GA P&C Practice Test Practice Questions with Complete Solutions (Latest 2025) Which of the following statements concerning the types of Homeowner's policies are correct? - Correct Answers ✅HO-
- provides coverage for the insured interest in additions,
alterations and improvements made to a condo unit Laws which form the most common legal basis for responsibility to others for losses caused by one's action are
the: - Correct Answers ✅Law of Negligence
In Property and Casualty Insurance Field, for a loss to bepayable, insurable, interest must be exist? - Correct Answers ✅at the time of the loss only General Liability insurance does not cover liability arised out of - Correct Answers ✅aircraft owned by the insured
The Insurance Commissioner of this State is: - Correct
Answers ✅elected for a 4 year term A Mobile Home - Correct Answers ✅can be insured much like a conventional home with the same perils insured with a modified homeowners policy An insurer that is an unincorporated aggregation of persons, operating individually and collectively through an attorney-
in0act to provide insurance among themselves is known as: -
Correct Answers ✅a reciprocal insurer 1 / 3
GA P&C Practice Test Practice Questions with Complete Solutions (Latest 2025) Which of the following losses to personal property would be covered in a full HO-3 policy that contained no endorsements increasing coverage - Correct Answers ✅a $2000 fire loss to jewlery
A Foreign Insurance Company is: - Correct Answers ✅an
American company not organized under the laws of this state but licensed in this state Under commercial genera liability claims made coverage the basic extended reporting period - Correct Answers ✅provides a five (5) year period for reporting claims for which the occurence was reported during the policy period or within the 60 days past expiration
All of the following statements are correct EXCEPT: - Correct
Answers ✅Theft implies physical violence An agent induces a policyholder to drop one policy and
replace it with a new one to his detriment. This is called: -
Correct Answers ✅Twisting The act of returning to the insured or applicnt a part of his premium or giving the insured or applicant a special favor or advantage in dividends or other financial profits on the policy or offering to give sell or purchase any stocks bonds or other 2 / 3
GA P&C Practice Test Practice Questions with Complete Solutions (Latest 2025) securties of an corporation including the insurance company as a special inducement for the purcharser to buy is called - Correct Answers ✅rebating Marshall and Gloria have a HO-3 with $100,000 Coverage A limit. They suffer a $100,000 loss to the dwelling. What will their policy pay for debris removal? - Correct Answers ✅up to $5000 Which of the following provisions of a Fidelity Bond permits an employer tomake a claim after the bond expires, providing the loss is ascertained and assuming that the loss was caused while bond was in force - Correct Answers ✅Discovery Period Clause The principle of indemnity prevents insureds form profiting form loses. Which of the following is determined by subtracting depreciation from replacement cost - Correct Answers ✅Actual Cash Value Insurable interes requires that the insrued must suffer financail loss or incur some other kind of economic harm if loss occurs. All of the following support insurable interest in P&C insurance except - Correct Answers ✅Individual lives in close proximity to property
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