Washington State Insurance Property & Casualty Exam Questions with Correct Answers Bundled Package

Assignment Correct Answer The transfer of a policy to another party. Often done when commercial property is sold to a new owner. Building & Personal Property (BPP) Correct Answer The commercial property policy for larger businesses. Business Income Policy Correct Answer A commercial policy cov...

Risk Management Tools (STARR) Correct Answer 1. Share: Buy insurance, share in the loss when you pay the deducible. 2. Transfer: The risk is transferred to an insurance company. 3. Avoidance: Watch for and avoid any potential risk. 4. Retention: You pay for any losses (common for small losses). ...

Punitive damages are intended to do all of the following EXCEPT 1. Compensate for actual financial losses. 2. Discourage others from doing wrong. 3. Discipline the insured. 4. Make an example of bad behavior. Correct Answer compensate for actual financial losses When an insured select...

If a building under a BPP has been vacant over 60 days, the BPP will cover? Correct Answer Fire, Wind, Explosion, and Volcano are all covered after 60 days of vacancy A CGL provides liability coverage for: Correct Answer A person whose reputation is harmed by the insured's innocent dissemination...