age 1 of 55
PSI PA Property and Casualty FINAL EXAM STUDY
GUIDE 2025/2026 COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS || 100%
GUARANTEED PASS <RECENT VERSION>
Farm property coverages A-G ......ANSWER........A) Dwelling
B) Other Structures (not farm structures)
C) Personal Property (non-farming) $3000 for loss of theft by
firearms, $5000 for grave markers, $500 for business prop
away from premise
D) Loss of Use
E) Scheduled Farm Personal Property- does not include turkeys,
crops, trees, or household personal items
,age 2 of 55
- farm personal property may also be insured on blanket basis
under coverage F
F) Unscheduled Farm Personal Property- 80% coinsurance
requirement
G) Barns and other farm structures
similar to homeowner section II coverage for personal exposures
and commercial general liability policy for the business
coverage ......ANSWER........Farm Liability Coverage Form
QOT: What must happen for the federal emergency flood
insurance program to go into effect? ......ANSWER........When a
community applies for the program and NFIP criteria is met
According to the insurance law, who is the principal?
......ANSWER........Broker
,age 3 of 55
An application as a resident agent must be made in how many
days if an individual establishes a principal place of residence
within Pa from another state? ......ANSWER........90 days
issued for 180 days for surviving spouse, surviving inactive
officer or partner, legal representative. Can be used upon
death or incompetency of producer, or when individuals are
serving in the military. ......ANSWER........a temporary license
Commissioner can do all of the following except?
......ANSWER........Endorse Insurers
Insurance department can deny an application if the applicant....
......ANSWER........provides incorrect or misleading info, been
denied in another state or violated commonwealth insurance
laws.
, age 4 of 55
the insurance department may issue this which requires the
insurer or person to stop activity in question
......ANSWER........Cease & Desist order
Insurance commissioner is appointed by... ......ANSWER........the
Governor
administered by a U.S. state to protect policyholders in the
event that an insurance company defaults on benefit payments
or becomes insolvent. Producers are prohibited to advertise it's
existence to secure business. ......ANSWER........Guaranty Fund
Performed by commissioner to prohibit rates that are excessive,
inadequate or unfairly;y discriminatory. ......ANSWER........Rate
Regulation
Insurance company should acknowledge receipt of claim within...
......ANSWER........10 working days
PSI PA Property and Casualty FINAL EXAM STUDY
GUIDE 2025/2026 COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS || 100%
GUARANTEED PASS <RECENT VERSION>
Farm property coverages A-G ......ANSWER........A) Dwelling
B) Other Structures (not farm structures)
C) Personal Property (non-farming) $3000 for loss of theft by
firearms, $5000 for grave markers, $500 for business prop
away from premise
D) Loss of Use
E) Scheduled Farm Personal Property- does not include turkeys,
crops, trees, or household personal items
,age 2 of 55
- farm personal property may also be insured on blanket basis
under coverage F
F) Unscheduled Farm Personal Property- 80% coinsurance
requirement
G) Barns and other farm structures
similar to homeowner section II coverage for personal exposures
and commercial general liability policy for the business
coverage ......ANSWER........Farm Liability Coverage Form
QOT: What must happen for the federal emergency flood
insurance program to go into effect? ......ANSWER........When a
community applies for the program and NFIP criteria is met
According to the insurance law, who is the principal?
......ANSWER........Broker
,age 3 of 55
An application as a resident agent must be made in how many
days if an individual establishes a principal place of residence
within Pa from another state? ......ANSWER........90 days
issued for 180 days for surviving spouse, surviving inactive
officer or partner, legal representative. Can be used upon
death or incompetency of producer, or when individuals are
serving in the military. ......ANSWER........a temporary license
Commissioner can do all of the following except?
......ANSWER........Endorse Insurers
Insurance department can deny an application if the applicant....
......ANSWER........provides incorrect or misleading info, been
denied in another state or violated commonwealth insurance
laws.
, age 4 of 55
the insurance department may issue this which requires the
insurer or person to stop activity in question
......ANSWER........Cease & Desist order
Insurance commissioner is appointed by... ......ANSWER........the
Governor
administered by a U.S. state to protect policyholders in the
event that an insurance company defaults on benefit payments
or becomes insolvent. Producers are prohibited to advertise it's
existence to secure business. ......ANSWER........Guaranty Fund
Performed by commissioner to prohibit rates that are excessive,
inadequate or unfairly;y discriminatory. ......ANSWER........Rate
Regulation
Insurance company should acknowledge receipt of claim within...
......ANSWER........10 working days
