GEORGIA PROPERTY AND CASUALTY UPDATED CORE
EXAM MANUAL QUESTIONS AND ANSWERS GRADED
A+
✔✔An insured is driving her car through a residential area when she loses control and
crashes into a neighbors front porch the neighbor who is sitting on the porch is insured
the insured liability policy has a limit of 500,000 this amount applies to total of damages
for any bodily injury and property damage resulting from one accident which type of limit
of liability does the insured have - ✔✔Combined single
✔✔What term best describes the act of withholding information that would be crucial to
an underwriting decision - ✔✔Concealment
✔✔Which of the following protects consumers against the circulation of inaccurate or
obsolete personal or financial information - ✔✔The fair credit reporting act
✔✔All of the following are conditions commonly found in the insurance policy except -
✔✔Insuring agreement
✔✔An insurer neglects to pay a legitimate claim that is covered under the terms of the
policy which of the following insurance principles has the insurer violated -
✔✔Consideration
✔✔The part of the insurance contract that describes the covered perils and the nature
of coverage of the contractual agreement between the insurer and the insured is called
the - ✔✔Insuring agreement
✔✔Which of the following would modify the the original insurance contract by either
adding or removing coverage - ✔✔Endorsements
✔✔An insurance contract must contain all of the following to be considered legally
binding except - ✔✔Beneficiary's consent
✔✔In terms of party's which of the following does not describe a competent party -
✔✔The person must at least have completed secondary education
✔✔In insurance an offer is usually made when - ✔✔The completed application is
submitted
✔✔When an insured makes truthful statements on the application for insurance and
repays the required premium it is known as which of the following - ✔✔Consideration
, ✔✔An agent try's to sell insurance over the phone to an applicant who seems to be
confused but is eventually able to give enough information for the applicant to be
completed after the policy was issued the agent talked to the insureds family and they
explained that the insured was recovering from a. Surgery and might have been under
the influence of medication at the time of the application which of the following is true -
✔✔The policy may be voided but if it can't be proven that the applicant was not capable
of making a buying decision at the time of the application
✔✔Which of the following describe a transfer of a legal right or interest in an insurance
policy - ✔✔Assignment
✔✔The proof of loss statement must be - ✔✔In writing
✔✔The policy conditions define - ✔✔How party's to the contract must act following a
loss
✔✔Which of the following clauses establishes the procedure for determining the amount
of a loss when the insurer and the insured cannot agree on the value of property or
amount of loss - ✔✔Appraisal clause
✔✔Which of the following is covered under the camera and musical instruments dealers
floaters - ✔✔A customers camera left at a camera shop for repair
✔✔The liability coverage of the business owners policy is written as one -
✔✔Businesseowners liability coverage form
✔✔A mobile homeowners policy is structured the same as - ✔✔Homeowners policy
✔✔Under the provisions of the business income coverage form all of the following are
true except - ✔✔The insured is rein versed for the loss from the date of loss to date of
restoration or policy expiration date which ever comes first
✔✔Which coverage form would provide coverage for all in going and outgoing
shipments - ✔✔Annual transit
✔✔An insured covered under a mobile homeowners policy wants to move the location
of the mobile home which of the following must the insured obtain from insurer -
✔✔Transportation permission to move endorsements
✔✔A unique feature in a Bailee form is that it covers - ✔✔Customers property wether or
not the insured has been legitimate
EXAM MANUAL QUESTIONS AND ANSWERS GRADED
A+
✔✔An insured is driving her car through a residential area when she loses control and
crashes into a neighbors front porch the neighbor who is sitting on the porch is insured
the insured liability policy has a limit of 500,000 this amount applies to total of damages
for any bodily injury and property damage resulting from one accident which type of limit
of liability does the insured have - ✔✔Combined single
✔✔What term best describes the act of withholding information that would be crucial to
an underwriting decision - ✔✔Concealment
✔✔Which of the following protects consumers against the circulation of inaccurate or
obsolete personal or financial information - ✔✔The fair credit reporting act
✔✔All of the following are conditions commonly found in the insurance policy except -
✔✔Insuring agreement
✔✔An insurer neglects to pay a legitimate claim that is covered under the terms of the
policy which of the following insurance principles has the insurer violated -
✔✔Consideration
✔✔The part of the insurance contract that describes the covered perils and the nature
of coverage of the contractual agreement between the insurer and the insured is called
the - ✔✔Insuring agreement
✔✔Which of the following would modify the the original insurance contract by either
adding or removing coverage - ✔✔Endorsements
✔✔An insurance contract must contain all of the following to be considered legally
binding except - ✔✔Beneficiary's consent
✔✔In terms of party's which of the following does not describe a competent party -
✔✔The person must at least have completed secondary education
✔✔In insurance an offer is usually made when - ✔✔The completed application is
submitted
✔✔When an insured makes truthful statements on the application for insurance and
repays the required premium it is known as which of the following - ✔✔Consideration
, ✔✔An agent try's to sell insurance over the phone to an applicant who seems to be
confused but is eventually able to give enough information for the applicant to be
completed after the policy was issued the agent talked to the insureds family and they
explained that the insured was recovering from a. Surgery and might have been under
the influence of medication at the time of the application which of the following is true -
✔✔The policy may be voided but if it can't be proven that the applicant was not capable
of making a buying decision at the time of the application
✔✔Which of the following describe a transfer of a legal right or interest in an insurance
policy - ✔✔Assignment
✔✔The proof of loss statement must be - ✔✔In writing
✔✔The policy conditions define - ✔✔How party's to the contract must act following a
loss
✔✔Which of the following clauses establishes the procedure for determining the amount
of a loss when the insurer and the insured cannot agree on the value of property or
amount of loss - ✔✔Appraisal clause
✔✔Which of the following is covered under the camera and musical instruments dealers
floaters - ✔✔A customers camera left at a camera shop for repair
✔✔The liability coverage of the business owners policy is written as one -
✔✔Businesseowners liability coverage form
✔✔A mobile homeowners policy is structured the same as - ✔✔Homeowners policy
✔✔Under the provisions of the business income coverage form all of the following are
true except - ✔✔The insured is rein versed for the loss from the date of loss to date of
restoration or policy expiration date which ever comes first
✔✔Which coverage form would provide coverage for all in going and outgoing
shipments - ✔✔Annual transit
✔✔An insured covered under a mobile homeowners policy wants to move the location
of the mobile home which of the following must the insured obtain from insurer -
✔✔Transportation permission to move endorsements
✔✔A unique feature in a Bailee form is that it covers - ✔✔Customers property wether or
not the insured has been legitimate
