AD BANKER PROPERTY AND CASUALTY Exam
NEWEST 2025-2026 COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND NEW
VERSION!!
what type of insurance idemnifies the legal liability of an insured for the actions of the insured
subcontractors - CORRECT ANSWER- contingent liability insurance
under moter carrier coverage, trailer interchange coverage would cover - CORRECT ANSWER-
joes company is legally liable for physical damage sustained by a non-owned trailer
larry's business auto policy: "insured" does not cover - CORRECT ANSWER- ed's owned vehicle
that larry borred
commercial crime policy securities include: - CORRECT ANSWER- debt, tokens, revenue stamps.
not included: bank notes
purpose of an umbrella policy - CORRECT ANSWER- cover large and catastophic losses
,marine polices the term uncontrolled: - CORRECT ANSWER- not standarized by any rating bureau
types of coverage provided under a farm liability policy - CORRECT ANSWER- bodily & property
damage, personal and advertising, medical payments
not included
professional liability
Discrimination - CORRECT ANSWER- Permitting individuals of the same class and hazard to be
charged different premium rates for the same coverage
Not covered under NFIP - CORRECT ANSWER- water main in street breaks & floods in home
builder's risk coverage form does not cover - CORRECT ANSWER- trees, plants, outside antennas
building and personal property does not cover - CORRECT ANSWER- windstorm damage that
hurts outdoor signs not attached
when is abandonment allowed under building and personal property coverage form - CORRECT
ANSWER- never
collision in ocean marine covers - CORRECT ANSWER- collision damage to another vessel when
the shipper is liable
business owner policy covers - CORRECT ANSWER- the insured is sued for injury to competitor
caused by one of their advertisements
business owner covers a new building for - CORRECT ANSWER- 30 days
,under business income coverage under BOP - CORRECT ANSWER- coverage is provided for up to
12 months with no limit of indemnification no limit of insurance
earthquake endorsement begins before policy expiration cover is - CORRECT ANSWER- 168 hours
extra expense coverage under a bop - CORRECT ANSWER- 12 months after the direct loss
employers liability insurance will not pay for - CORRECT ANSWER- company picnic injury @
nearby park
most states provide workers comp medical benefits coverage up to the limit - CORRECT
ANSWER- unlimited
not a characteristic of employer-employer relation as it is related to workers compensation
coverage - CORRECT ANSWER- employer signs a contract with an employee
retention - CORRECT ANSWER- amount of money insured is responible for a claim
retention risk - CORRECT ANSWER- assumption of it, they absorb it themselves instead of
transferring
retention examlpes - CORRECT ANSWER- deductibles, non insurance, self insurance
boycott insurance - CORRECT ANSWER- trade practice when someone refuses to have business
dealing with another until he/she complises with certain conditions/concessions (peaceful
persuasion)
, coehesion - CORRECT ANSWER- unfair trade pratice, not peaceful
works comp insurance schedule of benefits applies to - CORRECT ANSWER- permanent partial
disability
under basic dwelling form when damage is caused by VMM, is included as a covered? -
CORRECT ANSWER- VMM can be added; original covered = fire lightening internal explosion
Redlining - CORRECT ANSWER- a practice in which banks refuse to make loans to people living in
certain geographic locations
coverage c - dwelling covers who's personal property - CORRECT ANSWER- guest
following conditions under building and personal property coverage form determines how loses
will be pd - CORRECT ANSWER- valuation loss
DP homeowners exclusions
WEPIN (G) NOW - CORRECT ANSWER- water, earthquake, power failure, intentional loss, neglect
(goverment), nuclear, ordinance or law, war
falsley testifies in an investigation/examination - CORRECT ANSWER- misdemeanor
what is the limit of watercraft liability in the homeowners broad form - CORRECT ANSWER-
$1500 including trailers
pwer to administer the insurance laws of the state designed to protect - CORRECT ANSWER- the
public
NEWEST 2025-2026 COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND NEW
VERSION!!
what type of insurance idemnifies the legal liability of an insured for the actions of the insured
subcontractors - CORRECT ANSWER- contingent liability insurance
under moter carrier coverage, trailer interchange coverage would cover - CORRECT ANSWER-
joes company is legally liable for physical damage sustained by a non-owned trailer
larry's business auto policy: "insured" does not cover - CORRECT ANSWER- ed's owned vehicle
that larry borred
commercial crime policy securities include: - CORRECT ANSWER- debt, tokens, revenue stamps.
not included: bank notes
purpose of an umbrella policy - CORRECT ANSWER- cover large and catastophic losses
,marine polices the term uncontrolled: - CORRECT ANSWER- not standarized by any rating bureau
types of coverage provided under a farm liability policy - CORRECT ANSWER- bodily & property
damage, personal and advertising, medical payments
not included
professional liability
Discrimination - CORRECT ANSWER- Permitting individuals of the same class and hazard to be
charged different premium rates for the same coverage
Not covered under NFIP - CORRECT ANSWER- water main in street breaks & floods in home
builder's risk coverage form does not cover - CORRECT ANSWER- trees, plants, outside antennas
building and personal property does not cover - CORRECT ANSWER- windstorm damage that
hurts outdoor signs not attached
when is abandonment allowed under building and personal property coverage form - CORRECT
ANSWER- never
collision in ocean marine covers - CORRECT ANSWER- collision damage to another vessel when
the shipper is liable
business owner policy covers - CORRECT ANSWER- the insured is sued for injury to competitor
caused by one of their advertisements
business owner covers a new building for - CORRECT ANSWER- 30 days
,under business income coverage under BOP - CORRECT ANSWER- coverage is provided for up to
12 months with no limit of indemnification no limit of insurance
earthquake endorsement begins before policy expiration cover is - CORRECT ANSWER- 168 hours
extra expense coverage under a bop - CORRECT ANSWER- 12 months after the direct loss
employers liability insurance will not pay for - CORRECT ANSWER- company picnic injury @
nearby park
most states provide workers comp medical benefits coverage up to the limit - CORRECT
ANSWER- unlimited
not a characteristic of employer-employer relation as it is related to workers compensation
coverage - CORRECT ANSWER- employer signs a contract with an employee
retention - CORRECT ANSWER- amount of money insured is responible for a claim
retention risk - CORRECT ANSWER- assumption of it, they absorb it themselves instead of
transferring
retention examlpes - CORRECT ANSWER- deductibles, non insurance, self insurance
boycott insurance - CORRECT ANSWER- trade practice when someone refuses to have business
dealing with another until he/she complises with certain conditions/concessions (peaceful
persuasion)
, coehesion - CORRECT ANSWER- unfair trade pratice, not peaceful
works comp insurance schedule of benefits applies to - CORRECT ANSWER- permanent partial
disability
under basic dwelling form when damage is caused by VMM, is included as a covered? -
CORRECT ANSWER- VMM can be added; original covered = fire lightening internal explosion
Redlining - CORRECT ANSWER- a practice in which banks refuse to make loans to people living in
certain geographic locations
coverage c - dwelling covers who's personal property - CORRECT ANSWER- guest
following conditions under building and personal property coverage form determines how loses
will be pd - CORRECT ANSWER- valuation loss
DP homeowners exclusions
WEPIN (G) NOW - CORRECT ANSWER- water, earthquake, power failure, intentional loss, neglect
(goverment), nuclear, ordinance or law, war
falsley testifies in an investigation/examination - CORRECT ANSWER- misdemeanor
what is the limit of watercraft liability in the homeowners broad form - CORRECT ANSWER-
$1500 including trailers
pwer to administer the insurance laws of the state designed to protect - CORRECT ANSWER- the
public
