PEARSON VUE: PROPERTY INSURANCE PRACTICE EXAM,

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PEARSON VUE: PROPERTY INSURANCE PRACTICE EXAM,

STUDY QUESTIONS INSURANCE, CASUALTY FL

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Which of the following perils is covered by Broad Form perils but is not covered by the Basic Form?

• Vandalism
• Weight of ice and snow
• Riot
• Windstorm

Answer:

B Question 2: A Commercial General Liability policy provides coverage for which of the following hazards?A.Professional Liability A.Professional Liability B.Employee Injury Liability B.Employee Injury Liability C.Pollution Liability

C.Pollution Liability D.Premises Liability D.Premises Liability

Answer:

d Question 3: G insures G's television repair shop under a Building and Personal Property Coverage Form with limits of $100,000 on the building and $50,000 on business personal property. A fire causes $10,000 in damage to the building and $20,000 in losses to the contents.G also has to pay $1,000 for debris removal. If the policy has a deductible of $250, G will receive a MAXIMUM of which of the following amounts from the insurer?

A. $29,750

B. $30,000

C. $30,750

D. $31,000

Answer:

C Question 4: In a Commercial Property form, if a building is left vacant, coverage for vandalism will continue for up to how many days?

• Thirty
• Forty-five
• Sixty
• Ninety

Answer:

C

Question 5: Which of the following statements is CORRECT about the Fair Credit Reporting Act?

• It requires an insurer to send to an applicant a copy of the applicant's credit report.
• It requires an insurer to obtain a credit report on an applicant.
• It allows an insurer to obtain a credit report without the applicant's permission.
• It provides a method for an applicant to correct any incorrect information in the credit

report.

Answer:

D Question 6: The Personal Liability section of a Homeowners policy covers which of the following options?

• Damage to an insured's property caused by a visitor
• Bodily injury to a resident caused by a neighbor's dog
• Property damage caused by war
• Bodily injury caused by the personal activities of an insured

Answer:

D Question 7: What is the maximum limit of liability that is available under the Florida Automobile Joint Underwriting Association?

Answer:

B100/300/50

Question 8: Which of the following terms can be defined as a policy provision that omits certain risks from coverage?

• Declarations
• Insuring Agreement
• Conditions
• Exclusions

Answer:

D Question 9: Actual cash value is most often defined as: A.replacement cost less depreciation A.replacement cost less depreciation B.original purchase price less depreciation B.original purchase price less depreciation C.stated amount a policy will pay C.stated amount a policy will pay D.cost to replace D.cost to replace

Answer:

a Question 10: A Commercial Building and Personal Property form provides coverage for:

• a patio attached to the building
• business personal property
• personal auto held for sale
• guard dogs

Answer:

B Question 11: A company's promise to pay for damage caused by or resulting from any covered Cause of Loss would be found in which of the following sections of a Commercial Property policy?

• Declarations
• Insuring Agreement