Property and casualty insurance Exam
Questions and Answers Part one 2025
Which of the following are the authorities that an agent can
hold? - Correct Answers ✅Express and implied
Which of the following terms refers to such disabilities the
loss of a limb, hearing , or eye sight? - Correct Answers
✅Permanent partial disability
Who is NOT considered an employee in an commercial
general liability (CGL) policy? - Correct Answers
✅Temporary worker
The major portion of the premium of an equipment
breakdown policy pays? - Correct Answers ✅For
inspections and examinations
An insured owns a building valued at $400,000. To comply
with the 80% coinsurance provision of his insurance policy,
how , much should he insure the property for? - Correct
Answers ✅80% of the property's replacement cost or more
Under the Fair Credit Reporting Act, if the consumer
challenges the accuracy of the information contained in his or
her report, the reporting agency must - Correct Answers
✅Respond to the consumer's complaint.
All of the following are found in the declarations section of a
policy EXCEPT the - Correct Answers ✅Exclusions.
,Property and casualty insurance Exam
Questions and Answers Part one 2025
The cost of restoring farm records is an additional coverage
offered under a farm policy. How much will the policy pay to
restore the records? - Correct Answers ✅Up to $2,000
All of the following could be considered rebates if offered to
an insured in the sale of insurance EXCEPT - Correct
Answers ✅Dividends from a mutual insurer.
Which of the following may be covered by electronic data
processing coverage form under an inland marine policy? -
Correct Answers ✅a) Computer hardware that is
specifically scheduled.
b) Extra expense the insured incurs to continue the business
following a loss.
c) Data processing media, including magnetic tapes or paper
tapes, punch cards and discs
The party to a surety or fidelity bond who promises to fulfill
the obligation is the - Correct Answers ✅Principal
The transfer of money from inside a banking premises to a
person other than a messenger outside those premises or to
a place outside those premises is covered under which
,Property and casualty insurance Exam
Questions and Answers Part one 2025
commercial crime coverage? - Correct Answers
✅Computer fraud
Which of the following would NOT be covered under the
liability section of a personal auto policy? - Correct Answers
✅Bodily injury is caused by the insured's negligence while
driving a three-wheel all-terrain vehicle.
When a producer holding a certificate or a broker's license
has a change in his/her residence or business address, he/she
must notify the Department of Insurance and any company
for which the producer holds an appointment within - Correct
Answers ✅30 days.
What will happen if a house covered by a standard mortgage
clause is a total loss? - Correct Answers ✅The insurer pays
the mortgagee according to the mortgagee's interest in the
property.
What is the civil penalty for violating a cease and desist order
of the Commissioner? - Correct Answers ✅$10,000
The Business Pursuits endorsement under Section II of a
homeowners policy will cover all of the following EXCEPT -
Correct Answers ✅Business liability.
, Property and casualty insurance Exam
Questions and Answers Part one 2025
If a property is covered by Company A for $20,000 and
Company B covers the same property for $40,000, how much
will Company A pay on a $24,000 loss? - Correct Answers
✅$8,000
The risk management technique that is used to prevent a
specific loss by not exposing oneself to that activity is called -
Correct Answers ✅Avoidance.
In a farm policy, any cost incurred by the insurer for the
investigation or defense of a claim will be paid by - Correct
Answers ✅The insurer.
Which of the following entities must approve all continuing
education courses in this state? - Correct Answers ✅The
Commissioner
An applicant knowingly fails to communicate information that
would help an underwriter make a sound decision regarding
coverage. This is an example of - Correct Answers
✅Concealment
A common exclusion found under physical damage to your
auto includes - Correct Answers ✅Mechanical breakdown.
Questions and Answers Part one 2025
Which of the following are the authorities that an agent can
hold? - Correct Answers ✅Express and implied
Which of the following terms refers to such disabilities the
loss of a limb, hearing , or eye sight? - Correct Answers
✅Permanent partial disability
Who is NOT considered an employee in an commercial
general liability (CGL) policy? - Correct Answers
✅Temporary worker
The major portion of the premium of an equipment
breakdown policy pays? - Correct Answers ✅For
inspections and examinations
An insured owns a building valued at $400,000. To comply
with the 80% coinsurance provision of his insurance policy,
how , much should he insure the property for? - Correct
Answers ✅80% of the property's replacement cost or more
Under the Fair Credit Reporting Act, if the consumer
challenges the accuracy of the information contained in his or
her report, the reporting agency must - Correct Answers
✅Respond to the consumer's complaint.
All of the following are found in the declarations section of a
policy EXCEPT the - Correct Answers ✅Exclusions.
,Property and casualty insurance Exam
Questions and Answers Part one 2025
The cost of restoring farm records is an additional coverage
offered under a farm policy. How much will the policy pay to
restore the records? - Correct Answers ✅Up to $2,000
All of the following could be considered rebates if offered to
an insured in the sale of insurance EXCEPT - Correct
Answers ✅Dividends from a mutual insurer.
Which of the following may be covered by electronic data
processing coverage form under an inland marine policy? -
Correct Answers ✅a) Computer hardware that is
specifically scheduled.
b) Extra expense the insured incurs to continue the business
following a loss.
c) Data processing media, including magnetic tapes or paper
tapes, punch cards and discs
The party to a surety or fidelity bond who promises to fulfill
the obligation is the - Correct Answers ✅Principal
The transfer of money from inside a banking premises to a
person other than a messenger outside those premises or to
a place outside those premises is covered under which
,Property and casualty insurance Exam
Questions and Answers Part one 2025
commercial crime coverage? - Correct Answers
✅Computer fraud
Which of the following would NOT be covered under the
liability section of a personal auto policy? - Correct Answers
✅Bodily injury is caused by the insured's negligence while
driving a three-wheel all-terrain vehicle.
When a producer holding a certificate or a broker's license
has a change in his/her residence or business address, he/she
must notify the Department of Insurance and any company
for which the producer holds an appointment within - Correct
Answers ✅30 days.
What will happen if a house covered by a standard mortgage
clause is a total loss? - Correct Answers ✅The insurer pays
the mortgagee according to the mortgagee's interest in the
property.
What is the civil penalty for violating a cease and desist order
of the Commissioner? - Correct Answers ✅$10,000
The Business Pursuits endorsement under Section II of a
homeowners policy will cover all of the following EXCEPT -
Correct Answers ✅Business liability.
, Property and casualty insurance Exam
Questions and Answers Part one 2025
If a property is covered by Company A for $20,000 and
Company B covers the same property for $40,000, how much
will Company A pay on a $24,000 loss? - Correct Answers
✅$8,000
The risk management technique that is used to prevent a
specific loss by not exposing oneself to that activity is called -
Correct Answers ✅Avoidance.
In a farm policy, any cost incurred by the insurer for the
investigation or defense of a claim will be paid by - Correct
Answers ✅The insurer.
Which of the following entities must approve all continuing
education courses in this state? - Correct Answers ✅The
Commissioner
An applicant knowingly fails to communicate information that
would help an underwriter make a sound decision regarding
coverage. This is an example of - Correct Answers
✅Concealment
A common exclusion found under physical damage to your
auto includes - Correct Answers ✅Mechanical breakdown.
