Cheat Sheet - Property & Casualty Exam || Most
Recent Exam 2026-2027 Actual Complete Real Exam
Questions and Correct Answers (Verified Answers) |
Already Graded A+ | Guaranteed Success!! Newest
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Concealment or fraud __________ coverage? - ANSWER-Voids
coverage
The no benefit to bailee condition - ANSWER-Bailee is not
reimbursed by
insured's commercial property
insurance.
Liberalization condition - ANSWER-States that any revision that
broadens coverage without requiring additional premium will
automatically apply to the coverage part oif the revision is
adopted by the insurer during the policy period. More coverage
without more premium. 45 days of policy's effective date.
Supplementary Payments acronym - ANSWER-BAILED
BAILED - ANSWER-Bonds
Aid (first aid)
Interest
,Loss earnings
Expenses
Defense cost
Commercial General Liability policies provide what three
coverages? -
ANSWER-Coverage A - Bodily injury and property
damage liability
Coverage B - Personal and advertising
injury liability
Coverage C -- Medical
Payments
Building and personal property coverage form - ANSWER-
Covers buildings, the
insured's business person property, and the personal property
of others located
at the business premises. *Building coverage includes
completed additions
(THIS IS ON THE
TEST)*
Cuase of loss forms - ANSWER-List the perils that the
property is insured
, against. there are three separate cause of
loss forms:
Basic
Broad
Special
(open)
What are the three separate cause of loss forms? -
ANSWER-Basic
Broad
Special
(open)
Business income coverage forms - ANSWER-Pay for loss of
income that th
einsured sustains due to a direct physical loss from a peril
insured against that
forces the insured to suspend operatiosn during the preiod
of restoration.
Time element coverage - ANSWER-Provides coverage for the
loss of business
income over a period of
time.
Recent Exam 2026-2027 Actual Complete Real Exam
Questions and Correct Answers (Verified Answers) |
Already Graded A+ | Guaranteed Success!! Newest
Exam | Just Released!!
Concealment or fraud __________ coverage? - ANSWER-Voids
coverage
The no benefit to bailee condition - ANSWER-Bailee is not
reimbursed by
insured's commercial property
insurance.
Liberalization condition - ANSWER-States that any revision that
broadens coverage without requiring additional premium will
automatically apply to the coverage part oif the revision is
adopted by the insurer during the policy period. More coverage
without more premium. 45 days of policy's effective date.
Supplementary Payments acronym - ANSWER-BAILED
BAILED - ANSWER-Bonds
Aid (first aid)
Interest
,Loss earnings
Expenses
Defense cost
Commercial General Liability policies provide what three
coverages? -
ANSWER-Coverage A - Bodily injury and property
damage liability
Coverage B - Personal and advertising
injury liability
Coverage C -- Medical
Payments
Building and personal property coverage form - ANSWER-
Covers buildings, the
insured's business person property, and the personal property
of others located
at the business premises. *Building coverage includes
completed additions
(THIS IS ON THE
TEST)*
Cuase of loss forms - ANSWER-List the perils that the
property is insured
, against. there are three separate cause of
loss forms:
Basic
Broad
Special
(open)
What are the three separate cause of loss forms? -
ANSWER-Basic
Broad
Special
(open)
Business income coverage forms - ANSWER-Pay for loss of
income that th
einsured sustains due to a direct physical loss from a peril
insured against that
forces the insured to suspend operatiosn during the preiod
of restoration.
Time element coverage - ANSWER-Provides coverage for the
loss of business
income over a period of
time.
