FX GA Property and Casualty Exam Practice Questions with Complete Solutions (Latest 2025) In Return for premium, and insurance company must.. - Correct Answers ✅Be Fair in underwriting and pay covered losses In return for premium, an insurance company must be fair and impartial in underwriting of risks and must pay claims made for all covered losses.The part of a policy that clarifies terms in the policy is the - Correct Answers ✅Definitions The valued policy statute applies in which of the following events? - Correct Answers ✅In the event of a total loss by fire to a one or two family residential building or structure What insurance policy provision defines how the policy will respond if there is more than one insurance policy written on the same risk? - Correct Answers ✅Other Insurance An insured owns several buildings, each at different location and insured on a separate policy. What type of coverage does the insured have? - Correct Answers ✅Specific 1 / 4
FX GA Property and Casualty Exam Practice Questions with Complete Solutions (Latest 2025) Specific insurance provides a specific amount of coverage for each property. A Blanket insurance policy provides coverage for more than one property with a single limit of coverage.Any insurer who issues a crop insurance policy, other than federal crop insurance, for tobacco crops grown in GA, shall make available coverage for what until the crop is harvested?
- Correct Answers ✅Wind or Hail
An insured is driving her car through a residential area when she loses control and crashes into a neighbor's front porch.The neighbor, who was sitting on the porch, is injured. The insured's liability policy has a limit of $500,000. This amount applies to the total of damages for any bodily injury and property damage resulting from one accident. Which type of limit of liability does the insured have? - Correct Answers ✅Combined Single The process of determining the premium charged and how much insurance is required for a particular loss is called? - Correct Answers ✅loss Valuation An insurance Agent has received a request for a hearing from the commissioner. Within how many days must the hearing be held? - Correct Answers ✅30 Days 2 / 4
FX GA Property and Casualty Exam Practice Questions with Complete Solutions (Latest 2025) An insured relocated to another state for work. However, she still owns and insures a house in this state, but has had no one living in it for 3 months. She is also storing some of furniture and clothes in the house. From an insurance standpoint, the insured's house is considered - Correct Answers ✅Unoccupied Under the personal auto policy, liability for bodily injury resulting from the insured's use of a nonowned automobile is
- Correct Answers ✅Provided by the insured's policy on an
excess basis.automobile insurance follows the insured auto, so the coverage written on the auto is primary. automobile insurance also follows the insured as excess over other collectible insurance.All of the following types of property are covered by a
standard builders risk form EXCEPT:
- tools 50 feet away from the building
- Temporary structures
- Machinery that will be permanently attached to the
B.The building itself
building - Correct Answers ✅A. Tools 50 feet away from the building. 3 / 4
FX GA Property and Casualty Exam Practice Questions with Complete Solutions (Latest 2025) If a policy has been in effect for at least 60 days or is due for renewal, a cancellation may only be effected for which of the following reasons? - Correct Answers ✅a change in the risk that substantially increases the hazard insured against.Which of the following statements is true regarding the premium computation for workers compensation insurance? - Correct Answers ✅A Premium auditor has the right to examine the insured's compensation records at the end of the policy period to determine the actual premium basis.When a parent is required to pay for damages caused by his or her children, this is an example of? - Correct Answers ✅vicarious liability A building is insured, but no one has lived or worked in it for 10 years. The building is completely empty of any furniture or personal belongings. From an insurance standpoint, the building is considered - Correct Answers ✅Vacant a property insurance policy that is not subject to any coinsurance requirements but has a set amount of insurance scheduled for the property would use hat loss valuation method? - Correct Answers ✅Stated Amount
- / 4