Exam Fx-Property and Casualty Exam Questions With Complete Solutions

To be considered an insurable risk, a loss may NOT be correct answer: catastrophic Which of the following persons would be required to hold a producer license? correct answer: a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? correct answer: ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? correct answer: the difference in the actual cash value as a pair and as a single Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling policies? correct answer: internal explosion When would a misrepresentation on the insurance application be considered fraud? correct answer: If it is intentional and material A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as the correct answer: penalty In insurance, an offer is usually made when correct answer: the application is submitted All of the following actions by a producer may be grounds for license revocation or non-renewal EXCEPT correct a