Kentucky Property/Casualty State Exam
Questions With 100% Complete
Solutions 2025|2026 Latest Update
Hull Insurance - CORRECT ANSWER-covers physical damage to the ship
or vessel while in transit over water.
Cargo Insurance - CORRECT ANSWER-covers goods while they are in
transit over water.
Freight Insurance - CORRECT ANSWER-covers the loss of shipping goods.
Protection and Indemnity Insurance - CORRECT ANSWER-covers
watercraft liability exposures.
Jettison - CORRECT ANSWER-a voluntary sacrifice of cargo to prevent
further peril.
,Barratry - CORRECT ANSWER-Illegal acts committed willfully by a ship's
master or crew for the purpose of damaging the ship or cargo. This
Ocean Marine peril includes hijacking, abandonment and
embezzlement of the cargo.
Workers' Compensation Laws - CORRECT ANSWER-give employees the
right to collect from their employers for injury, disability, or death that
occurs in the course of employment.
Monopolistic State Fund - CORRECT ANSWER-requires employers to
purchase workers compensation insurance from then.
Competitive State Funds - CORRECT ANSWER-give employers a choice
between purchasing workers comp insurance from a state fund or a
private insurance company.
Aletory - CORRECT ANSWER-contingent on a uncertain event (or loss)
that provides for unequal transfer of value between the parties
, Adhesion - CORRECT ANSWER-one party has greater power over the
other party in the contract.
unilateral - CORRECT ANSWER-one-sided
Utmost Good Faith - CORRECT ANSWER-The insurance company relies
on the truthfulness and integrity of the applicant when issuing a policy.
Declarations - CORRECT ANSWER-first page of the policy, provides info
such as the name of the insured, the address, the amount of coverage
provided, a description of the property, and the cost of the policy.
Insuring Agreement - CORRECT ANSWER-The heart of the policy which
states in general what is to be covered or, in other words, the losses for
which the insured will be indemnified. This section also describes the
type of property covered and the perils against which it is insured.
Questions With 100% Complete
Solutions 2025|2026 Latest Update
Hull Insurance - CORRECT ANSWER-covers physical damage to the ship
or vessel while in transit over water.
Cargo Insurance - CORRECT ANSWER-covers goods while they are in
transit over water.
Freight Insurance - CORRECT ANSWER-covers the loss of shipping goods.
Protection and Indemnity Insurance - CORRECT ANSWER-covers
watercraft liability exposures.
Jettison - CORRECT ANSWER-a voluntary sacrifice of cargo to prevent
further peril.
,Barratry - CORRECT ANSWER-Illegal acts committed willfully by a ship's
master or crew for the purpose of damaging the ship or cargo. This
Ocean Marine peril includes hijacking, abandonment and
embezzlement of the cargo.
Workers' Compensation Laws - CORRECT ANSWER-give employees the
right to collect from their employers for injury, disability, or death that
occurs in the course of employment.
Monopolistic State Fund - CORRECT ANSWER-requires employers to
purchase workers compensation insurance from then.
Competitive State Funds - CORRECT ANSWER-give employers a choice
between purchasing workers comp insurance from a state fund or a
private insurance company.
Aletory - CORRECT ANSWER-contingent on a uncertain event (or loss)
that provides for unequal transfer of value between the parties
, Adhesion - CORRECT ANSWER-one party has greater power over the
other party in the contract.
unilateral - CORRECT ANSWER-one-sided
Utmost Good Faith - CORRECT ANSWER-The insurance company relies
on the truthfulness and integrity of the applicant when issuing a policy.
Declarations - CORRECT ANSWER-first page of the policy, provides info
such as the name of the insured, the address, the amount of coverage
provided, a description of the property, and the cost of the policy.
Insuring Agreement - CORRECT ANSWER-The heart of the policy which
states in general what is to be covered or, in other words, the losses for
which the insured will be indemnified. This section also describes the
type of property covered and the perils against which it is insured.
