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Texas Property and Casualty practice exam QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES 2025/2026 (VERIFIED ANSWERS) |ALREADY GRADED A+$12.99
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#28.
When applying for an individual existence insurance policy, an applicant states that he went to
the medical doctor for nausea, however fails to say that he turned into also having extreme
chest pains. This is an example of - ANS-concealment
A house owner sells his residence to a friend. The pal wants to hold the house owner's
contemporary coverage in impact. Under the project provision, which of the subsequent is
maximum probable? - ANS-The home owner will need to get written consent from the insurer
earlier than the coverage may be reassigned.
A top rate cut price is the time period that describes when an insured owes a total popular top
class more than - ANS-$five,000
All of the following are taken into consideration elements of the coverage structure EXCEPT -
ANS-Provisions
All of the subsequent are authentic regarding deposit top class - ANS-It ought to be paid earlier.
It is an estimated top class paid at the policy trouble.
It could be adjusted by way of the audit.
Deposit top class is an expected top rate paid earlier at the time the coverage is issued that can
be adjusted by means of the audit based on real exposures.
All of the subsequent statements describe the concept of strict liability EXCEPT - ANS-It is
imposed on defendants engaged in hazardous activities
An insured is making use of for a casualty insurance policy. One of the situations of the policy
allows the coverage business enterprise to look into the insured's books on the quit of the policy
time period to make certain enough premium has been collected for the exposure she plans to
insure. Which circumstance is a part of the insured's coverage? - ANS-Deposit top class audit
Deposit top rate audit is a condition that permits an insurer to look at the insured's books on the
stop of the policy time period to make sure enough charge has been accumulated for the
exposure.
An insured owns a building this is worth $400,000. To follow the eighty% coinsurance provision
of his coverage coverage, how a whole lot should he insure the belongings for? - ANS-80% of
the belongings's substitute cost or more
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