TEXAS PROPERTY AND CASUALTY 2024 EXAM QUESTIONS WITH CORRECT SOLUTIONS || GUARANTEE TO PASS
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TEXAS PROPERTY AND CASUALTY
Institution
TEXAS PROPERTY AND CASUALTY
TEXAS PROPERTY AND CASUALTY
2024 EXAM QUESTIONS WITH
CORRECT SOLUTIONS ||
GUARANTEE TO PASS
FOB (Free on Board) Point of Destination is best described as? -
ANSWER The seller is responsible for the property being transported
until it has been delivered
The Business I...
TEXAS PROPERTY AND CASUALTY
2024 EXAM QUESTIONS WITH
CORRECT SOLUTIONS ||
GUARANTEE TO PASS
FOB (Free on Board) Point of Destination is best described as? -
ANSWER ✔ The seller is responsible for the property being transported
until it has been delivered
The Business Income - Report of Values Endorsement estimates profits
for the ___________. - ANSWER ✔ Both past 12 months and upcoming
12 months
An insurance policy that protects the producer is known as which of the
following? - ANSWER ✔ Erros and Omissions
Choose the true statement about the Builder's Risk Floater. - ANSWER
✔ Coverage can be provided for farms
The Nationwide Marine Definition specifies risks that may be written
under Marine Insurance. All of the following may be insured under
marine policies, except: - ANSWER ✔ Commercial buildings
Coverage is open peril on the Jewelers Block Floater but there is no
coverage for ___________ unless added as an optional coverage. -
ANSWER ✔ Broken or smashed show windows
, When is the freight revenue considered part of the cargo's limit of
insurance? - ANSWER ✔ When the shipper pays part of the carrier's
freight bill without regard to deliver
The BOP excludes which of the following property? - ANSWER ✔
Satellite dish located on the premises
Property stored temporarily in another location is covered under the
BOP for how many days? - ANSWER ✔ 30
The BOP includes which of the following coverages under the Business
Liability coverage? - ANSWER ✔ Bodily injury or property damage
caused by an occurrence that takes place in the coverage territory during
the policy period
Choose the correct statement regarding Inspections and Surveys of the
Business owners Policy. - ANSWER ✔ The insurer has the right, but is
not obligated, to make surveys at any time
Which coverage is not automatically included in the Business owners
Policy? - ANSWER ✔ Equipment breakdown
When entered correctly on the BOP Declarations, the Money and
Securities Optional Coverage will cover which of the following? -
ANSWER ✔ Money and securities against theft, disappearance or
destruction
The Earthquake endorsement coverage continues for up to
___________ hours after the policy expiration - ANSWER ✔ 168 hours
Choose the correct statement regarding the Businessowners Policy? -
ANSWER ✔ If content coverage equals 100% of the average monthly
,values for the preceding 12 months, an automatic 25% increase in
content coverage is provided to offset seasonal variations in stock values
All of the following are true of a Businessowners Policy, except: -
ANSWER ✔ Medical expenses are made only if the insured is legally
liable
All of the following are true of Businessowners Coverage Form -
Section II, except: - ANSWER ✔ Under property damage, coverage
applies to property that the insured owns, rents and occupies
Under the Businessowners Liability Coverage, after a claim has been
paid, any recovery rights: - ANSWER ✔ Belong to the insurer
A(n) ___________ is not eligible under the Businessowners policy? -
ANSWER ✔ 10-story office building
BOP liability covers medical expenses for an injury occurring on the
insured's premises within what time period from the date of the injury? -
ANSWER ✔ 1 year
The BOP policy provides the same liability coverage as which of the
following policies? - ANSWER ✔ Commercial General
Choose the true statement about the BOP Time Element part of the
Utilities Services Endorsement? - ANSWER ✔ It pays for loss of
business income or extra expense at the described premises caused by
the interruption of service at the described premises
Under Section II of the Businessowners Coverage Form which of the
following is not true? - ANSWER ✔ Under property damage, coverage
applies to property that the insured owns, rents and occupies
, Within how many days after an insured acquires new business property
must the property be added to the BOP policy? - ANSWER ✔ 30
Which coverage is not an Additional Coverages in the Businessowners
Coverage Form? - ANSWER ✔ Equipment breakdown
Choose the correct statement regarding the BOP Protective Safeguards
Endorsement. - ANSWER ✔ Insured is required to maintain the
safeguards listed in the endorsements such as the automatic sprinkler
systems, automatic fire alarms and/or security services
Choose the most accurate statement regarding the Assigned Risk Plan
of Workers' Compensation. - ANSWER ✔ Any employer who is unable
to purchase coverage in the voluntary market can obtain coverage in the
Assigned Risk Plan
Temporary Total Disability may be defined as: - ANSWER ✔ The
inability to return to any employment while recovering
The claims adjuster for the Employers Liability Insurance policy will
not pay which of the following claims submitted by employees? -
ANSWER ✔ Bill is injured while playing softball at a company picnic at
a nearby park
A Stock Insurance Company is: - ANSWER ✔ An insurance company
with a stated amount of capital stock owned by stockholders who
exercise direction by means of corporate officers and a Broad of
Directors elected by the stockholders
When writing the application for homeowners insurance, B's agent
asked him if he had any theft losses in the past 3 years. B answered 'no,'
knowing that he was a theft victim 3 times in the past 3 years. B is guilty
of which of the following? - ANSWER ✔ Misrepresentation
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