Property and Casualty Insurance

PROPERTY AND CASUALTY INSURANCE EXAM STUDY GUIDE

1 Copyright ©2025 THESTAR ALL RIGHTS RESERVED If an HO-3 policy has a coverage limit of $100,000 on the dwelling, how much coverage would automatically apply to cover the insured's personal property under Coverage C? A. $20,000 B. $25,000 C. $50,000 D. $100,000 - ANS C. $50,000 The limit of liability for personal property is 50% of the limit of liability for Coverage A Which of the following insurance principles permits a policyholder to be reimbursed for losses experienced? A. Sub...

Causes of loss are the perils of the policy - ANS example: fire, lighting, and exposions Property Insurance are written on a - ANS Basic form, Broad form, and Special form Basic form - ANS Most limited Special form - ANS the most comprehensive Specified policies or named perils - ANS type of policy that specifically lists the perils insured against the policy If the cause of loss is excluded - ANS no coverage applies lightning - ANS naturally generated electricity fire - ANS combustion s...

PROPERTY AND CASUALTY INSURANCE EXAM QUESTIONS AND ANSWERS PART 1

An organization that writes liability insurance to cover the liability exposure for the mining engineers that belong to its associations is: - ANS A Risk Retention Group Which of the following parties may assign a standard property policy? - ANS The insurer with prior written permission of the insurer The Difference in Conditions Policy is a special form used to fill in gaps of a property policy. Which of the following is true regarding this policy? - ANS It is generally written on an open ...

Elements for a contract: - ANS 1) Agreement - offer and acceptance 2) Consideration 3) Competent parties 4) Legal purpose Payment for medical expenses, loss of wages, funeral expenses, or the cost to repair or replace damaged property are known as what type of compensatory damages? - ANS Special Which method of loss valuation is contrary to the basic concept of indemnity? - ANS Replacement cost An insured owns several buildings, each at a different location and insured on a separate poli...

Property and Casualty Insurance Exam with 280 Practice Questions and Answers/ P & C License Test 2025 Prep Qs and As/ P and C Insurance General Qs

PROPERTY AND CASUALTY INSURANCE EXAM QUESTIONS AND ANSWERS

Property and Casualty Insurance Tested Exam Questions and Answers with Explanations

tutor-curated study guide that’s focused on the 2025–2026 test outline. It’s not one of those overwhelming giant review books — it’s more streamlined, exam-style, and straight to the point.Get it now My guides are fresh, relevant, and put together by a pro tutor—so you know you’re not just studying, you’re studying smart. Direction matters just as much as effort. Get it now Q1: What is the definition of insurance? A: A contract transferring the risk of loss from an individual...