P&C 1
Test Your Knowledge on Property & Casualty Insurance
Are you well-versed in the nuances of Property and Casualty insurance? Take this quiz to challenge your understanding and see how much you truly know!
- 10 multiple choice questions
- Focuses on insurance policies and principles
- Ideal for insurance professionals and enthusiasts
What is the limit for the forgery or altercation coverage in the businessowners policy?
$2,500
$1,500
Who provides and sells coverage under a FAIR plan?
Public insurance companies operating in that state
Private insurance companies operating in that state
Why is a homeowner's policy considering a multiline policy?
It provides property and liability insurance in a single policy
It provides property and liability insurance in multi policies
What type of liability is based on a product being unreasonable dangerous?
Vicarious
Strict
Competency of an individual to enter into an insurance contract is determined based on
Legal Age
Consideration
Which of the following is the purpose of the Property and Casualty Insurance guaranty fund in PA?
Provide legal benefits
Provide for the payment covered claims of an insolvent insurer
What is the purpose of difference in conditions insurance on a commercial policy?
Provides broad coverage to fill gaps
Provides higher limits on policy
A deliberate lie by an insured to the insurer to obtain a lower premium is an example of
Estoppel
Fraud
An individual who acts on behalf of an inquirer in negotiating an insurance contract is known as
Consultant
Principal
Which of the following example of a loss covered by collision coverage under a business auto policy
Hitting a rock
Breakage of Glass
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