as in endorsement by the _____ insured -
✔✔First Named
According to Section III of BOP, the insurer can make warranted
changes to premium (subject to an audit): - ✔✔after the close of the
coverage period
According to the Homeowners Endorsement HO 01 34, Special
Provisions for Ohio, an insurer may cancel a policy after it has been in
force for 60 days for all of the following reasons, except - ✔✔The
insurer needs to review the coverage following a claim
, All of the following are conditions of a homeowners policy found in
BOTH Sections I and II, EXCEPT: - ✔✔Appraisal
All of the following are correct about the Commercial endorsement
regarding Spoilage EXCEPT: - ✔✔Coverage extends to stock off
premises
All of the following statements about Workers Compensation are
correct, EXCEPT: - ✔✔In all states common law defenses may be used
to defeat a Workers
Compensation claim brought by an employee.
All of the following statements are CORRECT regarding interest
EXCEPT: - ✔✔The insured must have a speculative risk in the property
All of the following would be defined as a business under HO policies
EXCEPT - ✔✔The year before coverage, J made $1,700 selling her
home made buttons online.
An agreement is reached when an insurance contract is formed.
Which of the following is NOT considered to be an element of an
agreement? - ✔✔Equity
Correct Answers
A contract is considered void in all of the following situations EXCEPT
- ✔✔When consideration is unequal
A larger business with varied property and casualty insurance needs is
likely best served by: - ✔✔a commercial package policy
A notice sent to a prospective insured by a controlling producer must
include all the following actions Except? - ✔✔Deliver a written notice
to the insured detailing the nonreceipt of commissions based upon
the insurance placed.
According to a Businessowners policy conditions section, changes
must be made in writing as in endorsement by the _____ insured -
✔✔First Named
According to Section III of BOP, the insurer can make warranted
changes to premium (subject to an audit): - ✔✔after the close of the
coverage period
According to the Homeowners Endorsement HO 01 34, Special
Provisions for Ohio, an insurer may cancel a policy after it has been in
force for 60 days for all of the following reasons, except - ✔✔The
insurer needs to review the coverage following a claim
, All of the following are conditions of a homeowners policy found in
BOTH Sections I and II, EXCEPT: - ✔✔Appraisal
All of the following are correct about the Commercial endorsement
regarding Spoilage EXCEPT: - ✔✔Coverage extends to stock off
premises
All of the following statements about Workers Compensation are
correct, EXCEPT: - ✔✔In all states common law defenses may be used
to defeat a Workers
Compensation claim brought by an employee.
All of the following statements are CORRECT regarding interest
EXCEPT: - ✔✔The insured must have a speculative risk in the property
All of the following would be defined as a business under HO policies
EXCEPT - ✔✔The year before coverage, J made $1,700 selling her
home made buttons online.
An agreement is reached when an insurance contract is formed.
Which of the following is NOT considered to be an element of an
agreement? - ✔✔Equity
