property and casualty exam (150 questions With
Verified answers)
The Commercial Property policy applies a limit of what dollar amount for business personal
property temporarily away from the premises? - ANSW $10,000
What is the name of the organization created to provide auto insurance to individuals who have
been unable to obtain it through the private market? - ANSW The Connecticut Automobile
Insurance Assigned Risk Plan
Which term describes the situation when two policies covering the same property contain
different policy periods? - ANSW Nonconcurrency
Which of the following is true about an aggregate limit? - ANSW It applies to losses from all
occurrences within a specified policy period
Which of the following is not true about medical payments under the Personal Auto Policy? -
ANSW Coverage applies only for medical expenses incurred within one year of the accident
Section II of the Garage Coverage Form does not cover: - ANSW Damage to the customer's car
in the insured's care
Policyholder J has a no-fault auto policy. Upon being hit by a driver that ran a stop light, J suffers
a broken leg. Whose insurance company will pay for J's injury? - ANSW J's insurer
Which of the following is correct about aircraft liability insurance? - ANSW A passenger may be
covered by a sublimit
All the following terms describe a loss covered by a commercial crime policy, except: - ANSW
Mysterious disappearance
, Which of the following losses would not be covered under a NFIP policy? - ANSW A water
main in the street breaks, flooding the insured's basement
The BOP policy provides the same liability coverage as which of the following policies? -
ANSW Commercial General Liability
Which of the following best describes the Debris Removal coverage under the Homeowners
policy? - ANSW The policy will pay the insured for removing debris from a covered loss
B is traveling to Europe for a month's vacation. Which of the following coverages might her
agent recommend to cover personal items? - ANSW Personal effects floater
Which statement is false regarding uninsured motorist coverage under a Personal Auto Policy? -
ANSW Coverage includes injuries suffered by someone using a covered vehicle without
permission
Which of the following is not true of the supplemental extended reporting period under the
Claims-Made Form of the CGL? - ANSW The insurer may void it after the premium has been
paid by the insured
Which of the following is true of Employers Liability insurance? - ANSW It covers actions
brought against the insured in a capacity other than as an employer
Which of the following may be insured on a replacement cost basis under the National Flood
Insurance Program? - ANSW 1- to 4-family residences and residential condominiums
The Commissioner may revoke, suspend, or refuse to renew a license for all the following,
except: - ANSW Issued insufficient coverage to a customer through apparent authority
The Miscellaneous Type Vehicle Endorsement attached to a Personal Auto Policy allows
eligibility of a motorcycle by: - ANSW Amending the definition of 'your covered auto' and
'newly acquired auto' to include any miscellaneous type vehicle
Verified answers)
The Commercial Property policy applies a limit of what dollar amount for business personal
property temporarily away from the premises? - ANSW $10,000
What is the name of the organization created to provide auto insurance to individuals who have
been unable to obtain it through the private market? - ANSW The Connecticut Automobile
Insurance Assigned Risk Plan
Which term describes the situation when two policies covering the same property contain
different policy periods? - ANSW Nonconcurrency
Which of the following is true about an aggregate limit? - ANSW It applies to losses from all
occurrences within a specified policy period
Which of the following is not true about medical payments under the Personal Auto Policy? -
ANSW Coverage applies only for medical expenses incurred within one year of the accident
Section II of the Garage Coverage Form does not cover: - ANSW Damage to the customer's car
in the insured's care
Policyholder J has a no-fault auto policy. Upon being hit by a driver that ran a stop light, J suffers
a broken leg. Whose insurance company will pay for J's injury? - ANSW J's insurer
Which of the following is correct about aircraft liability insurance? - ANSW A passenger may be
covered by a sublimit
All the following terms describe a loss covered by a commercial crime policy, except: - ANSW
Mysterious disappearance
, Which of the following losses would not be covered under a NFIP policy? - ANSW A water
main in the street breaks, flooding the insured's basement
The BOP policy provides the same liability coverage as which of the following policies? -
ANSW Commercial General Liability
Which of the following best describes the Debris Removal coverage under the Homeowners
policy? - ANSW The policy will pay the insured for removing debris from a covered loss
B is traveling to Europe for a month's vacation. Which of the following coverages might her
agent recommend to cover personal items? - ANSW Personal effects floater
Which statement is false regarding uninsured motorist coverage under a Personal Auto Policy? -
ANSW Coverage includes injuries suffered by someone using a covered vehicle without
permission
Which of the following is not true of the supplemental extended reporting period under the
Claims-Made Form of the CGL? - ANSW The insurer may void it after the premium has been
paid by the insured
Which of the following is true of Employers Liability insurance? - ANSW It covers actions
brought against the insured in a capacity other than as an employer
Which of the following may be insured on a replacement cost basis under the National Flood
Insurance Program? - ANSW 1- to 4-family residences and residential condominiums
The Commissioner may revoke, suspend, or refuse to renew a license for all the following,
except: - ANSW Issued insufficient coverage to a customer through apparent authority
The Miscellaneous Type Vehicle Endorsement attached to a Personal Auto Policy allows
eligibility of a motorcycle by: - ANSW Amending the definition of 'your covered auto' and
'newly acquired auto' to include any miscellaneous type vehicle
