Mo property and casualty practice
Study Guide Newest Actual Questions &
Quiz_________________?
49% rule -
Answer✅
The at fault party must be more responsible for the loss than the injured party to collect
Quiz_________________?
50% rule -
Answer✅
States than an injured party cannot be more than half at fault for their own injuries to
collect damages from a negligent patty
Quiz_________________?
A bailee is: -
Answer✅
someone who temporarily cares for the personal property of another, without passage of
title.
Quiz_________________?
A boat owners policy is most similar to an
1
, A. Personal auto policy
B. Dwelling policy
C. Ocean marine hull policy
D. Yacht policy -
Answer✅
Yacht policy
Quiz_________________?
A business hauling goods belonging to other people needs to purchase which policy to
cover good in transit? -
Answer✅
Motor truck cargo coverage which is written on either a trip or transit or annual basis
Quiz_________________?
A Certificate of Insurance is -
Answer✅
Evidence/ proof of insurance coverage and that a policy was issued
Quiz_________________?
A commercial package policy must: -
Answer✅
have at least two coverage forms
Quiz_________________?
A company may cancel a policy for failure to correct material violations by providing how
many days advanced notice? -
Answer✅
30 days
2
, Quiz_________________?
A contractual liability agreement does what? -
Answer✅
Transfers legal responsibility from one party to another
Quiz_________________?
A dwelling policy form are used to fit the needs of personal property for homeowners who
have homes valued for less than $_____ -
Answer✅
$25,000
Quiz_________________?
A dwelling property policy insurers structures that range from: -
Answer✅
1-4 residential dwelling units. Any building with 5 or more units must be insured under a
commercial policy
Quiz_________________?
A farm policy will pay max of $_____ per occurrence for property damage to property
caused by an insured as long as the insured is under 13 years of age even if the act was
intentional -
Answer✅
$1,000
Quiz_________________?
A fine arts policy is covered on which of the following bases?
A. Actual cash value
B. Market value
C. Replacement cost
D. Stated value -
3
, Answer✅
D. Stated value
Quiz_________________?
A group of subscribers establishes insurance through indemnity agreements. What type of
insurer is involved here? -
Answer✅
A reciprocal insurer
Quiz_________________?
A Missouri automobile insurance policy covers everyone except.
A. The 18 year old daughter living in the house
B. The spouse
C. Aunt Vickie living in Arizona
D. The named insured -
Answer✅
C. Aunt Vickie living in Arizona
Quiz_________________?
A person who represents an insurance buyer instead of an insurer is called a -
Answer✅
Broker
A broker does not have a contract with the insurer. A broker represents the insurance
applicant during the buying process
Quiz_________________?
A policy is considered to be void if: -
Answer✅
4
Study Guide Newest Actual Questions &
Quiz_________________?
49% rule -
Answer✅
The at fault party must be more responsible for the loss than the injured party to collect
Quiz_________________?
50% rule -
Answer✅
States than an injured party cannot be more than half at fault for their own injuries to
collect damages from a negligent patty
Quiz_________________?
A bailee is: -
Answer✅
someone who temporarily cares for the personal property of another, without passage of
title.
Quiz_________________?
A boat owners policy is most similar to an
1
, A. Personal auto policy
B. Dwelling policy
C. Ocean marine hull policy
D. Yacht policy -
Answer✅
Yacht policy
Quiz_________________?
A business hauling goods belonging to other people needs to purchase which policy to
cover good in transit? -
Answer✅
Motor truck cargo coverage which is written on either a trip or transit or annual basis
Quiz_________________?
A Certificate of Insurance is -
Answer✅
Evidence/ proof of insurance coverage and that a policy was issued
Quiz_________________?
A commercial package policy must: -
Answer✅
have at least two coverage forms
Quiz_________________?
A company may cancel a policy for failure to correct material violations by providing how
many days advanced notice? -
Answer✅
30 days
2
, Quiz_________________?
A contractual liability agreement does what? -
Answer✅
Transfers legal responsibility from one party to another
Quiz_________________?
A dwelling policy form are used to fit the needs of personal property for homeowners who
have homes valued for less than $_____ -
Answer✅
$25,000
Quiz_________________?
A dwelling property policy insurers structures that range from: -
Answer✅
1-4 residential dwelling units. Any building with 5 or more units must be insured under a
commercial policy
Quiz_________________?
A farm policy will pay max of $_____ per occurrence for property damage to property
caused by an insured as long as the insured is under 13 years of age even if the act was
intentional -
Answer✅
$1,000
Quiz_________________?
A fine arts policy is covered on which of the following bases?
A. Actual cash value
B. Market value
C. Replacement cost
D. Stated value -
3
, Answer✅
D. Stated value
Quiz_________________?
A group of subscribers establishes insurance through indemnity agreements. What type of
insurer is involved here? -
Answer✅
A reciprocal insurer
Quiz_________________?
A Missouri automobile insurance policy covers everyone except.
A. The 18 year old daughter living in the house
B. The spouse
C. Aunt Vickie living in Arizona
D. The named insured -
Answer✅
C. Aunt Vickie living in Arizona
Quiz_________________?
A person who represents an insurance buyer instead of an insurer is called a -
Answer✅
Broker
A broker does not have a contract with the insurer. A broker represents the insurance
applicant during the buying process
Quiz_________________?
A policy is considered to be void if: -
Answer✅
4
