PERSONAL LINES EXAM FX STUDY SESSION
EXAM WITH CORRECT ACTUAL QUESTIONS
AND CORRECTLY WELL DEFINED ANSWERS
LATEST 2025 ALREADY GRADED A+
Specific definitions as to their meaning as used in the policy - ANSWERS-words
or terms that appear in an insurance policy in bold face print include
pay dividends to the policy owner - ANSWERS-A participating insurance policy
may do which of the following?
Property and Casualty Insurance Guaranty Association - ANSWERS-Which of the
following was created to pay benefits due to insured's after their insurance
companies have been declared insolvent?
First named insured - ANSWERS-Which of the following would be named on the
declarations page of a property or liability policy?
, consideration - ANSWERS-Something of value exchanged between the insurer
and the insured is considered an
The coinsurance formula will also be applied to total losses. - ANSWERS-All of
the following statements concerning coinsurance are true EXCEPT
stated amount - ANSWERS-when the amount of insurance written in a property
policy is not subject to any coinsurance provision and that amount is paid in the
event of a covered loss, the coverage is said to be written as
warranty - ANSWERS-Which of the following is a statement that is guaranteed
to be true, and if untrue, may breach an insurance contract?
Mechanical breakdown - ANSWERS-Which of the following is a common
exclusion found in Part D: Coverage for Damage to Your Auto of a PAP?
market value - ANSWERS-The insured's house is located one mile from the
county's new landfill and across the road from the entrance of a rock quarry. It
would cost $150,000 to rebuild the house is something happened to it, but
when the insured tried to sell it, the best offer he received was $80,000. The
insurance company will insure the house for only $80,000. What method of
valuation is used to insure this property?
Each policy will pay $25,000 of the loss - ANSWERS-An insured has four separate
but identical policies written by different insurers to cover her $100,000
building. Each policy is written for $100,000, and each has the pro rata liability
EXAM WITH CORRECT ACTUAL QUESTIONS
AND CORRECTLY WELL DEFINED ANSWERS
LATEST 2025 ALREADY GRADED A+
Specific definitions as to their meaning as used in the policy - ANSWERS-words
or terms that appear in an insurance policy in bold face print include
pay dividends to the policy owner - ANSWERS-A participating insurance policy
may do which of the following?
Property and Casualty Insurance Guaranty Association - ANSWERS-Which of the
following was created to pay benefits due to insured's after their insurance
companies have been declared insolvent?
First named insured - ANSWERS-Which of the following would be named on the
declarations page of a property or liability policy?
, consideration - ANSWERS-Something of value exchanged between the insurer
and the insured is considered an
The coinsurance formula will also be applied to total losses. - ANSWERS-All of
the following statements concerning coinsurance are true EXCEPT
stated amount - ANSWERS-when the amount of insurance written in a property
policy is not subject to any coinsurance provision and that amount is paid in the
event of a covered loss, the coverage is said to be written as
warranty - ANSWERS-Which of the following is a statement that is guaranteed
to be true, and if untrue, may breach an insurance contract?
Mechanical breakdown - ANSWERS-Which of the following is a common
exclusion found in Part D: Coverage for Damage to Your Auto of a PAP?
market value - ANSWERS-The insured's house is located one mile from the
county's new landfill and across the road from the entrance of a rock quarry. It
would cost $150,000 to rebuild the house is something happened to it, but
when the insured tried to sell it, the best offer he received was $80,000. The
insurance company will insure the house for only $80,000. What method of
valuation is used to insure this property?
Each policy will pay $25,000 of the loss - ANSWERS-An insured has four separate
but identical policies written by different insurers to cover her $100,000
building. Each policy is written for $100,000, and each has the pro rata liability
