Personal Lines Final Exam Most Recent exam
COMPLETE (2025) EXAM Questions and Answers
(Verified Answers) (Latest Update 2025) UPDATE!!
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Terms in this set (78)
Statements made in the B. Representations
application are
considered:
A. Warranties
B. Representations
C. Possible Concealments
D. None of the Above
The definition of Risk is: A. Uncertainty regarding loss
A. Uncertainty regarding
loss
B. A chance of gain
C. Uncertainty regarding
gain or profit
D. Intended unforseen
damage to property for
gain or profit
,A financial device for D. Insurance
transferring or shifting risk
from an individual or entity
to a large group with the
same risk is the definition
of:
A. Avoidance
B. Retention
C. Transfer
D. Insurance
Hazards include which of C. Both 1 & 2
the following:
1. Unintended oily rags
stacked in a corner
2. A homeowner's
carelessness because he
has insurance
A. 1 only
B. 2 only
C. Both 1 & 2
D. Neither 1 or 2
,The mortgage condition in C. Both 1 & 2
a property policy:
1. Guarantees that the
lending institutions may
act for itself in paying a
premium
2. Guarantees claim
payments will be divided
as the interests of the
insurance and mortgagee
appear
A. 1 only
B. 2 only
C. Both 1 & 2
D. Neither 1 nor 2
Which of the following A. Being named in someone's will as an heir
situations does NOT
create an insurable
interest?
A. Being named in
someone's will as an heir
B. Holding a mortgage or
lien on property
C. Having custody or
control of someone else's
property
D. Owning property
, The plumbing in Mrs. B. HO2
Ward's home suddenly
burst and the ceilings
were damaged by water.
Which of the following
homeowner forms would
cover the loss?
A. HO1
B. HO2
C. HO4
D. HO7`
Nicole has a Personal A. $15,000
Auto policy with limits of
10/20/10 for liability
coverage. She causes an
accident that results in
$12,000 bodily injury
damages to the other
driver and $5,000 in
property damage to the
other driver's car. How
much would Nicole's
policy pay for the the BI
and PD losses?
A. $15,000
B. $17,000
C. $10,000
D. $12,000
COMPLETE (2025) EXAM Questions and Answers
(Verified Answers) (Latest Update 2025) UPDATE!!
Save
Terms in this set (78)
Statements made in the B. Representations
application are
considered:
A. Warranties
B. Representations
C. Possible Concealments
D. None of the Above
The definition of Risk is: A. Uncertainty regarding loss
A. Uncertainty regarding
loss
B. A chance of gain
C. Uncertainty regarding
gain or profit
D. Intended unforseen
damage to property for
gain or profit
,A financial device for D. Insurance
transferring or shifting risk
from an individual or entity
to a large group with the
same risk is the definition
of:
A. Avoidance
B. Retention
C. Transfer
D. Insurance
Hazards include which of C. Both 1 & 2
the following:
1. Unintended oily rags
stacked in a corner
2. A homeowner's
carelessness because he
has insurance
A. 1 only
B. 2 only
C. Both 1 & 2
D. Neither 1 or 2
,The mortgage condition in C. Both 1 & 2
a property policy:
1. Guarantees that the
lending institutions may
act for itself in paying a
premium
2. Guarantees claim
payments will be divided
as the interests of the
insurance and mortgagee
appear
A. 1 only
B. 2 only
C. Both 1 & 2
D. Neither 1 nor 2
Which of the following A. Being named in someone's will as an heir
situations does NOT
create an insurable
interest?
A. Being named in
someone's will as an heir
B. Holding a mortgage or
lien on property
C. Having custody or
control of someone else's
property
D. Owning property
, The plumbing in Mrs. B. HO2
Ward's home suddenly
burst and the ceilings
were damaged by water.
Which of the following
homeowner forms would
cover the loss?
A. HO1
B. HO2
C. HO4
D. HO7`
Nicole has a Personal A. $15,000
Auto policy with limits of
10/20/10 for liability
coverage. She causes an
accident that results in
$12,000 bodily injury
damages to the other
driver and $5,000 in
property damage to the
other driver's car. How
much would Nicole's
policy pay for the the BI
and PD losses?
A. $15,000
B. $17,000
C. $10,000
D. $12,000
