PROPERTY & CASUALTY TENNESSEE
STATE LICENSING EXAM QUESTIONS
& ACCURATE ANSWERS RATED 100%
CORRECT
hazard that arises from the property itself - Correct Answer ✔✔ Physical Hazard
person driving crazy because they have insurance - Correct Answer ✔✔ Morale Hazard
create a loss situation to collect from insurance company - Correct Answer ✔✔ Moral
Hazard
contingent on a certain event that provides for unequal transfer of value between parties
- Correct Answer ✔✔ Aleatory
one party has greater power over the other in the contract - Correct Answer ✔✔
Contract of Adhesion
outside support walls, roof and floors are made of wood or other combustible materials
exterior is stucco or brick veneer
interior is lath and plaster - Correct Answer ✔✔ Class 1-Frame
outside support walls are made of non-combustible materials and the roof and floor are
made of combustible materials - Correct Answer ✔✔ Class 2-Joist and Masonry
wood or other materials that easily catch fire - Correct Answer ✔✔ Combustible
Materials
are materials like concrete, stone, brick, or metal that do not easily catch fire - Correct
Answer ✔✔ Noncombustible Materials
everything is constructed of and supported by noncombustible materials - Correct
Answer ✔✔ Class 3-Noncombustible
exterior walls constructed of masonry and the roof and floor are constructed of
noncombustible materials - Correct Answer ✔✔ Class 4- Masonry Noncombustible
everything is constructed of masonry or fire material with a fire resistance rating of 2
hours or less - Correct Answer ✔✔ Class 5- Modified Fire Resistive
, everything is constructed of masonry or fire resistive material rated of 2 hours or more -
Correct Answer ✔✔ Class 6- Fire Resistive
specifies the rights and duties of the mortgagee (bank or other lender) under the policy -
Correct Answer ✔✔ Mortgagee/ Loss Payable Condition
is open perils coverage on personal property usually in a home - Correct Answer ✔✔
Personal Property Form
insures personal property while traveling - Correct Answer ✔✔ Personal Effects Form
provides coverage for 9 optional classes of property - Correct Answer ✔✔ Personal
Articles Form
(jewelry, furs, cameras, musical instruments, silverware, golf equipment, fine arts,
stamps, and coins)
symbol for customers autos left for service - Correct Answer ✔✔ Symbol 30
symbol for coverage for auto dealers - Correct Answer ✔✔ Symbol 31
symbol for trailers borrowed or leased by the insured - Correct Answer ✔✔ Symbol 48
symbol for trailers owned or hired by the insured - Correct Answer ✔✔ Symbol 49
covers losses that are sustained at any time and discovered during the policy period or
within 60 days after the expiration date - Correct Answer ✔✔ Discovery Form
promises to do something - Correct Answer ✔✔ Principal
party that agrees to be responsible for loss - Correct Answer ✔✔ Surety
party to whom the principal makes the promise - Correct Answer ✔✔ Obligee
cover each employee on the policy schedule - Correct Answer ✔✔ Name Schedule
Bonds
list positions that are covered - Correct Answer ✔✔ Position Schedule Bonds
covers dishonest employees acting separately or together by position and the limit
applies to each loss - Correct Answer ✔✔ Commercial Blanket Bonds
the bonds limit applies separately to each employee involved in a loss - Correct Answer
✔✔ Blanket Position Basis
is the part of the workers comp section that promises to pay all compensation and other
benefits required of the insured - Correct Answer ✔✔ Part 1- Workers Compensation
STATE LICENSING EXAM QUESTIONS
& ACCURATE ANSWERS RATED 100%
CORRECT
hazard that arises from the property itself - Correct Answer ✔✔ Physical Hazard
person driving crazy because they have insurance - Correct Answer ✔✔ Morale Hazard
create a loss situation to collect from insurance company - Correct Answer ✔✔ Moral
Hazard
contingent on a certain event that provides for unequal transfer of value between parties
- Correct Answer ✔✔ Aleatory
one party has greater power over the other in the contract - Correct Answer ✔✔
Contract of Adhesion
outside support walls, roof and floors are made of wood or other combustible materials
exterior is stucco or brick veneer
interior is lath and plaster - Correct Answer ✔✔ Class 1-Frame
outside support walls are made of non-combustible materials and the roof and floor are
made of combustible materials - Correct Answer ✔✔ Class 2-Joist and Masonry
wood or other materials that easily catch fire - Correct Answer ✔✔ Combustible
Materials
are materials like concrete, stone, brick, or metal that do not easily catch fire - Correct
Answer ✔✔ Noncombustible Materials
everything is constructed of and supported by noncombustible materials - Correct
Answer ✔✔ Class 3-Noncombustible
exterior walls constructed of masonry and the roof and floor are constructed of
noncombustible materials - Correct Answer ✔✔ Class 4- Masonry Noncombustible
everything is constructed of masonry or fire material with a fire resistance rating of 2
hours or less - Correct Answer ✔✔ Class 5- Modified Fire Resistive
, everything is constructed of masonry or fire resistive material rated of 2 hours or more -
Correct Answer ✔✔ Class 6- Fire Resistive
specifies the rights and duties of the mortgagee (bank or other lender) under the policy -
Correct Answer ✔✔ Mortgagee/ Loss Payable Condition
is open perils coverage on personal property usually in a home - Correct Answer ✔✔
Personal Property Form
insures personal property while traveling - Correct Answer ✔✔ Personal Effects Form
provides coverage for 9 optional classes of property - Correct Answer ✔✔ Personal
Articles Form
(jewelry, furs, cameras, musical instruments, silverware, golf equipment, fine arts,
stamps, and coins)
symbol for customers autos left for service - Correct Answer ✔✔ Symbol 30
symbol for coverage for auto dealers - Correct Answer ✔✔ Symbol 31
symbol for trailers borrowed or leased by the insured - Correct Answer ✔✔ Symbol 48
symbol for trailers owned or hired by the insured - Correct Answer ✔✔ Symbol 49
covers losses that are sustained at any time and discovered during the policy period or
within 60 days after the expiration date - Correct Answer ✔✔ Discovery Form
promises to do something - Correct Answer ✔✔ Principal
party that agrees to be responsible for loss - Correct Answer ✔✔ Surety
party to whom the principal makes the promise - Correct Answer ✔✔ Obligee
cover each employee on the policy schedule - Correct Answer ✔✔ Name Schedule
Bonds
list positions that are covered - Correct Answer ✔✔ Position Schedule Bonds
covers dishonest employees acting separately or together by position and the limit
applies to each loss - Correct Answer ✔✔ Commercial Blanket Bonds
the bonds limit applies separately to each employee involved in a loss - Correct Answer
✔✔ Blanket Position Basis
is the part of the workers comp section that promises to pay all compensation and other
benefits required of the insured - Correct Answer ✔✔ Part 1- Workers Compensation
