Texas Property and Casualty 2024 (All possible questions with 100% correct answers)

A policy written through the NFIP will provide coverage for: A Extra expenses B Increased costs to comply with local floodplain management laws C Loss of use D Loss of business income correct answers Increased costs to comply with local floodplain management laws Who is responsible for paying premiums, and will receive any premiums that have to be returned? A An additional insured B Any insured C Any named insured D First named insured correct answers First named insured Generally, most binders will be issued for no longer than: A 60 days B 6 months C 3 months D 10 days correct answers 60 days A certificate of insurance includes which of the following pieces of information? A The effective date, the premium, and the limits of liability B The name of the insurer, the amount and type of insurance, and the perils insured against C The effective date, names of the insurer and named insured, and the limits of liability D The expiration date, the premium, and limits of liability correct answers The effective date, names of the insurer and named insured, and the limits of liability For a claim to be paid, insurable interest for a property or casualty contract must exist at the time of: A Premium payment B Loss C Policy issuance D Policy delivery correct answers Loss Statements in the application that are guaranteed true, but later found to be false at the time of application, may result in which of the following? A Voidance of the contract