Texas Property and Casualty Insurance
Policies. (State Test) Questions with 100%
Correct Answers
The businessowners policy liability coverage will pay for necessary medical expenses of others within
what maximum time period?
1 Year
Which of the following covers a carrier for liability for loss to cargo while it is being transported in a
truck?
Moto truck cargo policy- truckers form
In which of the following types of property valuation will the policy pay the full value specified on the
policy schedule, regardless of the insured property's appreciation or depreciation?
Agreed Value
If the actual values exceed the limit of insurance, the buisnessowners policy (BOP) contains a seasonal
increase provision that automatically increases the limit of insurance for business personal property
by
25%
In which type of commercial crime policy coverage is triggered by a loss that happens during the
policy period but is not necessarily discovered during the policy period?
Loss sustained form
Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must
inform the insured within how many days of receiving proof of loss?
30 Days
Under a dwelling policy, which of the following is NOT a factor in determining a loss?
The amount negotiated by the insured
Which professional liability form provides form coverage for liability arising out of malpractice, error,
or mistakes made in rendering professional services?
Physicians, surgeons and dentists malpractice
Which of the following would be covered under the crime coverage inside the premises - theft of
money and securities?
loss or damage to a locked safe, vault, or cash register
What is the purpose of the coinsurance clause found in the property insurance policies?
Encourage the insured to insure the property to its closest value
A property insurance policy that is not subject to any coinsurance requirements but has a set amount
of insurance scheduled for the property would use what valuation method?
Stated amount
Policies. (State Test) Questions with 100%
Correct Answers
The businessowners policy liability coverage will pay for necessary medical expenses of others within
what maximum time period?
1 Year
Which of the following covers a carrier for liability for loss to cargo while it is being transported in a
truck?
Moto truck cargo policy- truckers form
In which of the following types of property valuation will the policy pay the full value specified on the
policy schedule, regardless of the insured property's appreciation or depreciation?
Agreed Value
If the actual values exceed the limit of insurance, the buisnessowners policy (BOP) contains a seasonal
increase provision that automatically increases the limit of insurance for business personal property
by
25%
In which type of commercial crime policy coverage is triggered by a loss that happens during the
policy period but is not necessarily discovered during the policy period?
Loss sustained form
Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must
inform the insured within how many days of receiving proof of loss?
30 Days
Under a dwelling policy, which of the following is NOT a factor in determining a loss?
The amount negotiated by the insured
Which professional liability form provides form coverage for liability arising out of malpractice, error,
or mistakes made in rendering professional services?
Physicians, surgeons and dentists malpractice
Which of the following would be covered under the crime coverage inside the premises - theft of
money and securities?
loss or damage to a locked safe, vault, or cash register
What is the purpose of the coinsurance clause found in the property insurance policies?
Encourage the insured to insure the property to its closest value
A property insurance policy that is not subject to any coinsurance requirements but has a set amount
of insurance scheduled for the property would use what valuation method?
Stated amount
