PROPERTY & CASUALTY EXAM |
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, What has a separate aggregate limit under CGL? Products completed
Loss Sustained/Discovery Forms under Crime Coverage Loss is for later than the policy period. Discovery is before the policy. (Loss is later -
Discover is before)
Errors & Omissions Insurance Liability insurance that covers agents and insurance companies if they make mistakes or
forget to include information in a contract
Non-admitted Insurer An insurer that is not licensed to do business in a particular state. (A surplus lines broker
works with non-admitted carriers)
Size limits for business owners policy Six stories, 100,000 sq. feet , offices 25,000 sq. feet and $3 million dollars gross sales for
mercantile space (store)
Retroactive date The first date an occurrence would be covered under a claim made CGL policy
Peril The cause of loss
Collision Colliding with another car, an object, or upset (rolling)
Exclusions Things that are not covered
Contributory negligence A person cannot file or collect for a claim if he/she is at all negligent
Repair, Replace, or ACV The amount a company pays on a damaged or stolen vehicle whatever is less
What percentage must be vacant for a building to be called 70%
vacant?
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, What has a separate aggregate limit under CGL? Products completed
Loss Sustained/Discovery Forms under Crime Coverage Loss is for later than the policy period. Discovery is before the policy. (Loss is later -
Discover is before)
Errors & Omissions Insurance Liability insurance that covers agents and insurance companies if they make mistakes or
forget to include information in a contract
Non-admitted Insurer An insurer that is not licensed to do business in a particular state. (A surplus lines broker
works with non-admitted carriers)
Size limits for business owners policy Six stories, 100,000 sq. feet , offices 25,000 sq. feet and $3 million dollars gross sales for
mercantile space (store)
Retroactive date The first date an occurrence would be covered under a claim made CGL policy
Peril The cause of loss
Collision Colliding with another car, an object, or upset (rolling)
Exclusions Things that are not covered
Contributory negligence A person cannot file or collect for a claim if he/she is at all negligent
Repair, Replace, or ACV The amount a company pays on a damaged or stolen vehicle whatever is less
What percentage must be vacant for a building to be called 70%
vacant?
