Producer's Property & Casualty Practice Exam 2024 (A+ GRADED)

Under a Businessowners Policy, the policy's terms can be amended or waived only by endorsement issued by correct answers the insurer and made a part of the policy. All of the following are Valuable Papers and Records EXCEPT A. manuscripts, records, or abstracts. B. inscribed, printed, or written documents. C. books, deeds, drawings, films, maps, or mortgages. D. money or securities. correct answers money or securities. Paula and Peter Jones are both insureds on their Homeowners insurance policy which has a $3,000 limit on Coverage F - Medical Payments to Others. They and two visitors named Victor and Valerie are injured when a car smashes into the home. The medical expenses are as follows: Paula $3,000; Peter $7,000; Victor $6,000; Valerie $4,000. How much will the Homeowners policy pay under Coverage F - Medical Payments to Others? correct answers $6,000 Tammy has an insurance producer license. Unless it is renewed, when does her insurance license expire? correct answers On the last day of the licensee's birth month, every two years Kenneth is negligent for causing a car accident when he runs into a car driven by Suzanne. Which of the following losses will be paid by Physical Damage coverage on Kenneth's Personal Automobile Policy? correct answers $15,000 damage to Kenneth's car What are the Commercial Automobile Policy (CAP) coverage forms that can be sold to commercial entities? correct answers Business Auto, Business Auto Physical Damage, Garage, Truckers, Motor Carriers Mario has a personal auto insurance policy with a bodily injury per person limit of $100,000. Mario is negligent for causing a car accident that results in Luciana having $120,000 in medical expenses. Additionally, the insurer incurred $30,000 of defense costs to settle the claim. What is the total amount the insurer will have to pay for everything related to this claim? correct answers $130,000 What is another term for disability income? correct answers Loss of wages Part One: Workers Compensation pays for all of the following EXCEPT A. failing to comply with health or safety regulations or any violation of Workers' Compensation law. B. defense costs for any claim, proceeding, or suit against the insured. C. premiums for bonds, litigation costs, and interest on a judgment.