1|Page
Utah Property & Casualty Insurance Producer Exam
ACTUAL VERIFIED EXAM COMPLETE QUESTIONS
AND CORRECT ANSWERS LATEST UPDATE THIS
YEAR.pdf||NEWEST EXAM!!!
The secretary of the treasury estimates that a recent
terrorist attack caused losses of more than $100 billion.
According to the 2007 reauthorization of the Terrorism
Risk Insurance Program, how many days' notice must the
secretary provide to Congress? a) 15 b) 30 c) 45 d) 60. -
Answer-A
Compared with other drivers in his age group, a driver has
had more minor accidents and traffic violation. Which of
the following rating types would most accurately reflect the
driver's true insurance risk? a) Retrospective b) Special c)
Schedule d) Experience. - Answer-A
An additional loss that results from a direct loss of property
is called a/an a) Liability loss b) Punitive loss c) Indirect
loss d) Proximate loss. - Answer-C
,2|Page
If a producer sold policies at the loss cost rate, the result
would be a) Manual rates b) Low future rates c) Loss to
the insurer d) Rate discrimination. - Answer-C
In property insurance, actual cash value is defined as
which of the following? a) Market value of the property at
the time of the loss b) Stated value of the property as
shown on the declaration c) The actual amount of a loss
payable, less the policy deductible d) Replacement cost at
the time of the loss, less depreciation. - Answer-D
In what year does the 2007 reauthorization of the
Terrorism Risk Insurance Program expire? a) 2008 b)
2010 c) 2014 d) 2015 - Answer-C
To insure coin collections, stamp collections, and other
items that would be difficult to appraise after a loss, it is
best to insure with a) Replacement cost coverage b) ACV
coverage c) Stated amount insurance d) Completed value
form. - Answer-C
Which of the following is a property policy with a provision
agreed upon by the insurer and insured as to the amount
of insurance that represents a fair valuation for the
property at the time the insurance is written and suspends
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any coinsurance or other contribution clauses in the
policy? a) Market value b) Agreed value c) Replacement
cost d) Stated amount. - Answer-B
With regard to fire insurance premiums, structures with
which of the following type of construction would most
likely have the most favorable premium rate for the peril of
fire? a) Masonry b) Noncombustible c) Fire-resistive d)
Frame. - Answer-C
A contractor who builds homes has never made a claim on
his business insurance policy. His agent discovers that his
policy is written on a scheduled rating. If the contractor
changes to an experience rating policy, which is most
likely? a) Premiums would be unchanged b) Coinsurance
would be necessary c) Premiums would go down d)
Premiums would go up. - Answer-C
Property insurance that provides $100,000 coverage for a
building and $50,000 coverage for personal property at a
single location is called a) Blanket coverage b) Described
coverage c) Specific coverage d) Schedule coverage. -
Answer-C
, 4|Page
Using an air-cooled engine, a proposed insured has
developed a new, experimental aircraft. If the inventor
applies for liability insurance, what rating type will the
insurer most likely use? a) Judgment b) Class c) Schedule
d) Merit. - Answer-A
The purpose of Medicare Supplement Insurance is to
address gaps in Medicare coverage, which can include -
Answer-Medicare in-hospital deductible
Which type of multiple protection policy pays on the death
of the last person? - Answer-Survivorship life policy
If threats or force is used to affect an insurance
transaction, the unfair trade practice of ____ has been
committed. - Answer-coercion
The waiting period for a disability insurance policy -
Answer-excludes payments for a short-term illness or
injury
James is the insured on a life insurance policy where his
age was misstated on the application. Which of the
following is CORRECT regarding the death benefit
Utah Property & Casualty Insurance Producer Exam
ACTUAL VERIFIED EXAM COMPLETE QUESTIONS
AND CORRECT ANSWERS LATEST UPDATE THIS
YEAR.pdf||NEWEST EXAM!!!
The secretary of the treasury estimates that a recent
terrorist attack caused losses of more than $100 billion.
According to the 2007 reauthorization of the Terrorism
Risk Insurance Program, how many days' notice must the
secretary provide to Congress? a) 15 b) 30 c) 45 d) 60. -
Answer-A
Compared with other drivers in his age group, a driver has
had more minor accidents and traffic violation. Which of
the following rating types would most accurately reflect the
driver's true insurance risk? a) Retrospective b) Special c)
Schedule d) Experience. - Answer-A
An additional loss that results from a direct loss of property
is called a/an a) Liability loss b) Punitive loss c) Indirect
loss d) Proximate loss. - Answer-C
,2|Page
If a producer sold policies at the loss cost rate, the result
would be a) Manual rates b) Low future rates c) Loss to
the insurer d) Rate discrimination. - Answer-C
In property insurance, actual cash value is defined as
which of the following? a) Market value of the property at
the time of the loss b) Stated value of the property as
shown on the declaration c) The actual amount of a loss
payable, less the policy deductible d) Replacement cost at
the time of the loss, less depreciation. - Answer-D
In what year does the 2007 reauthorization of the
Terrorism Risk Insurance Program expire? a) 2008 b)
2010 c) 2014 d) 2015 - Answer-C
To insure coin collections, stamp collections, and other
items that would be difficult to appraise after a loss, it is
best to insure with a) Replacement cost coverage b) ACV
coverage c) Stated amount insurance d) Completed value
form. - Answer-C
Which of the following is a property policy with a provision
agreed upon by the insurer and insured as to the amount
of insurance that represents a fair valuation for the
property at the time the insurance is written and suspends
,3|Page
any coinsurance or other contribution clauses in the
policy? a) Market value b) Agreed value c) Replacement
cost d) Stated amount. - Answer-B
With regard to fire insurance premiums, structures with
which of the following type of construction would most
likely have the most favorable premium rate for the peril of
fire? a) Masonry b) Noncombustible c) Fire-resistive d)
Frame. - Answer-C
A contractor who builds homes has never made a claim on
his business insurance policy. His agent discovers that his
policy is written on a scheduled rating. If the contractor
changes to an experience rating policy, which is most
likely? a) Premiums would be unchanged b) Coinsurance
would be necessary c) Premiums would go down d)
Premiums would go up. - Answer-C
Property insurance that provides $100,000 coverage for a
building and $50,000 coverage for personal property at a
single location is called a) Blanket coverage b) Described
coverage c) Specific coverage d) Schedule coverage. -
Answer-C
, 4|Page
Using an air-cooled engine, a proposed insured has
developed a new, experimental aircraft. If the inventor
applies for liability insurance, what rating type will the
insurer most likely use? a) Judgment b) Class c) Schedule
d) Merit. - Answer-A
The purpose of Medicare Supplement Insurance is to
address gaps in Medicare coverage, which can include -
Answer-Medicare in-hospital deductible
Which type of multiple protection policy pays on the death
of the last person? - Answer-Survivorship life policy
If threats or force is used to affect an insurance
transaction, the unfair trade practice of ____ has been
committed. - Answer-coercion
The waiting period for a disability insurance policy -
Answer-excludes payments for a short-term illness or
injury
James is the insured on a life insurance policy where his
age was misstated on the application. Which of the
following is CORRECT regarding the death benefit
