Property and Casualty Insurance
Licensing Exam
To prevent recovery beyond the amount of the insured's actual loss, the policy will contain:
An Other Insurance Clause
Collision coverage of an auto policy covers:
a) road damage to the tires
b) upset of the vehicle
c) frozen engine block
d) falling objects
B) upset of the vehicle
The maximum amount of payable for all losses resulting from one event is known as the:
a) occurrence limit
b) aggregate limit
a) occurrence limit
Which of the following is a cause of loss form?
a) declarations form
b) proof of loss form
c) garage keepers' form
d) basic form
d) Basic form
The minimum flood deductible is:
a) $100
b) $250
c) $500
d) $1000
c) $500
The insured intentionally did not inform the insurer that the insured owned only 35% of the
property. The insurer can void the policy for:
a) conditional coverage
b) misrepresentation
c) error
d) concealment
d) concealment
, Which of the following is NOT a defense against negligence?
a) contributory negligence
b) statues of limitations
c) presumption of negligence
d) assumption of risk
c) presumption of negligence
The presumed authority necessary to carry out the producer's routine tasks is known as:
a) expressed authority
b) implied authority
b) implied authority
Which of the following statements regarding the Towing and Labor endorsement is false?
a) it will pay to the limit stated in the endorsement each time a covered vehicle is disabled
b) there is no coverage for roadside labor costs
c) there is no deductible
d) none of the above
b) there is no coverage for roadside labor costs
A licensee may violate federal law and be subject to a fine and prison for doing which of the
following?
a) selling insurance w/ a nonresident license
b) sending threatening letters to the state insurance regulator
c) fraudulently telling an insured a claim isn't covered on the policy
d) murdering an applicant
b) sending threatening letters to the state insurance regulator
Which of the following is not an insured location for liability coverage under the homeowners
policy?
a) a restaurant party room the insured has rented for a business meeting
b) the insured's cemetery plot
c) a restaurant party room the insured has rented for a birthday party
d) vacant land owned by the insured
a) a restaurant party room the insured has rented for a business meeting
Special covers each of the following EXCEPT:
a) theft
b) mysterious disappearance
c) Acts of God
d) floods and earthquakes
d) floods and earthquakes
Licensing Exam
To prevent recovery beyond the amount of the insured's actual loss, the policy will contain:
An Other Insurance Clause
Collision coverage of an auto policy covers:
a) road damage to the tires
b) upset of the vehicle
c) frozen engine block
d) falling objects
B) upset of the vehicle
The maximum amount of payable for all losses resulting from one event is known as the:
a) occurrence limit
b) aggregate limit
a) occurrence limit
Which of the following is a cause of loss form?
a) declarations form
b) proof of loss form
c) garage keepers' form
d) basic form
d) Basic form
The minimum flood deductible is:
a) $100
b) $250
c) $500
d) $1000
c) $500
The insured intentionally did not inform the insurer that the insured owned only 35% of the
property. The insurer can void the policy for:
a) conditional coverage
b) misrepresentation
c) error
d) concealment
d) concealment
, Which of the following is NOT a defense against negligence?
a) contributory negligence
b) statues of limitations
c) presumption of negligence
d) assumption of risk
c) presumption of negligence
The presumed authority necessary to carry out the producer's routine tasks is known as:
a) expressed authority
b) implied authority
b) implied authority
Which of the following statements regarding the Towing and Labor endorsement is false?
a) it will pay to the limit stated in the endorsement each time a covered vehicle is disabled
b) there is no coverage for roadside labor costs
c) there is no deductible
d) none of the above
b) there is no coverage for roadside labor costs
A licensee may violate federal law and be subject to a fine and prison for doing which of the
following?
a) selling insurance w/ a nonresident license
b) sending threatening letters to the state insurance regulator
c) fraudulently telling an insured a claim isn't covered on the policy
d) murdering an applicant
b) sending threatening letters to the state insurance regulator
Which of the following is not an insured location for liability coverage under the homeowners
policy?
a) a restaurant party room the insured has rented for a business meeting
b) the insured's cemetery plot
c) a restaurant party room the insured has rented for a birthday party
d) vacant land owned by the insured
a) a restaurant party room the insured has rented for a business meeting
Special covers each of the following EXCEPT:
a) theft
b) mysterious disappearance
c) Acts of God
d) floods and earthquakes
d) floods and earthquakes
