GEORGIA PROPERTY AND CASUALTY LATEST 2026
ACTUAL FINAL PAPER QUESTIONS AND ANSWERS
GRADED A+
✔✔Types of Property Policies.
Inland Marine and Others:
What is a personal floater? - ✔✔An inland marine policy designed to cover movable
personal property.
✔✔Types of Property Policies.
Inland Marine and Others:
What is a commercial floater? - ✔✔An inland marine policy designed to cover movable
commercial property, wherever it may be located.
✔✔Types of Property Policies.
Inland Marine and Others:
What is a WYO insurance company, and how is it used? - ✔✔WYO stands for write
your own insurance company. The private insurers that participate in a WYO program
write and service policies on a no risk-bearing basis through a special arrangement with
the Federal Insurance Administration. They retain part of the flood insurance premium
to pay for commissions and administrative costs. The remaining premiums, plus
investment, are used to cover losses.
✔✔Types of Property Policies.
Inland Marine and Others:
When does the federal emergency flood insurance program go into effect and end? -
✔✔goes into effect when a community applies for the program and ends when all NFIP
criteria have been met and the regular program can begin.
✔✔Types of Property Policies.
Inland Marine and Others:
How does the mobile-home endorsement change the homeowners policy? - ✔✔alters
the homeowners policy to cover a mobile home and other structures on land owned or
leased by the resident of the mobile home.
✔✔Types of Property Policies.
Inland Marine and Others:
What policy has the same structure as a Mobile Homeowners Policy? -
✔✔Homeowners Policy.
✔✔Types of Property Policies.
Inland Marine and Others:
, How can coverage for the perils of a earthquake be added? - ✔✔It can be added by
endorsement to most property policies or coverage can be written in a Difference in
Conditions Policy.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What does Coverage A of the commercial general liability policy provide coverage for? -
✔✔It provides protection for injury or death suffered by third parties and protection for
damage to property of others.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What is the difference between personal injury and advertising injury? - ✔✔Both
personal injuries and advertising injuries are nonphysical, but advertising injuries occur
when the insured inadvertently injures another person during the course of advertising a
product or service.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What does Coverage C- Medical Payments provide? - ✔✔It provides for necessary
medical or funeral expenses for third parties injured because of the insured's business
operations.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
Name the 3 types of legal entities. - ✔✔Sole proprietor, partnerships, and corporations.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What is the difference between per occurrence limit and aggregate limit? - ✔✔The per
occurrence limit is the maximum amount payable per occurrence or accident. The
general aggregate limit is the most the insurer will pay for all losses that occur during a
policy period.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Automotive: Personal Auto and Business Auto:
What types of vehicles are covered under a personal auto policy? - ✔✔any vehicle
listed on the declaration page; newly acquired vehicles for 30 days; trailers owned by
the insured; and temporary substitute vehicles.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Automotive: Personal Auto and Business Auto:
Define a newly acquired auto. - ✔✔any vehicle acquired by the insured during the policy
period. Please review the definitions above for the types of newly acquired autos.
ACTUAL FINAL PAPER QUESTIONS AND ANSWERS
GRADED A+
✔✔Types of Property Policies.
Inland Marine and Others:
What is a personal floater? - ✔✔An inland marine policy designed to cover movable
personal property.
✔✔Types of Property Policies.
Inland Marine and Others:
What is a commercial floater? - ✔✔An inland marine policy designed to cover movable
commercial property, wherever it may be located.
✔✔Types of Property Policies.
Inland Marine and Others:
What is a WYO insurance company, and how is it used? - ✔✔WYO stands for write
your own insurance company. The private insurers that participate in a WYO program
write and service policies on a no risk-bearing basis through a special arrangement with
the Federal Insurance Administration. They retain part of the flood insurance premium
to pay for commissions and administrative costs. The remaining premiums, plus
investment, are used to cover losses.
✔✔Types of Property Policies.
Inland Marine and Others:
When does the federal emergency flood insurance program go into effect and end? -
✔✔goes into effect when a community applies for the program and ends when all NFIP
criteria have been met and the regular program can begin.
✔✔Types of Property Policies.
Inland Marine and Others:
How does the mobile-home endorsement change the homeowners policy? - ✔✔alters
the homeowners policy to cover a mobile home and other structures on land owned or
leased by the resident of the mobile home.
✔✔Types of Property Policies.
Inland Marine and Others:
What policy has the same structure as a Mobile Homeowners Policy? -
✔✔Homeowners Policy.
✔✔Types of Property Policies.
Inland Marine and Others:
, How can coverage for the perils of a earthquake be added? - ✔✔It can be added by
endorsement to most property policies or coverage can be written in a Difference in
Conditions Policy.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What does Coverage A of the commercial general liability policy provide coverage for? -
✔✔It provides protection for injury or death suffered by third parties and protection for
damage to property of others.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What is the difference between personal injury and advertising injury? - ✔✔Both
personal injuries and advertising injuries are nonphysical, but advertising injuries occur
when the insured inadvertently injures another person during the course of advertising a
product or service.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What does Coverage C- Medical Payments provide? - ✔✔It provides for necessary
medical or funeral expenses for third parties injured because of the insured's business
operations.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
Name the 3 types of legal entities. - ✔✔Sole proprietor, partnerships, and corporations.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Commercial General Liability (CGL):
What is the difference between per occurrence limit and aggregate limit? - ✔✔The per
occurrence limit is the maximum amount payable per occurrence or accident. The
general aggregate limit is the most the insurer will pay for all losses that occur during a
policy period.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Automotive: Personal Auto and Business Auto:
What types of vehicles are covered under a personal auto policy? - ✔✔any vehicle
listed on the declaration page; newly acquired vehicles for 30 days; trailers owned by
the insured; and temporary substitute vehicles.
✔✔Types of Casualty Policies, Bonds, and Related Terms.
Automotive: Personal Auto and Business Auto:
Define a newly acquired auto. - ✔✔any vehicle acquired by the insured during the policy
period. Please review the definitions above for the types of newly acquired autos.
