Insurance Property And Casualty Exam 2023 (Questions with Correct Answers) Graded 100%

Insurance Property And Casualty Exam 2023 (Questions with Correct Answers) Graded 100%. a policyholder would expect to find what information in the agreement section of the auto policy? - correct answer the insurance company's promise to pay on behalf. a prospective insured wishes to protect her firm against crime concerning the messenger going from the firm to the bank. this situation would be considered ___ - correct answer robbery. what exposures is covered under the basic commercial general liability policy? - correct answer damages caused by products after their sale. a forcible removal or property from a messenger through the threat of violence is called ___ - correct answer robbery. minimum auto liability in the state of west virginia is ___ - correct answer $25 | $50 | $25. an insurance binder is described as: - correct answer temporary short - term evidence of coverage. what best describes a representation in an insurance application? - correct answer it is a statement made by the insurer that certain conditions exist at the time of application. which of the following injuries is covered under the medical payments section of an insured's commercial general liability policy? - correct answer a customer is injured while visiting the insured's showroom. which of the following would be included under the definition of a personal injury? - correct answer a tenant evicted by his|her landlord sues the landlord for invasion of privacy and wrongful eviction. what is the time limit for a payment on an agreed settlement claim in west virginia? - correct answer no later than 15 working days of the agreement amount. commercial auto policy. - correct answer vehicle insurance policy providing financial protection for a business' vehicle & it's drivers. one of the insured trucks in involved in an accident & the goods is damaged. which coverage would respond to cover this loss? - correct answer an inland marine motor truck cargo policy. zach's total loss of business income would've been $300,000 but by renting a building & equipment, he manages to reduce that loss by $80,000. zach's commercial property police includes business income coverage with extra expense. how much will his insurer indemnify him? - correct answer $370,000. (the form pays the $150,000 for the extra expenses he incurred to keep going after the loss, and the $220,000 actual total loss of business income for a total of $370,000) sally's home is covered under an HO-3 policy. coverage F will pay medical expenses for ___ - correct answer anyone who is invited onto sally's property & is injured while there. which of the following is not a covered peril under the standard fire policy? 1. actions of war. 2. removal from the premises any property endangered by a covered peril. 3. lightning. 4. fire. - correct answer actions of war. under the farm insurance forms, the max amount payable for a loss to a satellite dish is ___ - correct answer actual cash value. under the west virginia automobile insurance plan, an insured may be eligible for coverage under a standard or preferred policy, if during the next ___ there are no traffic violations or accidents and continuous insurance coverage has been maintained. - correct answer 3 years. under the west virginia workers compensation code, the total and irrevocable loss of hearing in both ears in considered ___ - correct answer 55% disability. under a CGL policy, personal & advertising injury liability coverage does not apply to damages resulting from ___ - correct answer slanderous statements made by an advertising firm. a warranty in insurance is best described as ___ - correct answer a guarantee that the statements made by the applicant are completely true & untrue statements can void the coverage. Under the terrorism risk insurance act of 2002, what is the "trigger limit" before claims are paid for your the year 2018? - correct answer $160 million. ($100 million in 2015 & $120 million in 2016: the trigger will increase by $20 million each year) in ___ state that permits companies to decide whether to provide workers compensation coverage. - correct answer elective state. for coverage to apply under a workers compensation policy, the injury must be compensable, which means ___ - correct answer the illness or injury must have been the result of an accident arising out of & in the course of the workers employment. what statement correctly applies to a named peril policy? - correct answer only the perils listed by name will be covered. which of the following is NOT extended under the section II - liability of the business owners policy? - correct answer valet services bodily injury. what is NOT considered to be an unfair claims settlement practice? - correct answer denying a claim that is not covered by the policy.