Page |1
Exam Fx-Property and Casualty Exam
Questions & Answers | 100% Verified
solutions |Questions with Correct Answers
2025 latest update!! Questions and
Correct Answers/ Latest Update / Already
Graded
To be considered an insurable risk, a loss may NOT be
Ans: catastrophic
Which of the following persons would be required to hold a producer
license?
Ans: a nonresident agent who negotiates insurance contracts
Which of the following is the oldest known type of insurance?
Ans: ocean marine
The contents coverage on a homeowners policy would pay how much
after the loss of one of a pair of golden candlesticks?
Ans: the difference in the actual cash value as a pair and as a
single
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, Page |2
Which of the following additional perils is covered under both of the
Basic and Broad forms in dwelling policies?
Ans: internal explosion
When would a misrepresentation on the insurance application be
considered fraud?
Ans: 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
Ans: penalty
In insurance, an offer is usually made when
Ans: the application is submitted
All of the following actions by a producer may be grounds for license
revocation or non-renewal EXCEPT
Ans: participating in controlled business
All rights reserved © 2025/ 2026 |
, Page |3
In personal auto policies, the term "you" refers to
Ans: the named insured
Business personal property coverage form covers all of the following
except:
Ans: automobiles held for sale
in dwelling policies, automatic increase in insurance is
Ans: coverage by endorsement
To be eligible for businessowners policy (BOP) coverage, an office
building CANNOT be higher than
Ans: 6 stories
Elaborate homes with replacement costs greater than ACV or market
value are insured on the
Ans: HO-8 Form
Which of the following dwelling coverage forms would pay
replacement cost for the dwelling?
All rights reserved © 2025/ 2026 |
Exam Fx-Property and Casualty Exam
Questions & Answers | 100% Verified
solutions |Questions with Correct Answers
2025 latest update!! Questions and
Correct Answers/ Latest Update / Already
Graded
To be considered an insurable risk, a loss may NOT be
Ans: catastrophic
Which of the following persons would be required to hold a producer
license?
Ans: a nonresident agent who negotiates insurance contracts
Which of the following is the oldest known type of insurance?
Ans: ocean marine
The contents coverage on a homeowners policy would pay how much
after the loss of one of a pair of golden candlesticks?
Ans: the difference in the actual cash value as a pair and as a
single
All rights reserved © 2025/ 2026 |
, Page |2
Which of the following additional perils is covered under both of the
Basic and Broad forms in dwelling policies?
Ans: internal explosion
When would a misrepresentation on the insurance application be
considered fraud?
Ans: 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
Ans: penalty
In insurance, an offer is usually made when
Ans: the application is submitted
All of the following actions by a producer may be grounds for license
revocation or non-renewal EXCEPT
Ans: participating in controlled business
All rights reserved © 2025/ 2026 |
, Page |3
In personal auto policies, the term "you" refers to
Ans: the named insured
Business personal property coverage form covers all of the following
except:
Ans: automobiles held for sale
in dwelling policies, automatic increase in insurance is
Ans: coverage by endorsement
To be eligible for businessowners policy (BOP) coverage, an office
building CANNOT be higher than
Ans: 6 stories
Elaborate homes with replacement costs greater than ACV or market
value are insured on the
Ans: HO-8 Form
Which of the following dwelling coverage forms would pay
replacement cost for the dwelling?
All rights reserved © 2025/ 2026 |
