Property & Casualty Final Exam Questions and Verified Answers, (Latest 2025) Which of the following licensees works for a person who is licensed as a property and casualty agent and explains coverage, describes insurance products and quotes premium rates? - Correct Answers ✅Insurance service representative Steven was having lunch with a group of agents when he made some false statements about a competitor's financial condition in order to hurt their reputation. In this case, Steven has committed which of the following acts? - Correct Answers ✅Defamation Which of the following protects policyholders and claimants of impaired or insolvent insurers that cannot pay their claims or benefits? - Correct Answers ✅Texas Property and Casualty Insurance Guaranty Association Janet has been continuously licensed as an agent in Texas for the past 25 years. Her friend Steven is a nonresident licensee in Texas and every year completes his state's continuing education requirements. When they ask you for advice on meeting the Texas continuing education requirements, you
inform them that: - Correct Answers ✅Neither Steve nor
Janet needs to comply with Texas's continuing education requirements 1 / 3
Property & Casualty Final Exam Questions and Verified Answers, (Latest 2025) Which of the following statements BEST describes the transfer of risk via an insurance contract? - Correct Answers ✅Not all risks are transferable via insurance contracts Angela cannot obtain a homeowners insurance policy from a licensed insurance company in Texas. From which entity will she likely be able to obtain coverage? - Correct Answers ✅Fair Housing Plan Kent stated on his application for property insurance that the roof of the building being insured had been recently replaced.In fact, the replacement occurred 12 years ago. Kent made a false statement of a material fact, which is also known as a - Correct Answers ✅Misrepresentation The Texas Department of Insurance receives a written complaint about an insurer that prompts an investigation.The Department uncovers evidence of an elaborate money- laundering operation and determines that an undercover investigation is necessary to obtain enough evidence to pursue a conviction of the company's officers. Which of the following statements is true? - Correct Answers ✅TDI can withhold any notices to the complaining party until the investigation is completed Alex asks your advice seeking objective information about the financial reliability of an insurance company from which he is 2 / 3
Property & Casualty Final Exam Questions and Verified Answers, (Latest 2025) considering the purchase of insurance. You might suggest that he - Correct Answers ✅Check the company's financial rating from an established rating organization Many large organizations self-insure up to a specific limit but buy insurance to cover losses beyond that limit. Setting up a self-insurance program is an example of which method of handling risk? - Correct Answers ✅Risk retention Esther has just bought an expensive painting as an addition to her art collection.Considering the high price she paid for it, she wants to be sure there will be no dispute with the insurer in the event it is damaged or stolen. What type of policy would you recommend Esther purchase? - Correct Answers ✅Valued policy Main Street Corp. owns a shopping center. It buys liability and property insurance to cover losses stemming from its business. It also requires tenants of the shopping center to hold Main Street harmless from injuries sustained on tenant property. This is an example of which method of handling risk? - Correct Answers ✅Risk transfer Which of the following is NOT an unfair claims settlement practice if committed by an insurance company in Texas? - Correct Answers ✅Failing to promptly settle a claim for which liability is uncertain
- / 3