XCEL SOLUTIONS PROPERTY & CASULTY TEST 150
QUESTIONS WITH 100% CORRECT ANSWERS
VERIFIED LATEST UPDATE 2024
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
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What is the best description of an applicant to the
AZ auto insurance plan? - CORRECT ANSWER
>>>>An applicant in good-faith entitled to coverage
but unable to obtain coverage through ordinary
methods
Which statement regarding the identification of the
producer rule is false? - CORRECT ANSWER >>>>A
policy is invalidated if the producer is not identified
as required by law
If an insured's dog bites a guest that results in a
settlement amount of $150,000 plus attorney fees
of $70,000. How much is the insured personally
responsible to pay if their homeowners policy
Coverage E amount was $100,000? - CORRECT
ANSWER >>>>$50,000
J has a policy that pays a maximum single dollar
amount for property damage & death or bodily
injury. Which Limit of Liability does J's policy have? -
CORRECT ANSWER >>>>Combined Single Limit
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E is a professional musician who owns a vintage
guitar with a current value of $20,000. E should
properly insure this guitar with a(n): - CORRECT
ANSWER >>>>Personal Articles Floater
For policyholders in the same risk classification, it is
unlawful to: - CORRECT ANSWER >>>>Charge
different premiums
All of the following are main elements of a
commercial package policy, EXCEPT: - CORRECT
ANSWER >>>>Liability
Which of the following homeowner forms pays for
loss on a functional replacement cost basis? -
CORRECT ANSWER >>>>HO-8
A motor vehivle liability policy must state all of the
following in order to remain in effect, except? -
CORRECT ANSWER >>>>Whether the policy has
workers comp rider for employees working on the
property
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