P&C Exam Pool Questions and answers, 100% Accurate, rated A+

P&C Exam Pool Questions and answers, 100% Accurate, rated A+ Which of the following would be eligible to collect survivor and death benefits from workers' compensation in the event of the covered injury resulting in ...

P&C Exam Pool Questions and answers, 100% Accurate, rated A+ Which of the following would be eligible to collect survivor and death benefits from workers' compensation in the event of the covered injury resulting in the death of an employee? 1. medical provider 2. insured's legal team 3. spouse of employee 4. owner of the business - ✔✔-spouse of employee Liability arising out of any of the following is excluded from the personal and advertising injury liability coverage EXCEPT 1. unknowingly inflicting injury that violates the rights of another. 2. oral or written publication of material that the insured knows is false. 3. criminal acts committed by or at the direction of the insured. 4. failure of goods or products to conform with advertised quality. - ✔✔-unknowingly inflicting injury that violates the rights of another. A woman slips on icy steps and breaks her leg. Which of the following is the peril in this situation? 1. the fall 2. the icy steps 3. the broken leg 4. the season of the year - ✔✔-the fall Which of the following created The National Flood Insurance Program? 1. an association of mortgage banks 2. the United States Congress 3. governors of flood prone states 4. a consortium of insurance companies - ✔✔-the United States Congress Which of the following is covered by the Homeowners Broad form (HO-2) insurance? 1. tenants 2. breakage of glass 3. condominium structures 4. structures other than the dwelling - ✔✔-breakage of glass Which of the following are defined as a part of the policy and can void the policy if they are breached, whether the breach was intentional or unintentional? 1. material facts 2. representations 3. waivers 4. warranties - ✔✔-warranties Which of the following defines a loss which is consequential and comes as a result of an original loss? 1. direct loss 2. indirect loss 3. partial loss 4. total loss - ✔✔-indirect loss All of the following are correct for towing and labor costs coverage on the personal auto policy EXCEPT 1. settlement is by reimbursement. 2. coverage is available by endorsement. 3. towing and labor are combined per occurrence. 4. labor costs are performed at the shop are limited to $25. - ✔✔-labor costs are performed at the shop are limited to $25. 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? 1. none 2. $20,000 3. $250,000 4. $270,000 - ✔✔-$20,000 According to the Nationwide Definition of marine insurance, which category is an eligible marine risk? 1. condominium buildings 2. imported goods 3. office building of more than two stories 4. public park playground equipment - ✔✔-imported goods All of the following describe a nonowned auto under the commercial auto policy Symbol 9 EXCEPT 1. auto not titled to an insured but available for regular use of named insured or family member. 2. nonowned auto is designated for liability coverage only. 3. includes autos owned by employees but used in the insured's business. 4. autos used in the insured's business that are not leased, hired, rented, or borrowed. - ✔✔-auto not titled to an insured but available for regular use of named insured or family member. When the policy term ends and either the insured or the insurance company wants to discontinue coverage which provision is applied? 1. expiration 2. flat cancel 3. cancelation 4. nonrenewal - ✔✔-nonrenewal Which of the following persons is covered for accidental injury on the insured?s premises under the commercial general liability medical payments? 1. a tenant of the premises 2. an employee of the insured 3. person injured in warfare 4. a volunteer worker - ✔✔-a volunteer worker Which exposure is unique to mobile homes? 1. loss from foreclosure 2. loss from collapse of awnings 3. loss from flood damage 4. loss from collision damage - ✔✔-loss from collision damage Which of the following is EXCLUDED as a covered loss under the DP-3 coverage? 1. Freezing of pipes when water is shut off during a vacancy 2. Vandalism in a house vacant for 30 days 3. Sudden seepage from an air conditioning system 4. Damage by ice to outdoor radio and television antennas and aerials - ✔✔-Damage by ice to outdoor radio and television antennas and aerials Which policy condition is invoked when parties to an insured loss cannot agree? 1. Arbitration 2. Assignment 3. Liberalization 4. Subrogation - ✔✔-Arbitration When an insured selects Symbol 2 on the automobile declarations, indicating coverage for any auto titled to the insured, which of the following automobile types will be covered? 1. any auto 2. mobile equipment 3. owned autos only 4. temporary substituted - ✔✔-owned autos only All of the following establish a defense against negligence EXCEPT 1. contributory negligence. 2. knowingly exposing oneself to risk. 3. repudiation of the claim in a court of law. 4. expiration of the statute of limitations. - ✔✔-repudiation of the claim in a court of law. How does the BOP differ from the CPP? 1. The BOP covers property damage only. 2. The BOP is specifically designed for larger companies. 3. The BOP covers small businesses that have multiple locations. 4. The BOP prepackages a group of coverages desirable to small businesses. - ✔✔-The BOP prepackages a group of coverages desirable to small businesses. Which of the following would be covered perils under the DP-1 Basic policy form? 1. falling objects 2. freezing of plumbing 3. riot or civil commotion 4. weight of ice or snow - ✔✔-riot or civil commotion Exclusions common to liability coverage for both the personal auto policy and the business auto policy include all of the following EXCEPT 1. work related injuries to insured's employees. 2. vehicles used in prearranged racing or speed contests. 3. for bodily injury or property damage caused intentionally by the insured. 4. for liability arising while the insured auto is being used in an auto business. - ✔✔-for liability arising while the insured auto is being used in an auto business. Which of the following business liability exposures does a slip and fall loss fall under? 1. indirect and contingent 2. medical expense 3. premises and operations 4. retail hazards - ✔✔-premises and operations Which part of the commercial general liability designates who is an insured? 1. conditions 2. declarations 3. definitions 4. insuring agreement - ✔✔-declarations Which one of the following valuations methods best describes how a loss will be settled when the policy provides for actual cash value settlement? 1. depreciation plus replacement cost 2. cost to repair if less than policy limit 3. replacement cost less depreciation 4. the lesser of insurable interest - ✔✔-replacement cost less depreciation Which of the following hazards is an example of a physical hazard? 1. burning debris near the building on a calm sunny day 2. leaving the shed unlocked at night because contents are insured 3. backing into the garage door because you want insurance to pay for a new one 4. leaving the keys in the car and doors unlocked - ✔✔-burning d