Property and Casualty Insurance - Final
Exam 2026/2027 | Comprehensive Study
Guide & Practice Questions
An unlicensed employee of an insurance agency may perform all of the following
EXCEPT: - correct answer-A) Accept a claim form
B) Type correspondence for a direct mail campaign
C) Deposit properly endorsed checks into the agency's bank account
•• D) Advise an insured of coverage issues
A producer must notify the insurance division of an address change within: -
correct answer-A) 10 days
B) 20 days
C) 25 days
•• D) 30 days
A Temporary License may be issued to approved individuals for a period of: -
correct answer-A) Twelve Months
B) Nine Months
•• C) 90 days with extensions up to 180 days
,D) 30 days
Contribution by Equal Shares: - correct answer-A) Is applicable in Workers
Compensation
B) Is excess over primary coverage
C) Prorates coverage between all policies equally
•• D) Is a form of proportional coverage in which losses are paid equally by all
policies until one policy is exhausted, whereby the other policy pays alone
Which of the following is NOT a requirement necessary to qualify as a producer in
Iowas? - correct answer-A) Pass the exam required by statute
B) Be a resident of the state of Iowa
C) Be of good character and company
•• D) Complete a 36-hour licensing course
All of the following are true of the Iowa's Continuing Education Regulation
EXCEPT: - correct answer-A) A continuing education term is three years
B) New producers must complete 36 credits every continuing education term
•• C) Continuing education is automatically waived for producers that are
attorneys
D) Producers must have 3 credits in ethics every CE term
All of the following applicants may be denied a producer's license EXCEPT: -
correct answer-•• A) An attorney
B) An individual that provides incomplete information on a license application
C) An applicant whose letter of clearance is dated 120 days prior
, D) A nonresident not licensed in their state of domicile
Personal liability coverage under the Dwelling Policy is: - correct answer-A)
Automatically provided under the policy
•• B) Only provided by endorsement
C) Broader and more comprehensive than homeowner personal liability
D) Limited to 10% of Coverage A
All of the following would be considered a hazard EXCEPT: - correct answer-A)
Trash and debris in the basement of a home
B) Broken steps and hand railings
C) Overloaded electrical wiring
•• D) Properly stored paint and related solvents
All of the following would be considered a Unfair Claims Practice EXCEPT: - correct
answer-A) Failure to acknowledge written or oral communications
B) Failure to deny or affirm coverage
•• C) Dealing with the insured or claimant in good faith
D) Refusing to pay covered claims
A producer license is: - correct answer-A) Automatically renewed
B) Renewed for one-year periods subject to the completion of CE
C) Renewed for two-year periods subject to the completion of CE
•• D) Renewed for three-year periods subject to the completion of CE
Exam 2026/2027 | Comprehensive Study
Guide & Practice Questions
An unlicensed employee of an insurance agency may perform all of the following
EXCEPT: - correct answer-A) Accept a claim form
B) Type correspondence for a direct mail campaign
C) Deposit properly endorsed checks into the agency's bank account
•• D) Advise an insured of coverage issues
A producer must notify the insurance division of an address change within: -
correct answer-A) 10 days
B) 20 days
C) 25 days
•• D) 30 days
A Temporary License may be issued to approved individuals for a period of: -
correct answer-A) Twelve Months
B) Nine Months
•• C) 90 days with extensions up to 180 days
,D) 30 days
Contribution by Equal Shares: - correct answer-A) Is applicable in Workers
Compensation
B) Is excess over primary coverage
C) Prorates coverage between all policies equally
•• D) Is a form of proportional coverage in which losses are paid equally by all
policies until one policy is exhausted, whereby the other policy pays alone
Which of the following is NOT a requirement necessary to qualify as a producer in
Iowas? - correct answer-A) Pass the exam required by statute
B) Be a resident of the state of Iowa
C) Be of good character and company
•• D) Complete a 36-hour licensing course
All of the following are true of the Iowa's Continuing Education Regulation
EXCEPT: - correct answer-A) A continuing education term is three years
B) New producers must complete 36 credits every continuing education term
•• C) Continuing education is automatically waived for producers that are
attorneys
D) Producers must have 3 credits in ethics every CE term
All of the following applicants may be denied a producer's license EXCEPT: -
correct answer-•• A) An attorney
B) An individual that provides incomplete information on a license application
C) An applicant whose letter of clearance is dated 120 days prior
, D) A nonresident not licensed in their state of domicile
Personal liability coverage under the Dwelling Policy is: - correct answer-A)
Automatically provided under the policy
•• B) Only provided by endorsement
C) Broader and more comprehensive than homeowner personal liability
D) Limited to 10% of Coverage A
All of the following would be considered a hazard EXCEPT: - correct answer-A)
Trash and debris in the basement of a home
B) Broken steps and hand railings
C) Overloaded electrical wiring
•• D) Properly stored paint and related solvents
All of the following would be considered a Unfair Claims Practice EXCEPT: - correct
answer-A) Failure to acknowledge written or oral communications
B) Failure to deny or affirm coverage
•• C) Dealing with the insured or claimant in good faith
D) Refusing to pay covered claims
A producer license is: - correct answer-A) Automatically renewed
B) Renewed for one-year periods subject to the completion of CE
C) Renewed for two-year periods subject to the completion of CE
•• D) Renewed for three-year periods subject to the completion of CE
