Xcel Solutions Property & Casualty
Exam Questions with Correct Answers
J has a policy & wants to know what his rights & duties of the policy will be & what
duties & rights the insurer has. J should read the: - ANSWER-Conditions
Who of the following would be an example of a dram? - ANSWER-Buddy's Dive Bar
& Grill
An insurable interest is measured by: - ANSWER-The amount of damages the
insured might occur
Claims settlement practices of insurers are regulated by: - ANSWER-State Insurance
Departments
B has a property policy & would like to know perils that are covered. B should read
the: - ANSWER-Insuring Clause
Which of the following is NOT an exclusion under Part D, Physical Damage? -
ANSWER-Flood Damage
If a loss occurs as a result of Domestic Violence by one insured against another the
AZ Special Provisions Endorsement: - ANSWER-Allows the insurer to pay the
victimized party & subrogate against the perp
The AZ Auto Insurance Plan may best be described as: - ANSWER-A plan made up
of all auto insurance carriers that provides insurance to individuals who cannot
obtain coverage in the voluntary market
An insurer operating in the US but headquartered outside the US is: - ANSWER-
Alien
Which one is not an AZ Motor Vehicle minimum coverage requirement? - ANSWER-
Coverage may be stacked or accumulated when more than one vehicle is covered
Which of these is not an Unfair Claims Settlement Practice? - ANSWER-Offering to
settle a claim by arbitration
Insurance Producer Kelly offers insured a $500 shopping card if they purchase an
insurance product through her. What is this an example of? - ANSWER-Rebating
No declination of insurance coverage or termination of a binder can be based on the
information from a consumer report after how many days from the application date? -
ANSWER-30 Days
A producer who attempts to intimidate is engaging in: - ANSWER-Coercion
, Which statement is false regarding the AZ property & casualty insurance guaranty
fund? - ANSWER-Assessments are divided into four separate accounts
A producer must report to the Director any admin action taken against her by any
government agency within: - ANSWER-30 Days
Coverage A in a Dwelling Policy provides all of the following coverages, EXCEPT: -
ANSWER-Covers all structures attacked to the dwelling
High Rise/Condo building typically have which construction (according to ISO
guidelines): - ANSWER-Modified/Semi Fire Resistive
What is the best expression of premium determination process for Workers
Compensation (X means multiply by)? - ANSWER-Risk factor of a job classification
X $100 of payroll = Premium
Which of the following statements about NFIP deductibles is TRUE? - ANSWER-
There is a deductible applied to the building and another to the contents under both
the emergency and regular programs
T caused an accident that caused B injuries that forced him to miss a week of work.
The type of damages that B would collect for lost wages are: - ANSWER-Special
Damages
G's band has hit the big time and will be touring the world. The band's manager has
called you to make sure that their equipment is covered as they travel. The coverage
you will place on G's band for this purpose would be: - ANSWER-Commercial
articles floater
Which of the following Homeowners forms is not named perils coverage? -
ANSWER-HO-5
Which of the following homeowner forms pay for loss on a function replacement cost
basis? - ANSWER-HO-8
How are Coverage D and Coverage E paid in both the Broad and Special forms
under the Dwelling Program? - ANSWER-Coverage D & E are paid up to 20% got
both combined, not each separately, of the dwelling coverage amount.
Which of the following losses would be covered under section II of a Business
Owners Policy? - ANSWER-An insured accidentally slams a shopping cart into a
parked car while shopping for business supplies
Which of the following regarding motor carrier insurance is not true? - ANSWER-
Specialized carriers are contracts that will deliver goods when common carriers are
unable to meet their delivery time due to a covered peril.
Exam Questions with Correct Answers
J has a policy & wants to know what his rights & duties of the policy will be & what
duties & rights the insurer has. J should read the: - ANSWER-Conditions
Who of the following would be an example of a dram? - ANSWER-Buddy's Dive Bar
& Grill
An insurable interest is measured by: - ANSWER-The amount of damages the
insured might occur
Claims settlement practices of insurers are regulated by: - ANSWER-State Insurance
Departments
B has a property policy & would like to know perils that are covered. B should read
the: - ANSWER-Insuring Clause
Which of the following is NOT an exclusion under Part D, Physical Damage? -
ANSWER-Flood Damage
If a loss occurs as a result of Domestic Violence by one insured against another the
AZ Special Provisions Endorsement: - ANSWER-Allows the insurer to pay the
victimized party & subrogate against the perp
The AZ Auto Insurance Plan may best be described as: - ANSWER-A plan made up
of all auto insurance carriers that provides insurance to individuals who cannot
obtain coverage in the voluntary market
An insurer operating in the US but headquartered outside the US is: - ANSWER-
Alien
Which one is not an AZ Motor Vehicle minimum coverage requirement? - ANSWER-
Coverage may be stacked or accumulated when more than one vehicle is covered
Which of these is not an Unfair Claims Settlement Practice? - ANSWER-Offering to
settle a claim by arbitration
Insurance Producer Kelly offers insured a $500 shopping card if they purchase an
insurance product through her. What is this an example of? - ANSWER-Rebating
No declination of insurance coverage or termination of a binder can be based on the
information from a consumer report after how many days from the application date? -
ANSWER-30 Days
A producer who attempts to intimidate is engaging in: - ANSWER-Coercion
, Which statement is false regarding the AZ property & casualty insurance guaranty
fund? - ANSWER-Assessments are divided into four separate accounts
A producer must report to the Director any admin action taken against her by any
government agency within: - ANSWER-30 Days
Coverage A in a Dwelling Policy provides all of the following coverages, EXCEPT: -
ANSWER-Covers all structures attacked to the dwelling
High Rise/Condo building typically have which construction (according to ISO
guidelines): - ANSWER-Modified/Semi Fire Resistive
What is the best expression of premium determination process for Workers
Compensation (X means multiply by)? - ANSWER-Risk factor of a job classification
X $100 of payroll = Premium
Which of the following statements about NFIP deductibles is TRUE? - ANSWER-
There is a deductible applied to the building and another to the contents under both
the emergency and regular programs
T caused an accident that caused B injuries that forced him to miss a week of work.
The type of damages that B would collect for lost wages are: - ANSWER-Special
Damages
G's band has hit the big time and will be touring the world. The band's manager has
called you to make sure that their equipment is covered as they travel. The coverage
you will place on G's band for this purpose would be: - ANSWER-Commercial
articles floater
Which of the following Homeowners forms is not named perils coverage? -
ANSWER-HO-5
Which of the following homeowner forms pay for loss on a function replacement cost
basis? - ANSWER-HO-8
How are Coverage D and Coverage E paid in both the Broad and Special forms
under the Dwelling Program? - ANSWER-Coverage D & E are paid up to 20% got
both combined, not each separately, of the dwelling coverage amount.
Which of the following losses would be covered under section II of a Business
Owners Policy? - ANSWER-An insured accidentally slams a shopping cart into a
parked car while shopping for business supplies
Which of the following regarding motor carrier insurance is not true? - ANSWER-
Specialized carriers are contracts that will deliver goods when common carriers are
unable to meet their delivery time due to a covered peril.
