GEORGIA PROPERTY & CASUALTY INSURANCE EXAM (LATEST 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM (LATEST 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A Q: Once an injured employee has received benefits provided under workers' compensation, that employee may not file a suit against her employer to gain additional benefits. This is the def. of A. Contributory negligence B. the fellow servant rule C. Assumption of risk D. Exclusive remedy Answer: D. executive remedy Q: The purpose of the basic extended reporting period in a commercial general liability (CGL) " claims-made" policy is to provide A. additional time for the insured to make monthly reports of information for rating purposes B. coverage for events that have happened before the policy became effective C. coverage for events that happened up to 5yrs after a claims-made policy has expired D Coverage for events that have happened after the retroactive date, but which were not within 60days of policy expiration Answer: D. Coverage for events that have happened after the retroactive date, but which were not within 60days of policy expiration Q: What is the purpose of the employer's liability section of a workers' comp plicy ( part 2) ? A. pay for lawsuits filed by an employer B. Pay for benefits that are normally required by state workers' comp laws C. Pa for 3rd-party claims filed against a negligent employer Answer: B. Pay for benefits that are normally required by state workers' comp laws Q: Truckers who transport hazardous materials are required to have an endorsement called A. Form MCS-90 B. Form W-2 C. Form MCS-70 D. Form 1099 Answer: A. Form MCS-90 Q: Which of the following is NOT a use of auto symbols in the commercial auto policy? A. To determine how coverage will apply to vehicles acquired after the policy effective date B. To determine which rating territory applies to the covered autos C. To custom the policy to the insured's needs by selective the appropriate coverage Answer: B. To determine which rating territory applies to the covered autos Q: Coverage for fungi, wet rot, and bacteria on a business-owner policy is limited to A. 12k per policy limit B. 15k per policy limit C. 15k per occurrence D. 25K per policy period Answer: B. 15k per policy limit Q: The insured's property ins policy has a deductible clause. This Means that A. the insured deducts any claim payment recieed from the next ins B. any losses paid a third party are deducted from the policy limit C. The insured must pay a certain amt for each loss incurred under the policy Answer: C. The insured must pay a certain amt for each loss incurred under the policy Q: All of the following are insured contract under the commercial general Liability (CGL) policy EXCEPT A. lease of business equipment B. elevator maintenance agreement C. agreement to indemnify a municipality D railroad sidetrack agreement Answer: A. lease of business equipment Q: Which is a characteristic of the businessowners policy (BOP? A. It is an alternative to a commercial package policy B It may be written monoline only. C It may only be written as part of a commercial package policy. D. It may be written monoline pr part of a commercial package policy. Answer: A. It is an alternative to a commercial package policy Q: Misrepresentation is A. Encouraging policyowners to drop existing Ins for another similar policy B. Information that is not true, but will not void an Ins contract C. offering an inducement for the purchase of Ins.