INSURANCE PROPERTY AND CASUALTY
LATEST EXAM 2025 WITH MULTIPLE CHOICE
OF QUESTIONS AND DETAILED CORRECT
ANSWERS ALREADY GRADED A+ AND 100%
GUARANTEE PASS (JUST RELEASED!!!!!)
How many credit hours of excess continuing education are
producers allowed to carry over to the next renewal cycle? -
CORRECT ANSWER-12 hours
Because an insurance policy is a legal contract, it must conform
to the state laws governing contracts which require all of the
following elements EXCEPT - CORRECT ANSWER-Conditions.
With respect to the personal auto policy, which of the following
vehicles could be classified as a nonowned auto? - CORRECT
ANSWER-A vehicle that is titled to another person, but is being
used with permission by an insured
All of the following statements regarding a boatowners policy
are true EXCEPT - CORRECT ANSWER-Replacements for the boat
listed in the Declarations are automatically covered, if the
insured notifies the insurer within 60 days and pays the
additional premium.
,A policy that insures all property at multiple locations for a
single amount is referred to as - CORRECT ANSWER-Blanket.
How long does a producer have after writing a Fire insurance
contract to have the building inspected? - CORRECT ANSWER-90
days
All of the following are classes of inland marine risks EXCEPT -
CORRECT ANSWER-Common Carrier Cargo Liability
Section I of a boatowners policy covers - CORRECT ANSWER-Physical
damage.
Under a dwelling policy, the insurer will be liable for no more
than the insured's interest in a damaged property if the
property is insured by - CORRECT ANSWER-More than 1 person.
When an insured makes truthful statements on the application
for insurance and pays the required premium, it is known as
which of the following? - CORRECT ANSWER-Consideration
How long is the waiting period after the application has been
accepted before flood coverage goes into effect? - CORRECT ANSWER-
30 days
What must be included in notice of cancellation or intent not to
renew an auto liability policy? - CORRECT ANSWER-A notice
informing the insured of his/her possible eligibility for
insurance through the automobile assigned risk plan
,Alan has a Personal Auto Policy with Part C limits of
$100/$300 Uninsured/Underinsured Motorist. Alan is injured
by Ben who has Part A limits of $50/$100. The police
determine that Ben is at fault for the accident and Alan's
$125,000 of medical expense. How much will Alan's Part C
pay? - CORRECT ANSWER-$50,000
What is the deductible of a personal liability umbrella policy
called? - CORRECT ANSWER-The self-insured retention (SIR)
If a producer fails to place a reasonable value on a property
being insured for fire within 90 days, and a loss occurs, upon
what will the settlement be based? - CORRECT ANSWER-The value as
shown by the policy or application
For which of the following reasons may an auto insurance
policy which has been in effect for 60 days be cancelled? -
CORRECT ANSWER-The named insured obtained the policy through
material misrepresentation.
In the personal auto policy, owned trailers being towed by an
insured auto are automatically covered for - CORRECT ANSWER-
Uninsured motorists coverage.
In commercial policies, who has control of the policy? - CORRECT
ANSWER-First named insured
All of the following statements are true regarding physical
damage coverage EXCEPT - CORRECT ANSWER-The limit of liability
, is the greater of the ACV of the vehicle at the time of loss or the
amount necessary to repair or replace the vehicle.
Property insurance that provides $100,000 coverage for a
building and $50,000 coverage for personal property at a single
location is called - CORRECT ANSWER-Specific coverage.
An insurer devises an intimidation strategy in order to corner a
large portion of the insurance market. Which of the following
best describes this practice? - CORRECT ANSWER-Illegal
Insurable interest in the property covered in a policy must be
proven - CORRECT ANSWER-At time of application
When a producer was reviewing a potential customer's
insurance coverage that is written by another company, the
producer made several oral statements that were maliciously
critical of that other insurer. The producer could be found guilty
of - CORRECT ANSWER-Defamation.
Which of the following clauses establishes the procedure for
determining the amount of a loss when the insurer and the
insured cannot agree on the value of property or amount of
loss? - CORRECT ANSWER-Appraisal clause
All of the following statements concerning coinsurance are true,
EXCEPT - CORRECT ANSWER-The coinsurance formula also will be
applied to total losses.
LATEST EXAM 2025 WITH MULTIPLE CHOICE
OF QUESTIONS AND DETAILED CORRECT
ANSWERS ALREADY GRADED A+ AND 100%
GUARANTEE PASS (JUST RELEASED!!!!!)
How many credit hours of excess continuing education are
producers allowed to carry over to the next renewal cycle? -
CORRECT ANSWER-12 hours
Because an insurance policy is a legal contract, it must conform
to the state laws governing contracts which require all of the
following elements EXCEPT - CORRECT ANSWER-Conditions.
With respect to the personal auto policy, which of the following
vehicles could be classified as a nonowned auto? - CORRECT
ANSWER-A vehicle that is titled to another person, but is being
used with permission by an insured
All of the following statements regarding a boatowners policy
are true EXCEPT - CORRECT ANSWER-Replacements for the boat
listed in the Declarations are automatically covered, if the
insured notifies the insurer within 60 days and pays the
additional premium.
,A policy that insures all property at multiple locations for a
single amount is referred to as - CORRECT ANSWER-Blanket.
How long does a producer have after writing a Fire insurance
contract to have the building inspected? - CORRECT ANSWER-90
days
All of the following are classes of inland marine risks EXCEPT -
CORRECT ANSWER-Common Carrier Cargo Liability
Section I of a boatowners policy covers - CORRECT ANSWER-Physical
damage.
Under a dwelling policy, the insurer will be liable for no more
than the insured's interest in a damaged property if the
property is insured by - CORRECT ANSWER-More than 1 person.
When an insured makes truthful statements on the application
for insurance and pays the required premium, it is known as
which of the following? - CORRECT ANSWER-Consideration
How long is the waiting period after the application has been
accepted before flood coverage goes into effect? - CORRECT ANSWER-
30 days
What must be included in notice of cancellation or intent not to
renew an auto liability policy? - CORRECT ANSWER-A notice
informing the insured of his/her possible eligibility for
insurance through the automobile assigned risk plan
,Alan has a Personal Auto Policy with Part C limits of
$100/$300 Uninsured/Underinsured Motorist. Alan is injured
by Ben who has Part A limits of $50/$100. The police
determine that Ben is at fault for the accident and Alan's
$125,000 of medical expense. How much will Alan's Part C
pay? - CORRECT ANSWER-$50,000
What is the deductible of a personal liability umbrella policy
called? - CORRECT ANSWER-The self-insured retention (SIR)
If a producer fails to place a reasonable value on a property
being insured for fire within 90 days, and a loss occurs, upon
what will the settlement be based? - CORRECT ANSWER-The value as
shown by the policy or application
For which of the following reasons may an auto insurance
policy which has been in effect for 60 days be cancelled? -
CORRECT ANSWER-The named insured obtained the policy through
material misrepresentation.
In the personal auto policy, owned trailers being towed by an
insured auto are automatically covered for - CORRECT ANSWER-
Uninsured motorists coverage.
In commercial policies, who has control of the policy? - CORRECT
ANSWER-First named insured
All of the following statements are true regarding physical
damage coverage EXCEPT - CORRECT ANSWER-The limit of liability
, is the greater of the ACV of the vehicle at the time of loss or the
amount necessary to repair or replace the vehicle.
Property insurance that provides $100,000 coverage for a
building and $50,000 coverage for personal property at a single
location is called - CORRECT ANSWER-Specific coverage.
An insurer devises an intimidation strategy in order to corner a
large portion of the insurance market. Which of the following
best describes this practice? - CORRECT ANSWER-Illegal
Insurable interest in the property covered in a policy must be
proven - CORRECT ANSWER-At time of application
When a producer was reviewing a potential customer's
insurance coverage that is written by another company, the
producer made several oral statements that were maliciously
critical of that other insurer. The producer could be found guilty
of - CORRECT ANSWER-Defamation.
Which of the following clauses establishes the procedure for
determining the amount of a loss when the insurer and the
insured cannot agree on the value of property or amount of
loss? - CORRECT ANSWER-Appraisal clause
All of the following statements concerning coinsurance are true,
EXCEPT - CORRECT ANSWER-The coinsurance formula also will be
applied to total losses.
