TEXAS PERSONAL LINES INSURANCE EXAM

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TEXAS PERSONAL LINES INSURANCE EXAM

Qs and Ans - Expert- Explanation - ing score -90 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: declarations- tell who, what, when & where, this information is different in each contract

Answer:

under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured w/in how many days of receiving proof of loss Question 2: Up to $100 for the cost to secure the release of a vehicle from an impoundment lot following a covered accident

Answer:

Payment for medical expenses, loss of wages, funeral expenses, Question 3: business property while on the residence premises - contents will cover up to a 2,500 for loss of business prop on premises

Answer:

which of the following is NOT the consideration in policy

Question 4: the coinsurance formula will also be applied to total losses

Answer:

which of the following is mandatory part of an insurance policy that varies with each individual policy?

Question 5: if the insured is owner-occupant of the dwelling

Answer:

Under the dwelling policy, coverage c - personal property is

Question 6: shows the types and amts of insurance issued to the insured

Answer:

what type of liability would a person who owns wild animals have

Question 7: 30 days- for removal coverage

Answer:

a certificate of insurance is written document tht Question 8: its for property that is portable - personal property floater (all risk any where in the world)//personal article floaters (furs jewelry, cameras, fine art, etc)// Personal Effects floaters (personal effects carried or worn by travelers anywhere in the world, but not while the property is at home

Answer:

an insured owns a large dog. 1st day has to leave the dog home alone, he comes back to find his $400 couch torn apart, 100 coffee table chewed, his 50 window curtains shredded, and 200 window pane shattered. The insured has personal property coverage under a special form dwelling policy. how much of this loss will the policy cover?

Question 9: a pickup or van titled to and used in the named insured's business

Answer:

which of the following would NOT qualify as a hired auto?

Question 10: Insured

Answer:

What is the minimum amount of coverage that should be carried on an HO2 on a home that was purchased 4 years ago for $75,000, which today has a replacement value of $100,000

Question 11: an applicant submits an application to the insurer

Answer:

a license may NOT be denied, suspended or revoked if the licensee

Question 12: the lesser of the above amts - not exceeding the max available amt which is

$300,000

Answer:

which of the following is the basic auto liability limit required for BI or death to any one person in any once accident

Question 13: The amount of coverage on the dwelling

Answer:

An insured's house is damaged by a fire and is uninhabitable. AS a result, the insured has to rent an apartment until repairs are made. A dwlling insurance policy will pay for the expense of renting the apartment. Which type of broad or special form coverage does the insured have?

Question 14: the amount negotiated by the insured

Answer:

with respect to the personal auto policy, which of the following vehicles could be classified as a nonowned auto?Question 15: HO6 provides limited dwelling coverage as well as contents coverage

Answer:

an additonal loss that results from a direct loss of property is called a/an Question 16: rebating - this is when producers give or promise anything of value that is not specified in the policy

Answer:

in insurance transactions, fiduciary responsibility means Question 17: all liscensed agents must comply by January 1 of even-numbered years -- CE reporting period coincides witht he license renewal date every 2 years

Answer:

an agent explains the details of a life insurance policy to a client. the agent does not realize, however, that the state has recently rewritten two of the provisions. As a result, the agent inadvertently misrepresents the policy, making it more attractive than it really is. what best describe this situation

Question 18: $500

Answer:

Under which of the following conditions can broad theft coverage be added to a dwelling policy

Question 19: proof of loss

Answer:

which part of an insurance policy covers claims-related expenses, reasonable expenses incurred by an insured to protect damaged property from further loss, or defense expenses?

Question 20: vicarious liability - ie parent/child or employer/employee

Answer:

what type of compensatory damages will pay for pain and suffering and disfigurement>

Question 21: submits an unsigned insurance policy application

Answer:

an insurer that holds a certificate of authority in the state in which it transacts business is considered a/an

Question 22: Any other state

Answer:

In a personal auto policy, the medical payments coverage is similar to

Question 23: authorized insurer

Answer:

all of te following are considered unfair or deceptive acts in connection w/ the sale of insurance

EXCEPT

Question 24: giving a client a $25 pen w/ the insurer's logo during the insurance application process

Answer:

homeowners policies provide coverage for Question 25: $80,000 - due to it needing to be insured at least 80% of rc in order to collect the full rc of a partial loss

Answer:

Which of the following property coverages would provide protection to contents damaged by fire?