ACA Exam Questions and Answers
100% Solved | Graded A+
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 - ✔✔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: -
✔✔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? - ✔✔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? - ✔✔The value
reporting endorsement
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, 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? - ✔✔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? -
✔✔A package policy
What is the smallest amount of liability insurance under the business-
owners policy (BOP)? - ✔✔$300,000
Which of the following would be excluded under a personal articles floater
on an "all risks" basis? - ✔✔Insects destroy a valuable postage stamp
worth $500
A ship loaded with lumber encountered a terrible storm, and some of the
lumber was thrown overboard to save the ship - this action is called: -
✔✔Jettison
A contracted was concerned some of his tools, such as a welder, could be
stolen from the job site. What inland marine form is best suited for this
exposure? - ✔✔The contractors equipment floater
All of the following are exclusions under the Personal Inland Marine Policy
EXCEPT: - ✔✔Theft from and "off site" location
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
100% Solved | Graded A+
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 - ✔✔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: -
✔✔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? - ✔✔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? - ✔✔The value
reporting endorsement
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, 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? - ✔✔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? -
✔✔A package policy
What is the smallest amount of liability insurance under the business-
owners policy (BOP)? - ✔✔$300,000
Which of the following would be excluded under a personal articles floater
on an "all risks" basis? - ✔✔Insects destroy a valuable postage stamp
worth $500
A ship loaded with lumber encountered a terrible storm, and some of the
lumber was thrown overboard to save the ship - this action is called: -
✔✔Jettison
A contracted was concerned some of his tools, such as a welder, could be
stolen from the job site. What inland marine form is best suited for this
exposure? - ✔✔The contractors equipment floater
All of the following are exclusions under the Personal Inland Marine Policy
EXCEPT: - ✔✔Theft from and "off site" location
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
