XCEL SOLUTIONS PROPERTY AND
CASUALTY FINAL EXAM PAPER 2026
COMPLETE QUESTIONS AND SOLUTIONS
VERIFIED
⩥ Which of the following incidents would not be excluded under a DP-3
policy? Answer: Burglary of a property that was vacant for 30
consecutive days
⩥ Which of the following are losses excluded under Coverage F?
Answer: An individual who is eligible to receive disability insurance
⩥ Which of the following will not provide a premium discount from
standard market workers comp insurance? Answer: Assigned Risk Plan
⩥ The face amount of a Surety bond is called the: Answer: Penalty
⩥ M has opened up his business, Tractors & Semis Sales, LLC. His
stock will be covered while it is being transported, if he: Answer: Adds
the equipment dealers floater
⩥ All of the following are correct about the Commercial Endorsement
regarding Spoilage EXCEPT: Answer: Coverage extends to stock off
premises
,⩥ What is a certificate of authority? Answer: The license required for an
insurer to conduct business in the state
⩥ A licensed producer who lives in another state & transacts insurance
in AZ is called: Answer: A Non-Resident Producer
⩥ Any of the following may be an unfair claims settlement practice
EXCEPT: Answer: Refusing to pay persons bringing false or fraudulent
claims
⩥ What is the best description of an applicant to the AZ auto insurance
plan? Answer: An applicant in good-faith entitled to coverage but unable
to obtain coverage through ordinary methods
⩥ Which statement regarding the identification of the producer rule is
false? Answer: A policy is invalidated if the producer is not identified as
required by law
⩥ If an insured's dog bites a guest that results in a settlement amount of
$150,000 plus attorney fees of $70,000. How much is the insured
personally responsible to pay if their homeowners policy Coverage E
amount was $100,000? Answer: $50,000
, ⩥ J has a policy that pays a maximum single dollar amount for property
damage & death or bodily injury. Which Limit of Liability does J's
policy have? Answer: Combined Single Limit
⩥ E is a professional musician who owns a vintage guitar with a current
value of $20,000. E should properly insure this guitar with a(n): Answer:
Personal Articles Floater
⩥ For policyholders in the same risk classification, it is unlawful to:
Answer: Charge different premiums
⩥ All of the following are main elements of a commercial package
policy, EXCEPT: Answer: Liability
⩥ Which of the following homeowner forms pays for loss on a
functional replacement cost basis? Answer: HO-8
⩥ A motor vehivle liability policy must state all of the following in order
to remain in effect, except? Answer: Whether the policy has workers
comp rider for employees working on the property
⩥ H builds a 3 flat building that he will rent out to tenants & is the least
fire resistant construction available. Under ISO construction guidelines,
H's building would be classified as: Answer: Frame
CASUALTY FINAL EXAM PAPER 2026
COMPLETE QUESTIONS AND SOLUTIONS
VERIFIED
⩥ Which of the following incidents would not be excluded under a DP-3
policy? Answer: Burglary of a property that was vacant for 30
consecutive days
⩥ Which of the following are losses excluded under Coverage F?
Answer: An individual who is eligible to receive disability insurance
⩥ Which of the following will not provide a premium discount from
standard market workers comp insurance? Answer: Assigned Risk Plan
⩥ The face amount of a Surety bond is called the: Answer: Penalty
⩥ M has opened up his business, Tractors & Semis Sales, LLC. His
stock will be covered while it is being transported, if he: Answer: Adds
the equipment dealers floater
⩥ All of the following are correct about the Commercial Endorsement
regarding Spoilage EXCEPT: Answer: Coverage extends to stock off
premises
,⩥ What is a certificate of authority? Answer: The license required for an
insurer to conduct business in the state
⩥ A licensed producer who lives in another state & transacts insurance
in AZ is called: Answer: A Non-Resident Producer
⩥ Any of the following may be an unfair claims settlement practice
EXCEPT: Answer: Refusing to pay persons bringing false or fraudulent
claims
⩥ What is the best description of an applicant to the AZ auto insurance
plan? Answer: An applicant in good-faith entitled to coverage but unable
to obtain coverage through ordinary methods
⩥ Which statement regarding the identification of the producer rule is
false? Answer: A policy is invalidated if the producer is not identified as
required by law
⩥ If an insured's dog bites a guest that results in a settlement amount of
$150,000 plus attorney fees of $70,000. How much is the insured
personally responsible to pay if their homeowners policy Coverage E
amount was $100,000? Answer: $50,000
, ⩥ J has a policy that pays a maximum single dollar amount for property
damage & death or bodily injury. Which Limit of Liability does J's
policy have? Answer: Combined Single Limit
⩥ E is a professional musician who owns a vintage guitar with a current
value of $20,000. E should properly insure this guitar with a(n): Answer:
Personal Articles Floater
⩥ For policyholders in the same risk classification, it is unlawful to:
Answer: Charge different premiums
⩥ All of the following are main elements of a commercial package
policy, EXCEPT: Answer: Liability
⩥ Which of the following homeowner forms pays for loss on a
functional replacement cost basis? Answer: HO-8
⩥ A motor vehivle liability policy must state all of the following in order
to remain in effect, except? Answer: Whether the policy has workers
comp rider for employees working on the property
⩥ H builds a 3 flat building that he will rent out to tenants & is the least
fire resistant construction available. Under ISO construction guidelines,
H's building would be classified as: Answer: Frame
