XCEL SOLUTIONS PROPERTY CASUALTY

Page | 1

XCEL SOLUTIONS PROPERTY & CASUALTY

TEST | BRAND NEW ACTUAL EXAM WITH

100% VERIFIED QUESTIONS AND CORRECT

SOLUTIONS| GUARANTEED VALUE PACK| ACE

YOUR GRADES.

• An earned premium resulting from the cancellation of a policy is

calculated on: - correct answer - On a pro rata basis, based on the

previous year's rate

2. M owns a parking garage & has coverage that states: "We will cover

losses regardless if you are legally liable for the loss." This no-fault

ideology will be found under: - correct answer - Excess Direct Coverage

• An insurance company writing business in a state other than the one in

which it is domiciled is called: - correct answer - a Foreign

• Y is running a home daycare out of their home & has just earned

$50,000 in her first year of business. Under an HO policy, Y's daycare is

defined as: - correct answer - Not a business

• Underwriting guards against - correct answer - Adverse Selection
• / 3

Page | 2

• A licensee whose name or address changes must notify the Dept of

Insurance within _____ days: - correct answer - 30 Days

7. Assumption of risk: - correct answer - States that a party will not collect

damages because they should have known what they were doing was risky

• Under a DP-2 Broad form, which of the following is not a Broad peril? -

correct answer - Vandalism

• Which of the following incidents would not be excluded under a DP-3

policy? - correct answer - Burglary of a property that was vacant for 30 consecutive days

• Which of the following are losses excluded under Coverage F? -

correct answer - An individual who is eligible to receive disability insurance

• Which of the following will not provide a premium discount from

standard market workers comp insurance? - correct answer - Assigned Risk Plan

• / 3

Page | 3

12. The face amount of a Surety bond is called the: - correct answer -

Penalty

• M has opened up his business, Tractors & Semis Sales, LLC. His

stock will be covered while it is being transported, if he: - correct answer

• Adds the equipment dealers floater

• All of the following are correct about the Commercial Endorsement

regarding Spoilage EXCEPT: - correct answer - Coverage extends to

stock off premises

• What is a certificate of authority? - correct answer - The license

required for an insurer to conduct business in the state

• A licensed producer who lives in another state & transacts insurance

in AZ is called: - correct answer - A Non-Resident Producer

• Any of the following may be an unfair claims settlement practice

EXCEPT: - correct answer - Refusing to pay persons bringing false or

fraudulent claims

• / 3