Xcel Solutions Property & Casualty Test | 120
Questions|COMPREHENSIVE QUESTIONS WITH
CORRECT/ VERIFIED ANSWERS|(frequently
most tested question)GET IT 100% ACCURATE
| ALREADY GRADED A+
Which of the following statements regarding the mortgage
clause is CORRECT? - ✔✔ANSWER✔✔>>It gives the
morgagee separate rights under the policy
Which of the following will not provide a premium discount
from standard market workers comp insurance? -
✔✔ANSWER✔✔>>Assigned Risk Plan
Which of the following would be examples of an insurer using
individual rating? - ✔✔ANSWER✔✔>>An insured's factory
has an underwriting inspection of their facility and the company
uses the inspection report to determine the factory's insurance
cost
Which of these is not an Unfair Claims Settlement Practice? -
✔✔ANSWER✔✔>>Offering to settle a claim by arbitration
,Which one is not an AZ Motor Vehicle minimum coverage
requirement? - ✔✔ANSWER✔✔>>Coverage may be stacked or
accumulated when more than one vehicle is covered
Which statement is false regarding the AZ property & casualty
insurance guaranty fund? - ✔✔ANSWER✔✔>>Assessments
are divided into four separate accounts
Which statement is false regarding the uninsured automobile
coverage that must be offered by insurers? -
✔✔ANSWER✔✔>>It provides at least $10,000 in case of
property damage to an insured person caused by an uninsured
driver
Which statement regarding the identification of the producer
rule is false? - ✔✔ANSWER✔✔>>A policy is invalidated if the
producer is not identified as required by law
Who of the following would be an example of a dram? -
✔✔ANSWER✔✔>>Buddy's Dive Bar & Grill
Work or operations performed by the insured or materials, parts
or equipment furnished in connection with such work is defined
as: - ✔✔ANSWER✔✔>>Your Work
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: - ✔✔ANSWER✔✔>>Not a business
, "Your product" is defined under a BOP as: -
✔✔ANSWER✔✔>>Containers that house an insured's real
property
A coverage trigger is: - ✔✔ANSWER✔✔>>The event that
makes a CGL policy respond to a claim
A licensed producer who lives in another state & transacts
insurance in AZ is called: - ✔✔ANSWER✔✔>>A Non-
Resident Producer
A licensee whose name or address changes must notify the Dept
of Insurance within _____ days: - ✔✔ANSWER✔✔>>30 Days
A motor vehivle liability policy must state all of the following in
order to remain in effect, except? -
✔✔ANSWER✔✔>>Whether the policy has workers comp rider
for employees working on the property
A negligent act that, defined under civil law, is an action
recoverable for injuries inflicted upon an innocent party is
known as a(n): - ✔✔ANSWER✔✔>>Tort
A producer must report to the Director any admin action taken
against her by any government agency within: -
✔✔ANSWER✔✔>>30 Days
A producer who attempts to intimidate is engaging in: -
✔✔ANSWER✔✔>>Coercion
Questions|COMPREHENSIVE QUESTIONS WITH
CORRECT/ VERIFIED ANSWERS|(frequently
most tested question)GET IT 100% ACCURATE
| ALREADY GRADED A+
Which of the following statements regarding the mortgage
clause is CORRECT? - ✔✔ANSWER✔✔>>It gives the
morgagee separate rights under the policy
Which of the following will not provide a premium discount
from standard market workers comp insurance? -
✔✔ANSWER✔✔>>Assigned Risk Plan
Which of the following would be examples of an insurer using
individual rating? - ✔✔ANSWER✔✔>>An insured's factory
has an underwriting inspection of their facility and the company
uses the inspection report to determine the factory's insurance
cost
Which of these is not an Unfair Claims Settlement Practice? -
✔✔ANSWER✔✔>>Offering to settle a claim by arbitration
,Which one is not an AZ Motor Vehicle minimum coverage
requirement? - ✔✔ANSWER✔✔>>Coverage may be stacked or
accumulated when more than one vehicle is covered
Which statement is false regarding the AZ property & casualty
insurance guaranty fund? - ✔✔ANSWER✔✔>>Assessments
are divided into four separate accounts
Which statement is false regarding the uninsured automobile
coverage that must be offered by insurers? -
✔✔ANSWER✔✔>>It provides at least $10,000 in case of
property damage to an insured person caused by an uninsured
driver
Which statement regarding the identification of the producer
rule is false? - ✔✔ANSWER✔✔>>A policy is invalidated if the
producer is not identified as required by law
Who of the following would be an example of a dram? -
✔✔ANSWER✔✔>>Buddy's Dive Bar & Grill
Work or operations performed by the insured or materials, parts
or equipment furnished in connection with such work is defined
as: - ✔✔ANSWER✔✔>>Your Work
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: - ✔✔ANSWER✔✔>>Not a business
, "Your product" is defined under a BOP as: -
✔✔ANSWER✔✔>>Containers that house an insured's real
property
A coverage trigger is: - ✔✔ANSWER✔✔>>The event that
makes a CGL policy respond to a claim
A licensed producer who lives in another state & transacts
insurance in AZ is called: - ✔✔ANSWER✔✔>>A Non-
Resident Producer
A licensee whose name or address changes must notify the Dept
of Insurance within _____ days: - ✔✔ANSWER✔✔>>30 Days
A motor vehivle liability policy must state all of the following in
order to remain in effect, except? -
✔✔ANSWER✔✔>>Whether the policy has workers comp rider
for employees working on the property
A negligent act that, defined under civil law, is an action
recoverable for injuries inflicted upon an innocent party is
known as a(n): - ✔✔ANSWER✔✔>>Tort
A producer must report to the Director any admin action taken
against her by any government agency within: -
✔✔ANSWER✔✔>>30 Days
A producer who attempts to intimidate is engaging in: -
✔✔ANSWER✔✔>>Coercion
