Property and Casualty Fl Exam questions with correct answers

Under a CGL, at what point in time is the earned premium determined by the premium audit? CORRECT ANSWER At the end of the policy period Medical payments coverage under the Commercial General Liability Coverage Forms includes reasonable medical expenses if they are incurred and reported within how many years following an accident? CORRECT ANSWER Expenses that have been incurred and reported within one year of the date of the accident are covered under this section. Under Equipment Breakdown Insurance, which of the following is considered 'one breakdown'? CORRECT ANSWER All breakdowns occurring at the same time that are the direct result of the same cause Which statement regarding the Medical Payments Coverage of the Business Auto Policy is true? CORRECT ANSWER Medical Payments Coverage is available by endorsement to the Business Coverage Form. The coverage is not automatically included in the commercial auto forms. Which of the following is an element of fiduciary responsibility? CORRECT ANSWER Duty of loyalty The authority of a producer that is stated in his/her agency contract, are said to be: CORRECT ANSWER Express Powers