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Texas Property and Casualty Insurance 2026/2027||
Questions And Correct Detailed Answers ||Verified
Exam!!! (Verified Answers) |Already Graded
A+||Newest Exam!!!
A business owners policy is called a package policy
because it insures property and _____. - ANSWER-
negligence
Which of the following requires a person to prove that
automobile liability insurance is in effect and is usually tied
to vehicle registration? - ANSWER-Financial responsibility
law
The business auto policy (BAP) uses symbols to denote
the vehicles to which each of the policy's coverage
applies. _____ allows coverage of all vehicles: owned,
non-owned, and hired. - ANSWER-Symbol 1
_____ are considered special damages. - ANSWER-
Medical expenses
Business personal property must be within ____ feet of
the premises to be covered on a commercial property
policy. - ANSWER-100
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Which of the following is inland marine insurance? -
ANSWER-Commercial property floaters
The FAIR Plan was brought into being to cover dwellings
for minimum amounts that companies would not accept,
and to spread the business ____ among all companies. -
ANSWER-equitably
A business owners policy (BOP) can stand by itself as a
____? - ANSWER-commercial package policy
If you own and drive a car, you have ____. - ANSWER-
exposure
The owner of an old building buys insurance to protect
himself from a possible lawsuit. This is an example of risk
____. - ANSWER-transfer
The only newspaper in Clarksville was severely damaged
by a tornado. The paper must be printed for several weeks
at another printing facility in a distant town. Under which
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insurance coverage would that loss be covered? -
ANSWER-Extra expense
Under the homeowners policy, in order to receive
replacement cost on a partial loss, the amount of
insurance carried must be at least ____ of replacement
cost. - ANSWER-80%
The deductible in an umbrella policy is referred to as
_____. - ANSWER-self-insured retention
An insurance policy covers fire, will not cover nuclear
contamination, and loss must be reported as soon as
possible. In this order, where are these facts found in the
policy? - ANSWER-Insuring agreement, exclusions, and
proof of loss
The ____ section includes the insurance company's
promise to pay the claim. - ANSWER-insuring agreement
Ralph owns an antique pen and pencil set that is insured
under a personal articles floater. The value of the set is
$30,000. After the loss of the pen, the pencil is valued at
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$20,000. The insurance company will pay the maximum
amount of ____. - ANSWER-$10,000
The 3 parties to a surety bond are the principal, the surety
and the ____. - ANSWER-obligee
The ordinance and law coverage provides an additional
amount of insurance for the increased costs of repair due
to ____. - ANSWER-zoning laws
An individual who owns and lives in a condominium can
obtain broad coverage for personal property in the condo
under the ____. - ANSWER-HO6
An insured has an $80,000 dwelling policy with a $500
deductible. In addition to the house, the property includes
a detached garage, storage shed, and an artist's studio.
During a thunderstorm, the garage and storage shed are
damaged by lightning. The loss is $3,000 to the garage
and $1,000 to the shed. What amount is covered by the
policy? - ANSWER-$3500
Wilson owns a 4-family apartment building. Which dwelling
form(s) would provide coverage against building damage
caused by the freezing of plumbing, heating, air
Texas Property and Casualty Insurance 2026/2027||
Questions And Correct Detailed Answers ||Verified
Exam!!! (Verified Answers) |Already Graded
A+||Newest Exam!!!
A business owners policy is called a package policy
because it insures property and _____. - ANSWER-
negligence
Which of the following requires a person to prove that
automobile liability insurance is in effect and is usually tied
to vehicle registration? - ANSWER-Financial responsibility
law
The business auto policy (BAP) uses symbols to denote
the vehicles to which each of the policy's coverage
applies. _____ allows coverage of all vehicles: owned,
non-owned, and hired. - ANSWER-Symbol 1
_____ are considered special damages. - ANSWER-
Medical expenses
Business personal property must be within ____ feet of
the premises to be covered on a commercial property
policy. - ANSWER-100
,2|Page
Which of the following is inland marine insurance? -
ANSWER-Commercial property floaters
The FAIR Plan was brought into being to cover dwellings
for minimum amounts that companies would not accept,
and to spread the business ____ among all companies. -
ANSWER-equitably
A business owners policy (BOP) can stand by itself as a
____? - ANSWER-commercial package policy
If you own and drive a car, you have ____. - ANSWER-
exposure
The owner of an old building buys insurance to protect
himself from a possible lawsuit. This is an example of risk
____. - ANSWER-transfer
The only newspaper in Clarksville was severely damaged
by a tornado. The paper must be printed for several weeks
at another printing facility in a distant town. Under which
,3|Page
insurance coverage would that loss be covered? -
ANSWER-Extra expense
Under the homeowners policy, in order to receive
replacement cost on a partial loss, the amount of
insurance carried must be at least ____ of replacement
cost. - ANSWER-80%
The deductible in an umbrella policy is referred to as
_____. - ANSWER-self-insured retention
An insurance policy covers fire, will not cover nuclear
contamination, and loss must be reported as soon as
possible. In this order, where are these facts found in the
policy? - ANSWER-Insuring agreement, exclusions, and
proof of loss
The ____ section includes the insurance company's
promise to pay the claim. - ANSWER-insuring agreement
Ralph owns an antique pen and pencil set that is insured
under a personal articles floater. The value of the set is
$30,000. After the loss of the pen, the pencil is valued at
, 4|Page
$20,000. The insurance company will pay the maximum
amount of ____. - ANSWER-$10,000
The 3 parties to a surety bond are the principal, the surety
and the ____. - ANSWER-obligee
The ordinance and law coverage provides an additional
amount of insurance for the increased costs of repair due
to ____. - ANSWER-zoning laws
An individual who owns and lives in a condominium can
obtain broad coverage for personal property in the condo
under the ____. - ANSWER-HO6
An insured has an $80,000 dwelling policy with a $500
deductible. In addition to the house, the property includes
a detached garage, storage shed, and an artist's studio.
During a thunderstorm, the garage and storage shed are
damaged by lightning. The loss is $3,000 to the garage
and $1,000 to the shed. What amount is covered by the
policy? - ANSWER-$3500
Wilson owns a 4-family apartment building. Which dwelling
form(s) would provide coverage against building damage
caused by the freezing of plumbing, heating, air
