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GA PROPERTY & CASUALTY EXAM
2026 WITH QUESTIONS AND
ANSWERS
Insurance policy covers what type of losses - correct answer-Direct and
Indirect
In order to have an indirect loss, you must have - correct answer-a direct
loss
What does property insurance cover? - correct answer-structures and
contents
Direct loss - correct answer-physical destruction of property by lightening,
wind, fire, theft, etc
Indirect loss - correct answer-consequences of direct losses - e.g. loss of
income, additional expenses to live, loss of rental income, etc.
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What is the purpose of personal lines insurance? - correct answer-
Coverage for personal activities of the insured for losses that might take
place
What is the purpose of commercial insurance? - correct answer-policies
that cover NON personal activities of the insured where losses might take
place
Who transfers risk in insurance? - correct answer-Insurance involves
transfer of YOUR risk to other people for your losses to be covered
How do insurance companies use premiums? - correct answer-Insurance
companies use our premiums to cover losses of the few.
Named Insured - correct answer-HIGHEST ranking insured for any policy
Who is the insurance company? - correct answer-The author of the policy,
issuer of the policy, and enforcer of policy
Cancellation - correct answer-Stop policy mid-term before it has the chance
to expire. Both insurer and insured can cancel a policy
GA PROPERTY & CASUALTY EXAM
2026 WITH QUESTIONS AND
ANSWERS
Insurance policy covers what type of losses - correct answer-Direct and
Indirect
In order to have an indirect loss, you must have - correct answer-a direct
loss
What does property insurance cover? - correct answer-structures and
contents
Direct loss - correct answer-physical destruction of property by lightening,
wind, fire, theft, etc
Indirect loss - correct answer-consequences of direct losses - e.g. loss of
income, additional expenses to live, loss of rental income, etc.
, 2 |Page
What is the purpose of personal lines insurance? - correct answer-
Coverage for personal activities of the insured for losses that might take
place
What is the purpose of commercial insurance? - correct answer-policies
that cover NON personal activities of the insured where losses might take
place
Who transfers risk in insurance? - correct answer-Insurance involves
transfer of YOUR risk to other people for your losses to be covered
How do insurance companies use premiums? - correct answer-Insurance
companies use our premiums to cover losses of the few.
Named Insured - correct answer-HIGHEST ranking insured for any policy
Who is the insurance company? - correct answer-The author of the policy,
issuer of the policy, and enforcer of policy
Cancellation - correct answer-Stop policy mid-term before it has the chance
to expire. Both insurer and insured can cancel a policy
