MASTERY EXAM 2026 ACTUAL TEST PAPER
QUESTIONS SOLUTIONS VERIFIED COMPLETE
STUDY PACKAGE
◉ which of the following would not be covered under part one of the
workers compensation policy?
a. the employee was not observing company safety protocols and
suffered an accidental injury
b. the employee works outside on a regular basis. in the winter, the
employee caught a cold that worsened to pneumonia.
c. the employee was not observing company safety protocols and
suffered an illness
d. while making deliveries, the employee stopped on a person
errand. while getting back in the truck, she fell and broke her arm.
Answer: d. while making deliveries, the employee stopped on a
personal errand, broke arm
◉ the definition of robbery includes all of the following except...
a. threating a person with a gun
b. committing an unlawful act that is witnessed by the person being
robbed
c. unlawfully taking property from the care and custody of another
person by stealth
,d. causing bodily harm to a person.
Answer: c.
◉ what type of cause protects a lender when an insured purchases a
new car?
a. an endorsement
b. a standard mortgage clause
c. a loss payable cause
d. a rider.
Answer: c. a loss payable clause
◉ the difference between additional and optional coverages on a
business owners policy is...
a. optional coverages do not need to be designated in the
declarations
b. additional coverages generally require an additional premium
c. optional coverages usually require an additional premium
d. additional coverages are considered coverage extensions.
Answer: c. optional = additional premium
◉ the method used to determine the value of a loss, should the
adjuster and the insured disagree is...
a. appraisal
, b. arbitration
c. actual cost value
d. umpire method.
Answer: a. appraisal
◉ in property insurance, an insurable interest...
a. is not necessary at the time the policy is written
b. must be present at the time the policy is written and also at the
time of loss
c. is not necessary at the time the policy is written or when the loss
occurs
d. must be present at the time the policy is written, but not when the
loss occurs.
Answer: b. must be present at the time the policy is written and also
at the time the loss occurs
◉ An insured item is destroyed by a covered cause of loss. The
insurer and the insured have determined the value of the loss in
advance, the type of valuation clause is known as the
a. stated amount
b. market value
c. agreed value
d. replacement cost.
QUESTIONS SOLUTIONS VERIFIED COMPLETE
STUDY PACKAGE
◉ which of the following would not be covered under part one of the
workers compensation policy?
a. the employee was not observing company safety protocols and
suffered an accidental injury
b. the employee works outside on a regular basis. in the winter, the
employee caught a cold that worsened to pneumonia.
c. the employee was not observing company safety protocols and
suffered an illness
d. while making deliveries, the employee stopped on a person
errand. while getting back in the truck, she fell and broke her arm.
Answer: d. while making deliveries, the employee stopped on a
personal errand, broke arm
◉ the definition of robbery includes all of the following except...
a. threating a person with a gun
b. committing an unlawful act that is witnessed by the person being
robbed
c. unlawfully taking property from the care and custody of another
person by stealth
,d. causing bodily harm to a person.
Answer: c.
◉ what type of cause protects a lender when an insured purchases a
new car?
a. an endorsement
b. a standard mortgage clause
c. a loss payable cause
d. a rider.
Answer: c. a loss payable clause
◉ the difference between additional and optional coverages on a
business owners policy is...
a. optional coverages do not need to be designated in the
declarations
b. additional coverages generally require an additional premium
c. optional coverages usually require an additional premium
d. additional coverages are considered coverage extensions.
Answer: c. optional = additional premium
◉ the method used to determine the value of a loss, should the
adjuster and the insured disagree is...
a. appraisal
, b. arbitration
c. actual cost value
d. umpire method.
Answer: a. appraisal
◉ in property insurance, an insurable interest...
a. is not necessary at the time the policy is written
b. must be present at the time the policy is written and also at the
time of loss
c. is not necessary at the time the policy is written or when the loss
occurs
d. must be present at the time the policy is written, but not when the
loss occurs.
Answer: b. must be present at the time the policy is written and also
at the time the loss occurs
◉ An insured item is destroyed by a covered cause of loss. The
insurer and the insured have determined the value of the loss in
advance, the type of valuation clause is known as the
a. stated amount
b. market value
c. agreed value
d. replacement cost.
