ACA Exam 2023 with 100% correct answers

A property policy covers "fire" as a peril. A small fire starts, fortunately, the fire department quickly arrives and puts out the fire. Unfortunately, there is water damage due to the water from the fire hoses. This water damage would be covered because - correct answer Fire was the proximate cause of damage The coverage for damage due to an aircraft under the care, custody, or control of the insured while the plane is in for storage or service is: - correct answer Hangarkeepers liability Under the commercial property form, what length of time must expire before a building is considered "vacant" -- thereby suspending some coverages, while reducing payment on others? - correct answer 60 days A florist wanted coverage on business contents, which vary in amount over the course of a year. Which form best covers this situation? - correct answer The value reporting endorsement A community applied to be part of the National Flood Insurance Program. Until they are approved, what is the status of the community of the community? - correct answer They are in the emergency program Both commercial property and liability were combined into one policy, thus saving money on underwriting expense. What is this combination called? - correct answer A package policy