P&C 1

A knowledgeable insurance agent discussing coverage options with a customer in a bright office setting, with insurance documents and graphs in the background

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

10 Questions2 MinutesCreated by LearningRain574

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

P&C 1

Test Your Knowledge on Property & Casualty Insurance

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