Property And Casualty Insurance Exam Qu
Answers Part One
Which cof cthe cfollowing care cthe cauthorities cthat can cagent ccan chold? c- cCORRECT cANS✔✔Exp
Which cof cthe cfollowing cterms crefers cto csuch cdisabilities cthe closs cof ca climb, chearing c, cor ceye c
cANS✔✔Permanent cpartial cdisability
Who cis cNOT cconsidered can cemployee cin can ccommercial cgeneral cliability c(CGL) cpolicy? c- cCOR
cworker
The cmajor cportion cof cthe cpremium cof can cequipment cbreakdown cpolicy cpays? c- cCORRECT cAN
cexaminations
An cinsured cowns ca cbuilding cvalued cat c$400,000. cTo ccomply cwith cthe c80% ccoinsurance cprovis
chow c, cmuch cshould che cinsure cthe cproperty cfor? c- cCORRECT cANS✔✔80% cof cthe cproperty's c
Under cthe cFair cCredit cReporting cAct, cif cthe cconsumer cchallenges cthe caccuracy cof cthe cinforma
creport, cthe creporting cagency cmust c- cCORRECT cANS✔✔Respond cto cthe cconsumer's ccomplain
All cof cthe cfollowing care cfound cin cthe cdeclarations csection cof ca cpolicy cEXCEPT cthe c- cCORREC
The ccost cof crestoring cfarm crecords cis can cadditional ccoverage coffered cunder ca cfarm cpolicy. cHo
crestore cthe crecords? c- cCORRECT cANS✔✔Up cto c$2,000
All cof cthe cfollowing ccould cbe cconsidered crebates cif coffered cto can cinsured cin cthe csale cof cinsur
cANS✔✔Dividends cfrom ca cmutual cinsurer.
Which cof cthe cfollowing cmay cbe ccovered cby celectronic cdata cprocessing ccoverage cform cunder ca
cCORRECT cANS✔✔a) cComputer chardware cthat cis cspecifically cscheduled.
b) cExtra cexpense cthe cinsured cincurs cto ccontinue cthe cbusiness cfollowing ca closs.
c) cData cprocessing cmedia, cincluding cmagnetic ctapes cor cpaper ctapes, cpunch ccards cand cdiscs
, If ca cproperty cis ccovered cby cCompany cA cfor c$20,000 cand cCompany cB ccovers cthe csame cprope
cwill cCompany cA cpay con ca c$24,000 closs? c- cCORRECT cANS✔✔$8,000
The crisk cmanagement ctechnique cthat cis cused cto cprevent ca cspecific closs cby cnot cexposing cone
cCORRECT cANS✔✔Avoidance.
In ca cfarm cpolicy, cany ccost cincurred cby cthe cinsurer cfor cthe cinvestigation cor cdefense cof ca cclaim
cANS✔✔The cinsurer.
Which cof cthe cfollowing centities cmust capprove call ccontinuing ceducation ccourses cin cthis cstate? c
cCommissioner
An capplicant cknowingly cfails cto ccommunicate cinformation cthat cwould chelp can cunderwriter cmake
ccoverage. cThis cis can cexample cof c- cCORRECT cANS✔✔Concealment
A ccommon cexclusion cfound cunder cphysical cdamage cto cyour cauto cincludes c- cCORRECT cANS✔
Which cof cthe cfollowing cis ctrue cregarding ca crisk cretention cgroup? c- cCORRECT cANS✔✔It cis ca c
cowned cby cits cmembers.
Which cof cthe cfollowing cbest cdescribes ca cmisrepresentation? c- cCORRECT cANS✔✔Issuing csale
cstatements cabout cpolicy cbenefits
A cbuilder's crisk cform cis cmost coften cwritten cas cwhich cof cthe cfollowing? c- cCORRECT cANS✔✔C
An cinsured chas ca cliability cpolicy cthat csets cthe camount cfor call cclaims cthat carise cfrom ca csingle c
ctype cof climit cof cliability cdoes cthis cinsured's cpolicy chave? c- cCORRECT cANS✔✔Per coccurrence
Which cof cthe cfollowing cis can cexample cof ca cprotective csafeguard cin ca cbusinessowners cpolicy?
cANS✔✔Automatic csprinkler csystem
If ca clicensee cwants cto ctransact cinsurance cunder ca cdifferent cname cthan cthat clisted con chis cor ch
cof cthe cfollowing cmust coccur? c- cCORRECT cANS✔✔The cchange cmust cbe creported cto cthe cCom
If cmore cthan cone cperson chas can cinsurable cinterest cin cthe cproperty ccovered cunder ca cdwelling
cANS✔✔The cinsurer cwill cbe cliable cfor conly cthe cinsured's cinterest cin cthe cdamaged cproperty.
Bob's chome cis cinsured cfor c$100,000 cunder ca cdwelling cpolicy. cYesterday chis chome csuffered c$
cToday cthe chome cwas cstruck cby clightning, cstarting canother cfire cthat ccompletely cdestroyed cthe
cpay c- cCORRECT cANS✔✔$100,000.
An cautomobile cthat cis cowned cby ca cnontraditional chousehold, cnot cconsisting cof ca chusband cand
ca cpersonal cauto cpolicy cif c- cCORRECT cANS✔✔A cjoint cownership ccoverage cendorsement cis ca
Which cof cthe cfollowing cis cdefined cas ca ccovered ccause cof closs cin cbusinessowners cproperty cco
cANS✔✔Leakage cfrom cfire-extinguishing cequipment
The cinsured's cmother-in-law cbroke cher cleg cfalling cdown cthe cfront csteps cof cthe cinsured's cpremi
chomeowners cmedical cpayments ccoverage cwill c- cCORRECT cANS✔✔Apply cto cinjuries cof cany cg
All cof cthe cfollowing care cexclusions cunder cfarm cproperty ccoverage cEXCEPT c- cCORRECT cANS
Coverage cfor cmedical cpayments cunder ca cpersonal cauto cpolicy capplies cto cexpenses cfollowing c
cincurred cand cservices crendered cwithin cwhat cmaximum ctime cperiod? c- cCORRECT cANS✔✔3 cy
Answers Part One
Which cof cthe cfollowing care cthe cauthorities cthat can cagent ccan chold? c- cCORRECT cANS✔✔Exp
Which cof cthe cfollowing cterms crefers cto csuch cdisabilities cthe closs cof ca climb, chearing c, cor ceye c
cANS✔✔Permanent cpartial cdisability
Who cis cNOT cconsidered can cemployee cin can ccommercial cgeneral cliability c(CGL) cpolicy? c- cCOR
cworker
The cmajor cportion cof cthe cpremium cof can cequipment cbreakdown cpolicy cpays? c- cCORRECT cAN
cexaminations
An cinsured cowns ca cbuilding cvalued cat c$400,000. cTo ccomply cwith cthe c80% ccoinsurance cprovis
chow c, cmuch cshould che cinsure cthe cproperty cfor? c- cCORRECT cANS✔✔80% cof cthe cproperty's c
Under cthe cFair cCredit cReporting cAct, cif cthe cconsumer cchallenges cthe caccuracy cof cthe cinforma
creport, cthe creporting cagency cmust c- cCORRECT cANS✔✔Respond cto cthe cconsumer's ccomplain
All cof cthe cfollowing care cfound cin cthe cdeclarations csection cof ca cpolicy cEXCEPT cthe c- cCORREC
The ccost cof crestoring cfarm crecords cis can cadditional ccoverage coffered cunder ca cfarm cpolicy. cHo
crestore cthe crecords? c- cCORRECT cANS✔✔Up cto c$2,000
All cof cthe cfollowing ccould cbe cconsidered crebates cif coffered cto can cinsured cin cthe csale cof cinsur
cANS✔✔Dividends cfrom ca cmutual cinsurer.
Which cof cthe cfollowing cmay cbe ccovered cby celectronic cdata cprocessing ccoverage cform cunder ca
cCORRECT cANS✔✔a) cComputer chardware cthat cis cspecifically cscheduled.
b) cExtra cexpense cthe cinsured cincurs cto ccontinue cthe cbusiness cfollowing ca closs.
c) cData cprocessing cmedia, cincluding cmagnetic ctapes cor cpaper ctapes, cpunch ccards cand cdiscs
, If ca cproperty cis ccovered cby cCompany cA cfor c$20,000 cand cCompany cB ccovers cthe csame cprope
cwill cCompany cA cpay con ca c$24,000 closs? c- cCORRECT cANS✔✔$8,000
The crisk cmanagement ctechnique cthat cis cused cto cprevent ca cspecific closs cby cnot cexposing cone
cCORRECT cANS✔✔Avoidance.
In ca cfarm cpolicy, cany ccost cincurred cby cthe cinsurer cfor cthe cinvestigation cor cdefense cof ca cclaim
cANS✔✔The cinsurer.
Which cof cthe cfollowing centities cmust capprove call ccontinuing ceducation ccourses cin cthis cstate? c
cCommissioner
An capplicant cknowingly cfails cto ccommunicate cinformation cthat cwould chelp can cunderwriter cmake
ccoverage. cThis cis can cexample cof c- cCORRECT cANS✔✔Concealment
A ccommon cexclusion cfound cunder cphysical cdamage cto cyour cauto cincludes c- cCORRECT cANS✔
Which cof cthe cfollowing cis ctrue cregarding ca crisk cretention cgroup? c- cCORRECT cANS✔✔It cis ca c
cowned cby cits cmembers.
Which cof cthe cfollowing cbest cdescribes ca cmisrepresentation? c- cCORRECT cANS✔✔Issuing csale
cstatements cabout cpolicy cbenefits
A cbuilder's crisk cform cis cmost coften cwritten cas cwhich cof cthe cfollowing? c- cCORRECT cANS✔✔C
An cinsured chas ca cliability cpolicy cthat csets cthe camount cfor call cclaims cthat carise cfrom ca csingle c
ctype cof climit cof cliability cdoes cthis cinsured's cpolicy chave? c- cCORRECT cANS✔✔Per coccurrence
Which cof cthe cfollowing cis can cexample cof ca cprotective csafeguard cin ca cbusinessowners cpolicy?
cANS✔✔Automatic csprinkler csystem
If ca clicensee cwants cto ctransact cinsurance cunder ca cdifferent cname cthan cthat clisted con chis cor ch
cof cthe cfollowing cmust coccur? c- cCORRECT cANS✔✔The cchange cmust cbe creported cto cthe cCom
If cmore cthan cone cperson chas can cinsurable cinterest cin cthe cproperty ccovered cunder ca cdwelling
cANS✔✔The cinsurer cwill cbe cliable cfor conly cthe cinsured's cinterest cin cthe cdamaged cproperty.
Bob's chome cis cinsured cfor c$100,000 cunder ca cdwelling cpolicy. cYesterday chis chome csuffered c$
cToday cthe chome cwas cstruck cby clightning, cstarting canother cfire cthat ccompletely cdestroyed cthe
cpay c- cCORRECT cANS✔✔$100,000.
An cautomobile cthat cis cowned cby ca cnontraditional chousehold, cnot cconsisting cof ca chusband cand
ca cpersonal cauto cpolicy cif c- cCORRECT cANS✔✔A cjoint cownership ccoverage cendorsement cis ca
Which cof cthe cfollowing cis cdefined cas ca ccovered ccause cof closs cin cbusinessowners cproperty cco
cANS✔✔Leakage cfrom cfire-extinguishing cequipment
The cinsured's cmother-in-law cbroke cher cleg cfalling cdown cthe cfront csteps cof cthe cinsured's cpremi
chomeowners cmedical cpayments ccoverage cwill c- cCORRECT cANS✔✔Apply cto cinjuries cof cany cg
All cof cthe cfollowing care cexclusions cunder cfarm cproperty ccoverage cEXCEPT c- cCORRECT cANS
Coverage cfor cmedical cpayments cunder ca cpersonal cauto cpolicy capplies cto cexpenses cfollowing c
cincurred cand cservices crendered cwithin cwhat cmaximum ctime cperiod? c- cCORRECT cANS✔✔3 cy
