Texas Insurance License Exam 2023/2024 with 100% correct answers

What are 3 subjects an auto policy covers? - correct answer 1. Body 2. The vehicle 3. Assets Bodily Injury Types - correct answer Personal Injury Med Pay Uninsured Motorist No Fault Insurance - correct answer State stipulates that parties cannot file a claim to the other persons insurance policy unless required in excess. Instead, each party is required to file a primary claim against their own insurance regardless who is at fault. EX. Florida Financial Responsibility Laws - correct answer State Laws regulating that people are to carry a minimum coverage amount set by the state to protect themselves, others, and property. P.A.P - correct answer Personal Automotive Policy Negligence - correct answer The failure to act as a prudent person would under similar circumstances Legal Liability - correct answer Involves proven negligence or fault Vicarious Liability - correct answer Being responsible for the negligent acts of someone else. Ex. Your children Absolute or Strict Liability - correct answer Stems from hazardous or dangerous activities that makes the owner liable WITHOUT the requirement of proof of negligence.