Insurance Exam Questions and Answers

Georgia Property and Casualty Insurance Exam Questions and Answers (Latest Update)

Question : The arbitration clause in a personal auto policy

would be used in which of the following circumstances?

• The ins company and a pedestrian struck by the insured's

auto cannot reach an agreement regarding the settlement of a claim.

• The insured and an injured 3rd party cannot reach an

agreement regarding the settlement of a claim.

• The court have ruled against an injured 3th party.

CORRECT ANSWER : B. The insured and an injured 3rd

party cannot reach an agreement regarding the settlement of a claim.

Question : Which of the following bonds protects an

employer fro the actions of dishonest employees?

• Surety
• Fidelity

CORRECT ANSWER : B.Fidelity

Question : A dwelling has been vacant for more than 60

consecutive days. Which of the following would most likely NOT be covered?

• Vandalism
• Smoke
• Fire
• Falling Objects

CORRECT ANSWER : A. Vandalism

Question : While in her backyard, Susan injuries her foot on a

rake left by her landscapers. What part of the CGL policy will protect the owner of the landscaping company?

• Operations exposure
• Products Liability
• Completed operations liability
• Premises exposure

CORRECT ANSWER : A. Operations exposure

Question : Premium computation is found in which section of

the workers' compensation policy?

• Part 3
• Part 5
• Part 1
• Part 2

CORRECT ANSWER : B. Part 5

Question : Once an injured employee has received benefits

provided under workers' compensation, that employee may not file a suit against her employer to gain additional benefits.This is the def. of

• Contributory negligence
• the fellow servant rule
• Assumption of risk
• Exclusive remedy

CORRECT ANSWER : D. exclusive remedy

Question : The purpose of the basic extended reporting period

in a commercial general liability (CGL) " claims-made" policy is to provide

• additional time for the insured to make monthly reports of

information for rating purposes

• coverage for events that have happened before the policy

became effective

• coverage for events that happened up to 5yrs after a

claims-made policy has expired D Coverage for events that have happened after the retroactive date, but which were not within 60days of policy expiration

CORRECT ANSWER: D. Coverage for events that have

happened after the retroactive date, but which were not within 60days of policy expiration

Question : What is the purpose of the employer's liability

section of a workers' comp plicy ( part 2) ?

• pay for lawsuits filed by an employer
• Pay for benefits that are normally required by state

workers' comp laws