Property and Casualty Insurance Licensing Exam Questions & Revised Correct Answers. Guarantee Pass!!

Property and Casualty Insurance Licensing Exam Questions & Revised Correct Answers. Guarantee Pass!! To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - ANSWER : An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects - ANSWER : B) upset of the vehicle The maximum amount of payable for all losses resulting from one event is known as the: a) occurrence limit b) aggregate limit - ANSWER : a) occurrence limit Which of the following is a cause of loss form? a) declarations form b) proof of loss form c) garage keepers' form d) basic form - ANSWER : d) Basic form The minimum flood deductible is: a) $100 b) $250 c) $500 d) $1000 - ANSWER : c) $500 The insured intentionally did not inform the insurer that the insured owned only 35% of the property. The insurer can void the policy for: a) conditional coverage b) misrepresentation c) error d) concealment - ANSWER : d) concealment Which of the following is NOT a defense against negligence? a) contributory negligence b) statues of limitations c) presumption of negligence d) assumption of risk - ANSWER : c) presumption of negligence