MASTERY EXAM 2026 CERTIFICATION
EVALUATION TEST PAPER QUESTIONS
SOLUTIONS GRADED A PLUS
◉ Under the building and personal property coverage form, the
duties in the event of loss condition states that after a loss, the
insured must send a signed, sworn statement to the insurance
company within...
a. 90 days
b. 60 days
c. 30 days
d. 45 days.
Answer: c. 30 days
◉ The golf shop, located at the golf course, is open all year. However,
the highest levels of inventory are carried between May and
September. What is the best way to insure the increase in coverage
for those months?
a. value reporting form
b. peak season endorsement
blanket policy
business income and extra expense endorsement.
Answer: b. peak season endorsement
,◉ Restaurants and bars present a risk exposure for bodily injury and
property damage for which the insured may become liable as a
result of contributing to a person's intoxication. The coverage these
businesses require is...
a. commercial general liability
b. liquor liability insurance
c. premises liability insurance
d. products liability insurance.
Answer: b. liquor liability insurance
◉ If an insurer violates any section of the insurance code, what can
the Commissioner issue to stop the insurer from committing the
violation?
a. notice of a hearing
b. cease and desist order
c. suspension order
d. notice of violation.
Answer: b. cease and desist
◉ which of the following coverages is included in the homeowners
policy but is not included in an unendorsed dwelling policy?
a. other structures
,b. dwelling
c. personal property
d. liability.
Answer: d. liability
◉ which of the following commercial general liability coverages
would protect a policyholder from assumed liability under a
construction contract to install water lines for a city?
a. completed operations
b. premises liability
c. contractual liability
d. independent contractors.
Answer: c. contractual liability
◉ commercial umbrella liability policies provide coverage...
a. when the underlying contract has been nonrenewed
b. when a loss is excluded under the underlying policy but not
excluded under the umbrella
c. only for a commercial auto liability
d. for usual and everyday types of exposures.
Answer: b. when a loss is excluded in the underlying policy but not
excluded under the umbrella
, ◉ all of the following perils are covered under the basic commercial
property causes of loss form except...
a. falling objects
b. vandalism
c. fire
d. sprinkler leakage.
Answer: a. falling objects
◉ all statements and descriptions in any application for an
insurance policy by an insured are,,,
a. representations and not warranties
b. neither warranties nor representations
c. warranties and not representations
d. both warranties and representations.
Answer: a. representations and not warranties
◉ which of the following could be scheduled under a miscellaneous
type vehicles endorsement to the personal auto policy?
a. taxi
b. company van
c. trailer
d. motorcycle.
EVALUATION TEST PAPER QUESTIONS
SOLUTIONS GRADED A PLUS
◉ Under the building and personal property coverage form, the
duties in the event of loss condition states that after a loss, the
insured must send a signed, sworn statement to the insurance
company within...
a. 90 days
b. 60 days
c. 30 days
d. 45 days.
Answer: c. 30 days
◉ The golf shop, located at the golf course, is open all year. However,
the highest levels of inventory are carried between May and
September. What is the best way to insure the increase in coverage
for those months?
a. value reporting form
b. peak season endorsement
blanket policy
business income and extra expense endorsement.
Answer: b. peak season endorsement
,◉ Restaurants and bars present a risk exposure for bodily injury and
property damage for which the insured may become liable as a
result of contributing to a person's intoxication. The coverage these
businesses require is...
a. commercial general liability
b. liquor liability insurance
c. premises liability insurance
d. products liability insurance.
Answer: b. liquor liability insurance
◉ If an insurer violates any section of the insurance code, what can
the Commissioner issue to stop the insurer from committing the
violation?
a. notice of a hearing
b. cease and desist order
c. suspension order
d. notice of violation.
Answer: b. cease and desist
◉ which of the following coverages is included in the homeowners
policy but is not included in an unendorsed dwelling policy?
a. other structures
,b. dwelling
c. personal property
d. liability.
Answer: d. liability
◉ which of the following commercial general liability coverages
would protect a policyholder from assumed liability under a
construction contract to install water lines for a city?
a. completed operations
b. premises liability
c. contractual liability
d. independent contractors.
Answer: c. contractual liability
◉ commercial umbrella liability policies provide coverage...
a. when the underlying contract has been nonrenewed
b. when a loss is excluded under the underlying policy but not
excluded under the umbrella
c. only for a commercial auto liability
d. for usual and everyday types of exposures.
Answer: b. when a loss is excluded in the underlying policy but not
excluded under the umbrella
, ◉ all of the following perils are covered under the basic commercial
property causes of loss form except...
a. falling objects
b. vandalism
c. fire
d. sprinkler leakage.
Answer: a. falling objects
◉ all statements and descriptions in any application for an
insurance policy by an insured are,,,
a. representations and not warranties
b. neither warranties nor representations
c. warranties and not representations
d. both warranties and representations.
Answer: a. representations and not warranties
◉ which of the following could be scheduled under a miscellaneous
type vehicles endorsement to the personal auto policy?
a. taxi
b. company van
c. trailer
d. motorcycle.
