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PSI Online examination NY Insurance Property and Casualty Practice test EXAM NEWEST, 2024/ 2025, ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A$7.99
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PSI Online examination NY Insurance Property and Casualty Practice test EXAM NEWEST, 2024/ 2025, ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A
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Course
NJ PSI PROPERTY AND CASUALTY
Institution
NJ PSI PROPERTY AND CASUALTY
PSI Online examination NY Insurance Property and
Casualty Practice test
$100,000 - ANS-An insured with split liability limits of 100/300/100 is at fault in an automobile
accident and the other vehicle sustains $6,500 in property damages as well as two occupants
have bodily injury and are claimi...
PSI Online examination NY Insurance Property and
Casualty Practice test
$100,000 - ANS-An insured with split liability limits of 100/300/100 is at fault in an automobile
accident and the other vehicle sustains $6,500 in property damages as well as two occupants
have bodily injury and are claiming $150,000 each. What is the most insurance will pay to each
occupant?
$20,000 - ANS-The insured carries underinsured motorists coverage limits of 250/500/250 on
his automobile policy and his vehicle is struck by an at fault motorist who insures with the State
minimum for liability of 20/40/10. If the insured brings suit for bodily injury damages to himself of
$500,000, how much will he recover from at fault driver's policy?
a. arbitration - ANS-Which policy condition is invoked when parties to an insured loss cannot
agree?
a. arbitration
b. assignment
c. liberalization
d. subrogation
a. carpet cleaning after a water main break - ANS-Which of the following would trigger coverage
under business income form with extra expense coverage?
a. carpet cleaning after a water main break
b. Employee pay after a building structure is damaged
c. building inspectors feeds after a loss
d. unit rent when tenant is liable
a. certificate - ANS-Which document would a lender ask an insured for as evidence that a policy
has been written?
a. certificate
b. declarations
c. endorsement
d. policy
a. compensate for actual financial losses - ANS-Punitive damages are intended to do all of the
following except?
a. compensate for actual financial losses.
b. discourage others from doing wrong.
c. discipline the insured.
d. make an example of bad behavior
, a. cost of bail bonds - ANS-Under the commercial general liability which one of the following is
covered under supplementary payments?
a. cost of bail bonds
b. defense costs for the plaintiff
c. court costs taxed against a third party
d. loss of earnings expense of over $250 a day
a. disability - ANS-Underwriters are permitted to use all of the following when underwriting an
application for insurance EXCEPT?
a. disability
b. inspection services
c. credit reports
d. claim history
a. employer liability - ANS-Which of the following provides insurance for employers when
workers not covered by workers' compensation insurance are injured on the job and sue for
compensation?
a. employer liability
b. no fault insurance
c. worker insurance
d. employee indemnity
a. indemnity - ANS-which of the following characteristics of an insurance contract expresses the
principle that the policyholder is returned to the approximate financial condition as before the
loss?
a. indemnity
b. risk transfer
c. insurance
d. risk reduction
a. it provides coverage for claims made outside the policy term - ANS-An extended reporting
period attached to a general liability policy provides coverage in which of the following ways?
a. it provides coverage for claims made outside the policy term
b. it gives an additional 30 days coverage beyond the policy term
c. it gives an additional 10 years coverage beyond the policy term
d. it covers any gap between the claims-made and occurrence forms
a. not driving a car to prevent getting in an accident - ANS-Which of the following is an example
of risk avoidance?
a. not driving a car to prevent getting in an accident
b. providing comprehensive training on how to drive a car
c. making sure a car has airbags before purchasing it
d. purchasing a large amount of automobile insurance
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