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P & C Test Review
| Question | Answer |
|---|---|
| Under Part One - Workers' Compensation Insurance of a Workers' Compensation and Employers Liability policy, the insured would be required to pay which of the following in the event of a Workers' Compensation claim? A Premiums for the appeal bonds when t | D |
| Which of the following is NOT an unfair claims practice? Failing to attempt, in good faith, to promptly, fairly, and equitably settle a claim in which the insurer's liability has become reasonably clear B Refusing to pay a claim without investiga | D |
| Under a Commercial Crime policy written on the Loss Sustained Form, what is the latest date a covered loss can occur? A The retroactive date B The policy expiration date C 2 years following policy expiration D 1 year following policy expir | B |
| According to the Nationwide Marine Definition, all of the following risks may be insured by inland marine insurance, except: A Domestic shipments B Commercial autos C Transmission towers and their equipment D Cargo being transported for ex | B |
| Which of the following perils is always excluded under the Farm Property Coverage Form? A Volcanic action B Falling objects C Sinkhole collapse D Landslide | D |
| f an insured has comprehensive physical damage coverage provided by their Personal Auto policy, the insurer would deny which of the following physical damage claims? A Loss to the covered auto's electronic ignition equipment B Earthquake damage to | C |
| Which of the following is true about binders? A A binder will not end when the policy is issued B A binder always expires 15 days after its inception date C The amount of insurance is stated in a binder D A binder does not name the company | C |
| In property insurance, which condition prevents the insured from relinquishing ownership, leaving damaged property to the insurer, and claiming a total loss? A Assignment B Loss Payable Clause C Abandonment D Loss Settlement | C |
| Which of the following about policy limits applicable to Commercial General Liability policies is not correct? A The limits of the policy stated in the Declarations are the maximum amounts payable for the life of the policy B Section III describes | A |
| Coverage for recreational vehicles and motor homes can be added to a Personal Auto policy by the: A Recreational Vehicles Endorsement B Miscellaneous Type Vehicle Endorsement C Extended Non-owned Coverage Endorsement D Joint Ownership Endo | B |
| The limit of insurance that the insurer will pay for a physical damage loss covered by a Business Auto policy is the: A Greater of the actual cash value or the cost to repair or replace with like kind and quality B Actual cash value of the damaged | C |
| Liability coverage is designed to: A Protect an insured from being sued by an injured party B Permit the insured to countersue the insurer for losses not covered C Protect the insured from the cost of damages for bodily injury and property dam | C |
| Which injury would be covered by a CGL policy? A The spouse of a sole proprietor injured carrying boxes into the shop B A leased worker injured on the production line C A customer injured while standing in an area marked as being for employees | C |
| A loss caused by which of the following would be automatically covered under a Businessowners policy? A Earth movement B Off-premises power failure C Increased cost of construction D Mechanical breakdown | C |
| Which of the following is not a standard exclusion under a Commercial Umbrella Liability policy? A Professional services B Contractual liability C Product recall D Personal injury | D |
| Which of the following statements regarding the Commercial Articles Coverage Form is correct? A Coverage is only provided for property while on the insured's premises B It covers property used for business purposes, such as cameras and films C | B |
| Under a Personal Auto policy, which of the following vehicle uses is not excluded by medical payments coverage? A Residence B Farm use C Organized racing D Livery conveyance | B |
| All of the following are eligible for coverage under the Dwelling Program, except: A A single-family home in the suburbs B A duplex occupied by tenants C A vacation home used as a secondary residence D A beauty shop with a small bedroom at | D |
| Under a Commercial Package policy, which of the following is found in the Common Policy Declarations? A The insurer's cancellation right B The deductible C The provision granting the insurer the right to make inspections of insured property | B |
Created by:
kortneylucas