property and casualty exam questions with correct answers

The Commercial Property policy applies a limit of what dollar amount for business personal property temporarily away from the premises? CORRECT ANSWER $10,000 What is the name of the organization created to provide auto insurance to individuals who have been unable to obtain it through the private market? CORRECT ANSWER The Connecticut Automobile Insurance Assigned Risk Plan Which term describes the situation when two policies covering the same property contain different policy periods? CORRECT ANSWER Nonconcurrency Which of the following is true about an aggregate limit? CORRECT ANSWER It applies to losses from all occurrences within a specified policy period Which of the following is not true about medical payments under the Personal Auto Policy? CORRECT ANSWER Coverage applies only for medical expenses incurred within one year of the accident Section II of the Garage Coverage Form does not cover: CORRECT ANSWER Damage to the customer's car in the insured's care Policyholder J has a no-fault auto policy. Upon being hit by a driver that ran a stop light, J suffers a broken leg. Whose insurance company will pay for J's injury? CORRECT ANSWER J's insurer Which of the following is correct about aircraft liability insurance? CORRECT ANSWER A passenger may be cove