Texas Property And Casualty Practice Exam With Perfect A

Texas Property And Casualty Practice
Exam With Perfect A+ Answers




Endorsements (riders) may only be used by insurers in which scenario?CORRECT ANSWERS✔✔If they were
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approved by the commissioner
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A woman has a coin collection with multiple values of coins with a set price of 10,000. One coin is missing, and
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the value of the collection has dropped to 9,000. Which provision states only 1,000 will be paid out?CORRECT
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ANSWERS✔✔Pair and set clause...
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a) the value of the part of the set that was damaged
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b) the value of the entire set so long as the remainder of the set is given to the insurer
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A farm sprays herbicide on their crops and kills 500 trees on their neighbor's property, which of the following is
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best described?CORRECT ANSWERS✔✔An occurrence (an accident, including continuous or repeated
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exposure to substantially the same general harmful conditions)
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Which of the following best describes a casualty loss?CORRECT ANSWERS✔✔Bodily injury, property
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damage, medical or death of another person (a loss as a result of damage, destruction, or loss of property from
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any sudden, unexpected or unusual event)
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, Offering temporary coverage to an insured through oral or written contracts is known as:CORRECT ANSWERS
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✔✔A binder (i.e., placeholder) j j j




The definition of punitive damages is best described as:CORRECT ANSWERS✔✔Awarded damages in excess
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of compensatory damages (compensatory damages are intended to reimburse injured victim, while punitory
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damages are intended to penalize the at-fault party)
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An inland marine policy is most likely going to use which loss valuation?CORRECT ANSWERS✔✔Actual Cash
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Value (inland marine insurance protects business property when it is in transit or stored at another location)
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L has a homeowners policy, when she was struck by a vehicle and killed. Which of the following would MOST
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LIKELY occur?CORRECT ANSWERS✔✔Policy automatically transfers to her legal representative
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When would a person be eligible for income benefits under a workers compensation policy?CORRECT
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ANSWERS✔✔After satisfying the waiting period
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Which of the following is included in a Business Owners Policy automatically?CORRECT ANSWERS✔✔
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An insurer MAY use which of the following for underwriting purposes?CORRECT ANSWERS✔✔Sex
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(male/female)
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In the event of a claim, who must the insured provide notice of claim to?CORRECT ANSWERS✔✔Insurer
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Which of the following is covered under a Homeowners 002 Broad form?CORRECT ANSWERS✔✔Theft
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All of the following are covered under a DP-1, except:CORRECT ANSWERS✔✔Water sewer backup
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