OKLAHOMA PROPERTY AND
CASUALTY EXAM Questions and
Correct Answers Graded A+ 100%
Complete Guaranteed
Verified by Experts
1. Representations: Statements made by the applicant on an insurance application.
2. Contract of Utmost Good Faith: An insurer must rely of the truthfulness and integrity
of the applicant.
3. Contract of Adhesion: When one party constructs the contract and the other party has
no input.
4. Elements of a Legally Binding Contract: 1. Legal Purpose
2. Agreement (Otter and Acceptance)
3. Competent Parties
4. Consideration
5. Special Peril: Type of policy that insures against open perils of loss that are not specifically
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, excluded.
6. Example of Consequential or Indirect Loss: Loss of income from a rental unit due
to tornado damage to the roof.
7. Class 1 - Frame: Exterior walls, floors and roof are constructed with wood.
8. Class 2 - Joisted Masonry: Exterior walls constructed with masonry such as brick or rock.
Floors and roof are constructed with wood.
9. Class 3 - Noncombustible: Exterior walls, floors and roof are constructed with non-
combustible materials such as metal or asbestos.
10. Class 4 - Masonry Noncombustible: Exterior walls are constructed with
masonry such as brick or rock. Floors and roof are constructed with metal or other non-
combustible material.
11. Class 5 - Modified Fire Resistive: Exterior walls, floor and roof are constructed
with fire resistive materials with a fire resistive rating of less than 2 hours.
12. Class 6 - Fire Resistive: Exterior walls, floor and roof are constructed with fire
resistive materials with a fire resistive rating of 2 hours or more.
13. Aggregate Limit: A type of policy limit that does not restore the limits of liability after
each occurrence.
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CASUALTY EXAM Questions and
Correct Answers Graded A+ 100%
Complete Guaranteed
Verified by Experts
1. Representations: Statements made by the applicant on an insurance application.
2. Contract of Utmost Good Faith: An insurer must rely of the truthfulness and integrity
of the applicant.
3. Contract of Adhesion: When one party constructs the contract and the other party has
no input.
4. Elements of a Legally Binding Contract: 1. Legal Purpose
2. Agreement (Otter and Acceptance)
3. Competent Parties
4. Consideration
5. Special Peril: Type of policy that insures against open perils of loss that are not specifically
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15
, excluded.
6. Example of Consequential or Indirect Loss: Loss of income from a rental unit due
to tornado damage to the roof.
7. Class 1 - Frame: Exterior walls, floors and roof are constructed with wood.
8. Class 2 - Joisted Masonry: Exterior walls constructed with masonry such as brick or rock.
Floors and roof are constructed with wood.
9. Class 3 - Noncombustible: Exterior walls, floors and roof are constructed with non-
combustible materials such as metal or asbestos.
10. Class 4 - Masonry Noncombustible: Exterior walls are constructed with
masonry such as brick or rock. Floors and roof are constructed with metal or other non-
combustible material.
11. Class 5 - Modified Fire Resistive: Exterior walls, floor and roof are constructed
with fire resistive materials with a fire resistive rating of less than 2 hours.
12. Class 6 - Fire Resistive: Exterior walls, floor and roof are constructed with fire
resistive materials with a fire resistive rating of 2 hours or more.
13. Aggregate Limit: A type of policy limit that does not restore the limits of liability after
each occurrence.
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