WV Property and Casualty Licensing Exam Questions and Correct Answers

In WV, the board of insurance education sets the requirements for prelicensing and continue education. This board is comprised of the insurance commissioner and six members who are represented by: two p & c agents, one health agent, one representative from a domestic company, and one representative from a foreign company Under a surety bond, the owner of the project is called the: Obligee Surety Principal Administrator obligee The insured is covered under a businessowners policy. He has several computers and the electronic data is corrupted as a result of lightning. The loss is $20,000. How much will the policy pay for the damaged data?: $20,000 $10,00 Nothing $2,500 $10,000 An "admitted insurer" in WV is: Any insurer licensed to conduct business within the borders of the US, it's territories ad possessions. Any insurer formed under the laws of WV. Any insurer licensed to conduct business within the state. Any incorporated insurer with capital owned by the state of WV. any insurer licensed to conduct business within the state. Minimum automobile liability limits that must be carried in WV are: 20/40/10 20/20/10 25/50/25 40/20/10 25/50/25 Rachel's