Property And Casualty Certification Exam (Review Q&As)

Which vehicle is considered a temporary substitute auto?

A A dealer's loaner car used while the insured's auto is being repaired B A neighbor's auto borrowed by an insured over a weekend C A vehicle rented by the insured on vacation D An auto being test-driven by an insured for possible purchase

Choose the FALSE statement about mobile home insurance:

A Coverage A insures the mobile home and property installed on a permanent basis B The mobile home and contents may be written only on a named peril basis C When threatened by a covered peril, the policy provides $500 for reasonable expenses for moving the mobile home D While being moved to a new location, an optional endorsement will provide coverage for collision up to 30 days

All of the following are correct concerning medical payments under Commercial General Liability Insurance, except:

A Covered is medical expense for bodily injury caused by an accident on the insured's premises or because of the insured's operations B Payments are made for expenses incurred and reported within one year of the accident C Payments are made regardless of fault D Payments are made only if the insured is determined to be legally liable

Which provision requires the insured to maintain a certain limit of insurance?

A Insuring Agreement B Coinsurance C Limit of Liability D Replacement Cost

Which loss would NOT be covered by the National Flood Insurance Program?

A Overflow of inland or tidal waters B Unusual and rapid accumulation or runoff of surface waters C Water main break D Mudflow caused by accumulation of water

A licensed individual who is limited to transacting business related to property and casualty insurance sold to individuals and families for noncommercial purposes is a:

A Personal lines agent B Public Adjuster C General lines agent D Customer Service Representative

What is the main difference between the Occurrence Form and the Claims-Made Form of the Commercial General Liability policy?

A The Occurrence Form covers "occurrences" and the Claims-Made Form covers "accidents" B The Occurrence Form includes an extended reporting period C The coverage trigger is different for each D The Claims-Made Form covers claims on occurrences that took place after policy termination