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TEXAS PROPERTY AND CASUALTY
INSURANCE ONLINE PRACTICE EXAM | ALL
QUESTIONS AND ANSWERS | LATEST VERSION
| ALREADY GRADED A+
Adam is injured in a car accident caused by Jon. What kind of insurance would cover Jon's obligation to pay for Adam's injuries?
ANSWER: Liability insurance
Ensures must file all rates and forms for commissioners approval within how many days prior to use?
ANSWER: 60 days
Property insurance is designed to cover all of the following, except?
ANSWER: Bodily injury to third parties
An insured under a homeowners policy who is filed to or more claims in the proceeding policy year May be?
ANSWER: Surcharged on the premium amount
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After being denied auto coverage, multiple times through the normal insurance market, an applicant may be eligible to purchase coverage through?
ANSWER: An assigned risk plan
The maximum amount of coverage that may be written for one dwelling in the Texas fair plan program is?
ANSWER: $1,000,000
If an auto policy has split limits of 30/60/25, how much will the policy pay for property damage in a single accident?
ANSWER: $25,000
All of the following statements are true, regarding the relationship among the amounts of insurance, except?
ANSWER: All property losses under the basic form are settled
on a replacement cost basis.
The Texas Windstorm Insurance Association provides windstorm and hail insurance?
ANSWER: In the seacoast territory of this state only
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In Texas, unless higher optional limits are purchased the maximum amount payable for all auto personal injury protection benefits arising out of a single account shall not exceed?
ANSWER: $2,500
Which of the following is not considered a residual market?
ANSWER: State Property and Casualty Guaranty Association
What are the maximum limits of liability allowed for uninsured/under insured motorist coverage?
ANSWER: 30/60/25
According to the Texas financial responsibility, law operating a motor vehicle without the required liability insurance is considered a?
ANSWER: Misdemeanor
Which type of liability insurance may an insured reject in writing?
ANSWER: Uninsured motorist coverage
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Who are the members of the Texas windstorm insurance Association?
ANSWER: All authorized property insurers
An insurer may cancel personal auto policy if the policy has been in effect for at least, how many days?
ANSWER: 60 days
An insurer can cancel a personal auto policy by giving the named insured 10 days prior written notice for any of the following reasons, except if?
ANSWER: The cancellation is to take effect on the 12-month
anniversary of the policy.
When a transportation network company arranges a ride for a customer the type of vehicle that can be used is?
ANSWER: A drivers own vehicle
The transportation network company does which of the following?