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FX-PROPERTY AND CASUALTY EXAM
2025 QUESTIONS AND ANSWERS
To be considered an insurable risk, a loss may NOT be -
correct answer- catastrophic
Which of the following persons would be required to hold a
producer license? - correct answer- a nonresident agent who
negotiates insurance contracts
Which of the following is the oldest known type of insurance? -
correct answer- ocean marine
The contents coverage on a homeowners policy would pay how
much after the loss of one of a pair of golden candlesticks? -
correct answer- the difference in the actual cash value as a pair
and as a single
Which of the following additional perils is covered under both of
the Basic and Broad forms in dwelling policies? - correct
answer- internal explosion
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When would a misrepresentation on the insurance application
be considered fraud? - correct answer- If it is intentional and
material
A bond is written for a set limit, and the surety will be liable only
for this amount. This limit is known as the - correct answer-
penalty
In insurance, an offer is usually made when - correct answer-
the application is submitted
All of the following actions by a producer may be grounds for
license revocation or non-renewal EXCEPT - correct answer-
participating in controlled business
In personal auto policies, the term "you" refers to - correct
answer- the named insured
Business personal property coverage form covers all of the
following except: - correct answer- automobiles held for sale
FX-PROPERTY AND CASUALTY EXAM
2025 QUESTIONS AND ANSWERS
To be considered an insurable risk, a loss may NOT be -
correct answer- catastrophic
Which of the following persons would be required to hold a
producer license? - correct answer- a nonresident agent who
negotiates insurance contracts
Which of the following is the oldest known type of insurance? -
correct answer- ocean marine
The contents coverage on a homeowners policy would pay how
much after the loss of one of a pair of golden candlesticks? -
correct answer- the difference in the actual cash value as a pair
and as a single
Which of the following additional perils is covered under both of
the Basic and Broad forms in dwelling policies? - correct
answer- internal explosion
, 2 | Page
When would a misrepresentation on the insurance application
be considered fraud? - correct answer- If it is intentional and
material
A bond is written for a set limit, and the surety will be liable only
for this amount. This limit is known as the - correct answer-
penalty
In insurance, an offer is usually made when - correct answer-
the application is submitted
All of the following actions by a producer may be grounds for
license revocation or non-renewal EXCEPT - correct answer-
participating in controlled business
In personal auto policies, the term "you" refers to - correct
answer- the named insured
Business personal property coverage form covers all of the
following except: - correct answer- automobiles held for sale
