Texas Property & Casualty Insurance, Insurance Exam
100% Verified Questions & Answers
Q: Which part of an insurance policy describes the responsibilities and obligations of both the insurance company and the
insured under the policy?
Answer:
Conditions
Q: The limits of liability are found in which of the following sections of a casualty policy?
Answer:
Declarations
Q: The _____ page in an insurance contract contains information about the risk, the effective date of coverage,
deductible, premium amounts, coinsurance percentage, and location of the insured property.
Answer:
Declarations
Q: The insured is looking for the amount of coverage in a property and casualty policy. This information would be found
in the ______.
Answer:
declarations
Q: The coverages offered by an insurance policy are described in the ____.
Answer:
insuring agreement
Q: The purpose of the conditions section of an insurance policy is to list the ____ of the insured and the insurance
company.
Answer:
obligations
Q: The list of perils covered under a policy is found in which part of the policy?
Answer:
Insuring agreement
Q: The Declarations page consists of 5 P's. Person or property, policy number, policy term, policy limit and ____.
Answer:
premium
Q: The Insuring agreement describes coverage provided and which ____ are covered.
, Answer:
perils
Q: Lost rent is covered by _____. Limited by 20% of coverage A.
Answer:
Coverage D
Q: Under which of the dwelling forms may the insured be reimbursed for the replacement cost of a dwelling when it is
destroyed?
Answer:
DP-2 and DP-3
Q: The insured has a DP-3 covering a home that has a replacement value of $100,000. The insured carries $60,000 of
insurance. Following a loss, it is determined that it would cost $12,000 to replace the damaged portion of the home. How
much could the insured collect, assuming the ACV of the loss is $6,000?
Answer:
$9000
Q: Damage to covered property caused by glass breakage is covered in ___.
Answer:
DP2 and DP3
Q: Which dwelling forms pay losses to dwellings and other structures on an actual cash value basis?
Answer:
DP1
Q: Which dwelling forms pay losses to personal property on an actual cash value basis?
Answer:
DP1, DP2 and DP3
Q: Would an earthquake that causes a fire that destroys an insured's home be covered by a DP1?
Answer:
yes
Q: A dwelling policy with no endorsements attached contains personal property coverage, dwelling coverage and _____.
Answer:
medical payments coverage
Q: An unendorsed dwelling policy contains the dwelling, other structures, personal property, and _____.
Answer:
100% Verified Questions & Answers
Q: Which part of an insurance policy describes the responsibilities and obligations of both the insurance company and the
insured under the policy?
Answer:
Conditions
Q: The limits of liability are found in which of the following sections of a casualty policy?
Answer:
Declarations
Q: The _____ page in an insurance contract contains information about the risk, the effective date of coverage,
deductible, premium amounts, coinsurance percentage, and location of the insured property.
Answer:
Declarations
Q: The insured is looking for the amount of coverage in a property and casualty policy. This information would be found
in the ______.
Answer:
declarations
Q: The coverages offered by an insurance policy are described in the ____.
Answer:
insuring agreement
Q: The purpose of the conditions section of an insurance policy is to list the ____ of the insured and the insurance
company.
Answer:
obligations
Q: The list of perils covered under a policy is found in which part of the policy?
Answer:
Insuring agreement
Q: The Declarations page consists of 5 P's. Person or property, policy number, policy term, policy limit and ____.
Answer:
premium
Q: The Insuring agreement describes coverage provided and which ____ are covered.
, Answer:
perils
Q: Lost rent is covered by _____. Limited by 20% of coverage A.
Answer:
Coverage D
Q: Under which of the dwelling forms may the insured be reimbursed for the replacement cost of a dwelling when it is
destroyed?
Answer:
DP-2 and DP-3
Q: The insured has a DP-3 covering a home that has a replacement value of $100,000. The insured carries $60,000 of
insurance. Following a loss, it is determined that it would cost $12,000 to replace the damaged portion of the home. How
much could the insured collect, assuming the ACV of the loss is $6,000?
Answer:
$9000
Q: Damage to covered property caused by glass breakage is covered in ___.
Answer:
DP2 and DP3
Q: Which dwelling forms pay losses to dwellings and other structures on an actual cash value basis?
Answer:
DP1
Q: Which dwelling forms pay losses to personal property on an actual cash value basis?
Answer:
DP1, DP2 and DP3
Q: Would an earthquake that causes a fire that destroys an insured's home be covered by a DP1?
Answer:
yes
Q: A dwelling policy with no endorsements attached contains personal property coverage, dwelling coverage and _____.
Answer:
medical payments coverage
Q: An unendorsed dwelling policy contains the dwelling, other structures, personal property, and _____.
Answer:
