Property and Casualty Insurance
Latest Exam 2024
A Broad Form Dwelling policy would cover all of the following losses, except:
A
Building damage caused by burglars
B
Fence that is damaged by a fallen tree branch
C
Glass on a storm door that is broken during a riot
D
Floor damage caused by accidental discharge of water from a household appliance -
ANSWER B
A Broad Form Dwelling policy would cover all of the following losses, except:
A
Fence that is damaged by a fallen tree branch
B
Floor damage caused by accidental discharge of water from a household appliance
C
Building damage caused by burglars
D
Glass on a storm door that is broken during a riot - ANSWER A
A Broad Form Homeowners policy would cover all of the following personal property losses, except:
A
Theft of a residence employee's watch from the residence premises
B
Damage to a guest's passport after an appliance accidentally overflows
C
Furniture lost due to a mudslide
D
Fire loss to the dwelling's contents after a flood started an electrical fire - ANSWER C
A Broad Form Homeowners policy would cover all of the following personal property losses, except:
,Property and Casualty Insurance
Latest Exam 2024
A
Theft of a residence employee's watch from the residence premises
B
Furniture lost due to a mudslide
C
Fire loss to the dwelling's contents after a flood started an electrical fire
D
Damage to a guest's passport after an appliance accidentally overflows - ANSWER B
A Broad Form Homeowners policy would NOT cover which of the following losses? -
ANSWER Water damage to personal property stored in the basement after a sump pump
overflows
A manufacturer is held liable if a product caused an injury whether the product was or was not
defective. This describes what type of liability?
A
Operations liablity
B
Vicarious liability
C
Strict liability
D
Contingent liability - ANSWER C
A person operating a motor vehicle who is not able to provide current proof of financial
responsibility in the vehicle when requested by a Nebraska law enforcement officer is allowed _____
days to prove that financial responsibility was in effect at the time of the request. -
ANSWER 10
A producer licensed in Nebraska received 15% of their total commissions in one year from writing
controlled business. What will happen in response?
A
Nothing; this is within accepted limits
B
,Property and Casualty Insurance
Latest Exam 2024
The producer will be presumed to have obtained their license primarily to write controlled business
and circumvent laws regarding rebates
C
Nothing; this state does not regulate controlled business
D
The producer will be conclusively presumed to have obtained their license primarily to write
controlled business and circumvent laws regarding rebates - ANSWER B
A Special Form Homeowners policy will provide all of the following, except:
A
Coverage for the dwelling on a named perils basis
B
Coverage for personal property on a named perils basis
C
Settlement for losses to personal property on an actual cash value basis
D
Coverage for other structures on an open perils basis - ANSWER A
All of the following are additional coverages under the Building and Personal Property Coverage
Form, except: - ANSWER Peak season
All of the following are false concerning the National Flood Insurance Program, except:
A
Payment for losses are made by the federal government
B
Agents may bind flood insurance for up to 15 days prior to submitting the final application
C
Flood policies are available only from the National Flood Insurance Program
D
Dwelling coverage includes trees, shrubs, and plants - ANSWER A
All of the following are general conditions of the BAP, except:
A
, Property and Casualty Insurance
Latest Exam 2024
No benefit to bailee for physical damage
B
Concealment, misrepresentation, or fraud
C
Premium audit
D
Duties in the event of an accident - ANSWER D
All of the following are true of liability policies, except:
A
They will cover damage to the insured's own property
B
They do not cover medical expenses incurred by the insured
C
They will pay sums that the insured becomes legally liable to pay
D
They are designed to cover third party injuries or damages - ANSWER A
All of the following are true of the Commercial Builders Risk Coverage Form, except:
A
Liability coverage is included in the form
B
Coverage is excluded for lawns, trees and plants
C
Coinsurance applies to Builders Risk at the percentage listed on the declarations
D
Covered perils are specified by attaching a separate causes of loss form - ANSWER A
All of the following are true of the supplemental extended reporting period, except:
A
It must be purchased within 60 days after the end of the policy
Latest Exam 2024
A Broad Form Dwelling policy would cover all of the following losses, except:
A
Building damage caused by burglars
B
Fence that is damaged by a fallen tree branch
C
Glass on a storm door that is broken during a riot
D
Floor damage caused by accidental discharge of water from a household appliance -
ANSWER B
A Broad Form Dwelling policy would cover all of the following losses, except:
A
Fence that is damaged by a fallen tree branch
B
Floor damage caused by accidental discharge of water from a household appliance
C
Building damage caused by burglars
D
Glass on a storm door that is broken during a riot - ANSWER A
A Broad Form Homeowners policy would cover all of the following personal property losses, except:
A
Theft of a residence employee's watch from the residence premises
B
Damage to a guest's passport after an appliance accidentally overflows
C
Furniture lost due to a mudslide
D
Fire loss to the dwelling's contents after a flood started an electrical fire - ANSWER C
A Broad Form Homeowners policy would cover all of the following personal property losses, except:
,Property and Casualty Insurance
Latest Exam 2024
A
Theft of a residence employee's watch from the residence premises
B
Furniture lost due to a mudslide
C
Fire loss to the dwelling's contents after a flood started an electrical fire
D
Damage to a guest's passport after an appliance accidentally overflows - ANSWER B
A Broad Form Homeowners policy would NOT cover which of the following losses? -
ANSWER Water damage to personal property stored in the basement after a sump pump
overflows
A manufacturer is held liable if a product caused an injury whether the product was or was not
defective. This describes what type of liability?
A
Operations liablity
B
Vicarious liability
C
Strict liability
D
Contingent liability - ANSWER C
A person operating a motor vehicle who is not able to provide current proof of financial
responsibility in the vehicle when requested by a Nebraska law enforcement officer is allowed _____
days to prove that financial responsibility was in effect at the time of the request. -
ANSWER 10
A producer licensed in Nebraska received 15% of their total commissions in one year from writing
controlled business. What will happen in response?
A
Nothing; this is within accepted limits
B
,Property and Casualty Insurance
Latest Exam 2024
The producer will be presumed to have obtained their license primarily to write controlled business
and circumvent laws regarding rebates
C
Nothing; this state does not regulate controlled business
D
The producer will be conclusively presumed to have obtained their license primarily to write
controlled business and circumvent laws regarding rebates - ANSWER B
A Special Form Homeowners policy will provide all of the following, except:
A
Coverage for the dwelling on a named perils basis
B
Coverage for personal property on a named perils basis
C
Settlement for losses to personal property on an actual cash value basis
D
Coverage for other structures on an open perils basis - ANSWER A
All of the following are additional coverages under the Building and Personal Property Coverage
Form, except: - ANSWER Peak season
All of the following are false concerning the National Flood Insurance Program, except:
A
Payment for losses are made by the federal government
B
Agents may bind flood insurance for up to 15 days prior to submitting the final application
C
Flood policies are available only from the National Flood Insurance Program
D
Dwelling coverage includes trees, shrubs, and plants - ANSWER A
All of the following are general conditions of the BAP, except:
A
, Property and Casualty Insurance
Latest Exam 2024
No benefit to bailee for physical damage
B
Concealment, misrepresentation, or fraud
C
Premium audit
D
Duties in the event of an accident - ANSWER D
All of the following are true of liability policies, except:
A
They will cover damage to the insured's own property
B
They do not cover medical expenses incurred by the insured
C
They will pay sums that the insured becomes legally liable to pay
D
They are designed to cover third party injuries or damages - ANSWER A
All of the following are true of the Commercial Builders Risk Coverage Form, except:
A
Liability coverage is included in the form
B
Coverage is excluded for lawns, trees and plants
C
Coinsurance applies to Builders Risk at the percentage listed on the declarations
D
Covered perils are specified by attaching a separate causes of loss form - ANSWER A
All of the following are true of the supplemental extended reporting period, except:
A
It must be purchased within 60 days after the end of the policy
