ExamFx Property and Casualty Exam |
100% Correct Answers | Verified | Latest
2024 Version
To be considered an insurable risk, a loss may NOT be - ✔✔catastrophic
Which of the following persons would be required to hold a producer license? - ✔✔a nonresident agent
who negotiates insurance contracts
Which of the following is the oldest known type of insurance? - ✔✔ocean marine
The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of
golden candlesticks? - ✔✔the difference in the actual cash value as a pair and as a single
Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling
policies? - ✔✔internal explosion
When would a misrepresentation on the insurance application be considered fraud? - ✔✔If it is
intentional and material
A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as
the - ✔✔penalty
In insurance, an offer is usually made when - ✔✔the application is submitted
All of the following actions by a producer may be grounds for license revocation or non-renewal EXCEPT -
✔✔participating in controlled business
In personal auto policies, the term "you" refers to - ✔✔the named insured
, Business personal property coverage form covers all of the following except: - ✔✔automobiles held for
sale
in dwelling policies, automatic increase in insurance is - ✔✔coverage by endorsement
To be eligible for businessowners policy (BOP) coverage, an office building CANNOT be higher than -
✔✔6 stories
Elaborate homes with replacement costs greater than ACV or market value are insured on the - ✔✔HO-8
Form
Which of the following dwelling coverage forms would pay replacement cost for the dwelling? - ✔✔DP-2
and DP-3
Business personal property coverage insures property out in the open if it is - ✔✔Within 100 feet of the
described premises
A runaway shopping cart injures a customer in a supermarket's parking lot. Coverage for this claim would
be provided under - ✔✔premises and operations
Which of the following businesses would be eligible for a businessowners policy? - ✔✔Hill & Morton
Funeral Home
The designation symbols used in commercial auto policies can be found in which policy section? -
✔✔covered auto
Which of the following is used in the formula for calculating the actual cash value (ACV) of a property? -
✔✔replacement cost
What type of bond guarantees that the principal will complete the contract as agreed upon? -
✔✔performance bond
100% Correct Answers | Verified | Latest
2024 Version
To be considered an insurable risk, a loss may NOT be - ✔✔catastrophic
Which of the following persons would be required to hold a producer license? - ✔✔a nonresident agent
who negotiates insurance contracts
Which of the following is the oldest known type of insurance? - ✔✔ocean marine
The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of
golden candlesticks? - ✔✔the difference in the actual cash value as a pair and as a single
Which of the following additional perils is covered under both of the Basic and Broad forms in dwelling
policies? - ✔✔internal explosion
When would a misrepresentation on the insurance application be considered fraud? - ✔✔If it is
intentional and material
A bond is written for a set limit, and the surety will be liable only for this amount. This limit is known as
the - ✔✔penalty
In insurance, an offer is usually made when - ✔✔the application is submitted
All of the following actions by a producer may be grounds for license revocation or non-renewal EXCEPT -
✔✔participating in controlled business
In personal auto policies, the term "you" refers to - ✔✔the named insured
, Business personal property coverage form covers all of the following except: - ✔✔automobiles held for
sale
in dwelling policies, automatic increase in insurance is - ✔✔coverage by endorsement
To be eligible for businessowners policy (BOP) coverage, an office building CANNOT be higher than -
✔✔6 stories
Elaborate homes with replacement costs greater than ACV or market value are insured on the - ✔✔HO-8
Form
Which of the following dwelling coverage forms would pay replacement cost for the dwelling? - ✔✔DP-2
and DP-3
Business personal property coverage insures property out in the open if it is - ✔✔Within 100 feet of the
described premises
A runaway shopping cart injures a customer in a supermarket's parking lot. Coverage for this claim would
be provided under - ✔✔premises and operations
Which of the following businesses would be eligible for a businessowners policy? - ✔✔Hill & Morton
Funeral Home
The designation symbols used in commercial auto policies can be found in which policy section? -
✔✔covered auto
Which of the following is used in the formula for calculating the actual cash value (ACV) of a property? -
✔✔replacement cost
What type of bond guarantees that the principal will complete the contract as agreed upon? -
✔✔performance bond
