PA PROPERTY & CASUALTY
INSURANCE EXAM (C)
Dwelling and Homeowners policies exclude coverage for -
ANSWERS-Flood
All of the following are examples of loss exposure except? -
ANSWERS-Completed Operations
An insurance producer may NOT withdraw funds from a premium
trust account to - ANSWERS-Pay premium to insurance
The classification type of construction that uses material that can
withstand fire for at least 2 hours - ANSWERS-Fire resistive
What is a benefit of a commercial package policy? - ANSWERS-To
replace the need for multiple policies
What coverage part in a homeowner's policy includes building
materials on the premises used to repair the covered property? -
ANSWERS-Dwelling
The entity that has the power to revoke an insurance license is the -
ANSWERS-Insurance commissioner
, Which of the following example of a loss covered by collision
coverage under a business auto policy - ANSWERS-Breakage of glass
What type of property does an insured suffer if they do not carry
sufficient if they don't NOT carry sufficient property insurance to
meet the policy requirements? - ANSWERS-Excess
An individual who acts on behalf of an inquirer in negotiating an
insurance contract is known as - ANSWERS-Consultant
A deliberate lie by an insured to the insurer to obtain a lower premium
is an example of - ANSWERS-Fraud
All of the following are elements of an agreement EXCEPT? -
ANSWERS-The definite terms
When terminating a licensed producer's appointment an insured must
- ANSWERS-Notify the commissioner within 30 days following the
termination
An individual purchased a vehicle and financed it through his credit
union which party does not have an insurable interest - ANSWERS-
The credit union
After the hearing, the insurance commissioner has determined a
licensee has committed a violation of PA insurance laws what can the
INSURANCE EXAM (C)
Dwelling and Homeowners policies exclude coverage for -
ANSWERS-Flood
All of the following are examples of loss exposure except? -
ANSWERS-Completed Operations
An insurance producer may NOT withdraw funds from a premium
trust account to - ANSWERS-Pay premium to insurance
The classification type of construction that uses material that can
withstand fire for at least 2 hours - ANSWERS-Fire resistive
What is a benefit of a commercial package policy? - ANSWERS-To
replace the need for multiple policies
What coverage part in a homeowner's policy includes building
materials on the premises used to repair the covered property? -
ANSWERS-Dwelling
The entity that has the power to revoke an insurance license is the -
ANSWERS-Insurance commissioner
, Which of the following example of a loss covered by collision
coverage under a business auto policy - ANSWERS-Breakage of glass
What type of property does an insured suffer if they do not carry
sufficient if they don't NOT carry sufficient property insurance to
meet the policy requirements? - ANSWERS-Excess
An individual who acts on behalf of an inquirer in negotiating an
insurance contract is known as - ANSWERS-Consultant
A deliberate lie by an insured to the insurer to obtain a lower premium
is an example of - ANSWERS-Fraud
All of the following are elements of an agreement EXCEPT? -
ANSWERS-The definite terms
When terminating a licensed producer's appointment an insured must
- ANSWERS-Notify the commissioner within 30 days following the
termination
An individual purchased a vehicle and financed it through his credit
union which party does not have an insurable interest - ANSWERS-
The credit union
After the hearing, the insurance commissioner has determined a
licensee has committed a violation of PA insurance laws what can the
