PA Property & Casualty License Practice Exam |
Study Guide Questions with Verified Answers |
2026 | 2027 (Rated A) Latest Update.
Save
Terms in this set (173)
An exclusion that states that an an Earth movement exclusion
insurer will not pay any claim in
which an individuals property is
damaged as a result of an
earthquake, mudslide, landslide, or
sinkhole.
An exclusion that states that an Neglect exclusion
insurer will not pay any claim in
which an individuals property is
damaged as a result of the fact that
the individual did not maintain the
property.
Which Home Owner's form covers HO-6 Unit Owner's Form
damage to a condo owner's
PROPERTY that occurs as the result
of any event that is not specifically
excluded in the policy.
,Which Home Owner's form covers HO-4 Content's Broad Form
damage to a TENANT'S property
that occurs as a result of an aircraft,
civil commotion, explosion, fire,
nail, lightning, smoke, theft,
vandalism, vehicles and/or wind.
Which HO form covers damage to HO-3 Special Form
the DWELLING that occurs as the
result of any event that is not
specifically excluded in the policy
and damage to the property inside
the dwelling that results of an
aircraft, civil commotion, explosion,
fire, hail, lightning, smoke, theft,
vandalism, vehicles, and/or wind.
Which HO Form covers damage to HO - 5 Comprehensive Form
the DWELLING & PROPERTY inside
the dwelling that occurs as an result
of any event that is not specifically
excluded in the policy.
What means conducting business in Compliance
accordance with current rules and
laws set by government regulatory
agencies and the courts.
Standards of conduct and moral Ethics
judgement.
Legal term that describes the Agency
relationship between parties.
What is the term to describe how Agency Contract
an insurer appoints an individual to
act on its behalf.
, An individual whose position and Fiduciary
responsibilities involve a high
degree of trust and confidence
(trustees, guardians, and executors).
The name for the fact a producer Needs Selling
must sell the kind of policies that
best fit the prospects needs and in
amounts that the prospects can
afford.
What is given when the applicant Conditional Receipt
pays the initial premium at the time
the application for a policy is
signed.
What is the term for informing the Full Disclosure
prospect or client of all facts
involving a specific policy or plan
so that an informed decision can be
made.
What is the name for the watchdog Insurance Standards Association (IMSA)
group whose member companies
agree to adhere to and enforce
ethical principles.
What Act deals with the Unfair Trade Practices Act
inappropriate use of advertising.
Study Guide Questions with Verified Answers |
2026 | 2027 (Rated A) Latest Update.
Save
Terms in this set (173)
An exclusion that states that an an Earth movement exclusion
insurer will not pay any claim in
which an individuals property is
damaged as a result of an
earthquake, mudslide, landslide, or
sinkhole.
An exclusion that states that an Neglect exclusion
insurer will not pay any claim in
which an individuals property is
damaged as a result of the fact that
the individual did not maintain the
property.
Which Home Owner's form covers HO-6 Unit Owner's Form
damage to a condo owner's
PROPERTY that occurs as the result
of any event that is not specifically
excluded in the policy.
,Which Home Owner's form covers HO-4 Content's Broad Form
damage to a TENANT'S property
that occurs as a result of an aircraft,
civil commotion, explosion, fire,
nail, lightning, smoke, theft,
vandalism, vehicles and/or wind.
Which HO form covers damage to HO-3 Special Form
the DWELLING that occurs as the
result of any event that is not
specifically excluded in the policy
and damage to the property inside
the dwelling that results of an
aircraft, civil commotion, explosion,
fire, hail, lightning, smoke, theft,
vandalism, vehicles, and/or wind.
Which HO Form covers damage to HO - 5 Comprehensive Form
the DWELLING & PROPERTY inside
the dwelling that occurs as an result
of any event that is not specifically
excluded in the policy.
What means conducting business in Compliance
accordance with current rules and
laws set by government regulatory
agencies and the courts.
Standards of conduct and moral Ethics
judgement.
Legal term that describes the Agency
relationship between parties.
What is the term to describe how Agency Contract
an insurer appoints an individual to
act on its behalf.
, An individual whose position and Fiduciary
responsibilities involve a high
degree of trust and confidence
(trustees, guardians, and executors).
The name for the fact a producer Needs Selling
must sell the kind of policies that
best fit the prospects needs and in
amounts that the prospects can
afford.
What is given when the applicant Conditional Receipt
pays the initial premium at the time
the application for a policy is
signed.
What is the term for informing the Full Disclosure
prospect or client of all facts
involving a specific policy or plan
so that an informed decision can be
made.
What is the name for the watchdog Insurance Standards Association (IMSA)
group whose member companies
agree to adhere to and enforce
ethical principles.
What Act deals with the Unfair Trade Practices Act
inappropriate use of advertising.
