Exam Fx-Property and Casualty Exam questions with correct answers

To be considered an insurable risk, a loss may NOT be CORRECT ANSWER catastrophic Which of the following persons would be required to hold a producer license? CORRECT ANSWER a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? CORRECT ANSWER ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? CORRECT ANSWER the difference in the actual cash value as a pair and as a single Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling policies? CORRECT ANSWER internal explosion When would a misrepresentation on the insurance application be considered fraud? CORRECT ANSWER If it is intentional and material A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as the CORRECT ANSWER penalty In insurance, an offer is usually made when CORRECT ANSWER the application is submitted