ACA EXAM QUESTIONS | TESTED AND PROVEN
ANSWERS | LATEST UPDATE 2024/2025 100%
(GRADE A+)
A property policy covers "fire" as a peril. A small fire starts, fortunately, the fire department
quickly arrives and puts out the fire. Unfortunately, there is water damage due to the water from
the fire hoses. This water damage would be covered because
Ans>> Fire was the proximate cause of damage
The coverage for damage due to an aircraft under the care, custody, or control of the insured
while the plane is in for storage or service is:
Ans>> Hangarkeepers liability
Under the commercial property form, what length of time must expire before a building is
considered "vacant" -- thereby suspending some coverages, while reducing payment on others?
Ans>> 60 days
A florist wanted coverage on business contents, which vary in amount over the course of a year.
Which form best covers this situation?
Ans>> The value reporting endorsement
1
,A community applied to be part of the National Flood Insurance Program. Until they are
approved, what is the status of the community of the community?
Ans>> They are in the emergency program
Both commercial property and liability were combined into one policy, thus saving money on
underwriting expense. What is this combination called?
Ans>> A package policy
What is the smallest amount of liability insurance under the business-owners policy (BOP)?
Ans>> $300,000
Which of the following would be excluded under a personal articles floater on an "all risks"
basis?
Ans>> Insects destroy a valuable postage stamp worth $500
A ship loaded with lumber encountered a terrible storm, and some of the lumber was thrown
overboard to save the ship - this action is called:
2
, Ans>> Jettison
A contracted was concerned some of his tools, such as a welder, could be stolen from the job site.
What inland marine form is best suited for this exposure?
Ans>> The contractors equipment floater
All of the following are exclusions under the Personal Inland Marine Policy EXCEPT:
Ans>> Theft from and "off site" location
An Umbrella Policy may be broader than the underlying policies and respond as primary
coverage. When the Umbrella is primary, there is an amount to be paid by the insured - this is
called:
Ans>> The self-insured retention
If a person does not own an auto, but must provide Auto Liability, for what would he ask his
agent?
Ans>> A named non-owned policy
3
ANSWERS | LATEST UPDATE 2024/2025 100%
(GRADE A+)
A property policy covers "fire" as a peril. A small fire starts, fortunately, the fire department
quickly arrives and puts out the fire. Unfortunately, there is water damage due to the water from
the fire hoses. This water damage would be covered because
Ans>> Fire was the proximate cause of damage
The coverage for damage due to an aircraft under the care, custody, or control of the insured
while the plane is in for storage or service is:
Ans>> Hangarkeepers liability
Under the commercial property form, what length of time must expire before a building is
considered "vacant" -- thereby suspending some coverages, while reducing payment on others?
Ans>> 60 days
A florist wanted coverage on business contents, which vary in amount over the course of a year.
Which form best covers this situation?
Ans>> The value reporting endorsement
1
,A community applied to be part of the National Flood Insurance Program. Until they are
approved, what is the status of the community of the community?
Ans>> They are in the emergency program
Both commercial property and liability were combined into one policy, thus saving money on
underwriting expense. What is this combination called?
Ans>> A package policy
What is the smallest amount of liability insurance under the business-owners policy (BOP)?
Ans>> $300,000
Which of the following would be excluded under a personal articles floater on an "all risks"
basis?
Ans>> Insects destroy a valuable postage stamp worth $500
A ship loaded with lumber encountered a terrible storm, and some of the lumber was thrown
overboard to save the ship - this action is called:
2
, Ans>> Jettison
A contracted was concerned some of his tools, such as a welder, could be stolen from the job site.
What inland marine form is best suited for this exposure?
Ans>> The contractors equipment floater
All of the following are exclusions under the Personal Inland Marine Policy EXCEPT:
Ans>> Theft from and "off site" location
An Umbrella Policy may be broader than the underlying policies and respond as primary
coverage. When the Umbrella is primary, there is an amount to be paid by the insured - this is
called:
Ans>> The self-insured retention
If a person does not own an auto, but must provide Auto Liability, for what would he ask his
agent?
Ans>> A named non-owned policy
3
