Property and Casualty Insurance Exam

• | Page

Property and Casualty Insurance Exam – Georgia Questions and Answers 100% Pass

Question 1: 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.
• The insured and an injured 3rd party cannot reach an

agreement regarding the settlement of a claim.

CORRECT ANSWER: A. The ins company and a pedestrian

struck by the insured's auto cannot reach an agreement regarding the settlement of a claim.

Question 2: Which of the following bonds protects an employer

fro the actions of dishonest employees?

• | Page

• Surety
• Fidelity

B.Fidelity

CORRECT ANSWER: B. Fidelity

Question 3: 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 4: 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?

• | Page

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

CORRECT ANSWER: A. Operations exposure

Question 5: 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 6: Once an injured employee has received benefits

provided under workers' compensation, that employee may not

• | Page

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. executive remedy

Question 7: 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