Page 1 of 88
CQM-C FINAL EXAM PREP 2025/2026 ACCURATE
QUESTIONS WITH CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <NEWEST VERSION>
A portion of an insurance contract that informs who and what is
covered, in addition to when coverage is effective, is known as
the
a. Declaration page
b. Insuring agreement
c. Conditions
d. Exclusions .......Answer.........a. Declaration page
The law that says the federal government has the right to
regulate insurance only to the extent it is not regulated by state
law is _________.
,Page 2 of 88
a. the McCarran-Ferguson Act.
b. the Gramm-Leach-Bliley Act.
c. the FCRA.
d. the Violent Crime Control and Law Enforcement Act of 1994.
.......Answer.........a. the McCarran-Ferguson Act.
The pair and set clause found in property insurance policies
states that in the event of a loss to only part of a pair or set,
losses will be settled
a. As if the entire pair or set had been destroyed
b. At the proportionate amount of the stated value
c. Either by repairing or replacing the damaged part or by
paying the difference between the actual cash value before and
after the loss
,Page 3 of 88
d. Based on the actual cash value of the individual part
.......Answer.........c. Either by repairing or replacing the damaged
part or by paying the difference between the actual cash value
before and after the loss
All of the following are eligible risks under a businessowners
policy EXCEPT
a. The tenant of an office building
b. A general contractor who operates primarily off premises -----
> INCORRECT
c. The owner of a five story office building ----> Incorrect
d. A 50 unit apartment complex with a small gift shop on
premises
The correct answer can be found in Chapter 8
.......Answer.........The federal law that removed the barriers
, Page 4 of 88
between commercial banking, investment banking, and insurance
was the _______________.
a. Gramm-Leach-Bliley Act.
b. McCarran-Ferguson Act
c. Violent Crime Control and Law Enforcement Act of 1994. -----
> Incorrect
d. Sherman Anti-Trust Act. ----> INCORRECT
Incorrect, Please Review Chapter 1 .......Answer.........
Which of the following constitutes valid consideration?
CQM-C FINAL EXAM PREP 2025/2026 ACCURATE
QUESTIONS WITH CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <NEWEST VERSION>
A portion of an insurance contract that informs who and what is
covered, in addition to when coverage is effective, is known as
the
a. Declaration page
b. Insuring agreement
c. Conditions
d. Exclusions .......Answer.........a. Declaration page
The law that says the federal government has the right to
regulate insurance only to the extent it is not regulated by state
law is _________.
,Page 2 of 88
a. the McCarran-Ferguson Act.
b. the Gramm-Leach-Bliley Act.
c. the FCRA.
d. the Violent Crime Control and Law Enforcement Act of 1994.
.......Answer.........a. the McCarran-Ferguson Act.
The pair and set clause found in property insurance policies
states that in the event of a loss to only part of a pair or set,
losses will be settled
a. As if the entire pair or set had been destroyed
b. At the proportionate amount of the stated value
c. Either by repairing or replacing the damaged part or by
paying the difference between the actual cash value before and
after the loss
,Page 3 of 88
d. Based on the actual cash value of the individual part
.......Answer.........c. Either by repairing or replacing the damaged
part or by paying the difference between the actual cash value
before and after the loss
All of the following are eligible risks under a businessowners
policy EXCEPT
a. The tenant of an office building
b. A general contractor who operates primarily off premises -----
> INCORRECT
c. The owner of a five story office building ----> Incorrect
d. A 50 unit apartment complex with a small gift shop on
premises
The correct answer can be found in Chapter 8
.......Answer.........The federal law that removed the barriers
, Page 4 of 88
between commercial banking, investment banking, and insurance
was the _______________.
a. Gramm-Leach-Bliley Act.
b. McCarran-Ferguson Act
c. Violent Crime Control and Law Enforcement Act of 1994. -----
> Incorrect
d. Sherman Anti-Trust Act. ----> INCORRECT
Incorrect, Please Review Chapter 1 .......Answer.........
Which of the following constitutes valid consideration?
