Property and
casualty insurance
Exam 2023
A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but
only if the customer purchases a life insurance policy from the bank in the amount of the
loan. This is an example of a tied selling practice
A builder's risk form is most often written as which of the following? A builder’s risk coverage
A building is insured, but no one has lived or worked in it for 10 years. The building is
completely empty of any furniture or personal belongings. From an insurance standpoint,
the building is considered a vacant building
A business using its own trucks to move its own cargo would insure the cargo using -a motor
truck cargo policy
A commercial package policy (CPP) allows the insured to select the coverage needed and
customize the policy to meet the needs of the insured's business. In a CPP, the business
owner may select from which of the following types of coverage General liability coverage
A commercial property special form covers property in transit up to $5000
A common exclusion found under physical damage to your auto includes mechanical
breakdown
, A meteorite hits the insured's car, causing damage. Under which coverage in a personal
auto policy would this loss be paid? comprehensive coverage
A mortgage company is named as a loss payee on the insured's homeowners policy, under
the standard mortgage clause. If the insured suffers a loss due to a fire, which of the
following is true? The insurance company will pay the mortgage company for the loss , even
though the mortgage com
pany is not the owner of the property
casualty insurance
Exam 2023
A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but
only if the customer purchases a life insurance policy from the bank in the amount of the
loan. This is an example of a tied selling practice
A builder's risk form is most often written as which of the following? A builder’s risk coverage
A building is insured, but no one has lived or worked in it for 10 years. The building is
completely empty of any furniture or personal belongings. From an insurance standpoint,
the building is considered a vacant building
A business using its own trucks to move its own cargo would insure the cargo using -a motor
truck cargo policy
A commercial package policy (CPP) allows the insured to select the coverage needed and
customize the policy to meet the needs of the insured's business. In a CPP, the business
owner may select from which of the following types of coverage General liability coverage
A commercial property special form covers property in transit up to $5000
A common exclusion found under physical damage to your auto includes mechanical
breakdown
, A meteorite hits the insured's car, causing damage. Under which coverage in a personal
auto policy would this loss be paid? comprehensive coverage
A mortgage company is named as a loss payee on the insured's homeowners policy, under
the standard mortgage clause. If the insured suffers a loss due to a fire, which of the
following is true? The insurance company will pay the mortgage company for the loss , even
though the mortgage com
pany is not the owner of the property
