P & c Exam Questions With Complete Solutions
. An insured has $ 5,000 of medical coverage on a personal auto
policy at the time of a covered accident . The insured and two
passengers are injured . Medical treatment costs $ 7,000 for the
insured , $ 4,000 for the first passenger , and $ 8,000 for the
second passenger . How much will the policy pay under medical
payments coverage ? Correct Answer 14,000
A man is working on the roof of his house , and his neighbor is
watching from the ground . When roof shingles are thrown off
the roof , they hit the neighbor in the face injuring his eye .
Which best classifies the homeowner's legal liability ? Correct
Answer Bodily injury
A policy condition that states if a policy is broadened with no
additional premium , then the expanded coverage will be
automatically applied to all policies of the same type is known
as Correct Answer Liberalization clause
A policy condition that stipulates how the amount of damaged or
lost property will be determined if the insured and the principal
do not agree on the value of a property loss is known as Correct
Answer Appraisal
A policy condition that stipulates how the amount of damaged or
lost property will be determined if the insured and the principal
do not agree on the value of a property loss is known as Correct
Answer Appraisal
,A specific coverage part is listed on the commercial package
policy declarations page , but there is no premium shown What
does that mean ? Correct Answer There is no coverage
A worker who suffered catastrophic injuries on the job is
entitled to Correct Answer Lifetime medical benefits .
According to businessowners policy Section I , which of the
following is NOT a condition to be met for the terms of the
policy to apply to mortgageholders ? Correct Answer The
mortgageholder must petition the state department of insurance
for named status
According to the appraisal condition of a homeowners policy ,
what procedure may be followed if the insurer and insured do
not agree as to the size of a loss ? Correct Answer Either party
may make a written request for an appraisal
According to the appraisal condition of a homeowners policy ,
what procedure may be followed if the insurer and insured do
not agree as to the size of a loss ? Correct Answer Either party
may make a written request for an appraisal
According to the appraisal condition of a homeowners policy ,
what procedure may be followed if the insurer and insured do
not agree as to the size of a loss ? Correct Answer Either party
may make a written request for an appraisal
All of the following are conditions commonly found in the
insurance policy EXCEPT Correct Answer Insuring agreement
, All of the following are conditions commonly found in the
insurance policy EXCEPT Correct Answer Insuring agreement
All of the following are considered parts of the policy structure
EXCEPT Correct Answer Provisions
All of the following are considered parts of the policy structure
EXCEPT Correct Answer Provisions
All of the following are examples of transacting insurance in
Georgia EXCEPT Correct Answer Placing advertisements for
an insurer
All of the following are examples of transacting insurance in
Georgia EXCEPT Correct Answer Placing advertisements for
an insurer
All of the following are supplemental payments found in
liability policies EXCEPT Correct Answer Costs the insured
incurred in hiring an attorney
All of the following are supplemental payments included in the
liability section of a personal auto policy EXCEPT Correct
Answer Up to $ 100 for the cost to secure the release of a
vehicle from an impoundment lot following a covered accident
All of the following are supplemental payments included in the
liability section of a personal auto policy EXCEPT Correct
Answer Up to $ 100 for the cost to secure the release of a
vehicle from an impoundment lot following a covered accident
. An insured has $ 5,000 of medical coverage on a personal auto
policy at the time of a covered accident . The insured and two
passengers are injured . Medical treatment costs $ 7,000 for the
insured , $ 4,000 for the first passenger , and $ 8,000 for the
second passenger . How much will the policy pay under medical
payments coverage ? Correct Answer 14,000
A man is working on the roof of his house , and his neighbor is
watching from the ground . When roof shingles are thrown off
the roof , they hit the neighbor in the face injuring his eye .
Which best classifies the homeowner's legal liability ? Correct
Answer Bodily injury
A policy condition that states if a policy is broadened with no
additional premium , then the expanded coverage will be
automatically applied to all policies of the same type is known
as Correct Answer Liberalization clause
A policy condition that stipulates how the amount of damaged or
lost property will be determined if the insured and the principal
do not agree on the value of a property loss is known as Correct
Answer Appraisal
A policy condition that stipulates how the amount of damaged or
lost property will be determined if the insured and the principal
do not agree on the value of a property loss is known as Correct
Answer Appraisal
,A specific coverage part is listed on the commercial package
policy declarations page , but there is no premium shown What
does that mean ? Correct Answer There is no coverage
A worker who suffered catastrophic injuries on the job is
entitled to Correct Answer Lifetime medical benefits .
According to businessowners policy Section I , which of the
following is NOT a condition to be met for the terms of the
policy to apply to mortgageholders ? Correct Answer The
mortgageholder must petition the state department of insurance
for named status
According to the appraisal condition of a homeowners policy ,
what procedure may be followed if the insurer and insured do
not agree as to the size of a loss ? Correct Answer Either party
may make a written request for an appraisal
According to the appraisal condition of a homeowners policy ,
what procedure may be followed if the insurer and insured do
not agree as to the size of a loss ? Correct Answer Either party
may make a written request for an appraisal
According to the appraisal condition of a homeowners policy ,
what procedure may be followed if the insurer and insured do
not agree as to the size of a loss ? Correct Answer Either party
may make a written request for an appraisal
All of the following are conditions commonly found in the
insurance policy EXCEPT Correct Answer Insuring agreement
, All of the following are conditions commonly found in the
insurance policy EXCEPT Correct Answer Insuring agreement
All of the following are considered parts of the policy structure
EXCEPT Correct Answer Provisions
All of the following are considered parts of the policy structure
EXCEPT Correct Answer Provisions
All of the following are examples of transacting insurance in
Georgia EXCEPT Correct Answer Placing advertisements for
an insurer
All of the following are examples of transacting insurance in
Georgia EXCEPT Correct Answer Placing advertisements for
an insurer
All of the following are supplemental payments found in
liability policies EXCEPT Correct Answer Costs the insured
incurred in hiring an attorney
All of the following are supplemental payments included in the
liability section of a personal auto policy EXCEPT Correct
Answer Up to $ 100 for the cost to secure the release of a
vehicle from an impoundment lot following a covered accident
All of the following are supplemental payments included in the
liability section of a personal auto policy EXCEPT Correct
Answer Up to $ 100 for the cost to secure the release of a
vehicle from an impoundment lot following a covered accident
