Exam FX Past Exam QUESTIONS AND

Texas Property & Casualty Guaranteed Exam FX Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Restoring an insured financially after a claim is known as - Correct Answers ✅indemnity Prior to paying a claimant under a professional liability policy, the insurer must - Correct Answers ✅Obtain the consent of the insured.The purpose of purchasing an umbrella liability policy is to provide - Correct Answers ✅Excess insurance over the primary liability policy.Which of the following terms means termination of an insurance policy at its expiration date by not offering a policy continuation or replacement?A Cessation B Cancellation C Nonrenewal 1 / 4

Texas Property & Casualty Guaranteed Exam FX Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) D Suspension - Correct Answers ✅Nonrenewal To determine the actual cash value of an insured property, what must be deducted from the current replacement cost? - Correct Answers ✅Depreciated value All of the following are factors in the determination of actual cash value EXCEPT A . Insurance premium paid B Age of property.C Replacement cost.

• Property type. - Correct Answers ✅Insurance premium

paid Which type of damages is intended as a form of punishment for negligent, willful, or outrageous intent? - Correct Answers ✅Punitive 2 / 4

Texas Property & Casualty Guaranteed Exam FX Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Which method of dealing with risk is applied when insurance is purchased? - Correct Answers ✅to transfer What amount of coverage is provided on HO policies for watercraft? - Correct Answers ✅Up to $1,500 Which of the following components is NOT part of a policy structure?

• Benefits
• Declarations
• Additional coverage
• Definitions - Correct Answers ✅Benefits

Which of the following stipulates the procedure that insureds and insurers can use when they cannot agree on the value of a loss? - Correct Answers ✅Appraisal clause Which of the following is the cause of loss? - Correct Answers ✅peril 3 / 4

Texas Property & Casualty Guaranteed Exam FX Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) If the premiums collected by an insurer participating in the WYO flood program are insufficient to cover losses, which of the following would be true?

• Federal Insurance Administration will remove the insurer

from the NFIP.

• The insurer will be reimbursed for the excess costs by the

NEIP

• The insurer must cover the loss out of its surplus.
• The insurer must apply for disaster relief funds. - Correct

Answers ✅The insurer will be reimbursed for the excess costs by the NFIP.Under an HO-2 policy, the insurer will pay no more than the actual cash value of the property damage until - Correct Answers ✅The property repair or replacement is complete.A personal umbrella policy may act as excess over any of the following insurance coverage policies EXCEPT

• Homeowners Section Il coverage.
• Auto liability coverage.
• Comprehensive personal liability.
• Auto collision coverage - Correct Answers ✅Auto

collision coverage

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