XCEL SOLUTIONS PROPERTY & CASUALTY EXAM
QUESTIONS WITH COMPLETE 100% VERIFIED
SOLUTIONS GRADED A+
An earned premium resulting from the cancellation of a policy is calculated on:
On a pro rata basis, based on the previous year's rate
M owns a parking garage & has coverage that states: "We will cover losses
regardless if you are legally liable for the loss." This no-fault ideology will be
found under:
Excess Direct Coverage
An insurance company writing business in a state other than the one in which it
is domiciled is called:
a Foreign
Y is running a home daycare out of their home & has just earned $50,000 in her
first year of business. Under an HO policy, Y's daycare is defined as:
Not a business
Underwriting guards against
Adverse Selection
A licensee whose name or address changes must notify the Dept of Insurance
within _____ days:
,30 Days
Assumption of risk:
States that a party will not collect damages because they should have known what they
were doing was risky
Under a DP-2 Broad form, which of the following is not a Broad peril?
Vandalism
Which of the following incidents would not be excluded under a DP-3 policy?
Burglary of a property that was vacant for 30 consecutive days
Which of the following are losses excluded under Coverage F?
An individual who is eligible to receive disability insurance
Which of the following will not provide a premium discount from standard market
workers comp insurance?
Assigned Risk Plan
The face amount of a Surety bond is called the:
Penalty
M has opened up his business, Tractors & Semis Sales, LLC. His stock will be
covered while it is being transported, if he:
Adds the equipment dealers floater
All of the following are correct about the Commercial Endorsement regarding
Spoilage EXCEPT:
Coverage extends to stock off premises
What is a certificate of authority?
The license required for an insurer to conduct business in the state
, A licensed producer who lives in another state & transacts insurance in AZ is
called:
A Non-Resident Producer
Any of the following may be an unfair claims settlement practice EXCEPT:
Refusing to pay persons bringing false or fraudulent claims
What is the best description of an applicant to the AZ auto insurance plan?
An applicant in good-faith entitled to coverage but unable to obtain coverage through
ordinary methods
Which statement regarding the identification of the producer rule is false?
A policy is invalidated if the producer is not identified as required by law
If an insured's dog bites a guest that results in a settlement amount of $150,000
plus attorney fees of $70,000. How much is the insured personally responsible to
pay if their homeowners policy Coverage E amount was $100,000?
$50,000
J has a policy that pays a maximum single dollar amount for property damage &
death or bodily injury. Which Limit of Liability does J's policy have?
Combined Single Limit
E is a professional musician who owns a vintage guitar with a current value of
$20,000. E should properly insure this guitar with a(n):
Personal Articles Floater
For policyholders in the same risk classification, it is unlawful to:
Charge different premiums
All of the following are main elements of a commercial package policy, EXCEPT:
QUESTIONS WITH COMPLETE 100% VERIFIED
SOLUTIONS GRADED A+
An earned premium resulting from the cancellation of a policy is calculated on:
On a pro rata basis, based on the previous year's rate
M owns a parking garage & has coverage that states: "We will cover losses
regardless if you are legally liable for the loss." This no-fault ideology will be
found under:
Excess Direct Coverage
An insurance company writing business in a state other than the one in which it
is domiciled is called:
a Foreign
Y is running a home daycare out of their home & has just earned $50,000 in her
first year of business. Under an HO policy, Y's daycare is defined as:
Not a business
Underwriting guards against
Adverse Selection
A licensee whose name or address changes must notify the Dept of Insurance
within _____ days:
,30 Days
Assumption of risk:
States that a party will not collect damages because they should have known what they
were doing was risky
Under a DP-2 Broad form, which of the following is not a Broad peril?
Vandalism
Which of the following incidents would not be excluded under a DP-3 policy?
Burglary of a property that was vacant for 30 consecutive days
Which of the following are losses excluded under Coverage F?
An individual who is eligible to receive disability insurance
Which of the following will not provide a premium discount from standard market
workers comp insurance?
Assigned Risk Plan
The face amount of a Surety bond is called the:
Penalty
M has opened up his business, Tractors & Semis Sales, LLC. His stock will be
covered while it is being transported, if he:
Adds the equipment dealers floater
All of the following are correct about the Commercial Endorsement regarding
Spoilage EXCEPT:
Coverage extends to stock off premises
What is a certificate of authority?
The license required for an insurer to conduct business in the state
, A licensed producer who lives in another state & transacts insurance in AZ is
called:
A Non-Resident Producer
Any of the following may be an unfair claims settlement practice EXCEPT:
Refusing to pay persons bringing false or fraudulent claims
What is the best description of an applicant to the AZ auto insurance plan?
An applicant in good-faith entitled to coverage but unable to obtain coverage through
ordinary methods
Which statement regarding the identification of the producer rule is false?
A policy is invalidated if the producer is not identified as required by law
If an insured's dog bites a guest that results in a settlement amount of $150,000
plus attorney fees of $70,000. How much is the insured personally responsible to
pay if their homeowners policy Coverage E amount was $100,000?
$50,000
J has a policy that pays a maximum single dollar amount for property damage &
death or bodily injury. Which Limit of Liability does J's policy have?
Combined Single Limit
E is a professional musician who owns a vintage guitar with a current value of
$20,000. E should properly insure this guitar with a(n):
Personal Articles Floater
For policyholders in the same risk classification, it is unlawful to:
Charge different premiums
All of the following are main elements of a commercial package policy, EXCEPT:
