Exam Fx-Property and Casualty Exam
1.To be considered an insurable risk, a loss may NOT be: catastrophic
2.Which of the following persons would be required to hold a producer license?: a nonresident agent who negotiates insurance contracts
3.Which of the following is the oldest known type of insurance?: ocean marine
4.The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks?: the difference in the actual cash value as a pair and as a single
5.Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling policies?: internal explosion
6.When would a misrepresentation on the insurance application be consid- ered fraud?: If it is intentional and material
7.A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as the: penalty
8.In insurance, an offer is usually made when: the application is submitted
9.All of the following actions by a producer may be grounds for license revocation or non-renewal EXCEPT: participating in controlled business
10.In personal auto policies, the term "you" refers to: the named insured
11.Business personal property coverage form covers all of the following except:: automobiles held for sale
12.in dwelling policies, automatic increase in insurance is: coverage by en- dorsement
13.To be eligible for businessowners policy (BOP) coverage, an office build- ing CANNOT be higher than: 6 stories
14.Elaborate homes with replacement costs greater than ACV or market value are insured on the: HO-8 Form
15.Which of the following dwelling coverage forms would pay replacement cost for the dwelling?: DP-2 and DP-3
16.Business personal property coverage insures property out in the open if it is: Within 100 feet of the described premises
17.A runaway shopping cart injures a customer in a supermarket's parking
lot. Coverage for this claim would be provided under: premises and operations
1.To be considered an insurable risk, a loss may NOT be: catastrophic
2.Which of the following persons would be required to hold a producer license?: a nonresident agent who negotiates insurance contracts
3.Which of the following is the oldest known type of insurance?: ocean marine
4.The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks?: the difference in the actual cash value as a pair and as a single
5.Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling policies?: internal explosion
6.When would a misrepresentation on the insurance application be consid- ered fraud?: If it is intentional and material
7.A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as the: penalty
8.In insurance, an offer is usually made when: the application is submitted
9.All of the following actions by a producer may be grounds for license revocation or non-renewal EXCEPT: participating in controlled business
10.In personal auto policies, the term "you" refers to: the named insured
11.Business personal property coverage form covers all of the following except:: automobiles held for sale
12.in dwelling policies, automatic increase in insurance is: coverage by en- dorsement
13.To be eligible for businessowners policy (BOP) coverage, an office build- ing CANNOT be higher than: 6 stories
14.Elaborate homes with replacement costs greater than ACV or market value are insured on the: HO-8 Form
15.Which of the following dwelling coverage forms would pay replacement cost for the dwelling?: DP-2 and DP-3
16.Business personal property coverage insures property out in the open if it is: Within 100 feet of the described premises
17.A runaway shopping cart injures a customer in a supermarket's parking
lot. Coverage for this claim would be provided under: premises and operations
