Texas Property and Casualty (2026) comprehensive questions and
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verified detailed solutions (MULTIPLE CHOICES) complete solutions
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A+ GRADED 100% CORRECT!!
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all of the following are basic parts of an insurance contract EXCEPT
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a) declarations
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b) conditions
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c) exclusions
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d) binders - ✔✔Binders
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which of the following terms is used to describe an empty building that is not being used? -
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✔✔Vacant
An insurance company takes possession of a damaged auto it has covered. when the
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company becomes the legal owner of the auto, it is exercising the right of? - ✔✔Salvage
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all of the following are property coverage forms EXCEPT?
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a) special
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b)basic
c)broad
d)base - ✔✔base || ||
which of the following legal principles allows insurance companies to collect from a
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negligent third party damages it paid to an insured? - ✔✔Subrogation
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, transferring is a method of handling risk. which of the following best describes the concept
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of transfer? - ✔✔purchasing insurance
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the insured has a named peril policy that covers hail, fire, wind, and lightning. which one of
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the following events would be covered? - ✔✔A roof that is damaged in an electrical storm
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(TRIPRA) the federal govt's share of compensation that exceeds the insurer's TRIPRA
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deductible is - ✔✔80% || || ||
why do ins. policies usually define who is considered an insured under the policy? - ✔✔to
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specify who is covered in addition to the named insured
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the federal govt. is not obligated under the TRIA to make payments for any portion of losses
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that exceed how much annually? - ✔✔$100 BILLION
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in the insurance business, the insurance comp. is also known as the? - ✔✔principle
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an insurance company that sells insurance only to people who meet specific membership
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requirements is known as what kind of ins. comp? - ✔✔Fraternal || || || || || || || || || ||
what is the actual cause of a loss? - ✔✔peril
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the purpose of insurance is to - ✔✔Transfer risk
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a warranty is a statement made by the applicant regarding the risk to be insured. which of
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the following statements is NOT true about warranties? - ✔✔A warranty must be refer to a
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material fact ||
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verified detailed solutions (MULTIPLE CHOICES) complete solutions
|| || || || || ||
A+ GRADED 100% CORRECT!!
|| || || ||
all of the following are basic parts of an insurance contract EXCEPT
|| || || || || || || || || || ||
a) declarations
|| ||
b) conditions
|| ||
c) exclusions
||
d) binders - ✔✔Binders
|| || ||
which of the following terms is used to describe an empty building that is not being used? -
|| || || || || || || || || || || || || || || || || ||
✔✔Vacant
An insurance company takes possession of a damaged auto it has covered. when the
|| || || || || || || || || || || || || ||
company becomes the legal owner of the auto, it is exercising the right of? - ✔✔Salvage
|| || || || || || || || || || || || || || ||
all of the following are property coverage forms EXCEPT?
|| || || || || || || ||
a) special
||
b)basic
c)broad
d)base - ✔✔base || ||
which of the following legal principles allows insurance companies to collect from a
|| || || || || || || || || || || || ||
negligent third party damages it paid to an insured? - ✔✔Subrogation
|| || || || || || || || || ||
, transferring is a method of handling risk. which of the following best describes the concept
|| || || || || || || || || || || || || || ||
of transfer? - ✔✔purchasing insurance
|| || || ||
the insured has a named peril policy that covers hail, fire, wind, and lightning. which one of
|| || || || || || || || || || || || || || || ||
the following events would be covered? - ✔✔A roof that is damaged in an electrical storm
|| || || || || || || || || || || || || || || ||
(TRIPRA) the federal govt's share of compensation that exceeds the insurer's TRIPRA
|| || || || || || || || || || || ||
deductible is - ✔✔80% || || ||
why do ins. policies usually define who is considered an insured under the policy? - ✔✔to
|| || || || || || || || || || || || || || || ||
specify who is covered in addition to the named insured
|| || || || || || || || ||
the federal govt. is not obligated under the TRIA to make payments for any portion of losses
|| || || || || || || || || || || || || || || ||
that exceed how much annually? - ✔✔$100 BILLION
|| || || || || || || ||
in the insurance business, the insurance comp. is also known as the? - ✔✔principle
|| || || || || || || || || || || || ||
an insurance company that sells insurance only to people who meet specific membership
|| || || || || || || || || || || || ||
requirements is known as what kind of ins. comp? - ✔✔Fraternal || || || || || || || || || ||
what is the actual cause of a loss? - ✔✔peril
|| || || || || || || || ||
the purpose of insurance is to - ✔✔Transfer risk
|| || || || || || || ||
a warranty is a statement made by the applicant regarding the risk to be insured. which of
|| || || || || || || || || || || || || || || || ||
the following statements is NOT true about warranties? - ✔✔A warranty must be refer to a
|| || || || || || || || || || || || || || || ||
material fact ||
